Tenants in New York City’s roughly 1 million rent-stabilized apartments will face a fourth straight year of price hikes.The city’s Rent Guidelines Board on Monday in a 5-4 vote approved a 3% price increase for one-year leases that renew during the year beginning Oct.

Rent for more than two million New Yorkers will increase for the fourth year in a row. The Rent Guidelines Board on Monday voted to raise rents for stabilized apartments by 3 percent for one-year leases and 4.

The New York City Rent Guidelines Board voted on Monday night to increase rates for rent-stabilized apartments.By a 5-4 count, board members arrived at a 4.5% increase for two-year leases and a 3% hike for one-year leases,