Rent Guidelines Board

Landlord income up 6 percent as board considers rent adjustments for NYC’s stabilized apartments

Tenant advocates called for a rent freeze during the Rent Guidelines Board final vote on June 30, 2025. Photo courtesy of New York State Tenant Bloc.

March 27, 2026

Landlord income up 6 percent as board considers rent adjustments for NYC’s stabilized apartments

By Devin Gannon

The Rent Guidelines Board (RGB), the nine-member group that decides annual rent adjustments for New York City's one million stabilized apartments, kicked off its annual review of economic conditions for both landlords and tenants this week. During the first of many sessions before a final vote on rent changes this summer, the board on Thursday released a report detailing the 2024 incomes and expenses of the city's rent-stabilized housing stock. According to the data, the net operating income (NOI), or the amount of revenue landlords received after operating costs, rose 6.2 percent between 2023 and 2024 citywide, the third year in a row that NOI increased.
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Policy

NYC rent freeze likely: Mamdani announces six appointees to Rent Guidelines Board

Photo by Niv Rozenberg on Unsplash

February 18, 2026

NYC rent freeze likely: Mamdani announces six appointees to Rent Guidelines Board

By Devin Gannon

Mayor Zohran Mamdani on Wednesday announced the appointment of six members to the Rent Guidelines Board (RGB), making his central campaign pledge of freezing rents for stabilized apartments much closer to reality. The nine-member board, appointed by the mayor, sets the lease guidelines annually for New York City's one million rent-stabilized apartments by considering the economic conditions for tenants and landlords.
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Policy

Adams stacks Rent Guidelines Board, jeopardizing Mamdani’s rent freeze pledge

Credit: Benny Polatseck/Mayoral Photo Office on Flickr

December 19, 2025

Adams stacks Rent Guidelines Board, jeopardizing Mamdani’s rent freeze pledge

By Aaron Ginsburg

With just two weeks left in office, Mayor Eric Adams has appointed and reappointed four members to the city’s Rent Guidelines Board, in an effort to block Mayor-elect Zohran Mamdani’s push for a rent freeze. With these appointments and reappointments, Adams' allies now hold a majority on the nine-member board, which sets rent increases for the city’s one million rent-stabilized apartments.
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Policy

Adams considers stacking Rent Guidelines Board to block Mamdani’s rent freeze pledge

Credit: NYS Tenant Bloc

October 27, 2025

Adams considers stacking Rent Guidelines Board to block Mamdani’s rent freeze pledge

By Aaron Ginsburg

Before leaving office, Mayor Eric Adams is considering stacking the city’s Rent Guidelines Board (RGB) with allies in an effort to block mayoral frontrunner Zohran Mamdani’s rent freeze proposal. As first reported by the New York Post, the mayor could appoint at least six new members to the nine-person board, which determines rent changes for the city's one million rent-stabilized apartments. One of the contenders is reportedly Douglas Elliman real estate agent and reality TV star Eleonora Srugo, who has since told the New York Times she intends to decline the offer to focus on her television career.
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Rent Guidelines Board revotes on rent hikes for NYC’s stabilized apartments, lowers range for two-year leases

Credit: Tyler Donaghy on Unsplash

May 27, 2025

Rent Guidelines Board revotes on rent hikes for NYC’s stabilized apartments, lowers range for two-year leases

By Aaron Ginsburg

The Rent Guidelines Board on Tuesday voted to lower the range of potential rent hikes for New York City's one million stabilized apartments. In a rare redo, the board revised its preliminary range of increases for two-year leases to between 3.75 percent and 7.75 percent, down from the 4.75 percent and 7.75 percent range approved on April 30. All other proposed guidelines, including for one-year leases, remain the same.
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Policy

Rent Guidelines Board backs rent hikes between 1.75% and 7.75% for NYC’s stabilized apartments

Tenants called for a rent freeze during a preliminary vote by the Rent Guidelines Board on April 30. Photo courtesy of New York State Tenant Bloc.

