New York Mayor Zohran Mamdani freezes rents for about one million apartments

The New York City Rent Guidelines Board voted 7‑1 to freeze rent increases at 0 % for both one‑year and two‑year lease renewals in rent‑stabilized apartments. The freeze covers roughly one million regulated units—about 40 % of the city’s housing stock—across all five boroughs and will be in effect from 1 Oct 2026 to 30 Sep 2027. Mayor Zohran Mamdani called the decision “a historic victory for New York City tenants” and framed it as the fulfillment of his “Freeze the Rent” campaign promise. Tenants celebrated the vote with cheers and whistles, while landlord representative Christina Smyth resigned beforehand, saying the board “has stopped being a fact‑finding body.” Landlord groups warn the freeze will strain operating costs, hurt maintenance and could prompt legal challenges. The measure follows Mamdani’s recent appointment of most board members and is part of a broader affordable‑housing push that includes a “Block by Block” plan to build or preserve 200 000 new affordable units.