The New York City Rent Guidelines Board (NYCRGB) determines rent increases for lease renewals of rent stabilized apartments, lofts, hotels and single room occupancies (SROs). Rent increase percentages for rent stabilized apartments and lofts are adjusted each year.
It does not set the rent increase for unregulated apartments or subsidized housing. Market rate apartment rental rates and lease terms are negotiated between the owner and tenant.
For renewal leases beginning between October 1, 2021 and September 30, 2022, the rent increase for rent stabilized apartment and loft renewals is:
- For a one-year lease commencing on or after October 1, 2021 and on or before September 30, 2022:
- 0% for the first 6 months of the lease and
- 1.5% for the remaining 6 months of the lease.
- For a two-year lease commencing on or after October 1, 2021 and on or before September 30, 2022: 2.5%
On June 21, 2022, the NYC Rent Guidelines Board adopted guidelines applicable to leases commencing between October 1, 2022 and September 30, 2023.
- For a one-year lease commencing on or after October 1, 2022 and on or before September 30, 2023: 3.5%
- For a two-year lease commencing on or after October 1, 2022 and on or before September 30, 2023: 5%
Effective June 14, 2019 any tenant who is paying a preferential rent must be offered, for the rest of their tenancy, a lease renewal with a guideline increase that is based on the preferential rent. The legal rent cannot be collected until the apartment is vacated.
You can get information about renewal lease rates that apply to rent stabilized apartments, hotels, and SROs:
Visit the Rent Guidelines Board website.
View previous apartment and loft rent increase orders.