May 1, 2025

Rent Guidelines Board backs rent hikes between 1.75% and 7.75% for NYC’s stabilized apartments

By Aaron Ginsburg

Rent for nearly one million rent-stabilized apartments in New York City will likely rise again, as the city's Rent Guidelines Board (RGB) backs increases for the fourth straight year. In a preliminary vote on Wednesday, the nine-member board voted 5–4 in support of rent increases, ranging between 1.75 and 4.75 percent for one-year leases and 4.75 and 7.75 percent for two-year leases. The first public hearing on the proposed increases is scheduled for May 22, with a final vote expected in late June.
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Policy

Tenant group pushes for rent freeze for NYC’s stabilized apartments

New York State Tenant Bloc launched in January to counter the real estate lobby. Photo courtesy of New York State Tenant Bloc

April 10, 2025

Tenant group pushes for rent freeze for NYC’s stabilized apartments

By Devin Gannon

Tenant advocates are pushing for a rent freeze for New York City's one million stabilized apartments as new data shows that landlords' income has increased as renters continue to struggle with the rising cost of living. The Rent Guidelines Board officially kicked off its annual review of economic conditions for both landlords and tenants to determine adjustments for rent-stabilized apartments. In 2024, the board voted to raise rent for the third consecutive year.
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Policy

Rent to increase for NYC’s one million stabilized apartments for third year in a row

Photo courtesy of Maxim Pierre on Flickr

June 18, 2024

Rent to increase for NYC’s one million stabilized apartments for third year in a row

By Devin Gannon

Rent is going up for about one million regulated apartments in New York City. The Rent Guidelines Board on Monday approved rent hikes of 2.75 percent for one-year leases and 5.25 percent on two-year leases. The increase will affect the leases of about two million New Yorkers and marks the third year in a row that rents on stabilized apartments will increase.
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Policy

Rent Guidelines Board backs rent hikes on NYC’s stabilized apartments for third year in a row

Photo by Andreas M on Unsplash

May 1, 2024

Rent Guidelines Board backs rent hikes on NYC’s stabilized apartments for third year in a row

By Devin Gannon

In a preliminary vote on Tuesday, the Rent Guidelines Board (RGB) backed rent hikes for New York City's roughly one million rent-stabilized apartments for the third year in a row. The nine-member board, appointed by the mayor, approved with a vote of 5-2 a motion to increase rents between 2 percent and 4.5 percent on one-year leases and between 4 percent and 6.5 percent on two-year leases. The two members of the board representing tenants abstained from voting and walked out of the meeting in protest. A final vote on the rent adjustment takes place in June.
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Policy

Rent hikes between 2.5% and 7% recommended for NYC’s stabilized apartments

Image courtesy of Brandon W on Unsplash

April 19, 2024

Rent hikes between 2.5% and 7% recommended for NYC’s stabilized apartments

By Aaron Ginsburg

Rent for millions of New Yorkers living in rent-stabilized units will likely increase for the third year in a row. The Rent Guidelines Board on Thursday released an annual report recommending a 2.5 percent to 4 percent rent hike for one-year leases and a 4 percent to 7 percent rent hike for two-year leases in rent-stabilized buildings, based on the rising costs of building maintenance, which jumped roughly 4 percent from April 2023 to March 2024. A public meeting will be held on April 25, followed by a preliminary vote on the proposed rent increases on April 30.
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Policy

NYC’s stabilized apartments to see rent hike for second year in a row

By Aaron Ginsburg

Rent will increase for the roughly two million New Yorkers who live in rent-stabilized apartments for the second year in a row. On Wednesday, the Rent Guidelines Board, the nine-member panel responsible for adjusting rent for the city's rent-stabilized apartments, voted 5 to 4 in favor of raising rents on one-year leases by 3 percent and on two-year leases by 2.75 percent for the first year and 3.2 percent for the second year. The rent increases apply to leases starting October 1, 2023.
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Policy

Rent increase between 2% and 5% likely for NYC’s stabilized apartments

Photo by Avi Werde on Unsplash

May 3, 2023

Rent increase between 2% and 5% likely for NYC’s stabilized apartments

By Devin Gannon

The roughly two million New Yorkers who live in rent-stabilized apartments will likely see rents go up by the largest percentage in 10 years. In a preliminary vote on Tuesday, the Rent Guidelines Board, a nine-member panel responsible for adjusting the cost of rent for stabilized apartments, approved increases on one-year leases between 2 and 5 percent and increases on two-year leases between 4 and 7 percent. A vote determining the final increases will take place in June; the board historically has adopted rent hike proposals that fall within the preliminary range.
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Policy

