Rents are going up Wednesday for the more than one million New Yorkers who live in rent stabilized apartments citywide.
The increase comes after the city’s Rent Guidelines Board voted to approve the hikes back in June.
How much is rent increasing?
One-year leases are going up 3%, and two-year leases are going up 4.5%.
Keep in mind, these increases are for leases that start on or after Oct. 1, 2025 through Sept. 30, 2026.
Battle over whether to raise the rent
During the controversial vote back in June, some residents in East Harlem could be seen holding signs that read, “Freeze the rent,” and some were heard shouting at the nine-member board, saying the move goes too far. Residents say the rising cost of living is already forcing them from their apartments…