FALLING SHORT

Almost a Third of Renters Missed This Month’s Payment, Says Report

New figures appear to show a surge in Americans struggling to make rent during the coronavirus pandemic.

There was a massive drop in the number of U.S. apartment renters who managed to pay their April rent in the first week of the month, The Wall Street Journal reports. The numbers, based on figures from the National Multifamily Housing Council, said only 69 percent of tenants paid any of their rent between April 1 and 5. That’s compared with 81 percent who paid in the first week of March and 82 percent in April 2019. The numbers appear to show a surge in Americans struggling to make rent during the coronavirus pandemic, which has hammered the economy and left millions without work. NMHC said many renters who haven’t yet paid may still pay later this month, and added that a rise in paperless payments over the weekend may not be included in the initial count. The numbers don’t include single-family homes, and the apartments counted exclude public housing and other subsidized affordable housing.