New York City's Rent Guidelines Board voted 7-1 on Thursday to freeze rent increases on one- and two-year leases for approximately 1 million rent-stabilized apartments, delivering a major victory for Mayor Zohran Mamdani, who campaigned on a pledge to freeze rent. The decision provides relief to tenants in over 40% of the city's rental housing.
Mayor Hails Historic Vote
Mamdani called the vote a "historic victory for New York City tenants." He stated: "After reviewing the data and hearing from New Yorkers across the city, the independent RGB has delivered a freeze on one-year leases, and the first-ever freeze on two-year leases in our city's history. This is the relief that working people across our city deserve." He expressed gratitude for the board's consideration of data on tenants' ability to pay, cost of living, and building operating costs, and pledged to continue working on affordable housing.
Board Composition and Resignation
Six of the board's nine members were appointed by Mamdani. Christina Smyth, appointed by former Mayor Eric Adams, resigned shortly before the vote, claiming the process was not administered as required by law. She said: "The Rent Guidelines Board has stopped being a fact-finding body. It has become a body that starts with an answer and vibe codes its way backward to justify it … This rebuilt board was required to deliver a rent freeze. Everything since has been theater."
Rent Guidelines Board Chair Chantella Mitchell defended the process, stating: "I was surprised to receive Christina's resignation this morning. I want to take this opportunity to affirm the independence with which this year's board members have served, along with the rigor and integrity demonstrated by the RGB staff in preparing and presenting data."
Mixed Reactions from Stakeholders
Ann Korchak, board president of the Small Property Owners of New York, criticized the decision as an "absolute farce," arguing that proceeding with half of the owner representation undermined fairness. She said: "The resignation of the only principled RGB member and the board's only meaningful advocate for small owners validated our greatest fear, that the majority Mamdani-appointed RGB would cave to the political demands of city hall."
The Libertarian Party of New York tweeted that "rent freezes exacerbate the housing crisis," citing decades of rent regulations contributing to chronic shortages. They argued the freeze punishes property owners rather than addressing artificial scarcity from government barriers to building.
The Legal Aid Society commended the board, stating: "We commend the board for their vote tonight to freeze the rent for the more than 2 million New Yorkers who currently reside in rent-stabilized housing … At a time of historic unaffordability across the five boroughs – marked by an increased cost of living, low citywide vacancy rates, and record-breaking market-rate rent prices – a rent freeze is a prudent, evidence-based response to the challenges facing tenants across the five boroughs."
Additional Policy Announcement
On Friday, Mamdani announced a $15 million investment in transgender healthcare, including a direct access fund for providers of youth gender-affirming care and a new call and text line connecting New Yorkers with resources. The funding will also address research gaps in healthcare access and outcomes for transgender and gender non-conforming New Yorkers. Mamdani said: "Every New Yorker should have the freedom to live as themselves and access the healthcare they need. As the federal government attacks transgender people and attempts to intimidate patients, families and providers, New York City is stepping up. We will protect care, support the providers delivering it and make clear that trans New Yorkers belong in this city. Healthcare is a human right, and we will do everything in our power to defend it."
