Overview

• The nine-member board—comprising two landlord representatives, two tenant advocates and five public appointees—voted 5-4 to authorize the rent increases.
• Mayor Eric Adams urged the RGB to adopt minimal hikes, warning that a full rent freeze could undermine essential repairs and jeopardize tenant safety.
• Democratic mayoral nominee Zohran Mamdani campaigned on a “freeze the rent” pledge and has vowed to appoint future board members who would oppose any increases.
• In a rare May 27 revote, the board lowered its proposed two-year lease floor from 4.75% to 3.75% after tenant testimony on affordability pressures.
• Advocates cautioned that landlords face a 6.3% rise in operating costs, while tenants earning a median $60,000 confront steep rent burdens against a 1.4% vacancy rate.