Hey Tim,
In the wake of a nationwide eviction moratorium and lapsed unemployment supplements, renters continue to struggle to make housing payments.
This month, we found 10% of renters failed to make their full August payment by the end of the month, and 1-in-6 started September owing $1,000+ in missed rent.
In the first week of September, 32% had not paid their full rent bill. These figures reflect a slight and surprising improvement from August.
In the wake of a nationwide eviction moratorium and lapsed unemployment supplements, renters continue to struggle to make housing payments.
This month, we found 10% of renters failed to make their full August payment by the end of the month, and 1-in-6 started September owing $1,000+ in missed rent.
In the first week of September, 32% had not paid their full rent bill. These figures reflect a slight and surprising improvement from August.
Best,
Chris
CHRIS SALVIATI
Housing Economist
Apartment List
Key findings from the report:
- 31% of renters begin September owing rent for previous months. Among those with accumulated pandemic rent debt, nearly half owe less than $1,000.
- Rent debt is much more common among Black and Hispanic renters. 41% of Black renters and 48% of Hispanic Renters still owe rent from Spring and Summer months.
- Renters are making significant financial sacrifices to try to stay afloat. Among renters that have fallen behind on their payments, 30% report running up credit card debt, 31% have had to sell off assets, and 16% have dipped into their retirement savings.
You can view the full report here.
