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, 2022 and September 30, 2023, the rent increase for rent stabilized apartment and loft renewals is:
- For a one-year lease beginning on or after October 1, 2022, and on or before September 30, 2023: 3.25%
- For a two-year lease beginning on or after October 1, 2022, and on or before September 30, 2023: 5%
On June 21, 2023, the NYC Rent Guidelines Board adopted guidelines that apply to leases commencing between October 1, 2023 and September 30, 2024.
- For a one-year lease beginning on or after October 1, 2023, and on or before September 30, 2024: 3%
- For a two-year lease beginning on or after October 1, 2023, and on or before September 30, 2024:
- For the first year of the lease: 2.75%
- For the second year of the lease: 3.20% of the amount lawfully charged in the first year, excluding any increases other than the first-year guideline increase
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.
Learn about rent regulations for rent controlled apartments.