Could N.Y.C. Rents Go Up by 16 Percent? Here’s What to Know.
“People already struggling to afford the staggering cost of living in New York City were hit with a new, ominous figure on Thursday: A panel that regulates rent-stabilized apartments discussed rent increases of 15.75 percent on two-year leases, the highest such figure in almost two decades. New York City’s roughly one million rent-stabilized apartments are considered a crucial source of affordable housing. They are supposed to be insulated from market forces that have sent asking rents in unregulated apartments soaring.”