NMHC Rent Tracker Shows September Rents Lagging

Posted By: Jon Lowder Blog ,

NMHC released it's Rent Payment Tracker data for September 1-6, 2021 and they lag behind the rates from the same time period in 2019 and 2020. They caution, however, that the nunbers might be affected by the Labor Day holiday weekend and the natural disasters being experienced across the country at the time. From the report:

The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 72.0 percent of apartment households made a full or partial rent payment by September 6 in its survey of 11.7 million units of professionally managed apartment units across the country.

This is a 4.4 percentage point decrease from the share who paid rent through September 6, 2020 and compares to 81.2 percent that had been paid by September 6, 2019. It should be noted that the holiday weekend and reporting issues relating to recent natural disasters may have impacted today’s data and therefore may not be a direct comparison to last year’s figures. This data encompasses a wide variety of market-rate rental properties across the United States, which can vary by size, type and average rental price.

Source: NMHC Rent Payment Tracker