The 5 Most Affordable Hotels Near Central Park With Rave Reviews

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Reigning supreme as the most-visited city in the U.S., it's no secret that New York City is a dazzling destination that's on a lot of travelers' bucket lists. However, with the sky-high airfare, pricey tourist traps, and costly overnight accommodations, the Big Apple is also one of the country's most expensive tourist destinations, and crossing it off your bucket list may come at quite a price.

According to The New York Times, as of September 2024, the average hotel room price in the city was $417 a night. During the peak holiday season, some hotel prices are known to soar into the $800 range and beyond. The rates can be particularly extravagant at hotels near Central Park, where a "Home Alone 2"-inspired Christmas at The Plaza Hotel will cost you a whopping $2,300 a night. So, it goes without saying that if you're searching for the cheapest way to enjoy your New York City vacation, saving money on a hotel can make a world of difference.

If you have your heart set on the Central Park area, and you're worried about finding affordable accommodations, don't fret. Depending on the season, you can book a sweet NYC retreat for under $200 a night. It can be overwhelming to know where to start your hotel search, but booking your stay in the city doesn't have to be a big hassle. From humble hostels to chic boutiques, we've compiled this list of five hotels near Central Park with affordable rates and rave reviews, so you don't have to.

Even if you can't swing a night at The Plaza, you can still enjoy a fancy stay steps away from Central Park at the Arthouse Hotel, which is situated just a half-mile from the scenic park named the best tourist attraction in America. Timing is everything when booking affordably. In the months just after the holiday season, you can book a room for as low as $175 a night, which is a small price to pay for the hotel's four-star accommodations. Plus, if you book with the special offer available on the hotel website, you can save 20% on weekday stays.

Located on the Upper West Side, the boutique-style hotel is set in a historic 100-year-old building, fusing vintage vibes with a contemporary atmosphere. Beyond its modern guest rooms, which range from cozy 240-square-foot standards to 500-square-foot penthouses with private balconies, the Arthouse flourishes in its beautiful communal spaces. Reviewers on Tripadvisor consistently praise the cocktail bar in the lobby. Evoking the atmosphere of a 1920s speakeasy, the Arthouse Bar serves signature drinks, shareable pub food, and jazz music on select evenings. Happy hour runs from 5 p.m. to 7 p.m. on weekdays, in case you're looking to save a little on sips. The hotel is also connected to Serafina, a beloved Italian restaurant with casual-style charm and delicious homestyle dishes.

Of course, location and affordability are the main attractions. Located just two blocks from the 79th Street subway station, the hotel grants easy access to adventures around the city, as well as attractions within walking distance, like the American Museum of Natural History. And, as one Tripadvisor traveler raves, "The Arthouse is surprisingly affordable for an Upper West Side boutique hotel ... If you've never visited, you owe it to yourself and family to try [it]." 

If you want to save big money in the Big Apple, you can follow Rick Steves' budget-friendly advice for finding travel accommodations by booking a hostel. While hostels aren't for everyone, they can be especially appealing if you're a solo traveler looking to make friends during your vacation. Plus, they're usually dirt cheap.

With rooms starting at just under $60 a night, HI New York City Hostel is extremely affordable for the Upper West Side. Take your pick of accommodations, ranging from 4-bed to 14-bed dorm rooms with all-men, all-women, and all-gender options. Each room is outfitted with simple decor, storage lockers, and comfortable bunk beds with curtains for added privacy. If you'd rather have your own space and bathroom, it also offers private rooms. However, at over $300 a night, it will cost you quite a bit more. Regardless of which room you choose, you'll have access to free activities, which include Central Park walking tours, comedy nights, and karaoke outings. Guests also appreciate kicking back at the hostel, with one Tripadvisor user writing: "[This is] one of the best hostels I've ever stayed at ... The common areas are nice and cozy and the outside sitting area is great and really pretty after dark with all of the lights strung up." 

When wandering beyond the hostel, you'll find yourself within walking distance of the park, restaurants, bagel shops, and other local gems. You'll also be steps away from the 103rd Street subway station, making it easy to explore beyond the neighborhood. Nestled in a red brick, Victorian-style building with garden-lined outdoor spaces in the heart of the Upper West Side, not only does the hostel offer a convenient and affordable stay, it offers a beautiful one.

Tucked into the center of Midtown, Moderne Hotel NYC is in a prime location. An eight-minute walk north will land you in beautiful Central Park, while a 10-minute stroll southeast will take you to the Museum of Modern Art. If you're planning to venture farther, the 57th Street subway station is just one block over. Perhaps even more appealing than the location is the price. At The Plaza Hotel a half-mile away, the rates are nothing short of extravagant, yet at Moderne Hotel NYC, you can reserve a room for as little as $147 a night.

