institutional access

You are connecting from
Lake Geneva Public Library,
please login or register to take advantage of your institution's Ground News Plan.

Published loading...Updated

NYC’s Rent-Stabilized Apartment Prices to Rise at Least 3%

NEW YORK CITY, JUL 1 – The board narrowly approved rent hikes amid rising landlord costs and tenant affordability concerns, affecting nearly 1 million stabilized apartments, with a 5-4 vote reflecting political divisions.

  • New York City’s Rent Guidelines Board approved a rent increase of 4.5% for two-year leases and 3% for one-year leases, affecting nearly 1 million rental units in a narrow 5-4 vote.
  • Mayor Eric Adams expressed disappointment at the board's decision, having requested smaller increases of 1.75% and 3.75%.
  • Democratic nominee Zohran Mamdani criticized the rent hike, stating it would push New Yorkers out of their homes.
  • The Rent Guidelines Board's decision reflects ongoing tensions between pro-renter and pro-landlord interests in New York City amid the ongoing housing crisis.
Insights by Ground AI
Does this summary seem wrong?

19 Articles

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/yearSubscribe

Bias Distribution

  • 50% of the sources lean Left
50% Left

Factuality 

To view factuality data please Upgrade to Premium

Ownership

To view ownership data please Upgrade to Vantage

NY1 broke the news in New York, United States on Monday, June 30, 2025.
Sources are mostly out of (0)

You have read 1 out of your 5 free daily articles.