Summary
- New York City’s Rent Guidelines Board voted 7–1 on Thursday to freeze rents for about one million regulated apartments for up to two years, delivering a major victory for Mayor Zohran Mamdani just months into his term.
- Hundreds of tenants cheered the outcome at a packed Manhattan auditorium, celebrating what Mamdani called “a historic victory for New York City tenants.” The freeze fulfills a central campaign promise of the democratic socialist mayor, who appointed six of the board’s nine members since taking office in January.
- Tenant groups had demanded a freeze or even rent reductions, citing stagnant wages and rising costs.
New York City’s Rent Guidelines Board voted 7–1 on Thursday to freeze rents for about one million regulated apartments for up to two years, delivering a major victory for Mayor Zohran Mamdani just months into his term.
The decision sets rent increases at zero for one- and two-year leases beginning in October. Hundreds of tenants cheered the outcome at a packed Manhattan auditorium, celebrating what Mamdani called “a historic victory for New York City tenants.”
The freeze fulfills a central campaign promise of the democratic socialist mayor, who appointed six of the board’s nine members since taking office in January. Critics, however, accused him of stacking the board. Christina Smyth, a landlord representative, resigned hours before the vote, saying the outcome was predetermined.
Tenant groups had demanded a freeze or even rent reductions, citing stagnant wages and rising costs. Landlord associations warned the decision would make it harder to maintain buildings, forcing them to raise rents on unregulated apartments to offset losses.
The average monthly rent for a regulated apartment is $1,599, compared to $3,950 for newly leased market-rate units, according to city data.
The vote capped a strong week for Mamdani, who also celebrated victories by three left-wing congressional candidates in Democratic primaries.
