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OP look into weehawken - very affordable and 10-15 minute ride on bus into the city. My friends who swear by it get home faster from the LES than I do to the UWS
How cheap are you looking for? House or apartment?
Check out downtown Jersey City -- it's a 5 minute path ride to downtown and 20 minutes to Chelsea.
Move to Hoboken , 7 mins path
Brooklyn, rent there is still dirt cheap, ~ 40 minutes of commute