US EditionBoard proposes another rent increase for NYC apartments
- On Wednesday night, the panel responsible for regulating rent-stabilized apartments in New York City approved a proposal to raise rents for nearly one million units across the city.
- The vote continued a five-year trend of rent hikes driven by rising operating costs, while tenants and advocates argued the increases disproportionately harm low-income renters.
- The proposed rent hike range for one-year leases is 1.75% to 4.75%, reflecting a 6.3% rise in landlords' expenses including property taxes, insurance, and utilities.
- Mayor Eric Adams called the decision a "challenging decision" and emphasized the need for broader housing solutions beyond the board's vote to keep housing affordable.
- If approved in June, the rent increases would take effect this fall, raising concerns that more tenants could face displacement amid New York City's record-low affordable housing and rising homelessness.
16 Articles
16 Articles
Rent-Stabilized Tenants In NYC Could See Increases Up To 7.75%, Pending June Vote
Rent-stabilized tenants in New York City could see their monthly housing costs rise this fall, after the city’s Rent Guidelines Board voted Wednesday in favor of proposed rent increases for one- and two-year leases. The board approved a range of potential hikes: 1.75% to 4.75% for one-year leases and 4.75% to 7.75% for two-year leases. The final rates will be determined in a binding vote scheduled for June. If approved, the changes would apply t…
NYC Rent-Stabilized Apartments Could See Hikes Up to 7.75%
NEW YORK – Millions of New Yorkers living in rent-stabilized apartments could face rent increases this fall after the city’s Rent Guidelines Board voted Wednesday to advance hikes ranging from 1.75% to 4.75% for one-year leases and 4.75% to 7.75% for two-year leases. A final vote is scheduled for June, with changes taking effect for […]
Board proposes another rent increase for NYC apartments
NEW YORK CITY (PIX11) – The board regulating New York City’s rent-stabilized apartments has proposed another rent increase for one and two-year leases. In a preliminary vote Wednesday, the nine-person Rent Guidelines Board proposed setting rent increases between 1.75% and 4.75% for one-year leases and between 4.75% and 7.75% for two-year leases. More Local News It’s the first window into what the Rent Guidelines Board will do in the summer…
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