The recent $600 stimulus provided a much-needed financial boost to renters, according to the Census Household Pulse Survey Update, which covers Jan. 6 to 18.
Forty-four percent of renter respondents to the survey used those stimulus payments to meet their regular financial obligations in the last seven days at the time of the survey. The Census began the survey last Spring to gauge the pandemic's effects on households' ability to meet their food and housing obligations.
"Those stimulus payments were really helping renters," says Claire Gray, a research associate at National Multifamily Housing Council, in a recent video. "You can also see that they've relied less on those less stable sources to meet their obligations, like credit cards, borrowing from friends and family and selling assets. The stimulus payments have been very helpful."
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
