# Your Money, Your Savings: How Buying Avoids Rent Hikes

> Buying homes in NYC saves money long-term by avoiding annual rent increases.
- Title: Your Money, Your Savings: How Buying Avoids Rent Hikes
- Summary: Buying homes in NYC saves money long-term by avoiding annual rent increases. Buying property in NYC prevents annual rent hikes through fixed monthly costs…
- Keywords: new york city, rent, buying, mortgage, property, annual rent hikes, news, local, Money, Savings, Avoids, Hikes
- Source: ABC7 New York — https://abc7ny.com/post/money-savings-how-buying-could-help-avoid-annual-rent-hikes/19867356
- Published: 2026-09-24T21:11:30+00:00
- Read time: 1 min
- Topics: new york city, rent, buying, mortgage, property, annual rent hikes, news, local
## Rent Hikes in NYC
Renters face annual rent increases while homeowners avoid them through fixed monthly costs.
## Upper West Side Example
A $399,000 co-op requires $2,100 monthly mortgage plus $1,000 for taxes and maintenance.
## Other NYC Properties
Inwood $500,000 two-bedroom apartment needs $2,700 monthly mortgage; Midwood $275,000 one-bedroom needs $1,465.
## Bronx Property Example
A $650,000 Bronx house has $3,400 monthly mortgage with $500-$1,000 extra for taxes and fees.
## Broker Insight
Brown Harris Stevens broker Jessica Cohen says the numbers make sense for ownership as rents rise significantly.
## Owner Advice
Nelson Aspen, 71, says buying freezes rent costs and is the best investment in NYC.
## Key takeaway

Buying property in NYC prevents annual rent hikes through fixed monthly costs compared to rising rents.