The data is by all accounts ‘incomplete’, but that doesn’t mean it lack significance.
The National Multifamily Housing Council reports that across the U.S., approximately 31% of renters did not make a payment for the month of April before the 5th.
That’s a 13% increase over April 2019.
The analysis is a snapshot of 13 million renters, and does not include subsidized housing.
However, the increase comes as millions — upwards of 16.6 million — filed jobless claims across the U.S. in the last three weeks. That number is expected to grow, and record-setting unemployment rates are expected by the end of the month.