Before the pandemic was on our radar, an analysis of 2018 Census data by the Urban Institute found that residents of small multifamily rentals were more likely to work in the industries that would ultimately be hit hard by COVID-19. Consequently, 5 months into the crisis, surveys uncovered a 12-percentage-point gap in renters’ ability to keep up with their rent payments:
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34% of renters in small multifamily properties reported having missed a payment between March and August of 2020, in comparison with just 23% of renters living in apartment buildings.
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Property Management
CHANGES IN RENTERS EMPLOYMENT SINCE 2020!
13
Oct
Oct