NYC board weighs biggest rent hike for stabilized apartments in nearly two decades

Image courtesy of Maxim Pierre on Flickr

April 21, 2023

NYC board weighs biggest rent hike for stabilized apartments in nearly two decades

By Aaron Ginsburg

The panel that determines the percentage landlords are allowed to raise the rent for the roughly one million rent-stabilized apartments in New York City this week discussed a proposal for the most significant hike in nearly two decades. During a meeting on Thursday, the Rent Guidelines Board weighed a proposed 8.25 percent increase for one-year leases and a 15.75 percent increase for two-year leases, as Patch reported. While the board likely won't approve the nearly 16 percent increase, rent hikes are still expected in response to a drop in operating income for landlords.
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Policy

A majority of NYC’s rent-stabilized tenants spent over a third of income on housing last year

Image courtesy of edwardhblake on Flickr

April 14, 2023

A majority of NYC’s rent-stabilized tenants spent over a third of income on housing last year

By Aaron Ginsburg

Most of New York City's one million rent-stabilized tenants paid roughly a third or more of their income on rent in 2022, a new report found. According to the city's Rent Guideline Board's annual "Income and Affordability Study" released on Thursday, more than half of tenants in stabilized apartments spent at least 32.2 percent of their income on rent, as Gothamist first reported. Tenants who spend more than 30 percent of their income on rent are considered rent burdened, according to federal guidelines.
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Policy

NYC’s stabilized apartments will see rent increases of 3.25% and 5%

Photo by Avi Werde on Unsplash

June 22, 2022

NYC’s stabilized apartments will see rent increases of 3.25% and 5%

By Devin Gannon

More than two million New Yorkers who live in rent-stabilized apartments could see their rent increase by the largest percentage in a decade. The Rent Guidelines Board on Tuesday voted to approve a 3.25 percent increase for one-year leases and 5 percent for two-year leases that start on or after October 1. For the roughly one million rent-stabilized apartments, the rent hikes are the highest seen in the city since 2013.
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Policy

Rent Guidelines Board set to approve biggest rent hike for NYC’s stabilized apartments in a decade

Photo by Emiliano Bar on Unsplash

May 6, 2022

Rent Guidelines Board set to approve biggest rent hike for NYC’s stabilized apartments in a decade

By Aaron Ginsburg

Millions of New Yorkers could soon be hit with the biggest rent hike in a decade. In a preliminary 5-4 vote on Thursday, the city's Rent Guidelines Board (RGB) voted to increase rents on stabilized apartments between 2 and 4 percent for one-year leases and between 4 and 6 percent for two-year leases. If approved, the rent hikes would be the largest since 2013 when there was a 4 percent increase for one-year leases and a 7.75 percent increase for two-year leases. A final decision by the board is expected in June.
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Policy

Rent Guidelines Board recommends increases between 2.7% and 9% for rent-stabilized units

Image courtesy of Creative Commons

April 14, 2022

Rent Guidelines Board recommends increases between 2.7% and 9% for rent-stabilized units

By Aaron Ginsburg

The city's Rent Guidelines Board on Thursday released a report recommending a rent hike for rent-stabilized apartments due to an increase in operating costs for landlords over the last 12 months. According to the agency's 2022 Price Index of Operating Costs report, owners saw costs rise by 4.2 percent. Using three formulas, the board recommended an increase in rent of between 2.7 percent and 4.5 percent for one-year leases and between 4.3 percent and 9 percent for two-year leases. The suggested rent increase comes after the board voted to not raise rents for six months last year and fully freeze rents in 2020.
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Rent Guidelines Board adopts partial rent hike for NYC’s rent-stabilized units

Photo by Rachel Martin on Unsplash

June 24, 2021

Rent Guidelines Board adopts partial rent hike for NYC’s rent-stabilized units

By Devin Gannon

Rents at New York City rent-stabilized apartments will freeze for six months and then increase by 1.5 percent for the next six months, under the proposal adopted by the Rent Guidelines Board (RGB) on Wednesday. The unusual guidelines are meant to serve as a compromise between tenant activists who called for a rent freeze and landlords who wanted increases, as the city continues to recover from the coronavirus pandemic.
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Policy

