Once the nationwide eviction moratoriums eventually expires, it could trigger a wave of apartment evictions across the US. According to research from Freddie Mac, 9 million Americans have accrued rent debt during the pandemic. The Mortgage Banker's Association estimates that rent debt totaled more than $9 billion at the end of the third quarter 2020.

Rent payment issues are directly linked to widespread unemployment during the pandemic. Unemployment hit 15% in April. The initial government support—which included an additional $600 in weekly unemployment benefits and a $1,200 stimulus check—helped to offset some rent payment issues, but those benefits expired in July leaving many renters unable to make rent payments.

The new stimulus bill could be arriving just in time. Research from the Philadelphia Fed has estimated that if households in need receive stimulus, only .4% of renters will face rent debt and potential eviction. However, without the stimulus, rent debt occurrence jumps to 10.6%, increasing the probability of widespread evictions.