NMHC Rent Payment Tracker

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NMHC Rent Payment Tracker Finds 77.0 Percent of Apartment Households Paid Rent as of June 6

The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 77.0 percent of apartment households made a full or partial rent payment by June 6 in its survey of 11.7 million units of professionally managed apartment units across the country.

This is a 3.8 percentage point decrease from the share who paid rent through June 6, 2020 and compares to 81.6 percent that had been paid by June 6, 2019. It should be noted that June 5th and 6th fell on a weekend in 2021 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.

"Today’s data is the most recent indicator of a strengthening economy, a recovering job market and robust demand in the apartment industry," said Doug Bibby, NMHC President.

"Having weathered the worst of the pandemic, we can say with increasing confidence that the outlook for the multifamily sector is as positive as it has been in years.

"However, while the long-term view is encouraging, we have significant challenges before us. Construction costs are rising at almost unparalleled rates, making it increasingly difficult to bring affordable apartment homes to market. At the same time, more and more firms are reporting significant challenges in finding labor, further delaying construction.

"Finally, federal lawmakers should be applauded for passing legislation that resulted in almost $50 billion in rental assistance funds – a top industry priority. This comes as the industry continues to work alongside its residents to keep them stably housed, setting up payment plans and helping those in need secure rental assistance. However, a national eviction moratorium remains in effect. The continuation of this policy will ultimately only serve to place insurmountable levels of debt on already struggling households. We have much to look forward to, but these challenges are real and need to be dealt with urgently."

Rent payment tracker data is updated on the 2nd business day after the 6th of the month. The next update will be at 10:00am ET, July 8, 2021.

Watch the recording of the June 8, 2021 Webinar >>>

Additional data for all rentals can be found in the Census Bureau's Household Pulse Survey >>>

Explore the Data

**Unit counts may change to reflect refinements to the methodologies and changing occupancy levels due to move in-move out activity.

* These figures are as initially reported; these are calendar days, so the specific day of the week can have an affect on these reported figures, as leasing offices can have reduced hours or be closed on those days, creating potential delays for payment processing.

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Methodology

The NMHC Rent Payment Tracker is a cumulative data tool. Approximately every other week, the PMS providers submit two data points to NMHC: the percentage of apartment households that paid their rent for a specific time period and the total number of occupied units in their data universe (see exclusions listed above). Data is submitted on the following schedule: week one: from the first day of the month through COB on the 6th and from the 1st through the last day of the month, giving us a monthly data point for the “percent who paid”. To recap, the “percent who paid” number will increase each week, until we reach our final “percent who paid” number for the month (see below for how partial rent payments are addressed).

When establishing the initial dates for the Rent Payment Tracker, NMHC wanted to track when rent was officially "late" and used the close of business on the 5th as that date. After consultation with property managers and data providers we were informed that a variety of dates are used to determine when rent is considered late, with some saying rent isn't late until as late as the 10th. In addition, those that use the 5th as their deadline reported that many people pay on the last day possible and that some of those payments aren't posted until the 6th. Based on this information, NMHC adjusted its methodology to make the close of business on the 6th the deadline for the first week. Moving this date also moved all other reporting dates by one day.

Release Date	Number of Units	NMHC Press Release
June 8, 2021	11.7 million	Press Release - June 8
May 10, 2021	11.7 million	Press Release - May 10
April 8, 2021	11.6 million	Press Release - April 8
March 9, 2021	11.6 million	Press Release - March 9
February 9, 2021	11.6 million	Press Release - February 9
January 8, 2021	almost 11.3 million	Press Release - January 8
December 8, 2020	11.5 million	Press Release - December 8