Market-rate rent collections have hit a three-year high while lagging behind for affordable housing.
Rent collections in February 2023 climbed to 96.03%, the highest rate since March 2020, according to RealPage.
Improving rent payments provide further evidence that market-rate renters are generally in stronger financial shape than widely believed, RealPage noted. To arrive at its figures, RealPage measures the actual share of rent paid compared to the amount due each month in millions of professionally managed apartment units.
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