Renters in Miami, Houston, and Philadelphia are most behind on their rent, as an estimated 6 million people nationwide are late on payments, according to analysts at MyEListing.com. The cities are followed by New York and Chicago.
In Miami, 25% of renters are behind on rent, according to the survey. The city also sits atop a recent list from three academic researchers ranking the largest premiums and annual rent increases nationally. Ken Johnson, Ph.D., of Florida Atlantic University, Shelton Weeks, Ph.D., of Florida Gulf Coast University, and Bennie Waller, Ph.D., of The University of Alabama, found found that renters in Miami are paying 21.98 percent above the long-term rental trend and 21.92 percent more than they did a year ago.
Miami, Riverside, and Philadelphia metros also saw the biggest increase of renters unable to keep up with rent payments in 2022 compared to 2021, acccording to MyEListing.com, and in Miami, the percentage of those unable to keep up on rent rose 10 bps since last year.
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