The cost of living in roughly 1 million rent-stabilized apartments across the city is set to go up this week.

Starting Tuesday, Oct. 1, New Yorkers in rent-stabilized apartments will see increases of 3% on one-year leases and 4.5% on two-year leases.

The city’s Rent Guidelines Board, composed of nine mayoral appointees, voted 5-4 in June for an increase higher than the minimum in the possible range, after Mayor Eric Adams previously urged the board to “adopt the lowest increase possible.”

The raised rents are taking effect just days after Adams abruptly exited his reelection bid. With Adams out of the race , voters are left deciding between independent former Gov. Andrew Cuomo, Republican Curtis Sliwa and Democratic frontrunner Zohran Mamdani, who has made freezing stabilized rents

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