Libertarian vs Authoritarian: New Rochelle median rents are only 1.6% higher than in 2020, well below the 25% or higher increases in New York City and outer markets like New Jersey’s Newark, Hoboken and Jersey City, according to Apartment List. New Rochelle’s median rent actually declined 2% from 2020 to 2023, while median rent nationally was surging at a double-digit rate. City officials say they relied on a policy framework that encourages residential building. New Rochelle streamlined environmental reviews, offered developers tax incentives, and created standardized zoning rules to make it easier and cheaper to build homes.