For months, “freeze the rent” was one of Mayor Zohran Mamdani’s loudest campaign promises. Now, it’s official.
On Thursday night, New York City’s Rent Guidelines Board voted 7-1 to freeze rents on both one-year and two-year leases for the city’s roughly 1 million rent-stabilized apartments, the first time in the board’s history that both lease terms have received a 0% increase.
The decision is a major victory for tenants and one of the biggest policy wins of Mamdani’s first six months in office. But it also raises plenty of questions, especially if you’re wondering whether your own rent is about to stay the same.
How does the rent freeze work?
Beginning October 1, 2026, landlords of rent-stabilized apartments won’t be allowed to increase rents when tenants sign new one-year or two-year lease renewals. The approved increase is 0% for both lease lengths.
The freeze applies only to leases that begin on or after October 1. If you recently renewed your lease (or your renewal starts before then), this vote doesn’t change your current rent.
Who does it apply to?
Not every renter in New York City.
The freeze applies only to rent-stabilized apartments, which account for roughly 1 million apartments—about 40% of the city’s rental housing and home to around 2 million New Yorkers.
Most rent-stabilized units are in buildings with six or more apartments built before 1974, although newer buildings can also qualify through certain tax incentive programs. Market-rate apartments, rent-controlled units and most condos and co-ops are not affected.
If you’re not sure whether your apartment is stabilized, your lease often says so and tenants can also check their apartment’s status through New York State housing records.
How long will the freeze last?
The Rent Guidelines Board sets rent increases every year, so this isn’t an indefinite freeze.
Instead, the 0% increase applies to eligible lease renewals beginning between October 1, 2026, and September 30, 2027. The board will vote again next year to determine rent increases for the following cycle.
Has New York ever frozen rents before?
Sort of—but never like this.
The Rent Guidelines Board has frozen one-year lease increases several times before, including in 2015, 2016, 2020 and the first half of 2021. Thursday’s vote marked the first-ever freeze on two-year leases.
It’s also the first freeze since New York’s 2019 rent law overhaul eliminated many of the ways landlords could previously raise rents after apartments became vacant, making this year’s decision more consequential than earlier freezes.
Why was this such a big campaign issue?
Housing affordability was at the center of Mamdani’s mayoral campaign, and freezing rents became one of his defining promises.
After taking office, he appointed six members to the nine-person Rent Guidelines Board, though the administration has emphasized that the board operates independently. Following Thursday’s vote, Mamdani called the decision “a historic victory for New…
Read More: What It Means for Renters
