Overview

• One-year rent-stabilized leases now rise 3% and two-year leases 4.5% for contracts starting Oct. 1, 2025 through Sept. 30, 2026.
• The changes affect more than one million New Yorkers living in rent-stabilized housing citywide.
• The Rent Guidelines Board approved the increase in a close 5–4 vote, and its nine members are appointed by Mayor Eric Adams.
• Tenant groups marched to Gracie Mansion to oppose the hikes and to show support for Democratic nominee Zohran Mamdani.
• Candidates split on policy direction, with Mamdani pledging a rent freeze, Andrew Cuomo rejecting a blanket freeze, and Curtis Sliwa favoring constrained increases, while any freeze could not take effect before the October 2026 lease cycle.