4.5% for two-year leases
BRI: Progress on RGB Vote, but Cost Pressures Persist
On June 22, the Westchester County Rent Guidelines Board approved rent adjustments of 3.5% for one-year leases and 4.5% for two-year leases for rent-stabilized apartments, effective October 1, 2026.
The Building & Realty Institute of the Hudson Valley (BRI) said the approved increases represent a departure from the lower adjustments adopted in recent years, while noting that housing providers continue to face significant financial pressures from rising operating costs and regulatory requirements.
“The Board’s decision is a more realistic recognition of the challenges facing housing providers,” said Alana Ciuffetelli, Chair of the BRI’s Apartment Owners Advisory Council (AOAC). “However, owners continue to face pressures that affect their ability to maintain, improve, and preserve their properties over the long term.”
Operating costs continue to rise across nearly every category, including insurance (10.3%), utilities (5.2%), oil and gas (7.5%), and higher interest rates (5%). Property owners are also anticipating higher regulatory costs in the next year, including from the NYS Department of Health Lead Rental Registry program, which takes effect this year.
The BRI noted that while the approved adjustments provide some relief, many housing providers continue to grapple with years of accumulated cost increases that have outpaced allowable rental income. The approved increases also remain below the current rate of inflation, further illustrating the ongoing gap between rising costs and available revenue. In addition to rising day-to-day operating expenses, owners of older rent-stabilized buildings face growing demands related to building systems, capital improvements, and compliance with new state and local regulations.
“We know affordability remains a concern for many residents, and property owners understand those challenges,” Ciuffetelli said. “At the same time, preserving safe, quality housing requires ongoing investment. The long-term health of Westchester’s rent-stabilized housing stock depends on ensuring that owners have the ability to keep pace with rising costs and continue investing in their buildings.”
The BRI emphasized that maintaining and preserving existing housing must remain a priority as Westchester continues to confront a regional housing shortage. The organization will continue advocating for policies that support housing preservation, encourage investment in aging buildings, and ensure that rent-stabilized housing remains sustainable for both residents and housing providers.
