NYC Board Hikes Prices 2.75% for Rent-Stabilized Apartments
- Prices will rise for one-year leases starting Oct. 1
- Rent-stabilized market has come under pressure recently
Tenants in New York City’s roughly 1 million rent-stabilized apartments will face a third consecutive year of price increases.
Prices will rise 2.75% for one-year leases beginning Oct. 1 or later, the city’s Rent Guidelines Board voted Monday. For two-year leases, rents will climb 5.25%.