As the 2025 New York City mayoral race heats up, Mayor Eric Adams is taking a firm stance against proposals from several Democratic candidates advocating for a rent freeze for stabilized tenants.
During a press conference in Brooklyn on April 28, Adams refrained from directly answering whether he would support a rent freeze for approximately one million stabilized tenants, instead emphasizing the financial strain on small landlords.
Adams argued that small property owners are facing rising costs and need the ability to increase rents to maintain their buildings.
“When you’re not mayor, you can be so idealistic that you’re not realistic,” Adams remarked, directing his comments toward his Democratic opponents.
He further stated, “When we start talking about just an across-the-board rent freeze, we need to start talking to those small property owners, how does it impact them?
Gas doesn’t freeze, electricity doesn’t freeze, insurance doesn’t freeze, the cost of running a building doesn’t freeze,” he added.
The mayor, who is a small landlord himself, challenged candidates proposing a rent freeze to also offer plans to protect property owners from potential financial ruin.
“We have to protect small property owners. I want to hear their plan on that,” said Adams, stressing the need to consider those individual landlords who have invested their life savings into their properties.
Adams appoints all nine members of the Rent Guidelines Board (RGB), which is responsible for determining rent increases for stabilized apartments throughout the city.
So far in Adams’ tenure, his appointed RGB has decided to raise rents in each of his three years in office, with increases of 2.75% for one-year leases last year and 3% the prior year.
In contrast to Adams’ stance, Queens Assembly Member Zohran Mamdani has emerged as the only candidate committed to implementing a rent freeze, which is a key element of his campaign platform.
Mamdani’s campaign has been gaining traction, evidenced by his strong fundraising and his current standing as the second-place candidate behind former Governor Andrew Cuomo.
Cuomo, who has significant backing from the real estate industry, termed the concept of a rent freeze as a “politically convenient posture” in his recently released housing plan.
Cuomo’s proposal indicates that he would select board members focused on making decisions based on real evidence, balancing the need to keep rent increases minimal while simultaneously addressing landlords’ costs.
Mamdani’s push has influenced some of his rivals, including city Comptroller Brad Lander, former city Comptroller Scott Stringer, and City Council Speaker Adrienne Adams, leading them to express reservations about yearly rent increases.
Though the three have acknowledged the RGB should reconsider rent hikes for the current year, they have yet to fully endorse the idea of a rent freeze should they become mayor.
As the RGB prepares to vote on preliminary rent increase ranges for the upcoming year, the final decision will unfold in the weeks to come, marking a pivotal moment in the ongoing discourse surrounding housing in New York City.
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