1/3rd of Americans Miss April Rent Payment

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April 10, 2020

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According to a new study from the National Multifamily Housing Council, it was found about a third of renters in the United States did not make their monthly payment by April 5, as a result of the COVID-19 pandemic.

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While 82% of tenants paid rent in April 2019, the study found only 69% paid in April 2020.

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This follows reports that nearly 10 million Americans applied for unemployment in March after the pandemic caused massive layoffs across the country.

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About 35% of renters lost income in march and 45% do not have enough money saved to cover rent payments, according to a survey cited by Yahoo! Finance.

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The NMHC data only includes 13.4 million of the 44 million renting households in the U.S., so the full impact of the pandemic on renters could be unknown until May, according to CNN.

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“People were working in March. April rent may have come from their savings,” Enterprise Community Partners CEO Priscilla Almodovar told CNN. “The rent check is probably the first thing they pay. Now they may be unemployed, and we don’t know what resources will get to them in time for May.”