After surveying over 4,000 Americans, Apartment List’s latest report finds 31% of respondents failed to make their full May housing payments, up from 24% in April. In fact, 16% of those who were able to make their full housing payment on time in April haven’t yet been able to pay anything in May.
Key findings from the report:
- 22% of respondents have not yet made a housing payment for May, and an additional 9% have made only a partial payment. Missed payments remain common for renters and homeowners alike.
- More than half of households that couldn’t pay their April bill on time eventually closed the gap with late payments. By the end of the month, just 9% of Americans left a portion of their April rent or mortgage unpaid.
- Working from home continues to be a key factor in affording your rent or mortgage. Remote workers had the lowest May delinquency rate (20%) among any group that we surveyed.
- Despite May’s missed payments, optimism is improving. This month, a greater share of respondents said they are confident they will be able to continue affording housing through June, despite shelter-in-place restrictions.
You can view the full report here.