How Many Renters Face Eviction when the Eviction Bans End? How Much Worse is it, Compared to the Good Times? | Wolf Street

About 44 million households (107 million people) rent their home: 33% a single-family house; 62% an apartment; and 4% a mobile home. Even before the Pandemic, a large number of renters paid their rent late, or made partial payments, or were a month or more behind and faced evictions. That’s the business of being a landlord, even during the Good Times. But how much worse is it now, on the eve of the expiration of the CDC eviction ban?

December started out on the worst note of the Pandemic yet: Through December 6, only 75.4% of households have made full or partial rent payments (some landlords allow partial rent payments) for December, based on a survey of 11.5 million professionally managed apartments, reported by the National Multifamily Housing Council (NMHC) today. This is a steep deterioration from November, when 80.4% of household had made a full or partial rent payment by November 6. Last year, 83.2% of households had made a full or partial rental payment by December 6:

It’s still a large number, the 1.36 million more renters than last year facing eviction, and it’s a tragedy for these renters, and it’s a tough business for landlords that have tenants who stopped paying rent.

How Many Renters Face Eviction when the Eviction Bans End? How Much Worse is it, Compared to the Good Times? | Wolf Street