Renting in New York as an Australian: 2026 guide

Finding a flat in New York is still a contact sport. The rules, though, tilted in tenants' favour in 2025, and knowing them saves you thousands.

The short version

Since 11 June 2025, the FARE Act stops landlords' agents charging tenants a broker fee. You only pay a broker you hire yourself [1].
Application fees for background and credit checks are capped at US$20, and the security deposit at one month's rent [3].
StreetEasy's citywide median asking rent was US$4,150 a month in September 2026, with Manhattan at US$4,995 [4].
Inventory is tight: listings were down more than 15% on a year earlier [4], so be ready to apply on the day you view.
About one million New York flats are rent stabilised, with yearly increases set by the Rent Guidelines Board [6].

What the market looks like in late 2026

New York rents keep climbing. StreetEasy's September 2026 report put asking rents and supply like this [4]:

Area	Median asking rent	Change on a year earlier	Listings with at least a month free
Citywide	US$4,150	+3.9%	17.6%
Manhattan	US$4,995	+8.0%	14.4%
Brooklyn	US$3,945	+3.8%	19.2%
Queens	US$3,400	+4.7%	17.9%

Brokerage reports run hotter. Corcoran's September 2026 report, covered by 6sqft, recorded a record Manhattan median of US$5,395 and a Brooklyn median of US$4,300 [5]. Different firms measure different listings, so treat these as a range rather than one true number.

One useful wrinkle: "concessions". Nearly one in five Brooklyn listings offered at least a month free in September 2026 [4]. Landlords often advertise the "net effective" rent, which spreads that free month across the lease. Always ask what the actual monthly payment is, because that's what you'll pay once the lease renews.

The FARE Act: who pays the broker now

For years, New Yorkers handed a landlord's broker a hefty fee just to get the keys. Before the change, StreetEasy put average upfront costs at US$13,076 [2]. The Fairness in Apartment Rental Expenses (FARE) Act changed that from 11 June 2025 [1]:

An agent working for the landlord, including the listing agent, can't charge you a broker fee [1].
A landlord can't make you hire a particular broker, or any broker, to see or rent a flat [1].
If you choose to hire your own broker to hunt for you, you pay them [1].
Every fee you must pay has to be disclosed in the listing, and you get an itemised written list to sign before the lease [1].

StreetEasy estimated renters were saving about US$5,454 on average at lease signing because of the change, though it also found the act nudged asking rents up by around 1.1% on broker-listed flats [2]. Compliance isn't perfect: in a StreetEasy survey, 38% of renters reported a rights violation between July and September 2025 [2]. If someone asks for a fee they shouldn't, collect the texts and receipts and file a complaint with the city's Department of Consumer and Worker Protection [1].

Your rights on deposits, fees and repairs

New York State law sets some firm limits. These come straight from the NYC Comptroller's Tenant Bill of Rights [3]:

Rule	What the law says
Application fee	No more than US$20, covering background and credit checks
Security deposit	No more than one month's rent
Deposit refund	Itemised deductions and the balance within 14 days of moving out, or the full deposit back
Late fees	Five-day grace period, then the lesser of US$50 or 5% of the monthly rent
Non-renewal or rises over 5%	30, 60 or 90 days' notice depending on how long you've lived there
Heat season	1 October to 31 May: at least 68°F (20°C) by day when it's below 55°F (13°C) outside
Hot water	At least 120°F (49°C) at the tap from 6am to midnight

That heating rule matters more than Aussies expect. Many older buildings use steam radiators you can't control, and the landlord, not you, pays for the heat. In newer buildings, check whether heating runs on your own electricity bill.

Rent stabilisation in plain English

Roughly one million New York apartments are rent stabilised [6]. They're mostly in older buildings, and the key benefit is a cap on how much the rent can rise at each renewal. The city's Rent Guidelines Board sets the cap each year. For leases starting from October 2025, it approved 3% for a one-year renewal and 4.5% for two years [6].

Stabilised flats aren't marked with a big sign. Ask the agent or landlord directly, and read the lease rider. For a newcomer, a stabilised flat is a quiet win, because your rent can't jump 8% on renewal the way the open market has in Manhattan [4].

Getting approved without a US credit history

This is where Australians come unstuck. New York landlords lean heavily on US credit reports and income checks, and you arrive with neither. Many landlords look for an annual income that's a large multiple of the monthly rent. Here's how to stack the odds:

Get your paperwork into one PDF. Passport, visa, I-94, employer offer letter showing salary and start date, recent payslips, and an Australian bank statement.
Ask your employer for a reference letter. A letter on company letterhead confirming your role and salary goes a long way.
Bring an Australian credit report. It won't plug into US scoring, but it shows you've managed credit before. Some smaller landlords will accept it.
Offer to pay more up front, carefully. In New York the deposit is capped at one month [3], so a landlord can't demand a bigger deposit. Some accept prepaid rent instead; get any arrangement in writing.
Consider a guarantor. If you don't have a US-based guarantor, there are institutional guarantor companies that act as one for a fee. Read the terms and compare before you commit.
Start building US credit straight away. Our guide to building a US credit history from scratch has the steps, so your second lease is easier than your first.

Inspect like a local

Rooms in New York are small and photos are generous. When you view a flat, check:

Light and noise. A ground-floor flat facing a busy avenue is a very different life from a rear unit.
Laundry. Many buildings have none. Is there a laundry room, or will you be hauling bags to the laundromat?
Stairs. A fifth-floor walk-up is a lot of stairs with a suitcase or groceries.
Pests and leaks. Look under the sink and inside cupboards. Ask about pest control.
The radiator. Ask how heat works and who controls it, given the heat-season rules [3].

Do a joint walk-through with the landlord before you move in, and take dated photos [3]. It's your best protection for that 14-day deposit refund.

Where to look, and how to move fast

Most flats are listed on the big rental portals and are often let within days. Set alerts, view with your documents ready, and be prepared to apply on the spot. Don't hand over money for a flat you haven't seen in person or by live video, and only pay fees that are listed and itemised [1].

Stuck on an application or comparing neighbourhoods? Ask in Cooee USA, our Facebook group for Australians in the USA. Members have been through approval with no US credit and can tell you what worked.

Renting in New York: the broker fee ban, the US$20 cap and getting approved