NEW YORK (PIX11) — The New York City Rent Guidelines Board is considering raising the rent for one million rent-stabilized apartments across the city.
The annual backroom lobbying between tenants and landlord advocates will soon be put to a vote. But before that happens, some renters are in shock over reports of a near 16% increase in two year leases.
For perspective, in 2022 the RGB set one of the largest increases in a decade at 5% for two year leases. City hall, which helps influence those rates, cautions renters will not be gauged.
“The 16% number put out, only reflects one assessment of landlords’ increased costs, and does not in any way represent a recommendation from the RGB or this administration,” said a spokesperson for Mayor Eric Adams.
However the working families party shot back at the notion in a statement:
“The outrageous rent hikes proposed would only fuel homelessness, displacement, and push more families to the edge.”
A recent Census Bureau study shows New York City has the highest rate of households behind on rent in the country at 21%. Rising costs of living are affecting millions of americans, especially those on a fixed budget who havent seen their income rise with inflation.
