NYC rent stabilized apartments see rent hike starting today. Here's what to know about the changes.

Rents are going up Wednesday for the more than one million New Yorkers who live in rent stabilized apartments citywide. 

The increase comes after the city's Rent Guidelines Board voted to approve the hikes back in June. 

How much is rent increasing? 

One-year leases are going up 3%, and two-year leases are going up 4.5%.

Keep in mind, these increases are for leases that start on or after Oct. 1, 2025 through Sept. 30, 2026. 

Battle over whether to raise the rent

During the controversial vote back in June, some residents in East Harlem could be seen holding signs that read, "Freeze the rent," and some were heard shouting at the nine-member board, saying the move goes too far. Residents say the rising cost of living is already forcing them from their apartments. 

Small landlord groups, however, argue the increases are needed to cover growing maintenance and operating costs for their properties, some of which are more than a century old. 

Rent front and center in NYC mayor's race

The question of a rent increase has become a key issue for New York City's mayoral candidates. 

Assemblyman Zohran Mamdani, the Democratic nominee and current frontrunner, has vowed to freeze the rent for rent stabilized units for the entirety of his term if elected. 

Former Gov. Andrew Cuomo, who is running as an independent, has said he opposes an across-the-board rent freeze, arguing landlords must be able to keep up with rising costs of maintaining buildings. 

Republican Curtis Sliwa, meanwhile, has suggested minimal increases but wants them constrained.