U.S. renters will owe up to $34 billion in past-due rent by January, increasing eviction filings and imposing financial hardship on millions in just a few months, according to a report released today by the National Council of State Housing Agencies (NCSHA).
“This analysis is more proof that a huge wave of evictions and additional financial pain will crash on the American economy soon unless Congress authorizes emergency aid to renters,” said NCSHA executive director Stockton Williams.
The report by Stout Risius Ross estimates roughly 10 million to 14 million renter households—home to 23 million to 34 million renters—were behind on their rent by a total of roughly $12 billion to $17 billion as of Sept. 14.
These renters will owe $25 billion to $34 billion by January, when the Centers for Disease Control and Prevention’s (CDC’s) nationwide eviction moratorium expires. This rent shortfall estimate does not include any interest or fees landlords may charge, as allowed by the CDC eviction moratorium.
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