NYC’s Rent-Stabilized Apartment Prices to Rise at Least 3%

Tenants in New York City’s roughly 1 million rent-stabilized apartments will face a fourth straight year of price hikes.

The city’s Rent Guidelines Board on Monday in a 5-4 vote approved a 3% price increase for one-year leases that renew during the year beginning Oct. 1. Prices for two-year leases will rise 4.5%.