Despite Depression-level unemployment, new data from the National Multifamily Housing Council (NMHC) Rent Payment Tracker shows that renter households had an easier time paying rent on time in May than in April.
NMHC finds that 80% of renter households in the country paid rent on time this month, just a 1.5% drop compared to the households that paid on time in May 2019.
Property management software firm RealPage found that 84% of renter households in the DC region paid rent on time in May compared to 71% last month and 88% in May 2019.
For DC proper, 81.5% of renter households paid on time this month compared to 85% last May. Because the tracker includes households that made partial payments, the higher rate could be the result of more renters securing payment plans with their landlords.
Payment habits aside, there continues to be a push for federal rent relief from tenants, tenant organizers, and the multifamily industry.
"We are in uncharted waters and will be watching this closely over the course of the month as millions of households will not be able to access unemployment benefits, and those who have may find that they are not enough to cover rent plus all the other financial pressures caused by this crisis,” NMHC president Doug Bibby said in a statement. “Those benefits will also likely fall short in high-cost areas. That’s why we are calling on Congress to include $100 billion in direct renter assistance in the next pandemic relief package.”
This article originally published at https://dc.urbanturf.com/articles/blog/more-dc-area-renters-paid-on-time-in-may/16818.
Most Popular... This Week • Last 30 Days • Ever
For this week's rundown, UrbanTurf catches up on the latest news regarding developmen... read »
The 30,000 square-foot home has been privately offered for sale since 2018.... read »
DC's Office of Planning recently looked at DC's migration patterns in 2022. Today, Ur... read »
The residential conversion at a former bowling alley in DC is moving forward, and new... read »
When interest rates doubled in the second half of 2022, activity in the regional hous... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
Why condo fees are high in some buildings and low in others can be a difficult questi... read »
Dupont Circle’s Swann House, a former 15-bedroom bed and breakfast, will be listed ... read »
The two-building project will include approximately 825 residential units, 151 lodgin... read »
The development will be located a few blocks south of the Takoma Metro station.... 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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro