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NYC rent-stabilized apartments could see 9% price hike

By FOX 5 NY Staff
Updated  April 16, 2022 8:36am EDT
New York City
FOX 5 NY

New proposed NYC rent hikes

According to a new report by the Rent Guidelines Board, apartments covered by rent stabilization could see their leases jump by as much as 9% over the next two years.

NEW YORK - Already-rising rent prices in New York City could soon be going up even higher.

According to a new report by the Rent Guidelines Board, apartments covered by rent stabilization could see their leases jump by as much as 9% over the next two years.

Owners say the hike is needed to cover rising operating costs.

One-year leases could see a hike between 2.7 and 4.5%, while two-year leases could jump between 4.3 and 9%.

The Board is expected to make a final decision in June. 

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