Set in a boutique, art-themed facade, Moderne Hotel NYC makes for a stylish stay in Manhattan. Outfitted with chic decor and walls adorned with abstract pop art, the hotel fuses contemporary style with hospitable charm. As one Tripadvisor reviewer raves, "The atmosphere was stylish and inviting, and the service was top-notch. ... Highly recommend for anyone looking for a great spot with excellent service and a relaxed vibe."

When you're not in your room, you can unwind in the 24/7 guest lounge, whose posh mid-century-modern furnishings, flat-screen TVs, and complimentary refreshments combine comfort and class. Good news if you're traveling with a furry companion: The hotel is pet-friendly, and nearby Central Park provides the perfect puppy playground. Another amenity that can be hard to come by in NYC is parking. If you're driving on your big-city vacation, you'll have the convenience of a secured parking lot adjacent to the hotel, which offers discounted 24-hour parking with your stay. Checking all the boxes of affordability, comfort, location, and style, Moderne Hotel is a strong option for your next NYC retreat.

If you want the affordability of a hostel, but you want a little extra privacy, Kama Central Park Hostel may be your dream stay. Offering petite luxury lodgings starting at just $60 a night, Kama's sleek sleeping pods have everything you need for a comfortable Manhattan retreat. Choose from female-only, male-only, or mixed-gender rooms, where each cozy capsule comes with ensuite amenities, including a USB charging port, a reading light, and an air filtration system. The rooms accommodate two to 10 guests, with private pods stacked like bunk beds, and shared bathrooms. If you want more room to spread out, you can spring for a private suite. Starting at $149 a night, the private suite is a stylishly appointed room featuring a queen-sized bed and its own bathroom.

Situated a two-minute walk from Central Park, you'll have New York City's tree-lined oasis in your backyard, and a world of Manhattan attractions and amenities nearby. As one former guest writes on Tripadvisor: "The location is amazing. It is about a 3-minute walk to the B/C trains at 103rd or 110th St. There are lots of bodegas, restaurants, and services (nail salons, laundromats) within a short walk ... I would gladly stay here again." 

If you don't want to stray far for breakfast, you can head to Kama's onsite restaurant, Jazz Eatery. Open daily from 7 a.m. to 3 p.m., the cozy cafe offers an array of breakfast classics, sandwiches and burgers, fresh-baked pastries, and caffeinated beverages to enjoy. Catering to travelers looking to connect, Kama also hosts a variety of social events, including ice-skating outings, pub crawls, and sunset walks across the Brooklyn Bridge.

If you prefer one-of-a-kind stays with quirky art and historic charm instead of trendy chain hotels with modern amenities, The Harlem Flophouse is for you. Nestled less than a mile north of Central Park (about a 17-minute walk) in Harlem, an underrated New York neighborhood packed with history and must-eat restaurants, The Harlem Flophouse is a Victorian-style gem that dates back to the early 1900s. During the Harlem Renaissance, it served as an affordable haven for jazz musicians, writers, poets, and an array of creative types. Boasting four uniquely decorated rooms, each one is named after 20th-century icons, such as African-American author Chester Himes and esteemed jazz harpist Corky Hale. What makes the charming guest rooms even more appealing is that they start at just $150 a night.

The price is right, but the atmosphere is the main attraction at The Harlem Flophouse, where stepping inside effortlessly transports you to 1920s New York. Every inch is adorned with antique decor and artwork, and it isn't uncommon to hear strains of jazz music or the soft meows of a cat drifting through the house. On select evenings, live jazz and blues concerts commence in the living room, so you needn't wander far for entertainment. However, with legendary venues like the Apollo Theater within walking distance, you'll definitely want to get out and explore the neighborhood. For adventures outside of Harlem, the 125th Street subway station is just a seven-minute walk away.

Rocking a 4.4-star rating on Tripadvisor, a majority of the reviews are sparkling. One reviewer writes, "The house had so [many] fabulous touches Iike antique furniture and funky interior decor to give the feel of an old speakeasy. ... The whole experience was like going back in time in the best possible way." The final verdict? The Harlem Flophouse is certainly not a flop.

We know that New York City on a budget can be tricky, especially if you're booking a hotel in an area as popular as Central Park. To give you this list of affordable accommodations, we ran a Google Travel search, filtering results within a 1-mile radius of Central Park and baseline rates under $200 a night. Since hotel prices can skyrocket during peak travel months (typically May through December), we plugged in low-season travel dates between January and March to determine the lowest commonly available rates.

After finding hotels that met the cost and location criteria, we plucked out the ones with rave reviews from travelers. As a result, each of the final selections has an average rating of at least 4 stars on Tripadvisor. Recognizing that travelers have diverse preferences and travel styles, we ensured an eclectic mix of accommodations, including hostels, contemporary boutique hotels, and historic gems. We hope this list helps you find your dream hotel in NYC at an even dreamier price.