In New York City, a broker fee is typically one month's rent — about $2,700 at today's no-fee median — or 12–15% of annual rent (~$4,860 on a median apartment). You can avoid this entirely by renting directly from owners.
Broker Fee Amounts in New York City
| Calculation Method | Estimated Amount |
|---|---|
| One month's rent (median) | $2,700 |
| 12% of annual rent | $3,888 |
| 15% of annual rent | $4,860 |
| No-fee listing (by-owner) | $0 |
Why the Fee Exists
Landlords hire real estate agents to market and show their units. In some markets, they pass that cost to tenants. By-owner listings — where the landlord rents directly — skip the agent entirely, so no fee is charged.
New York City No-Fee Market Right Now
8768 by-owner listings in New York City with $0 broker fee, median $2,700/mo. Browse them here →
FAQ
How much is a broker fee in New York City?
Broker fees in New York City are typically one month's rent (~$2,700) or 12–15% of annual rent (~$4,860).
Who pays the broker fee in New York City — tenant or landlord?
In New York City, broker fees have historically been one month's rent or 12–15% of annual rent — among the highest in the US. A 2024 law (FARE Act) shifted the fee to landlords, though implementation continues.
Can I rent in New York City without paying a broker fee?
Yes. NoFeeNest lists 8768 by-owner rentals in New York City with no broker fee. Contact landlords directly.