White House Proposes Capping Rent Increases to Lower Housing Costs

A national rent increase cap would be in effect for two years, the Biden administration said.

President Joe Biden delivers remarks on the assassination attempt on Republican presidential candidate former President Donald Trump, at the White House on July 14, 2024. Kevin Dietsch/Getty Images

President Joe Biden could cap rent increases across the country at 5 percent as part of the current administration’s efforts to combat ballooning housing costs.

The White House confirmed on July 16 that the latest housing policy initiative would limit the ability of landlords to raise tenants’ rents.