Overview

• Rent Guidelines Board members voted 5–4 to raise stabilized rents by 3% on one-year leases and 4.5% on two-year leases for about one million apartments, effective Oct. 1, 2025.
• Mayor Eric Adams said he was disappointed after having urged the board to adopt the lowest possible increase, while Democratic nominee Zohran Mamdani denounced the hike and reiterated his promise to freeze rents if elected.
• Landlord representatives argued that higher rents are essential to cover escalating repair, maintenance and financing costs on aging buildings or risk a deteriorating housing stock.
• Tenant advocates warned the increases will deepen New Yorkers’ financial strain, citing that rent-stabilized households earn a median income of $60,000 and face vacancy rates below 1%.
• This year’s decision followed an April vote establishing preliminary rent ranges and a rare May revote on two-year lease hikes, underscoring the board’s independent, politically scrutinized process.