Although a one or two percent rent increase per year may not sound like a lot, the additional rent growth comes at a time when rents are already rising rapidly nationwide and half of renters are cost - burdened, spending 30 percent or more of their income on rent. (apartmentlist.com)
At the same time, the Rent Guidelines Board in June voted for a 1 percent rent increase for one - year leases and 2.75 percent for two - year leases, the lowest increase in multiple decades. (therealdeal.com)
The Rent Guidelines Board voted 5 to 4 to consider a 0 percent to 2 percent rent increase on one - year leases, and a 0.5 percent to 3.5 percent increase on two - year leases. (nytimes.com)