$34 Billion Owed in Past-Due Rent by 2021, Report Says

Renters in the United States will owe up to $34 billion in past-due rent payments by the time the Centers for Disease Control (CDC) eviction moratorium ends at the end of this year, according to a report released 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 said that as of September 14, between 10 and 14 million renter households were behind on rent between $12 and $17 billion. The households are home to 23 to 24 million people. The overdue rents will grow to between $25 and $34 billion when the CDC eviction moratorium ends on December 31.

NCSHA’s report said 8 million renter households housing more than 20 million people could face an eviction filing by January 2021. The report assumed eviction notices when a tenant is three months or more behind on rent payments.

While 33 states have established emergency rental assistance programs in the last six months, NCSHA said they will not be able to meet current and future “overwhelming” need without more federal support.

“NCSHA has joined many other housing organizations in calling on Congress to make major investments immediately in the Emergency Shelter Grants program and Housing Assistance Fund proposed program, which states could use to provide emergency rental assistance,” the group said in a press release. “Federal assistance must be sufficient to alleviate the harm renters and landlords have already experienced and ensure renters can remain stably housed until the economy has fully recovered.”

Stout, Risius Ross LLC produced the report for NCSHA.