WASHINGTON, D.C. — The National Multifamily Housing Council (NMHC) Rent Payment Tracker has found that 76.6 percent of residents made full or partial January rent payments as of Jan. 6. Washington, D.C.-based NMHC surveyed its network of 11.3 million professionally managed apartment units across the country. The most recent figure is a 120-basis point increase over Dec. 6, 2020, when 75.4 percent of households made partial or full payments. January 2021, however, showed a 170-basis point decrease — or 192,613 households — from January 2020.
“While there is light at the end of the tunnel with the rollout of vaccines, the country and the multifamily industry continue to face steep challenges,” says Doug Bibby, president of NMHC. “The [U.S. Congress’] recently passed COVID relief package included $25 billion in desperately needed rental assistance, as well as expanded unemployment insurance. Now, it is critical that those funds reach those in need as quickly and efficiently as possible.”
The NMHC Rent Payment Tracker is powered by Entrata, MRI Software, RealPage, ResMan and Yardi.