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See Which Subway Station Is Closest to the Cheapest Apartments

By Nicole Levy | April 29, 2016 3:50pm | Updated on September 1, 2016 10:24am
 This map from RentHop shows the median one-bedroom rental prices at most city subway stations.
This map from RentHop shows the median one-bedroom rental prices at most city subway stations.
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RentHop

Every New Yorker knows that living farther away from where the action is saves you money.

But just how much?

You can pay up to $845 less per month by adding one extra subway stop and 2 minutes more to your daily commute, according to a study by the apartment rental listings website RentHop.

The analysis of Renthop's own rental listing prices within less than half a mile from major subway stations shows that the city's most expensive one-bedroom rentals can be found near the 23rd Street station on the 1 line, where the median price is $4,000 a month.

The most affordable are in the Bronx on the 5 and 6 lines, where the median is $1,250 near the Gun Hill Road and Pelham Bay Park stations.

The median rent for one-bedroom apartments near the 66th Street stop on the 1 line is $845 greater than for those near the 72nd Street stop. (Maybe the perk of having Lincoln Center in your backyard isn't quite worth all that extra cash?) 

RentHop map

Credit: RentHop

You could also save about $800 by living one stop south of 23rd Street on the 1 line and $700 by living one stop east of Court Square on the E train in Queens. On average, barring incidents or traffic, it takes a train two minutes to travel from one station to the next, RentHop estimated.

As for year-over-year changes in rent, you'll particularly want to avoid the Upper East Side's 96th Street stop on the 6 train, near which prices jumped 22.3 percent, and the Union Square subway hub, near which prices rose 18.3 percent.

Better bets — excluding those along the cursed L train, which is slated for renovation and closure at some point within the next few years — include one-bedroom apartments near the Queens Plaza stop on the E/M/R lines, rents for which have dropped 13.4 percent in 2016 compared to the same period in 2015, and those near the Flushing Avenue stop on the J/M lines in Bed Stuy, which saw rent decreases of 12.4 percent.

(In case you're looking, the beleaguered 7 train, which closes down frequently for repairs and which stretches through many affordable neighborhoods, was largely not included on the map.)