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Rent Guidelines Board Considered Historic Data, Landlord Reported Costs, State and Federal Data In Making Recommended Rent Adjustments On Regulated Apartments
The Rockland Rent Guidelines Board (RRGB) has approved rent increases of 5 percent on one-year lease renewals and 6 percent on two-year lease renewals for rent-stabilized apartments in Spring Valley and the Town of Haverstraw.
The RRGB annually sets maximum allowable rent increases for leases commencing on or after October 1st of the current year and on or before September 30 of the following year for the 2,191 apartments under its jurisdiction. Those apartments, regulated under the Emergency Tenant Protection Act of 1974 (ETPA), provide residents with a panoply of tenants’ rights, including limits on allowable rent increases.
The only municipalities in Rockland that have rent-stabilized apartments are Haverstraw and Spring Valley. These designations are based on housing emergencies declared years ago under the ETPA, based on vacancies below 5 percent in buildings constructed before 1974. In Haverstraw, the ETPA applies to apartment complexes constructed before 1974 with more than 100 units. The majority of regulated apartments in Rockland are in Spring Valley.
In years past, the RRGB allowed modest rent increases, including multiple years (2018 through 2020) where no increases were approved. In 2021 and 2022, the RRGB approved a rent increases of .5 percent on one-year leases and .75 percent on two-year leases. In 2023, back to 0 percent and .5 percent, respectively. Last year, 2 percent and 3 percent.
After years of denying landlords rent increases reflective of market conditions going back to pre-COVID days, the RRGB made a decision reflective data evidencing ever-increasing housing costs both locally and regionally.
The RRGB considers multiple factors in making its approval decisions. It looks at the economic condition of the residential real estate industry in the County, including such factors as the prevailing and projected: (i) real estate taxes and sewer and water rates, (ii) gross operating and maintenance costs, (iii) costs and availability of financing, (iv) overall supply of housing accommodations and overall vacancy rates, and (5) relevant data from the current and projected cost of living indices for the affected area, as provided by government statistics.
The Board looks at aggregate income versus aggregate expenses in prior years dating back to 2022 and how those expenses are incurred (e.g. – taxes, insurance, maintenance, utilities, etc.) on a sampling of buildings based on landlord/management responses to surveys, as well as the rate of change (income growth vs expense growth).
The Board tracks income versus expenses over time, giving consideration to variations between buildings under its jurisdiction and found in recent years, costs exceeded income on average. Looking at specific buildings, costs exceeded expenses by over 115 percent for 13 buildings in 2023. Costs exceeded expenses by over 113 percent for 15 buildings in 2024. The Board also gave weight to projections for 2025, with recognition of increasing costs.
The Board also looked at federal and state data, including changes in the Consumer Price Index as it relates to housing costs. For calendar year 2024, the CPI for “All Items” increased by 4.3 percent. The Board also received April CPI statistics released by the United States Bureau of Labor Statistics on May 13, 2025. The CPI for “All Items” (April 2024 to April 2025 period) increased 3.9 percent while the CPI for the Housing component increased by 5.9 percent.
The United States Census Bureau estimated that as of July 1, 2024, there are 109,682 occupied housing units in Rockland County. Of the occupied housing units, 68 percent are owner- occupied and 32 percent are renter-occupied. These percentages include both regulated and unregulated rental housing units. The United States Census Bureau’s 2023 American Community Survey (ACS) reported that the median household income was $110,631. Also, the Census Bureau reported that 15.2 percent of individuals who reside in Rockland County had a household income that was below the poverty level. According to New York State Department of Labor, the unemployment rate for Rockland County in April 2025 was 2.5 percent.
Based on the data available to the RRGB, the Board recommended an increase of 5 percent for one-year renewals and 6 percent for two-year renewals beginning this year in October.
The Village of Nyack recently undertook several attempts to survey vacancy rates in apartment units constructed after 1974, but based on its most recent effort, it found the vacancy rate did not support a declaration of a housing emergency.
Participation in the ETPA requires a village or town to declare a “housing emergency,” which is defined as a vacancy rate below 5 percent in buildings constructed before 1974 with six or more units. Municipalities can adjust the number of units under the ETPA to suit local needs.
After failing to declare a housing emergency, Nyack adopted a “Good Cause Eviction” (GCE) law last September that protected tenants from evictions and denials of lease renewals without good cause.
The GCE limits when landlords can remove tenants or deny them lease renewals. It specifies that landlords cannot raise rents above a statutory threshold of 10 percent or 5 percent plus the localized Consumer Price Index (CPI), whichever is lower. Localized CPI is based on the increase in “fair market rent” (FMR), which is determined by the U.S. Department of Housing and Urban Development, published each year on or before August 1st. For Rockland County the FMR for a one-bedroom unit is $2,451; for a two-bedroom unit, it’s $2,752.
Based on the current CPI, the threshold annual rent increase under the GCE is limited to 8.8 percent. The GCE provides tenants with less protection than ETPA rent-regulated apartments, and rent-regulated apartments are exempt from GCE protections.
According to the RRGB, the average monthly legal regulated rent on buildings under its jurisdiction was $1,489. The median rent for entering tenants signing a one-year lease is $1,690 per month.
In Westchester, its County Rent Guidelines Board approved a rent adjustment of 2 percent for one-year leases and 3 percent for two-year leases starting October 1, 2025, through September 30, 2026.
