Friday, May 22, 2020

NMHC: Rent Payment Tracker Finds 90.8 Percent Paid Rent as of May 20th

by Calculated Risk on 5/22/2020 10:24:00 AM

From the NMHC: NMHC Rent Payment Tracker Finds 90.8 Percent of Apartment Households Paid Rent as of May 20

he National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 90.8 percent of apartment households made a full or partial rent payment by May 20 in its survey of 11.4 million units of professionally managed apartment units across the country.

This is a 2.2-percentage point decrease in the share who paid rent through May 20, 2019 and compares to 89.2 percent that had paid by April 20, 2020. These data encompass a wide variety of market-rate rental properties across the United States, which can vary by size, type and average rental price.

"Each week we see new evidence that Americans are prioritizing rent and that the work apartment firms did to create flexible payment plans is paying dividends,” said Doug Bibby, NMHC President. “However, the hardships caused by the outbreak are not ending anytime soon. Accordingly, it is critical that lawmakers come together to support America’s 43 million renter households with a national rental assistance fund as was included in the House-passed HEROES Act, and to protect our housing providers with expanded mortgage forbearance.”
emphasis added
CR Note: It appears most people are still paying their rent.   This was a higher percentage than in April (at the same point in the month), and only down 2.2 percentage points from a year ago.