New York City Rent Guidelines Board meeting room after rent freeze vote.
The New York City Rent Guidelines Board (RGB) has voted to freeze rents on rent-stabilized apartments, a move hailed by Mayor Zohran Mamdani as a “historic victory for New York City tenants.” The board’s decision, made by a 7-1 vote on Thursday, will result in a 0% adjustment for one-year and two-year leases beginning on or after October 1, 2026, and on or before September 30, 2027.
Mayor Mamdani, whose campaign platform included a pledge to freeze rents, expressed gratitude for the board’s consideration of tenant affordability, cost of living, and building operating costs. “This is the relief that working people across our city deserve,” Mamdani stated, emphasizing his commitment to further efforts in creating a more affordable city through housing development, cost reduction, and tenant education.
However, the decision was preceded by the resignation of board member Christina Smyth, who strongly criticized the RGB’s process. Smyth asserted that the board had ceased to be a fact-finding body, instead starting with a predetermined outcome and working backward to justify it. “This year’s RGB order was decided last year on the campaign trail,” she stated, implying that the outcome was politically influenced rather than based on evidence presented during hearings and public comment periods.
The RGB is responsible for establishing rent adjustments for approximately one million dwelling units subject to the Rent Stabilization Law in New York City. The current board includes six members appointed by Mayor Mamdani.
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