A New York City housing board has approved a rent freeze for approximately one million regulated apartments, a decision hailed by Mayor Zohran Mamdani as a "historic victory for New York City tenants." The Rent Guidelines Board (RGB) voted 7-1 on Thursday to freeze rents for both one and two-year leases, a move met with cheers from hundreds of tenants in Manhattan.
The board's decision impacts rent-stabilized buildings across all five boroughs for the period between October 2026 and September 2027. Tenant advocates argued during public hearings that incomes have not kept pace with inflation and that previous rent increases have not been channeled into building repairs.
However, landlord groups expressed concern that the freeze will exacerbate deteriorating housing conditions. James Whelan, president of the Real Estate Board of New York, stated that the decision disregards the reality of rising operating costs for landlords and will lead to reduced investment in maintenance and repairs. "Older rent-stabilized buildings are already struggling under rising operating costs, yet the Board chose to disregard those realities," Whelan said. "This decision will mean less investment in maintenance and repairs, accelerating the deterioration of the housing stock that millions of New Yorkers call home."
The vote followed the public resignation of board member Christina Smyth, who accused the panel of bias and of disregarding evidence regarding landlords' increasing operating costs. Smyth, one of two landlord representatives appointed by former Mayor Eric Adams, suggested the outcome was predetermined. "The rebuilt board was required to deliver a rent freeze. Everything since has been theater," she stated. The rebuilt RGB comprises six members appointed by Mamdani after he took office this year, and three appointed by Adams.
Chantella Mitchell, chair of the board, defended the members' independence and integrity. She noted that the "comprehensive data before the board this year reflect an economic environment in which most tenants in rent-stabilised housing struggle to meet basic affordability thresholds as housing costs continue to rise."
The rent freeze was a central pledge in Mamdani's mayoral campaign, focusing on cost-of-living issues. He had previously stated his intention to appoint board members who understood that "landlords are doing just fine." A preliminary vote in May had also indicated support for Mamdani's rent freeze plan.
Rent freezes have been implemented three times previously between 2015 and 2021 under former Mayor Bill de Blasio, though these were limited to one-year leases. This rent freeze win for Mamdani comes shortly after the successful election of three congressional candidates he endorsed. Among them, Brad Lander and Darializa Avila Chevalier defeated incumbent Democratic congressmen, while Claire Valdez unseated an opponent backed by much of the Democratic establishment.