Urban Institute reports that one in 4 rental units in the U.S. have federally-backed mortgages and are therefore covered by FHFA's mortgage forbearance-for-eviction moratorium policy. This works out to a total of 9.6 million multifamily units. Other units in buildings that used Low-Income Housing Tax Credits or are covered by other federal subsidies, including vouchers, are also protected by this provision.
While data on all the country's federally-backed mortgages is incomplete, HUD data offers some insights on how this could cover renters in the DC area. In DC proper, 87 multifamily buildings have HUD-backed mortgages, totalling nearly 13,150 units, or one in 10 units citywide.
Fourteen of those buildings are in the 20020 zip code, followed by 12 in 20001 and 11 in 20009. The majority of the units are in Northwest (over 5,900) compared to just over 4,000 units in Southeast and 2,500 units in Northeast.
If nationwide numbers are any indication, the HUD-backed mortgages only account for one in 5 units that will be covered by the moratorium.
The eviction moratorium applies for 120 days and must be adhered to whether or not the mortgagee seeks forbearance. For multifamily landlords receiving forbearance, the eviction moratorium applies for 90 days.
Thumbnail photo by Ted Eytan.
UrbanTurf's Coverage of COVID-19
- Where Are DC-Area Residents Going (And Not Going)
- Three People Max, Six Feet Apart: Maryland Issues COVID-19 Guidelines to Realtors
- Proposed Bill Would Provide Mortgage and Rent Relief to DC Residents
- The Drive-Thru COVID Testing Rundown for the DC Area
- DCBIA to Lobby For Local Mortgage Relief To Help Renters
- From Virtual Open Houses to Focus Forums, How DC Brokerages are Maintaining Physical Distance
- Pandemic Puts DC Historic Review Applications On Hold
- One Title Company Implements Drive-Thru Closings
- How Coronavirus is Affecting Property Showings in the DC Area
- How Well is DC Doing at Social Distancing?
- Lyft To Donate Free Essential Rides
- Bank of America Allowing Borrowers to Defer Mortgage Payments
- A Look at 5 Housing Non-Profits in DC
- Van Ness Co-op Building Implements Strict COVID-19 Measures
- HUD, FHFA Suspend All Evictions, Foreclosures Through April
- Two Grocers and Mega Retailer Change Hours for Seniors
- DC Council Passes Sweeping COVID-19 Emergency Bill
This article originally published at https://dc.urbanturf.com/articles/blog/federal-eviction-moratorium-covers-one-in-four-rental-units-nationwide/16685.
Most Popular... This Week • Last 30 Days • Ever
The proposed district would encompass the neighborhood's commercial strip along Conne... read »
WTOP is reporting that The Heights, an eight-stall food hall that is taking over the ... read »
Where new housing is being built; the return of water in Dupont Circle; and a look at... read »
July Residential has filed plans with DC for a four-story, 50-unit apartment building... read »
A new residential project is on the boards for a DC neighborhood that hasn't seen muc... read »
UrbanTurf takes a look at the close-in Maryland zip codes where prices have risen the... read »
A new report out this week found that homes in the DC region are selling nearly a wee... read »
Today, we will take a look at the close-in Northern Virginia zip codes where prices h... read »
Hockey players and horse riders, this sprawling Virginia estate may be for you.... read »
DC's Board of Zoning Adjustment approved the requested relief for a planned 32-unit c... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
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!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro