NYC rent board advances possible rent hikes for stabilized apartments
After a heated meeting filled with chants, frustration and rallies from both tenants and landlords, the board approved a preliminary range of possible rent increases.
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New York City’s Rent Guidelines Board took a step Thursday night toward deciding how much rents could increase this year for millions of people living in rent-stabilized apartments.
After a heated meeting filled with chants, frustration and rallies from both tenants and landlords, the board approved a preliminary range of possible rent increases.
The proposal would allow rents to go up anywhere from 0% to 2% for one-year leases and 0% to 4% for two-year leases.
The vote is not final, but it gives New Yorkers an early look at where rent increases could land later this summer.
The meeting quickly turned tense.
At one point, people inside the room chanted “shame on you” after a proposal that would have kept rents flat for both one- and two-year leases failed.
Another proposal that would have allowed much steeper increases — up to 5.5% for one-year leases and 8% for two-year leases — also failed.
In the end, the board settled on a middle-ground proposal that upset people on both sides.
Outside the meeting in Long Island City, tenant groups rallied for a rent freeze or even rent cuts, saying many New Yorkers are already struggling with high grocery prices, rising bills and the overall cost of living.
Some tenant advocates argued that even a small rent increase could push families closer to losing their housing.
Landlord groups also pushed back against the vote, saying small property owners are dealing with rising insurance costs, taxes, repairs and utility bills.
The debate is also drawing attention because Mayor Zohran Mamdani campaigned on a promise to freeze rents for stabilized apartments.
After Thursday night’s vote, the mayor released a statement saying he was encouraged the board is considering affordability as the process moves forward.
About 2.4 million New Yorkers live in rent-stabilized apartments across the city.
The Rent Guidelines Board will now hold several public hearings before taking a final vote on June 25.
Residents in Brooklyn and the Bronx will each get a chance to speak directly to the board during upcoming hearings:
Bronx public hearing: June 8 at Hostos Community College from 5 to 8 p.m.
Brooklyn public hearing: June 11 at New York City College of Technology in from 7 to 10 p.m.
