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Hikes to NYC stabilized rents take effect Oct. 1 as mayoral race shifts
By
Giulia Heyward
Published Sep 30, 2025
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KENA BETANCUR / AFP
By
Giulia Heyward
Published Sep 30, 2025
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The cost of living in roughly 1 million rent-stabilized apartments across the city is set to go up this week.
Starting Wednesday, Oct. 1, New Yorkers in rent-stabilized apartments will see increases of 3% on one-year leases and 4.5% on two-year leases.
The city’s Rent Guidelines Board, composed of nine mayoral appointees, voted 5-4 in June for an increase higher than the minimum in the possible range, after Mayor Eric Adams previously urged the board to “adopt the lowest increase possible.”
The raised rents are taking effect just days after Adams abruptly exited his reelection bid. With Adams out of the race, voters are left deciding between independent former Gov. Andrew Cuomo, Republican Curtis Sliwa and Democratic frontrunner Zohran Mamdani, who has made freezing stabilized rents a central part of his platform.
“Eric Adams’ board has raised the rent every year he’s been in office,” Mamdani said in a video posted on social media. “Makes sense for a guy who said, ‘I am real estate.’ Currently eight of Adams’ nine appointee terms are up and could be replaced tomorrow. And that’s exactly what I would do.”
During the Bill de Blasio administration, which lasted eight years, the board increased rents by 6% in total and froze rents on three occasions.
Speaking back in June, Adams said he was “disappointed” by his board’s most recent decision.
“While the board exercised their independent judgment, and made an adjustment based on elements such as inflation, I am disappointed that they approved increases higher than what I called for,” Adams said in a statement at the time. “While our administration is always fighting to make this city more affordable, what we will never do is sell New Yorkers on an idea that would ultimately leave them in worsening housing conditions.”
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housing
new york city
Giulia Heyward
Giulia Heyward is a breaking news reporter on the Day-Of desk. She previously worked at NPR, as a breaking news reporter, and the New York Times, as a reporting fellow on the national desk. Her work has also appeared in CNN, The Atlantic and Politico. Got a tip? Email [email protected] or more securely on signal at 917-715-1458.
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