What's Hot: $2 Million and Up: Luxury Home Sales in DC Rise 24% in 2020 | A Virtual Tour of More Than 30 DC-Area Developments
Eviction Moratorium Covers One in Four Rental Units Nationwide
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.
story continues below
loading...story continues above
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
See other articles related to: urban institute, the urban institute, moratorium, hud, fhfa, eviction moratorium
This article originally published at http://dc.urbanturf.com/articles/blog/federal-eviction-moratorium-covers-one-in-four-rental-units-nationwide/16685
Most Popular... This Week • Last 30 Days • Ever

UrbanTurf has compiled virtual tours from large new developments around the DC region... read »

The massive new development would sit on a triangular parking lot at First Street and... read »

The project has added 10 units since its last milestone approval in 2019.... read »

Airbnb announced Wednesday that it will cancel all reservations in the DC region duri... read »

A potential pilot program to tear down highways; land use along Montgomery County's t... read »
- A Virtual Tour of More Than 30 DC-Area Developments
- Douglas Development Pitches 557-Unit Development Across From Dave Thomas Circle
- From 60 to 72 Condos: Georgetown West Heating Plant Development Grows in Size
- Airbnb Cancelling and Blocking All Reservations in the DC Area During Inauguration
- Wednesday's Must Reads
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. Visit guides.urbanturf.com or 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