New Delhi: Zohran Mamdani, the mayor of New York City, has emerged as a key political figure even before his election as the mayor of New York City in January 2026. Now, he has fulfilled his biggest campaign promise. Rents will not increase for about one million (10 lakh) homes in New York, one of the most expensive cities in the US. A vote was held in favour of this measure, marking a major victory for the Indian-origin, left-leaning Mamdani.

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Following this decision, rents for approximately one million homes covered by rent stabilization rules will remain unchanged. With this move, Mamdani has honoured a major pledge made during his election campaign. Mamdani identifies as a Democratic Socialist and prioritizes the politics of the common people over the interests of the wealthy.

Opposition to the Decision

Mamdani’s plan had previously received support during an initial vote by the Rent Guidelines Board in May. The initiative is aimed at halting rent hikes for about a million apartments in New York. According to a New York Post report, the decision to freeze rents was approved following a meeting attended by numerous tenants’ organizations.

Prior to the vote, a member of the Rent Guidelines Board resigned. Representing the interests of landlords, he stated that the board was no longer making decisions based on objective facts and was determined to freeze rents regardless of the circumstances.

Rising Rents in New York

Meanwhile, rents for other housing units continue to rise. In April, the average monthly rent for an apartment in Manhattan surpassed $5,000 for the first time. Concurrently, the vacancy rate dropped to 1.55 per cent—the lowest level in six years—indicating that people are renting homes despite the high costs.

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Soaring inflation and the rising cost of living have become major political issues in New York and other cities. This was a central theme of Zohran Mamdani’s political platform and a key factor in his election victory last November.



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