NYC freezes rent for stabilized apartments

Photo by Goh Rhy Yan on Unsplash

June 18, 2020

NYC freezes rent for stabilized apartments

By Devin Gannon

The Rent Guidelines Board on Wednesday voted to freeze rents for one year for rent-regulated apartments, offering tenants temporary relief in the current economic recession caused by the coronavirus. The nine-member board approved a measure that freezes rent for one-year leases and for the first year of two-year leases, which can increase 1 percent during the second year.
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Policy

What you need to know about the May 1 rent strike

Photo by Avi Werde on Unsplash

April 30, 2020

What you need to know about the May 1 rent strike

By Devin Gannon

With more than a million New Yorkers out of work as a result of the coronavirus pandemic, many tenants will struggle to pay rent on Friday. Hoping to pressure Gov. Andrew Cuomo to cancel rent for the duration of the health crisis, a coalition of housing advocates is leading a statewide rent strike on May 1, with thousands of renters already pledging to skip payments. But landlords, who argue rental income pays for the growing costs of building maintenance, are fighting for relief themselves.
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Rent Guidelines Board recommends increases between 2.5% and 3.5% for rent-stabilized units

Photo by Goh Rhy Yan on Unsplash

April 24, 2020

Rent Guidelines Board recommends increases between 2.5% and 3.5% for rent-stabilized units

By Devin Gannon

A report released on Thursday by the Rent Guidelines Board recommends a rent increase on rent-stabilized apartments to mitigate a surge in operating costs for owners. During the board's first virtual meeting, members reviewed the report, which says rent increases should be between 2.5 and 3.5 percent for one-year leases and 3.3 and 6.75 percent for two-year leases. The recommendation comes as officials and tenant advocacy groups have called for a rent freeze during the coronavirus pandemic, which has put thousands of New Yorkers out of work.
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Policy

De Blasio urges state to act on NYC rent relief proposals

Photo by Daryan Shamkhali on Unsplash

April 13, 2020

De Blasio urges state to act on NYC rent relief proposals

By Devin Gannon

Mayor Bill de Blasio on Monday urged the state to act on a number of rent relief proposals amid the coronavirus pandemic, including a deferment of rents for tenants, the use of pre-paid security deposits in lieu of rent, and an extension of the current moratorium on evictions. The mayor has also called on the Rent Guidelines Board--the entity that determines yearly rent increases for the city's rent-stabilized units--to enact a rent freeze.
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Policy

Rent Guidelines Board approves modest increases for rent-stabilized apartments

Image by Jorbasa Fotografie / Flickr

June 26, 2019

Rent Guidelines Board approves modest increases for rent-stabilized apartments

By Alexandra Alexa

In front of a packed auditorium at Cooper Union’s Great Hall last night, the Rent Guidelines Board voted on rent hikes for the city’s one million rent-stabilized apartments, the New York Times reports. The board voted 5-4 and approved a 1.5% increase on one-year leases and 2.5% on two-year leases. The new rents will kick in on October 1.
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Rent stabilized apartments will see increases of 1.5 and 2.5 percent this year

Photo courtesy of the MET Council on Housing

June 27, 2018

Rent stabilized apartments will see increases of 1.5 and 2.5 percent this year

By Emily Nonko

Last night the Rent Guidelines Board approved rent hikes for tenants in rent-stablized buildings, making this the second year rents for such units have increased. This latest vote by the board allows landlords to charge their rent-stabilized tenants increases of up to 1.5 percent for one-year leases and 2.5 percent for two-year leases. As the New York Times points out today, "the increases were seen as modest given the history of the nine-member board." Still, these are the steepest permitted increases since 2013 -- news met with jeers from housing advocates at a public hearing held at Cooper Union.
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June 28, 2017

The city approves rent increases for rent-regulated apartments

By Devin Gannon

Tenants leasing a rent-regulated apartment, buildings built before 1974 with six or more units, will soon see their rents rise for the first time in years. New York City’s Rent Guidelines Board voted to increase rent for regulated apartments on Tuesday, allowing an increase of 1.25 percent for one-year leases and 2 percent on two-year leases, set to begin Oct. 1. As the New York Times reported, the board, which had voted two years in a row to freeze rents, found that a 6.2 percent increase in operating costs for landlords in 2016 warranted this year’s increase.
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