With less than a month before the New York City mayoral election, Zohran Mamdani appears set to replace the embattled Eric Adams and write a new chapter in the history of the busy metropolis, which he has promised to make more affordable for its residents—especially renters.

But experts are warning that, even if Mamdani keeps his promise to freeze rents in New York City, another growing problem could chip away at any savings delivered to residents: rising home insurance premiums.

While the rent freeze has been framed as relief for tenants, rising insurance costs may emerge as a new affordability killer in New York City, housing experts and economists told Newsweek , undoing any savings tenants might have gained from a cap on rent.

What Are the Challenges Faced by NYC Renters?

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