See every side of every news story
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.

  • The New York City Rent Guidelines Board voted 5-4 to raise rents by 3% for one-year leases and 4.5% for two-year leases, despite objections from tenants and lawmakers.
  • Mayor Eric Adams requested the board adopt the lowest increases but expressed disappointment with the higher rates approved.
  • Legal Aid warned that the rent increase will have catastrophic consequences for thousands of individuals and families facing an affordability crisis.
  • Tenant advocates criticized the decision, stating that it would worsen the affordability crisis and lead to increased homelessness and evictions among low-income New Yorkers.
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)