NEW YORK — Tenant advocates on Wednesday celebrated New York City’s Rent Guidelines Board decision to freeze rents for roughly one million rent-stabilized apartments, calling the measure a significant development for renters facing high housing costs. The board approved 0% increases for both one-year and two-year leases beginning between Oct. 1, 2026, and Sept. 30, 2027.
The Rent Guidelines Board voted 7-1 on June 25 to adopt the freeze, which applies to apartments covered under the city’s rent stabilization system. The decision affects about 2.4 million residents living in stabilized units, according to city housing officials and reporting on the vote.
Tenant organizations and housing advocates supported the action, arguing that limiting rent increases would help stabilize housing costs for residents in a city where affordability has remained a major concern. The measure was also a key housing proposal advanced by Mayor Zohran Mamdani, who had campaigned on freezing regulated rents.
The board’s chair, Chantella Mitchell, said the decision reflected the economic pressures facing tenants while acknowledging concerns from property owners. “I believe a 0% adjustment for one- and two-year leases is fair and responsible,” Mitchell said, according to a report on the board’s meeting.
Landlord groups opposed the freeze, arguing that limiting rent adjustments could increase financial pressure on building owners who face rising operating and maintenance costs. A landlord representative on the board, Christina Smyth, resigned before the vote and criticized the process, saying the outcome had been predetermined.
The Rent Guidelines Board, which is responsible for setting annual rent adjustments for stabilized apartments, considers research on housing costs, operating expenses, and economic conditions before issuing guidelines.
Supporters of the freeze described the vote as a milestone for tenants, while opponents said the policy could have longer-term effects on the city’s rental market and building finances. The new guidelines will apply to eligible lease renewals starting in October 2026.
The Rent Guidelines Board’s adopted order remains the latest confirmed action, with the freeze scheduled to take effect for leases beginning during the 2026–2027 guideline period.
