Discover the Most Affordable Rentals in Mumbai’s Real Estate Market
While Mumbai is known for its high rental prices, there are still several areas offering affordable options for those on a budget. Explore the cheapest rent options in the city.
MumbaiReal EstateAffordable RentRental MarketSuburbsReal Estate NewsSep 03, 2025
Within Mumbai city limits, some of the more affordable areas include Dahisar, Borivali, Kandivali, Mulund, Bhandup, Nahur, and Vikhroli. Here, renting a 1 BHK apartment typically costs between ₹20,000 and ₹35,000 per month. A 2 BHK in these suburbs ranges from ₹35,000 to ₹60,000, depending on the location and amenities. According to local brokers, these western and eastern suburbs offer the most budget-friendly options for those who want to stay within the city.
For even lower rents, peripheral areas like Navi Mumbai, Thane, and Panvel offer 1 BHK apartments starting at ₹7,000 to ₹20,000. Renters with budgets between ₹10,000 and ₹20,000 can explore micro-markets such as Thane, Mira Road, Bhayander, Kalyan, or Dombivli. However, brokers caution that living in these areas may require a daily commute of two to three hours if your workplace is in Central Mumbai or BKC.
Manisha Verma (name changed), a Central Mumbai resident, is on the hunt for a spacious 5 BHK apartment with a monthly budget of ₹7 lakh. Experts say such cases represent only about 5% of Mumbai’s rental market, with most transactions taking place in the suburbs. “I have a client whose budget is ₹7 lakh for a 5 BHK apartment with balconies and premium amenities. I recently showed her an apartment in a Mahalaxmi high-rise, but since the building did not offer balconies, she rejected it. The Mumbai rental market can get tricky, even with a budget of ₹7 lakh a month,” said Asif Shaikh, a broker specialising in the city’s luxury real estate.
While the highest budget rentals represent a niche market, the majority of renters in Mumbai are looking for more affordable options. Real estate consultants recommend exploring the western and eastern suburbs for the best value for money. These areas not only offer lower rents but also provide a good quality of life with access to essential amenities and public transport.
Frequently Asked Questions
What are the most affordable areas for rent in Mumbai?
Some of the most affordable areas for rent in Mumbai include Dahisar, Borivali, Kandivali, Mulund, Bhandup, Nahur, and Vikhroli. These areas offer 1 BHK apartments for between ₹20,000 and ₹35,000 per month.
Where can I find rental apartments under ₹20,000 in Mumbai?
For rental apartments under ₹20,000, consider peripheral areas like Navi Mumbai, Thane, and Panvel. Micro-markets such as Thane, Mira Road, Bhayander, Kalyan, or Dombivli also offer affordable options.
What are the average rental prices for 2 BHK apartments in Mumbai's suburbs?
In Mumbai's western and eastern suburbs, the average rental price for a 2 BHK apartment ranges from ₹35,000 to ₹60,000 per month, depending on the location and amenities.
What should I consider when renting in peripheral areas of Mumbai?
When renting in peripheral areas like Navi Mumbai, Thane, or Panvel, consider the daily commute time to your workplace. These areas may require a commute of two to three hours if your workplace is in Central Mumbai or BKC.
What is the typical budget for luxury rentals in Mumbai?
Luxury rentals in Mumbai, such as 5 BHK apartments with premium amenities, can cost around ₹7 lakh per month. These high-budget rentals represent only about 5% of the city's rental market.
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