The New York City Rent Guidelines Board voted on Thursday to freeze rents for approximately one million rent-regulated apartments for up to two years, delivering on a central campaign promise of Mayor Zohran Mamdani early in his term. The 7-1 vote sets rent increases at zero for both one-year and two-year leases starting in October.
Hundreds of tenants packed a Manhattan museum auditorium, cheering and blowing whistles as the decision was announced. Mayor Mamdani called it a historic victory for tenants, stating, 'This is the relief that working people across our city deserve.'
Board Deliberation and Context
The vote concluded a weeks-long annual process determining how much landlords can raise rents for rent-stabilized apartments, which house about a quarter of New Yorkers. The board considers factors such as wages, inflation, maintenance costs, taxes, and landlords' incomes.
According to the board's 2025 study, the average monthly rent for a regulated apartment is $1,599, compared to the city's median rent of $3,950 for a newly leased apartment, as reported by listings agency StreetEasy.
Political Shift and Board Appointments
Mayor Mamdani, a democratic socialist focused on affordability, has appointed six of the board's nine members since taking office in January, selecting individuals he believes are sympathetic to tenants. This shift in composition drew criticism from landlord representatives.
Hours before the vote, Christina Smyth, a landlord representative appointed by Mamdani's predecessor, resigned, accusing the board of being biased and predetermined. 'The rebuilt board was required to deliver a rent freeze. Everything since has been theater,' she said. Board Chair Chantella Mitchell, a Mamdani appointee, defended the board's independence and integrity.
Landlord and Tenant Reactions
The other landlord representative, Maksim Wynn, a Mamdani appointee, was initially booed by tenants as he read a lengthy statement but later voted in favor of the freeze, turning the crowd's anger into delight.
At public hearings, tenants demanded a rent freeze or even a decrease, citing incomes not keeping pace with inflation and rising bills. Landlord groups argued that a freeze would hinder property owners' ability to maintain buildings and cover mortgages. Some landlords, from small owners to large investors, said they must raise rents on unregulated apartments to offset losses on rent-stabilized units.
Mayor's Broader Success
After his election, Mamdani moved from a rent-regulated one-bedroom apartment in Queens to the mayor's official five-bedroom residence in Manhattan. Thursday's vote capped a successful week for Mamdani, who also celebrated the victory of three left-wing candidates in Democratic Party primaries for U.S. Congress seats in New York.
