New York City Rent Hikes Under Adams Top Previous Mayors' Increases
New York City's rent landscape has seen significant changes under recent mayors. The latest adjustments, approved by current Mayor Eric Adams, will come into effect this week, marking the culmination of a series of increases that have collectively had a substantial impact on tenants.
Looking back, Mayor Michael Bloomberg's administration (2002-2013) saw rent hikes of 13.4, 15.6, and 12.5 percent. Under Bill de Blasio (2014-2021), rent-stabilized apartments experienced a total increase of 6.9 percent, including three years of rent freezes. However, Mayor Eric Adams has raised rents the most during his term so far, approving increases of up to 3.25% for one-year leases and up to 5.0% for two-year leases in June 2023.
These increases have had a compounding effect. If a rent-stabilized tenant took one-year increases during Adams' and Bloomberg's tenures, their rent would have jumped by 77 percent. The final increases under Adams' administration, set to take effect this Wednesday, are 3 percent for one-year leases and 4.5 percent for two-year leases.
Meanwhile, market rents have also been on the rise. From December 2021 to August 2025, the median Manhattan rent climbed from $3,475 to $4,600, in Brooklyn from $2,800 to $3,950, and in northwest Queens from $2,825 to $3,775.
The cumulative effect of these rent increases under different administrations has been substantial. As the latest adjustments under Mayor Adams come into force, tenants across New York City will continue to grapple with the impact of these changes on their housing costs.
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