The city’s Rent Guidelines Board is set to take a final vote Thursday night on potential lease adjustments for around 1 million rent-stabilized apartments.
The meeting, scheduled for 7 p.m., will be held at El Museo del Barrio on Fifth Avenue between East 104th and 105th streets in Manhattan, with doors opening at 6 p.m. Members of the public can attend in person, but officials said noisemakers will not be permitted in order to prevent disruptions.
What You Need To Know
Rent Guidelines Board meets Thursday at 7 p.m. for final vote on rent changes
The board previously set preliminary range of 0%–2% for one-year leases and 0%–4% for two-year leases
About 2.4 million New Yorkers live in rent-stabilized housing
The vote comes after weeks of public hearings in which tenants and property owners sharply disagreed over whether rents should remain flat or increase.
Last month, the board signaled that it was considering a possible rent freeze. Members voted for a range of 0% to 2% increases on one-year leases and 0% to 4% increases on two-year leases signed on or after Oct. 1.
A majority of the nine-member board — six members — were appointed by Mayor Zohran Mamdani, who campaigned on a promise to freeze rents for stabilized tenants across the city. About 2.4 million New Yorkers live in rent-stabilized units.
Tenants have repeatedly called for a rent freeze, warning that even modest increases could push longtime residents out of their neighborhoods.
Property owners, meanwhile, argue that frozen rents would make it harder to maintain aging buildings amid rising labor and maintenance costs. The 2026 Rent Guidelines Board price index found that the cost of operating buildings containing rent-stabilized units increased by 5.3% this year.
Last summer, the board approved rent hikes of 3% for one-year leases and 4.5% for two-year leases.