Oct 26, 2021 - Economy

Rent relief flows

Illustration of a rack holding several keys.

Illustration: Brendan Lynch/Axios

More renters got help last month, as the Treasury Department released a record amount of emergency rental assistance.

Why it matters: After an initially slow rollout of the Treasury program, the Biden administration over the summer put pressure on states to speed up disbursements.

  • September also marked the first month after the Supreme Court overturned the federal ban on evictions. 

Driving the news: More than 510,000 households received support of nearly $2.8 billion in total in September, Treasury said Monday.

  • That's an 11% increase in households that received aid, and a 22% jump in the amount of aid disbursed, compared to August. 
  • All told, the program has facilitated 2 million household payments, totaling more than $10 billion.

Context: The federal government allocated a total of $46.55 billion in emergency rental assistance as part of last year’s coronavirus relief package and Biden’s American Rescue Plan.  

What we're watching: The Treasury Department will begin to reallocate unused state and local funds next month — and will send the money to states that are asking for more.

  • While states like New York are seeking more funding, 17 others, including Arkansas, have only spent 15% or less of their allocated funds.
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