Fewer People Pay Their Rent On Time in July

by Mike ‘Mish’ Shedlock
The Street

The percentage of people paying rent so far this month fell 2.3% to 77.4%. Data is as of as of July 6.

The NMHC reports Fewer People Paying their Mortgage.

The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 77.4 percent of apartment households made a full or partial rent payment by July 6 in its survey of 11.4 million units of professionally managed apartment units across the country.

This is a 2.3-percentage point decrease from the share who paid rent through July 6, 2019 and compares to 80.8 percent that had paid by June 6, 2020. These data encompass a wide variety of market-rate rental properties across the United States, which can vary by size, type and average rental price.

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