Renting in New York as a Brit: deposits and broker fees

Expect to pay London prices and then some, but know that the law now protects you from the worst of the old New York fees.

The short version

The typical asking rent in New York City was about US$3,785 a month (about £2,810) in the third quarter of 2026, and about US$5,375 (about £3,990) in Manhattan [1]. London's average private rent was £2,338 in September 2026 [2].
Since 11 June 2025, the FARE Act stops brokers who work for the landlord charging you their fee. You only pay a broker you hire yourself [3].
Your security deposit is capped at one month's rent, and the application and background check fee at US$20 (about £15) [4].
Rent-stabilised flats get no rent rise on leases starting between 1 October 2026 and 30 September 2027 [5].
Never pay anything before you've seen the flat in person and checked who really owns it.

What it costs, borough by borough

Most Brits start in Manhattan, wince at the prices and end up across the river. Brooklyn and Queens are where a lot of us settle, and plenty commute in from Jersey City or Hoboken in New Jersey, which is a different state with different tax rules.

Area	Median asking rent, Q3 2026	In pounds	Change on a year
New York City	US$3,785	about £2,810	up 4.5%
Manhattan	US$5,375	about £3,990	up 8.3%
Brooklyn	US$4,197	about £3,110	up 4.9%
Queens	US$3,774	about £2,800	up 3.9%
London (ONS average, September 2026)	–	£2,338	up 3.5%

Sources: a Q3 2026 rental report from a major US listings portal, reported by Commercial Observer [1]; ONS [2]. These are asking rents for flats on the market. ONS measures rents people actually pay, including long-standing tenancies, so the gap isn't quite like for like, but you get the picture. Our cost of living guide compares the rest of the bills.

A few New York quirks to know:

Square feet, not square metres. Listings quote square feet. A 600 sq ft one-bed is about 56 m², which counts as roomy here.
"Walk-up" means no lift. A fifth-floor walk-up is cheaper for a reason.
"No fee" used to be a selling point. Under the FARE Act it should simply be the norm when the landlord's broker lists the flat.
Heating is often included. Landlords must provide heat from 1 October to 31 May. In the daytime, if it's below about 13°C outside, the flat must reach at least 20°C, and at night at least 13°C when it's below about 4°C outside [4]. Old buildings tend to blast it, so you may find yourself opening the window in January.

The FARE Act: who pays the broker

New York was notorious for making tenants pay the landlord's broker, often a big chunk of a year's rent. The FARE Act took effect on 11 June 2025. It "prohibits brokers who represent landlords from charging broker fees to tenants" [3]. The landlord is liable if their agent tries it.

You can still hire your own broker to search for you, and then you pay them. But nobody can make you hire or pay a broker to rent a flat, even to get a viewing [3]. Listings must show all the fees a tenant has to pay, and before you sign a lease you must get an itemised written list of fees to sign, with a copy for you [3].

If a broker or landlord charges you a fee they shouldn't, complain to the city's Department of Consumer and Worker Protection (DCWP) online, with screenshots, texts and receipts. Fines and refunds of illegal fees are possible, and you can also sue in civil court [3].

Deposits, fees and your lease

The New York Attorney General's tenants' rights guide sets out the main rules [4]:

Security deposit: no more than one month's rent. If the rent goes up later, the landlord can top the deposit up to the new rent.
Getting it back: for most flats, within 14 days of moving out, with an itemised statement of anything kept for damage. If the landlord misses that, they should return the lot.
Application fees: a maximum of US$20 for the background and credit check, and you should get a copy of the report. If you've had your own check done in the last 30 days, you can offer that instead.
Fit to live in: every lease includes a "warranty of habitability", which means a safe, sanitary home. Any clause that waives it is void.
Renewal notice: if the landlord won't renew, or wants to raise the rent by more than 5%, they must give 30, 60 or 90 days' notice depending on how long you've been there.

Note that the guide itself isn't dated, so check anything critical with the Attorney General's office.

Rent-stabilised flats

Around the city, many older buildings with six or more flats built before 1974 are rent-stabilised [4]. Rises are set each year by the Rent Guidelines Board. Under Order 58, adopted on 25 June 2026, rises on one-year and two-year leases starting between 1 October 2026 and 30 September 2027 are 0% [5]. You also have the right to a renewal lease. Ask the landlord, or check the lease rider, whether a flat is stabilised. It's the closest thing New York has to a secure tenancy.

The guarantor problem

Here's the real headache for a newly arrived Brit. Landlords want proof that you earn many times the monthly rent and a decent US credit score, and you arrive with neither. Your UK credit history doesn't cross the Atlantic. Common workarounds:

an offer letter or employment contract showing your US salary
paying several months up front, where the landlord agrees and the law allows
a paid guarantor service that acts as your guarantor for a fee
a corporate let or furnished short let for the first few months, while you build credit

Our guide to getting a Social Security number and US credit from scratch explains how to start your credit file.

How to find a place, step by step

Work out your budget with state and city tax in mind, not just your gross pay.
Pick two or three neighbourhoods and check the commute on the subway map. A short walk to the right line beats a trendy postcode.
Search the big listing sites and filter for flats where the landlord's broker can't charge you.
View in person or send someone you trust. New York flats look very different in real life.
Get your documents ready: passport, visa, offer letter, recent payslips and bank statements, plus a reference from your UK landlord.
Read the fee disclosure and the lease before signing. Check who pays utilities and whether there's a move-in fee from the building.
Pay by traceable means into an account in the landlord's or managing agent's name, never cash or a gift card.

Scams to avoid

Rental scams in New York are as old as the fire escapes. Be suspicious if:

the rent is far below everything else on the street
the "owner" is abroad and will post you the keys after you pay
you're asked for a deposit or first month's rent by wire transfer, crypto or a payment app before a viewing
someone pressures you to decide within the hour

Check the owner on the city's property records, and remember the deposit can't legally be more than a month's rent anyway [4]. If you spot a broker breaking the FARE Act, report it to DCWP [3].

Our community group for Brits in the US is full of people who've survived a New York flat hunt, and you can join here to ask about buildings and neighbourhoods.

Pound conversions use the Bank of England spot rate of 5 November 2026 (£1 = USD 1.3476). Tenancy law is general information; check your own lease with a tenant's lawyer or the Attorney General's office if things go wrong.

Renting in New York: deposits, broker fees and your rights as a Brit