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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 York City tenants" and said it delivers "the relief that working people across our city deserve."
What has the reaction been?
As you would expect in New York housing politics, opinions couldn't be more divided.
Tenant advocates celebrated outside the meeting, calling the vote overdue relief for renters facing rising living costs after several years of rent increases.
Landlord groups, meanwhile, warned the freeze could make it harder to pay for repairs and building maintenance as costs for insurance, labor and utilities continue to climb. The Real Estate Board of New York said the decision "will make New York's housing crisis worse," while the New York Apartment Association argued that it could strain already-struggling buildings.
Even before the vote, the meeting turned dramatic: landlord representative Christina Smyth resigned from the Rent Guidelines Board hours beforehand, arguing the outcome had effectively been decided in advance. The board's chair rejected that claim, saying members had acted independently after reviewing months of testimony and economic data.
Whether Thursday's vote becomes a turning point in New York's affordability crisis—or simply the opening chapter in another fierce housing debate—is a question that likely won't be answered until next year's rent vote.