Renting it out yourself in the Financial District

The median asking rent in the Financial District is $5,015 a month as of September 2026: about $4,181 for a studio, $5,503 for a one-bedroom, $7,436 for a two-bedroom and $10,063 for three bedrooms or more. Your building, condition and light move the number.

Confirm your building allows it (co-op sublet rules and condo leasing rules vary), price it from current comps, photograph it well, screen tenants consistently and lawfully, use a written lease, and hold the security deposit — capped at one month’s rent — according to New York law.

Under New York City’s FARE Act, in effect since June 2025, whoever hires the broker pays the fee. If you, the owner, engage an agent to list the apartment, the fee is yours; tenants pay only when they hire their own agent.

Only if the co-op’s sublet policy allows it. Many buildings require board approval, cap the length or number of sublets, require a minimum ownership period, and charge a sublet fee. Read the proprietary lease and house rules first.

Apply the same written criteria to every applicant. Application fees are capped at $20, you cannot reject applicants for lawful sources of income such as vouchers, and many common screening practices are regulated. Verify income and identity, and check with an attorney before relying on any eviction history.

There are about 885 rentals listed in the Financial District right now, and 22% of listings have cut their asking rent. Well-priced apartments in good condition typically rent within a few weeks.

At a median asking rent of $5,015 and a median sale of $908K, gross rent is roughly 6.6% of value a year before carrying costs. Your decision should include taxes, sublet rules, maintenance and how long you plan to keep the apartment.

Stays under 30 days are tightly restricted in New York City. Under Local Law 18, hosts must register with the city, be present during the stay and host no more than two guests. Most entire-apartment short-term rentals are not allowed.

Key rules include the one-month security deposit cap, the $20 application fee cap, the FARE Act on broker fees, source-of-income protections, lead paint and window guard notices, and — depending on the building — rent stabilization or Good Cause Eviction. A landlord-tenant attorney can confirm what applies to you.

About $7,436 a month at the median asking rent, based on StreetEasy data through September 2026, roughly flat year over year.

Renting it yourself saves the fee but requires pricing, marketing, showings, screening and paperwork. Under the FARE Act, an owner who hires a listing agent pays that agent, so compare the cost to the vacancy days a professional might save.

Light, layout, laundry, outdoor space and commute. Nearly every subway line converges here, along with the PATH and the ferries.