NMHC Says 75.4% of Apartment Households Paid Rent by December 6th – Real Estate Investing Today
The National Multifamily Housing Council (NMHC) says that 75.4% of apartment households made a full or partial rent payment by December 6th, 2020. This figure is 7.8% lower than those who paid rent through December 6, 2019 and compares to 80.4% that paid by November 6th, 2020. The data comes from the NMHC’s Rent Payment Tracker which uses data from 11.4 million professionally managed apartment units across the country.
“While the initial rent collection figures for the first week of December are concerning, only a full month’s results will paint a complete picture. However, it should not come as a surprise that a rising number of households are struggling to make ends meet. As the nation enters a winter with increasing COVID-19 case levels and even greater economic distress – as indicated by last week’s disquieting employment report – it is only a matter of time before both renters and housing providers reach the end of their resources,” said Doug Bibby, NMHC President.