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.
19 Articles
19 Articles
NYC’s Rent Guidelines Board approves hike for rent-stabilized apartments by up to 4.5%
New York City's Rent Guidelines Board approved a hike for nearly 1 million rent-stabilized apartments by up to 4.5% set to go into effect on or after Oct. 1 in spite of public disapproval and calls for a rent freeze.
Rent Board Approves New Increases for NYC’s Stabilized Apartments
NEW YORK – The Rent Guidelines Board on Monday night approved new rent increases for New York City’s nearly two million rent-stabilized tenants — marking the fifth year in a row of rising costs. Join our WhatsApp group Subscribe to our Daily Roundup Email In a 5-4 vote following heated debate and protests, the board […]
N.Y.C. Rent Board Approves 3% Increase, Rejecting Calls for Freeze
The Rent Guidelines Board approved at least 3 percent increases for New York City’s one million rent-stabilized apartments, rejecting the call for a rent freeze that helped Assemblyman Zohran Mamdani surge to the lead in the Democratic mayoral primary last week. Mayor Eric Adams, who appointed the members of the board, has supported rent increases for rent-stabilized apartments every year since he took office. Mr. Mamdani, likely to be the Democ…
Coverage Details
Bias Distribution
- 50% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium