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RENT-REGULATED & MARKET-RATE HOUSING
What Is It & Where Can You Find It?

Rent-Regulated Housing includes both "rent-controlled" and "rent-stabilized" apartments. Besides the benefit of rent increases that are set by a government agency, tenants in rent-regulated housing also have greater legal protections than those living in market-rate housing. For an apartment to be under rent control, the tenant (or the tenant's family if the apartment has been passed down to a qualified family member) must have been living in that apartment continuously since before July 1, 1971. When a rent-controlled apartment becomes vacant, it either becomes rent stabilized, or, if it is in a building with fewer than six units, it is generally removed from regulation. As a rule of thumb, rent stabilized apartments are in building built before 1974, have six or more apartments, and the rent upon moving in is below $2,500 per month. Apartments can also become rent stabilized if a developer utilizes the J-51 or 421-a tax incentive programs. Click here for a list of buildings in New York City with rent-stabilized apartments. As of 2011, rent stabilized apartments comprise approximately 59% of rental apartments in the Bronx, 43% of apartments in Brooklyn, 45% of Manhattan apartments, 42% of Queens apartments, and 15% of Staten Island apartments.

Market-Rate Housing is usually easier to find than rent-regulated apartments in New York City. However, tenants of market-rate housing have less legal protections regarding the right to a lease renewal and evictions. Owners of market-rate housing are not required to provide tenants with leases and are allowed to raise rents to whatever rate they feel the market can bear. Market-rate housing also tends to be more expensive, especially in "Core" Manhattan (south of 96th Street on the East Side and 110th Street on the West Side). Like rent-regulated housing, market-rate housing can be found city-wide, and is most prevalent in low-density areas where buildings typically have less than six units.


DISCLAIMER: The New York City Rent Guidelines Board does not own or rent apartments. Furthermore, this Apartment Guide is not meant to be a complete listing of housing resources, nor are we endorsing the websites linked to this guide. Unless otherwise indicated, we are not responsible for any opinions or comments expressed here. If you have any questions, suggestions, please contact us at ask@nycrgb.org.


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