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The rents in rent-controlled apartments in New York City are governed by the Maximum Base Rent (MBR) system. This system is based on a mathematical formula for computing the maximum rent levels for each controlled apartment in the city. This theoretical MBR represents an approximation of the actual income required to operate the housing unit under current costs, including an 8.5 percent return on the equalized assessed value. The MBR is adjusted every two years to reflect changes in economic conditions.
