NYC Rent Board Approves Rent Increases for Stabilized Apartments
The New York City Rent Guidelines Board has voted to raise rents for over a million rent-stabilized apartments, approving a 3% increase for one-year leases and 4.5% for two-year leases. The decision, reached by a narrow 5–4 vote late Monday, follows months of debate over how to balance tenant affordability and rising costs for landlords • Full Story
The new rates take effect for leases signed between October 1, 2025, and September 30, 2026.
Tenant advocates had pushed for a rent freeze amid record-high rents and a historic shortage of affordable apartments, while landlords argued they faced surging expenses for insurance, maintenance, and taxes. The board considered higher increases before ultimately settling on mid-range adjustments.
The rent hikes have become a flashpoint in the city’s mayoral race, where candidates have clashed over whether to freeze rents or allow larger increases to sustain building upkeep.
Landlords and tenants alike expressed disappointment with the outcome, warning it would either deepen housing insecurity or accelerate financial strain on older rent-stabilized buildings.
The decision sets the stage for further political battles as New York grapples with a severe housing crisis.
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