The Rent Guidelines Board voted on May 7, 2026 to keep a rent freeze within reach for roughly one million rent-stabilized apartments — but stopped short of guaranteeing one, setting up a binding final vote on June 25 that will be the first real test of Mayor Zohran Mamdani’s signature housing promise.

What the board actually did

In its preliminary vote, the board approved a range of possible increases: 0% to 2% on one-year lease renewals and 0% to 4% on two-year renewals. That range puts a full freeze — 0% — formally on the table for the first time in years, but it also leaves room for landlords to win an increase when the board takes its binding vote.

The guidelines, once finalized, will govern lease renewals for rent-stabilized units from October 1, 2026 through September 30, 2027.

The Mamdani majority

The vote was the board’s first under the new mayor, and the math behind it is the story. Six of the nine members are now Mamdani appointees, after a mayor who ran on freezing the rent reshaped a body that for years had approved increases. Mamdani made the freeze a cornerstone of his campaign, and his appointments gave tenant advocates their best shot at a 0% outcome in a decade.

But the preliminary vote was a reminder that a friendly mayor does not equal a guaranteed freeze. The board operates independently, weighs landlord operating-cost data alongside tenant hardship, and its members — even Mamdani’s — did not lock in 0% at the preliminary stage. As THE CITY noted, a freeze was “no sure thing” even with a Mamdani-majority board.

Neither side satisfied

The preliminary range managed to disappoint both camps. Tenant organizers, who turned out in force, said a range that still allows a 2% or 4% increase falls short amid the rising cost of living and does not honor the spirit of Mamdani’s pledge. Landlord groups countered that the board ignored data showing rising operating costs and financial distress in older, heavily rent-stabilized buildings, where owners say thin margins threaten upkeep.

That the range is far lower than what the board approved under former Mayor Eric Adams did little to bridge the gap. For tenants, anything above zero is a broken promise in the making; for owners, a freeze is an existential threat to building finances.

What happens June 25

The binding final vote is scheduled for June 25, 2026. Between now and then, the board holds public hearings where tenants and landlords testify, and the nine members negotiate a single number within (or at the edges of) the preliminary range. A 0% freeze on one-year leases would be the headline outcome and a direct delivery on Mamdani’s central campaign promise. A small increase would hand his critics an early example of a pledge that ran into the machinery of the board he appointed.

Either way, the June vote will be read as a verdict on how much a mayor can actually move an independent board — and on whether Mamdani’s housing agenda survives contact with the data, the landlords, and the members he chose.

Verification

Frequently Asked Questions

Did the Rent Guidelines Board freeze the rent?
Not yet. The May 7, 2026 preliminary vote set a range of 0% to 2% on one-year leases and 0% to 4% on two-year leases. That keeps a 0% freeze possible but also leaves increases on the table. The binding final vote is scheduled for June 25, 2026.
How many apartments are affected?
Roughly one million rent-stabilized apartments across New York City. The guidelines the board sets apply to lease renewals from October 1, 2026 through September 30, 2027.
What does Mayor Mamdani have to do with it?
Mamdani made a rent freeze a cornerstone of his campaign. As mayor he appoints the Rent Guidelines Board, and a majority — six of nine members — were named by him. But the board votes independently, and a freeze is not automatic.
How does this compare to the Adams years?
The preliminary range is well below the increases the board approved under former Mayor Eric Adams. Even so, tenant organizers said it fell short of a guaranteed freeze, while landlord groups said it ignored rising operating costs.