by Calculated Risk on 5/15/2020 01:57:00 PM

From the NMHC: NMHC Rent Payment Tracker Finds 87.7 Percent of Apartment Households Paid Rent as of May 13

The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 87.7 percent of apartment households made a full or partial rent payment by May 13 in its survey of 11.4 million units of professionally managed apartment units across the country.

This is a 2.1-percentage point decrease in the share who paid rent through May 13, 2019 and compares to 85.0 percent that had paid by April 13, 2020. These data encompass a wide variety of market-rate rental properties across the United States, which can vary by size, type and average rental price.

“Once again, despite the economic and health challenges facing so many, we have found that apartment residents who live in professionally managed properties are meeting their obligations,” said Doug Bibby, NMHC President. “But it’s important to understand that our metric does not capture rent payments for smaller landlords or for affordable and subsidized properties. These excluded properties are the ones more likely to house residents experiencing financial stress. In addition, as current federal support programs begin to reach their limit, it will be even more critical for Congress to enact a meaningful renter assistance program. It’s the only way to avoid adding a housing crisis to our health and economic crisis.”
emphasis added

CR Note: It appears most people are still paying their rent.   This was a higher percentage than in April (at the same point in the month), and only down 2.1 percentage points from a year ago.  (Commercial is a different story).