Hotels in New York are among the most expensive in the entire USA. On top of the already high base prices, state and city taxes further increase costs. More affordable hotels can typically be booked outside of Manhattan, though finding a good deal may require considerable research. In this article, I will recommend three budget-friendly hotels, three luxury hotels, and three hotels offering the best value for money.
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What You Should Know About Accommodations in New York
📅 Book Your Hotel in Advance
Hotel prices in New York fluctuate significantly based on the season and current demand. Rates are typically highest during the summer months and around New Year’s Eve. To secure the best prices, book your accommodations several months in advance when there are still plenty of rooms available. Booking offers hotels with free cancellation policies, allowing you to make a reservation and continue looking for better deals.
🗺️ Choose a Convenient Location
For easy access to tourist attractions, consider a hotel located within two blocks of a subway station. Staying in New Jersey or far from Manhattan could mean losing up to two hours each day commuting. Booking.com’s location ratings provide a helpful indicator of the neighborhood’s convenience.
💰 Save on Accommodation Costs
Lower prices often come at the expense of comfort. You can save money by opting for rooms with shared bathrooms, while included breakfasts can significantly increase your overall cost.
For groups of four, booking a single room for all four people is generally more cost-effective than reserving two double rooms.
🧾 Not All Prices Include Taxes
Some accommodation providers advertise prices excluding taxes and other fees.
As of January 23, 2025, accommodations in New York City are subject to an 8.875% state tax and a 5.875% city tax. The total tax rate is 14.75%. Additionally, there is a daily city occupancy tax of $4.00 per room and a hotel unit fee of $1.50 for the state of New York.
At higher-end accommodations or in prime locations, you may encounter a “resort fee” for each night, similar to the practice at hotels in Las Vegas.
On Booking.com, prices usually include all taxes and fees. However, when prepaying for a reservation, only the room rate is charged upfront, with taxes and fees payable upon arrival.
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Budget Hotels in New York
For budget accommodations in New York, you’ll need to look beyond Manhattan’s borders, as the most expensive hotels are typically located around Midtown. When choosing a hotel, pay close attention to subway access and travel distance to Manhattan. For example, accommodations in nearby Jersey City are usually more affordable, though the commute to Times Square can take 30–60 minutes, depending on traffic.
The cheapest hotels in New York often have ratings below 7.0 on Booking.com. Be prepared for lower standards of cleanliness and amenities—these options are generally suitable for overnight stays only. I recommend choosing accommodations with at least 100 reviews, as fewer reviews often lead to subsequent rating drops.
For couples, renting an entire room is usually more cost-effective. Solo travelers may find hostels to be a better option. I last updated these hotel recommendations on January 23, 2025.
1️⃣ Nap York Central Park Sleep Station
✔️ Nap York Hostel is just a 5-minute walk from Central Park, with the nearest subway station only a minute away. Although it’s one of the cheapest accommodations in New York, it boasts a great Booking.com rating of 8.2/10. Guests praise its newly renovated facilities, friendly staff, and relatively private rooms.
❌ Most negative reviews mention the air conditioning, which struggles to heat rooms adequately in winter and cool them effectively in summer.
2️⃣ HI New York City Hostel
✔️ Located in the Upper West Side, HI New York City Hostel is just one block from a subway station. It’s a one-minute walk to Broadway Street and a 10-minute walk to Central Park. With an excellent Booking.com rating of 8.3/10, the hostel offers 24/7 reception, good value for money, and clean rooms. Private rooms for four people are available.
❌ Most complaints from past guests concern noisy, overly strong air conditioning.
3️⃣ The Harlem Cascades
✔️ With a rating of 8.4/10, The Harlem Cascades is centrally located in the heart of Harlem, near subway stations, supermarkets, and several restaurants. Guests appreciate its excellent location, clean rooms, and comfortable beds.
❌ Some reviews mention noisy air conditioning and less reliable Wi-Fi connectivity.
