Seventy-seven percent of apartment households made a full or partial rent payment by June 6, according to The National Multifamily Housing Council's survey of 11.7 million units of professionally managed apartment units across the country.
June 6's 77% mark is a 3.8 percentage point decrease from the share who paid rent through June 6, 2020. By June 6, 2019, 81.6% had paid. However, NMHC points out that June 5th and 6th fell on the weekend in 2021 and may not provide a direct comparison to last year's figures.
The new survey results are another indicator of a strengthening economy, a recovering job market and robust demand in the apartment industry, Doug Bibby, NMHC President said in a prepared statement. "Having weathered the worst of the pandemic, we can say with increasing confidence that the outlook for the multifamily sector is as positive as it has been in years," he added.
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.
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.
