Good evening, I am Brooklyn Borough President Antonio Reynoso, and I am here with a simple message on behalf of Brooklyn’s tenants: freeze the rent.
Mayor Adams raised rents 12.6% throughout his term, all while New Yorkers were struggling to put food on the table. That’s the highest rate of increase since the Bloomberg administration. Over the past four years, rents have gone up even faster than inflation, further squeezing the pockets of New Yorkers when the City could have stepped up to provide some relief.
Right now, tenants all over Brooklyn are struggling. It is more difficult than ever to find an affordable home or continue to afford the home you have. More than half of NYC households are rent-burdened, meaning they pay more than 30% of their income toward rent, and just under a third of Brooklynites pay more than 50%. We’re talking hundreds of thousands of people, including rent regulated tenants, just in this borough, choosing between paying rent and affording basic essentials. Evictions are up. Shelters are at the brink.
It’s not a surprise that the families who are leaving the city at the fastest rate are people of color who make between $32,000-$65,000/year.
Meanwhile, President Trump’s policies aren’t helping. Federal cuts are threatening programs that create affordable housing and help keep families in their homes. His economic agenda has resulted in more inflation, more income inequality, higher unemployment, and reduced access to public benefits.
Now is not the time to add even more burden on the backs of our city’s renters. In fact, after so many increases, what we really need to talk about is a rent rollback.
But given that this year’s proposed increase is 0-4%, I call on the Rent Guidelines Board to choose 0% for both one- and two-year leases. Keeping rent-regulated units affordable is one of the most important tools we have for fighting gentrification and displacement. A rent freeze will help ensure that families across New York aren’t just surviving, but can actually breathe and find dignity and stability.
We need smart policies that add truly affordable housing in our communities and keep people in their homes. And we will work together at all levels of government to deliver those policies.
Meanwhile, I call on the Rent Guidelines Board to meet this moment and deliver tenants some relief. Our communities are counting on you.
Thank you. Spread love, it’s the Brooklyn way, and freeze the rent.
