Nov 5, 2020 - Economy
Apartment dwellers feel the pinch
Add Axios as your preferred source to
see more of our stories on Google.
Although August was the worst month in 2020 for apartment dwellers paying their rent on time, in full or in part — 92.1% — things haven't gotten much better since then.
The big picture: "We have found a slight, but fairly steady, deterioration in rent payments," said Colin Dunn, a spokesperson for the National Multifamily Housing Council, which advocates for rent subsidies and ending evictions moratoria.
- The group's online rent payment tracker shows what percentage of lessees of its more than 11 million units made payments in a given week.
- The Oct. 27 survey — the most recent — saw a payment rate of 94.6%, up from 92.2% in September.
The bottom line: Given the economic pain caused by the coronavirus, the payment rates are staying fairly strong, Dunn said. "Compared to where they could have been, we remain encouraged."
