The New York City Rent Guidelines Board voted 7-1 on June 25 to freeze rent increases for approximately one million rent-stabilized apartments for up to two years. The freeze applies to both one-year and two-year leases starting October 1, 2026 [1, 2, 3].

The apartments affected represent about a quarter of the city’s housing stock, housing approximately 2.4 million tenants. The average rent for these regulated units was $1,599 per month in 2025, compared to the median rent of $3,950 for newly leased apartments across the city [1, 2, 4, 5, 6, 7, 8].

This is the first time the Rent Guidelines Board has implemented a two-year rent freeze for rent-stabilized apartments [4, 5, 6, 7]. The decision fulfills a key campaign promise made by Mayor Zohran Mamdani, a democratic socialist who took office in January 2026 and appointed six of the nine board members to the nine-member panel [1, 2, 3, 9, 8, 10, 11]. Mamdani called the vote "a historic victory for New York City tenants" and said, "This is the relief that working people across our city deserve" [1].

Prior to the vote, Christina Smyth, one of two landlord representatives and the only one appointed by former Mayor Eric Adams, resigned in protest. Smyth alleged the board had been stacked by Mamdani and predicted the rent freeze outcome was predetermined, calling the process "theater" [1, 2, 9, 8, 10, 11]. Board chair Chantella Mitchell, a Mamdani appointee, defended the board's independence, saying the members "served with independence and integrity" and conducted public hearings before voting [1, 2, 9, 8, 10, 11].

Tenant groups such as Housing Justice for All and Chinatown tenants associations strongly supported the freeze, viewing it as much-needed relief for working-class and immigrant renters facing rising costs [4, 5, 6, 7]. Landlords and real estate industry groups opposed the measure, arguing it would undermine their ability to maintain buildings amid rising insurance, tax, and maintenance costs [1, 2, 4, 5, 6, 7, 8, 10, 11].

The rent freeze takes effect with leases starting October 1, 2026, and can last up to two years depending on lease length. The board will meet again when it considers guidelines after the freeze expires.

Timeline

In January 2026, Zohran Mamdani became mayor and appointed six of the nine Rent Guidelines Board members [1, 2, 3, 8, 10, 11]. On June 25, Smyth resigned shortly before the vote [1, 2, 9, 8, 10, 11], which approved the rent freeze 7-1 that same day [1, 2, 3, 4, 5, 6, 7, 8, 10, 11].