New Jersey city moves to cap rent hikes at just $20 what tenants need to know

Renters in one New Jersey city are getting a major break on housing costs — with annual rent increases capped at just $20 after voters overwhelmingly backed a measure to restore one of the state’s toughest rent-control protections.Residents of Elizabeth, a city just south of Newark Liberty International Airport, voted Tuesday to reinstate a decades-old rule limiting annual rent hikes on rent-controlled apartments to 3% or $20, whichever is less.The measure passed with roughly 68% support, according to unofficial election results, marking a victory for tenant advocates after years of legal battles with landlords and city officials.“I’m heartened that my hometown overwhelmingly voted to approve a measure that ultimately would make Elizabeth more affordable,” Isaac Jimenez, a member of the Freelizabeth campaign committee, told The Post.“Rent control is affordable housing, and most typically how people experience affordable housing.This is just the beginning for an era of tenant organizing and tenant power in Elizabeth.”But there’s a catch: The voter-approved ordinance is set to expire in December 2027, leaving its longer-term future in the hands of city officials.“The initiated ordinance would indeed expire [December] 2027 at which point the City Council would have to renew or amend the ordinance,” Jimenez told The Post.

“We hope the council will remember this result when that time comes.”Under the restored rule, a tenant paying $1,500 a month could see their monthly rent rise by no more than $20 over a 12-month period, rather than the $45 increase permitted under a straight 3% cap.That’s a potential savings of $300 over the course of a year compared with a $45 monthly increase, assuming both increases take effect for the full 12 months.The city’s median gross rent is $1,523, according to US Census data.The vote comes as North Jersey has emerged as a tougher rental market than Brooklyn or Queens, with nearly 95% of apartments occupied and r...