Housing board votes to freeze New York rents in victory for Mamdani

In a statement concerning the rent freeze, she said "comprehensive data before the board this year reflect an economic environment in which most tenants in rent-stabilised housing struggle to meet basic affordability thresholds as housing costs continue to rise".Rent-stabilised buildings will be eligible for the rent freeze across all five of the city's boroughs between October 2026 and September 2027. They include buildings ranging from high-rise luxury apartments to affordable subsidised units.Tenants had argued in public hearings held ahead of the vote that incomes were not keeping up with inflation and that past rent increases hadn't gone towards building repairs or improvements.But groups representing landlords warned that it would be more difficult to keep up with rising taxes, utilities and repairs as a result of the freeze, leading to worse conditions for renters."Older rent-stabilized buildings are already struggling under rising operating costs, yet the Board chose to disregard those realities," said James Whelan, president of the Real Estate Board of New York. "This decision will mean less investment in maintenance and repairs, accelerating the deterioration of the housing stock that millions of New Yorkers call home," he said.During Mamdani's campaign for mayor late last year, his election pledges centred on cost-of-living issues, with the rent freeze being one of the core promises.Changing the make-up of the board was also among the democratic socialist mayor's pledges.