The National Multifamily Housing Council (NMHC) on Wednesday reported a 12-percentage point decrease in the share of apartment households that paid rent through April 5, in the first review of the effect of the COVID-19 outbreak on rent payments. The Tracker found 69% of households had paid their rent by April 5; this compares to 81% that had paid by March 5, 2020, and 82% that had paid by the same time last year.
“The COVID-19 outbreak has resulted in significant health and financial challenges for apartment residents and multifamily owners, operators and employees in communities across the country,” said Doug Bibby, president of NMHC. “However, it is important to note that a large number of residents met their obligations despite unparalleled circumstances, and we will see that figure increase over the coming weeks. That is a testament to the quick, proactive actions taken by NMHC members who put forward bold solutions.”
The NMHC Rent Payment Tracker reflects data from 13.4 million units across the country. The Tracker will be updated on a weekly basis with new data released every Wednesday.
