NYC Just Raised Everyone’s Rent…

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Just when you thought NYC couldn’t get any less affordable, it does. New rules designed to make apartments more comfortable will, according to critics, undoubtably result in rent increases passed along to struggling renters.

See also  The New Tenant Rent Index, which leads CPI Rent, declined sharply in Q4.

The Rent Guidelines Board in New York City recently approved rent increases for stabilized tenants. Approximately 1 million regulated apartments will see a 2.75% increase in rents. This decision has sparked debate and concerns about affordability for struggling renters.

See also  The New Tenant Rent Index, which leads CPI Rent, declined sharply in Q4.

Sources:

https://www.politico.com/news/2024/06/17/rents-on-1m-new-york-city-apartments-to-increase-amid-affordability-woes-as-adams-faces-reelection-00163820

https://www.amny.com/housing/rent-guidelines-board-increase-nyc-tenants-2023/

https://www.yahoo.com/news/rent-guidelines-board-proposes-more-094144130.html


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