Manhattan's median rent reached $4,625, increasing by 7.6 percent compared to last year, while Brooklyn's median rent saw a 1 percent increase to $3,733. Zohran Mamdani has directly addressed the crisis of housing affordability on the campaign trail, impacting the re-election prospects of incumbent Mayor Eric Adams. Mamdani's support for a rent freeze contributed to his recent primary victory over Andrew Cuomo. Billionaires are concerned about Mamdani's policies, but a rent freeze will not hinder new housing development significantly as it mainly applies to older buildings.
The crisis of affordability, in which housing costs loom largest, is the issue that Mamdani has addressed most directly and forcibly on the campaign trail.
Median rent in Manhattan in June was $4,625, which was 7.6 percent higher than it was one year earlier.
Mamdani's support for a rent freeze clearly played a major role in his decisive victory over former Gov. Andrew Cuomo in last month's Democratic primary.
A Mamdani rent freeze will not deter private developers by one measly iota from building new projects to their hearts' contents.
Collection
[
|
...
]