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NYC Rent Board Proposes Up to 7.75% Hike for Stabilized Apartments

The preliminary vote sets nonbinding rent increase ranges for one- and two-year leases, with a final decision expected in June as tenant protests and landlord concerns intensify.

Protesters against rent increase rallying before the annual preliminary vote of the Rent Guidelines Board at the LaGuardia Performing Arts Center in Queens, Wednesday, April 30, 2025. (Shawn Inglima/New York Daily News)
Tenants pack the auditorium at LaGuardia Community College on Wednesday night, waving signs and noisemakers to demand a rent freeze during the Rent Guidelines Board's preliminary vote.
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Overview

  • The Rent Guidelines Board approved preliminary rent increase ranges of 1.75–4.25% for one-year leases and 4.75–7.75% for two-year leases during a contentious vote.
  • The decision affects approximately one million rent-stabilized apartments, housing two million New Yorkers, with final rates to be decided in June.
  • Tenant advocates protested the proposed increases, citing affordability concerns for rent-burdened households with median incomes of $60,000, while landlord groups argued for higher hikes to cover rising costs.
  • The board's vote has become a focal point in the Democratic mayoral primary, with several candidates calling for a rent freeze to address the city's housing crisis.
  • Mayor Eric Adams and landlord representatives emphasized the need to consider the financial challenges of small property owners, warning against policies that could harm building maintenance and viability.