Is there a rent cap in New York?
Yes. Good Cause Eviction, Part HH of 2024 State Budget (only in NYC and municipalities that opt in) caps annual rent increases at the lower of 5% plus local CPI (3% default in our calculator) or 10% flat. Exemptions include Owner-occupied buildings of 10 units or fewer, Buildings with certificate of occupancy issued within the last 30 years (rolling), Rent-stabilized units (covered by separate stabilization law). Local rent-stabilized cities may have stricter caps that override the state rule.
Source: RPL 226-c (HSTPA 2019)
This is an informational answer based on RPL 226-c (HSTPA 2019) as of early 2026. It is not legal advice. Housing law changes year to year and local ordinances (especially in rent-controlled or rent-stabilized cities) can override or add to state law. For contested cases, consult a New York-licensed attorney.