In keeping with the 2025 Revenue and Affordability Research by the NYC Lease Pointers Board, the median New Yorker spent roughly a 3rd of their earnings on lease final 12 months. Median asking lease reached $3,599 within the third quarter of 2025, a 5.4% enhance from final 12 months, based on Realtor.com’s newest NYC Lease Report.
Mamdani’s formidable housing overhaul
Mamdani, the progressive frontrunner, made affordability the cornerstone of his marketing campaign.
“The primary cause working households are leaving our metropolis is the housing disaster,” Mamdani mentioned.
His plan facilities on freezing lease for all stabilized tenants, tripling the manufacturing of “completely inexpensive, union-built, rent-stabilized houses,” and overhauling the Mayor’s Workplace to Defend Tenants.
“As Mayor, I’ll make metropolis authorities be just right for you,” he mentioned, referencing his expertise as a foreclosures prevention counselor.