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Best Hotels in New York for Value
If you’re not set on the cheapest hotels available, I’ve selected a few recommendations offering an excellent balance of price and comfort. All three hotels are located in central Manhattan near popular tourist attractions and have above-average ratings.
1️⃣ TownePlace Suites by Marriott New York Manhattan/Times Square
✔️ These recently renovated suites are just a 3-minute walk from Times Square. All rooms include a continental breakfast in the price, and guests consistently praise the excellent location and clean rooms. The rooftop terrace provides a stunning view of the skyscrapers. The suites have a Booking.com rating of 8.3/10.
❌ Guest criticisms mainly concern the small room sizes and limited breakfast options.
2️⃣ The Wall Street Inn
✔️ The Wall Street Inn, a three-star hotel, is located in the southernmost part of Manhattan in a historic 1920s building. Staying here feels like stepping into an American movie, with fabric wallpaper adorning some walls and a traditional elevator adding to the charm. The hotel has a Booking.com rating of 8.3/10, and some rooms include breakfast in the price.
❌ A significant number of negative reviews mention the limited breakfast selection, which doesn’t change over time.
3️⃣ Club Quarters Hotel World Trade Center, New York
✔️ This four-star hotel in the Financial District has a Booking.com rating of 8.2/10. Some rooms and the rooftop terrace offer beautiful city views. The One World Trade Center is just two city blocks away. Guests often praise the great location, convenient subway access, and friendly staff.
❌ Common complaints include the lack of breakfast options and small room sizes.
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Luxury Hotels in New York
Five-star and boutique hotels known for their exceptional service and outstanding guest reviews are primarily located around Central Park. New York boasts representation from renowned chains such as Sofitel, Park Hyatt, Marriott, Ritz-Carlton, Four Seasons, and Mandarin Oriental. Even if you’re not planning to stay, these hotels are worth exploring through photos alone.
1️⃣ The Plaza Hotel
✔️ “The Plaza Hotel, New York’s most elegant hotel. Guests and the greatest personalities Ding Dang Dong reside in the world-famous Plaza Hotel…” You too can stay at the hotel made famous by Home Alone 2. Located at the edge of Central Park and Fifth Avenue, it boasts a Booking.com rating of 8.5/10. Room amenities include 24-karat gold-plated lamps and rainfall showers, with a renowned Palm Court restaurant on site.
❌ Most criticism revolves around the high cost of rooms and meals at the restaurants. Some guests also mention slow elevators in negative reviews.
2️⃣ The Wallace Hotel
✔️ The five-star Wallace Hotel has a stellar Booking.com rating of 9.3/10 and is surprisingly affordable for its class. Located in the Upper West Side, the hotel offers stunning city views, with Central Park within walking distance. Rooms are newly renovated and relatively spacious, and guests frequently praise the exceptional staff and top-tier cleanliness.
❌ Negative reviews are scarce, but some guests have noted the use of paper cups instead of glasses in the rooms.
3️⃣ Crosby Street Hotel
✔️ The Crosby Street Hotel, rated 9.4/10 on Booking.com, is one of the highest-rated hotels in New York. Located in the charming SoHo district, on a quiet cobblestone street, it offers unique and artistic accommodations, with every room designed as an individual masterpiece. The hotel excels in all categories, earning a 9.9/10 for cleanliness, 9.7/10 for location, and 9.7/10 for staff service. This is a true gem in the heart of New York.
❌ Negative reviews are hard to find for this hotel. One guest mentioned difficulty opening a bottle of water, and another was not a fan of the citrusy avocado toast served for breakfast.
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Airbnb in New York
Short-term rentals under 30 days are prohibited in most cases within New York City unless the owner is present during the stay. This regulation also applies to Airbnb, where many listings consist of standard hostels. For those seeking private accommodations, it’s better to explore options outside New York City, such as in New Jersey.
💬 Do you have your own tips for accommodations in New York? Have you discovered a unique hotel that made your New York trip unforgettable? Feel free to share your recommendations in the discussion.
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