What to Know
- A new study has crunched the numbers on the cheapest and easiest places to find a larger home to rent when you need an extra bedroom
- The best borough to upsize from a one-bed to the two-bed is Brooklyn, the study finds; Queens was a close second
- By neighborhood, the best spots to look for extra bedrooms include Long Island City, Midtown South, Fort Greene, Chelsea and W. Harlem
Upsizing to a bigger home in New York City doesn't have to break the bank.
A new study has crunched the numbers on the cheapest and easiest places to find a larger home to rent when you need an extra bedroom -- whether for a growing family or a growing shoe collection.
The new affordability study from StreetEasy compares the price increase of going from a studio or one-bedroom to a two or three-bedroom home across different neighborhoods. It also looks at how much stock is available in the different New York nabes.
Keep these tips handy -- they could save you time and money.
EASIEST FINANCIAL TRANSITION FOR UPSIZING TO 2 BED
The best borough to upsize from a one-bed to the two-bed is Brooklyn, the study finds.
Local
"The median asking rent for 2-bedroom apartments increases 14 percent from the median asking rent of studio and 1-bedroom apartments, compared to a 32 percent increase in Manhattan," it said.
Bushwick is a standout -- it has an abundant two-bedroom rental inventory and apartments that only ask 13 percent more when moving from one-bed to two.
Queens was a close second, the study found. Long Island City requires only 6 percent more rent for the median 2-bedroom unit compared to the median studio or 1-bedroom unit.
EASIEST FINANCIAL TRANSITION UPSIZING TO 3 BED
It's much harder to find a three-bedroom than a two-bedroom in New York City, the study finds.
Despite this, the rent increase between a two-bed and a three-bed isn't too bad, even in Manhattan.
"Midtown South, Chelsea and Stuyvesant Town/Peter Cooper Village have the smallest rent increases in Manhattan when adding third bedroom (-5 percent, 11 percent and 13 percent respectively)," the study says.
In Flushing, Queens, 3-bedroom homes rent for an average of 11 percent higher than 2-bedroom homes.
BEST NEIGHBORHOODS TO LOOK FOR EXTRA BEDROOMS
Belmont, Bayside, Long Island City, Midtown South, Bushwick, Canarsie, Williamsburg, Fort Greene, Ridgewood, West Harlem, Greenwood, Flushing, East New York, Chelsea, Glendale
