Affordable housing rent collections continue to struggle as the pandemic wears on. According to a new report from proptech company MRI Software, affordable housing rent collections were 77% of 2019 collections in August, and 76% of collections in July 2019. The report pulls from 1.5 million affordable housing units located throughout the US.
Affordable housing is traditionally a strong performer during a downturn but in this recession rent collections are lagging likely because service workers have been heavily affected by the shutdowns and resulting furloughs.
One exception has been public housing, which has seen strong rent collections, no doubt due to the government support. In August, public housing rent collections were 94% of rent collections in August 2019. In July, public housing rent collections were 96% of July 2019 collections.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Kelsi Maree Borland
