Last verified: November 8, 2026. By Joe Bjorklund · How we check · Report an error
Key Takeaways
- Moving into a New York City apartment at the Q3 2026 median asking rent of $3,785 costs at least $7,590 up front: first month’s rent, a one-month security deposit and a $20 application fee (NewYorkCostOfLiving.com calculation).
- Under New York City’s FARE Act, in effect since June 11, 2025, a broker hired by the landlord cannot charge the tenant a fee (NYC Dept. of Consumer and Worker Protection).
- New York State law caps security deposits at one month’s rent and requires landlords to return them within 14 days of move-out (General Obligations Law § 7-108).
- New York State caps rental application fees, including background and credit checks, at $20 (Real Property Law § 238-a).
How much money do you need to move into an NYC apartment?
A renter moving into a New York City apartment at the Q3 2026 median asking rent of $3,785 needs at least $7,590 at lease signing: first month’s rent, a security deposit of one month and a $20 application fee. That is a NewYorkCostOfLiving.com calculation using Realtor.com rent and New York State’s legal caps. Movers, furniture and utility setup come on top.
| Borough | First month | Security deposit (max) | Application fee (max) | Total at signing |
|---|---|---|---|---|
| Manhattan | $5,375 | $5,375 | $20 | $10,770 |
| Brooklyn | $4,197 | $4,197 | $20 | $8,414 |
| Queens | $3,744 | $3,744 | $20 | $7,508 |
| The Bronx | $3,233 | $3,233 | $20 | $6,486 |
| NYC (four boroughs) | $3,785 | $3,785 | $20 | $7,590 |
Who pays the broker fee in NYC now?
Since June 11, 2025, the person who hires a broker pays the broker in New York City. Under the FARE Act (Local Law 119 of 2024), neither a landlord nor the landlord’s agent can charge a tenant for a broker the landlord hired, including a broker who lists the apartment with the landlord’s permission, according to the NYC Department of Consumer and Worker Protection. Tenants who hire their own broker still pay that broker. Renters can report an illegal fee to 311 or at nyc.gov/consumers.
What are the legal limits on NYC move-in fees?
- Security deposit: no more than one month’s rent, returned within 14 days after you move out with an itemized list of any deductions (General Obligations Law § 7-108).
- Application fee: no more than $20, or the actual cost of the background and credit check if lower (Real Property Law § 238-a).
- Advance rent: landlords can’t require last month’s rent in advance on top of the deposit.
- Broker fee: $0 to the tenant when the landlord hired the broker (FARE Act).
Frequently Asked Questions
How much do you need to move into an NYC apartment?
At New York City’s Q3 2026 median asking rent of $3,785 (Realtor.com), a renter needs at least $7,590 at lease signing: $3,785 first month’s rent, a $3,785 security deposit and a $20 application fee. That is a NewYorkCostOfLiving.com calculation using New York’s legal caps. In Manhattan the same total is $10,770; in the Bronx it is $6,486.
Do tenants still pay broker fees in NYC?
Usually not. Since June 11, 2025, New York City’s FARE Act bars landlords and their agents from charging tenants for a broker the landlord hired, according to the NYC Department of Consumer and Worker Protection. A tenant pays a broker fee only when the tenant hires their own broker. Illegal broker fees can be reported to 311.
What is the maximum security deposit in New York?
A New York landlord can’t collect more than one month’s rent as a security deposit, under General Obligations Law § 7-108, part of the Housing Stability and Tenant Protection Act of 2019. The landlord must return the deposit within 14 days after the tenant moves out, with an itemized statement of any deductions.
How much can an NYC landlord charge for an application fee?
A New York landlord can charge no more than $20 for a rental application, or the actual cost of the background and credit check if that is lower, under Real Property Law § 238-a. The landlord must give the applicant a copy of the report and the receipt. The cap applies statewide, including New York City.
Can an NYC landlord ask for first and last month’s rent?
No. Under New York’s 2019 Housing Stability and Tenant Protection Act, a landlord can collect the first month’s rent and a security deposit of no more than one month’s rent, but can’t require last month’s rent in advance as well. Any charge that works like a deposit counts toward the one-month cap.
Related: Moving to NYC cost checklist · What a one-bedroom costs in NYC · Rent-stabilized apartments · How much you need to make in NYC · Hidden costs of living in NYC · NYC renters insurance cost
Sources
- NYC Department of Consumer and Worker Protection, Fairness in Apartment Rental Expenses (FARE) Act FAQ (law effective June 11, 2025)
- New York State Legislature, General Obligations Law § 7-108 and Real Property Law § 238-a (Housing Stability and Tenant Protection Act of 2019) (2019)
- Realtor.com, 2026 Q3 NYC Rental Report (Oct 27, 2026)