x
Breaking News
More () »

Report: A third of renters didn't pay rent on time during the pandemic

According the National Multifamily Housing Council, as of April 5, about 31 percent of U.S. renters hadn't paid rent yet.

A record number of Americans have claimed unemployment in the last several weeks amid a sharp economic downturn caused by the coronavirus pandemic.

The domino effect of business closures and job losses means millions of Americans are struggling to pay essential bills like utilities and rent. As of April 5, about 31 percent of U.S. renters hadn't paid rent yet, according to a report from the National Multifamily Housing Council.

"The COVID-19 outbreak has resulted in significant health and financial challenges for apartment residents and multifamily owners, operators and employees in communities across the country," NMHC President Doug Bibby said.

The council said that while 69 percent of renters did pay April's rent, that was down from 81 percent in March. The council's data covers 40 million renters around the U.S.

The states that saw the biggest increase in unpaid rent in April were Louisiana and New York, CBS News reported. 

RELATED: St. Petersburg mayor and Florida leaders urge Gov. Desantis to halt evictions

RELATED: Coronavirus live updates: 16.8 million have filed for unemployment in past 3 weeks

Concerns over people losing their homes amid the pandemic are prompting many states to halt evictions. In Florida, Gov. Ron DeSantis signed an order halting evictions and foreclosures for 45 days. That order began on April 2.

According to data from the U.S. Department of Labor, more than 16 million people have filed unemployment claims in the past three weeks. Comparing that to the 151 million people employed in the last employment report means 10 percent of the U.S. workforce has dropped off in the last several weeks, according to CNBC.

These job losses are a direct result of the country trying to contain the spread of COVID-19. Stay at home orders have been implemented in more than 30 states, all but shuttering essential businesses and pushing millions to work from home if possible.

Some economists say the U.S. unemployment rate has jumped to at least 12 percent, the worst seen since the Great Depression in the 1930s, according to the Washington Post.

What other people are reading right now:

FREE 10NEWS APP: 

Download on the App StoreGet it on Google Play

Stay In the Know! Sign up now for the Brightside Blend Newsletter

Before You Leave, Check This Out