April Sees 13% Drop in DC Area Tenants Paying Rent on Time
✉️ Want to forward this article? Click here.
A day after the National Multifamily Housing Council (NMHC) debuted its Rent Payment Tracker, metro-level data is emerging on how rent-paying habits have changed in the wake of the COVID pandemic.
In the DC area, 71% of renter households had paid rent through the first five days of April, property management software provider RealPage has shared with UrbanTurf. This represents about a 13% drop from the payment rate seen during the same period last year (83.8%). The shift also nearly mirrors that seen nationwide, where 12% fewer renter households paid on time in April.
story continues below
loading...story continues above
"The year-over-year drop in Washington, D.C. is similar to what has been seen in other notable gateway markets like San Francisco, Chicago, and Boston," RealPage market analyst Adam Couch told UrbanTurf. "However, one notable characteristic for Washington, D.C. is that it’s the nation’s capital. Government jobs tend to be the most stable employment category, and is the only job sector that added jobs in the past month."
This data covers the metropolitan statistical area, which spans from Jefferson County, West Virginia to Frederick, Maryland.
Thumbnail photo by Ted Eytan.
See other articles related to: dc area market trends, pandemic, realpage, renting in the dc area
This article originally published at https://dc.urbanturf.com/articles/blog/april-13-drop-in-dc-area-tenants-paying-rent-on-time/16699.
Most Popular... This Week • Last 30 Days • Ever
The eight-bedroom, 35,000 square-foot home in McLean known as The Cliffs went under c... read »
Mortgage rate buydowns can be a good option for buyers who want to save money on inte... read »
The new residential project would take the place of largely vacant office buildings a... read »
Plans filed this week provide the latest look at the 106-key hotel in the works at an... read »
This week’s Best New Listings includes a townhouse on a secluded alley block and a ... read »
- A $30 Million Sale? One Of The DC Area's Most Expensive Homes Finds A Buyer
- How Does a Mortgage Rate Buydown Work?
- 48 Apartments, Activated Alley Space And An Ode To Duke Pitched For DC's West End
- A Look At Georgetown's New 100-Key Hotel Along The Canal
- Best New Listings: One Of 10 On U Street; Moved By Horses To Tenleytown
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro