A new law under consideration in one of the most expensive housing markets in the country aims to make rental housing less expensive. Lawmakers in New York state are expected to approve a package of rent reforms before existing regulations expire on Saturday. The bill would expand tenant protections in New York City, capping rent increases on regulated apartments and making it harder to evict tenants, among other changes. It would also allow other cities and towns in the state to enact their own regulations, something most states prohibit. With more than half of American renters spending more than 30% of their incomes on housing, rent control is no longer just a big city issue.
Click the audio player above to hear the full story.
If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air. But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.
Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.
When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.
