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(New York, NY) — New York City’s Rent Guidelines Board is holding a rare re-vote May 27, 2025 on proposed rent increases.
Last month’s preliminary vote on rent hikes for rent-stabilized apartments called for one-point-seven-five-percent to four-point-seven-five-percent increases on one year leases. People with two-year leases would be hit with four-point-seven-five-percent to seven-point-seven-five percent rent hikes.
One-million New York City apartments are impacted with renters saying, with hikes like that, they’d be priced out of their homes.
A final decision will be made in June. Mayor Adams says the proposed range for two-year leases is too high, and now the Rent Guidelines panel is going back to the drawing board.
