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Rent prices in the current housing market continue to soar rather than soften. Findings in a July 2021 Zillow Real Estate Market Report reveal that U.S. rents grew 9.2% year-over-year in July 2021.
In a 5-to-4 vote, New York City's Rent Guidelines Board voted to approve rent increases. One-year leases will rise by 2.75%, while two-year leases will rise by 5.25%.
The city's Rent Guidelines Board approved a nominal 2.75 rent increase for one million rent-stabilized apartments. That's below the year's 3.3 percent inflation rate. New York Cuts Real Rents at ...
Failure to provide these may allow the tenant to receive a lower rent. [4] Outside of New York City, the state government determines the maximum rents and rate increases, and owners may periodically apply for increases. In New York City, rent control is based on the Maximum Base Rent system. A maximum allowable rent is established for each unit.
The New York State Division of Housing and Community Renewal (DHCR) is an agency of the New York state government [1] responsible for administering housing and community development programs to promote affordable housing, community revitalization, and economic growth. Its primary functions include supervising rent regulations through the State ...
The 1904 New York City rent strike was the first mass rent strike in New York City. It took place in the Lower East Side in the Spring of 1904, spreading to 2,000 families across 800 tenements and lasting nearly a month. The strike was a response to proposed rent increases amid a housing shortage.
The shelter component of the Consumer Price Index, which is mostly made up of rent and homeowners' equivalent rent (OER), rose 0.4% in April, matching March's monthly gain, according to data from ...
HPD is currently in the midst of New York City Mayor Bill de Blasio's Housing New York initiative to create and preserve 300,000 units of affordable housing by 2026. By the end of 2021, the City of New York financed more than 200,000 affordable homes since 2014, breaking the all-time record previously set by former Mayor Ed Koch. [3]