NMHC Rent Payment Tracker Finds 87.7 Percent of Apartment Households Paid May Rent
WASHINGTON, D.C. — The National Multifamily Housing Council (NMHC) released data this morning showing that 87.7 percent of apartment households paid their May rent as of Wednesday. Though the rate is 2.1 percent lower year-over-year, it is a 2.7 percent increase from April. Last week, the NMHC Rent Payment Tracker found 80.2 percent of apartment households paid their May rent as of May 6.
“Once again, despite the economic and health challenges facing so many, we have found that apartment residents who live in professionally managed properties are meeting their obligations,” says Doug Bibby, president of NMHC.
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.
The NMHC surveyed management companies responsible for 11.4 million units nationwide. There are 21.4 million apartments, in buildings with more than five units, according to the most recent American Community Survey from the U.S. Census Bureau. NMHC’s data does not track affordable housing units or units under control of smaller landlords.