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Apartment Rent Payments Fall for Third Straight Month

And the trend is likely to continue in September, forecasters warn, as states and FEMA try to roll out a program to partly restore unemployment benefits.

Apartment rent payments continued their downward drift in August. But the industry’s eyes are focused on September, as states try to fill in the gap from expired unemployment benefits provided by the CARES Act.

The number of households paying rent through August 27 stood at 92.1%, down from 93.3% in July and 94.2% in June, according to the National Multifamily Housing Council’s Rent Payment Tracker. The rate was down 1.9 percentage points year-over-year from August 2019′s 94%.

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Scott Graham

Scott Graham

Scott Graham focuses on intellectual property and the U.S. Court of Appeals for the Federal Circuit. He writes ALM's Skilled in the Art IP briefing. Contact him at [email protected].

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