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NMHC: Rent Payment Tracker Shows Households Paying Rent Increased YoY in Early December

by Calculated Risk on 12/08/2021 12:31:00 PM

From the NMHC: NMHC Rent Payment Tracker Finds 77.1 Percent of Apartment Households Paid Rent as of December 6

The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 77.1 percent of apartment households made a full or partial rent payment by December 6 in its survey of 11.8 million units of professionally managed apartment units across the country.

This is a 1.7 percentage point increase from the share who paid rent through December 6, 2020 and compares to 83.2 percent that had been paid by December 6, 2019. This data encompasses a wide variety of market-rate rental properties across the United States, which can vary by size, type and average rental price.

The NMHC Rent Payment Tracker metric provides insight into changes in resident rent payment behavior over the course of each month, and, as the dataset ages, between months. While the tracker is intended to serve as an indicator of resident financial challenges, it is also intended to track the recovery as well, including the effectiveness of government stimulus and subsidies.
emphasis added

Click on graph for larger image.

This graph from the NMHC Rent Payment Tracker shows the percent of household making full or partial rent payments by the 6th of the month compared to 2019 and to the first COVID year.

Although payments are down from 2019, rent payments are up from last year.

This is mostly for large, professionally managed properties.

The second graph shows full month payments through November compared to the same month the prior year.

For November, rent payments were down compared to November 2019 and 2020.

CR Note: There are some timing issues month-to-month.

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