Source: The Wall Street Journal

Date Published: 08.05.2025

Link: How an NYC Suburb Is Actually Managing to Bring Rents Down

New Rochelle has become an example of how a city can push against Nimbyism to support supply side economics driving down rents. Forty minutes from midtown Manhattan, New Rochelle has seen the addition of 4,500 new apartment units with another 6,500 more in the pipeline or planning stages representing a 37% increase in new housing construction over 10 years. This housing boom has kept rents in check with median rents increasing only 1.6% over five years, standing in stark comparison to the 25% or higher increases in New York City and adjacent markets like Hoboken and Jersey City. To achieve this, city officials streamlined environmental reviews, offered developers tax incentives, and enabled more as-of-right development though standardized zoning rules to make it easier and cheaper to build homes. New Rochelle’s actions can act as a nationwide model as bipartisan legislation “which includes developer tax incentives and expedited environmental reviews” moves through Congress.