NYC Moves Closer to Enacting Rent Freeze Promised by Mamdani

New York City’s Rent Guidelines Board voted to set a 0% to 2% range for rent increases for roughly one million stabilized apartments, putting Mayor Zohran Mamdani’s pledged freeze within reach.

The nine-member panel approved the preliminary range for one-year leases Thursday and set a range of 0% to 4% for two-year leases. The initial vote doesn’t set rents. A final decision will be made in June by the board, which will choose one percentage within the range as the limit for rent hikes.