Democratic mayoral candidate Zohran Mamdani has proposed a sweeping housing reform plan that includes freezing rents on some apartments—but even if a similar proposal is adopted, it would take two decades to close New York City’s vast affordability gap.
During the spring months, the typical New York City rent climbed to $3,491, up $123, or 3.7%, from a year ago, according to the Realtor.com® Q2 2025 NYC Rent Report.
Surging housing costs point to a deepening affordability crisis gripping the Big Apple…