NYC Rent Guidelines Board Approves 3% Rent Increase

On June 21, the New York City Rent Guidelines Board voted to approve a 3 percent rent increase for one-year leases on rent-stabilized apartments. Two-year leases will see a 2.75 percent increase in year one and a 3.2 percent increase in year two. The new rates will apply to leases effective between Oct. 1, 2023, and Sept. 30, 2024. Learn more.