Some 87.6 percent of apartment households made full or partial payments by July 13, according to the National Multifamily Housing Council—an uptick from the 77.4 percent of households who made full or partial rent payments by July 6. This has been a pattern for apartment rents since the pandemic began.
Indeed, this trend has been a boon for apartment owners, with the majority of tenants making rent payments by the end of the month, even if they miss the first of the month. The NMHC rent payment tracker shows that 95.9 percent of households paid full or partial rent in June, up 1.3 percent since April.
Perhaps not surprisingly, NMHC also found that the number of households in apartment rentals who made full or partial rent payments by mid-July decreased 2.5 percent from this time last year.
Doug Bibby, the NMHC president, cautions that many apartment rental tenants depend on unemployment benefits from the government. The benefits are set to expire at the end of July.
"Lawmakers need to continue to protect the individuals and families that call an apartment home," Bibby said. "If action isn't taken now we risk making the nation's housing affordability challenges far worse, rolling back the initial economic recovery and putting tens of millions at risk of greater health and financial distress."
The majority of tenants have been making rent payments by the end of the month. The NMHC rent payment tracker shows that 95.9 percent of households paid full or partial rent in June, up 1.3 percent since April.
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Pearl Wu
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