You are reading

One in Four Americans Can’t Pay Their April Rent: Study

Stock: Unsplash

April 8, 2020 By Christian Murray

Nearly one-quarter of Americans are unable pay their April housing bill, according to a new study released by the real estate firm Apartment List.

The study, based on a survey of more than 4,100 people nationwide, revealed that 25 percent of renters say that they are unable to pay their full April rent. The survey found that 13 percent of renters are only able to pay part of April’s rent while 12 percent are unable to make a payment at all.

In a typical month about 4 percent of renters are unable to pay the full bill, according to the survey.

The percentage of homeowners with a mortgage who are struggling to make payments is similar, according to the study.

The survey found that 23 percent are unable to make a full payment to their lender—with 11 percent of homeowners only able to make partial payment and 12 percent unable to make a payment at all.

Younger Americans—respondents under 30—are struggling the most, with the survey finding that 30 percent of this group are unable to meet their April housing costs.

The survey, conducted between April 3 and April 5, reflects the recent unwinding of the economy as the nation deals with the COVID-19 pandemic. In the past two weeks more than 10 million workers have filed for unemployment and April 1 was the first time since the national crisis began that the rent and mortgage payments became due.

The survey found that among those who missed their full payments—45 percent of renters and 44 percent of respondents with mortgages–were able to work with their landlord or bank to reduce or defer payments.

In New York, steps have been taken to reduce the burden, with Governor Andrew Cuomo issuing an executive order halting evictions and foreclosures for 90 days. He also ordered mortgage payments to be suspended for 90 days for borrowers who face financial hardship such as losing their job.

“This is a real-life benefit,” Cuomo said last month in announcing the suspension of mortgage payments. “People are under tremendous economic pressure. Making a mortgage payment can be one of the number one stressors. Eliminating that stressor for 90 days, I think, will go a long way.”

But some New York legislators are calling for rent forgiveness arguing that tenants won’t have 3 months rent saved by the time the eviction notices are sent.

State Sen. Mike Gianaris introduced legislation late last month that would suspend and forgive rent payments for residential and small business tenants for 90 days, as well as provide some relief for small property owners.

“New Yorkers live paycheck to paycheck and do not have three months of back rent saved,” Gianaris said.

Cuomo has been reluctant to support Gianaris’ bill.

The survey painted a bleak picture for Americans should the economic shut down continue.

It asked survey respondents how they would fare if they were to lose their income indefinitely.

Among the renters, 79 percent said they could pay the rent next month, with 55 percent saying they could pay after two months. However, the number drops to 28 percent if they were not to have income for three months.

The numbers were not quite so alarming for people with mortgages—until the three-month mark is reached. At that point, only 46 percent of homeowners said they would be able to pay their mortgage.

email the author: news@queenspost.com

5 Comments

Click for Comments 
Cg

Something needs to be done. A family who goes from an income to NO income or half an income is not living beyond their means. Nobody plans for this .

6
3
Reply
Charles

Plans should be made. There is always a way to save for a “rainy day” and one should.

5
4
Reply
Charles

Forgive the rent? At whose expense is this?
People need to manage better. Shame on you for suggesting this forgiveness at the expense of someone else. People need to live within their means and not above it.
A WIC card and 6 inch polished nails. There is a problem when they are driving a more modern car than I am. This is not to say this is everyone however a good portion. This virus would not have spread had some of the greedy landlords had not split up apartments into single rooms and been allowed to get away with. Why are so many of these complaints fallen on deaf ears some houses have
hundreds of complaints only to be closed out.

9
17
Reply
Trump is giving free taxpayer money to everyone

I agree, the ultra-wealthy elite developers like Trump need to earn a living too! This is different than Trump giving out money because…reasons?

2
2
Reply

Leave a Comment
Reply to this Comment

All comments are subject to moderation before being posted.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent News

MTA opens three new modernized elevators at the Queens Plaza subway station in Long Island City

The Metropolitan Transportation Authority (MTA) announced the opening of three new modernized elevators at the Queens Plaza E/M/R subway station in Long Island City earlier this month as part of a larger accessibility and safety upgrades throughout the transit system.

The work included a full replacement of the cab and equipment within the cab, shaft and pit, along with two new elevator head houses located at street level. Crews also made modifications to the shaft and pit as needed to allow for new equipment. The elevator machine room and electrical and mechanical equipment received replacements and other modernization efforts for reliability.

Queens Together launches ‘Unofficial US Open Dining Guide’ encouraging fans to sample restaurants along the 7 line

Aug. 20, 2025 By Shane O’Brien

The US Open returns to Flushing Meadows Corona Park this Sunday, with more than 1 million attendees anticipated to take mass transit to the iconic annual tennis event. With hundreds of thousands of fans set to take the 7 out to the Billie Jean King National Tennis Center, there is a world of delicious local eateries lying beneath the elevated train tracks should any fan wish to stop en-route to the US Open.

Can Queens’ food scene thrive with both trucks and restaurants?

Aug. 19, 2025 By Jessica Militello

In Jackson Heights at 4 p.m. on a Thursday afternoon, Roosevelt Avenue is buzzing with energy as commuters file in and out of subway cars and onto the street and cars and trucks grapple to get down the busy road. The street is filled with rows of shops and restaurants, along with food carts, street vendors and food trucks along the avenue. The almost-but-not-quite the weekend lag leaves hungry commuters faced with another choice to make throughout their day and the array of food truck options in busy areas like Jackson Heights offers customers convenience and delicious food without breaking the bank, two features that can feel vital, particularly with rising costs of living and pressure from inflation.