US News Metro Long Island Politics

Sports NFL MLB Olympics NBA NHL College Football College Basketball WNBA

Entertainment TV Movies Music Celebrities Awards Theater

Lifestyle Weird But True Sex & Relationships Viral Trends Human Interest Parenting Fashion & Beauty Food & Drink Travel

Health Wellness Fitness Health Care Medicine Men’s Health Women’s Health Mental Health Nutrition

Science Space Environment Wildlife Archaeology

Today’s Paper Covers Columnists Horoscopes Crosswords & Games Sports Odds Podcasts Careers

Email Newsletters Official Store Home Delivery Tips

Switch between CA and NY editions here.

Surprise: Mamdani’s ‘socialist’ NYC rent freeze benefits wealthier tenants the most

See more of our coverage in your search results.

Mayor Zohran Mamdani has declared the rent freeze “a historic victory” that provides “the relief that working people across our city deserve.”

In reality, a large number of those tenants could actually well afford to pay more.

Ironically, they also tend to get the biggest savings.

And the fact that they have a sweet deal pushes up prices for those facing today’s non-regulated rental market.

Here’s the key: The Mamdani initiative has frozen the rent for all 960,000 rent-stabilized tenants, but Census records show 30% of them earn $100,000 or more; that’s 288,000 affluent households enjoying the rent freeze.

There’s no requirement to be poor to score a rent-regulated apartment, a fact Mamdani, who lived in a rent-regulated unit before moving into Gracie Mansion, conveniently overlooks.

A shocking number of wealthy NYC renters live in stabilized units

Mamdani faces lawsuit over ‘unlawful’ NYC rent freeze — as landlords rip ‘abuse of power’

The cold cruelty behind Mamdani’s smug democratic socialist mask

So affluent households in the city’s top neighborhoods have benefited from rent regulation for decades while newcomers to the city crowd into small apartments and face high market-rate rents.

Note, too, that those $100,000-plus households are raking in more than the citywide $85,000 median income for all households, whether homeowners or renters,........

© New York Post