Eviction Moratorium Covers One in Four Rental Units Nationwide

• April 7, 2020

by Nena Perry-Brown

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 

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• 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
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• 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?
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• 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 http://dc.urbanturf.com/articles/blog/federal-eviction-moratorium-covers-one-in-four-rental-units-nationwide/16685