New York, New York – New York City’s Rent Guidelines Board voted Thursday to freeze rents for about 1 million rent-stabilized apartments, delivering a major policy win for Mayor Zohran Mamdani.
The board approved the freeze in a 7-1 vote. It applies to both one-year and two-year leases beginning between Oct. 1, 2026, and Sept. 30, 2027. Rent-stabilized units make up a large share of the city’s housing stock and are home to roughly 2 million residents.
Mamdani campaigned on freezing rents as part of a broader affordability agenda. He praised the vote as a “historic victory” and said his administration would also work to preserve affordable housing and lower building operating costs.
Tenant groups celebrated the decision, arguing that residents need relief after years of rent increases and high living costs. Landlord groups opposed the freeze, warning that rising insurance, maintenance, labor, and fuel costs could make it harder to maintain buildings.
The vote comes days after several Mamdani-backed progressive candidates defeated establishment Democrats in New York congressional primaries, adding to the mayor’s growing influence in state and national Democratic politics.
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