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
No comments yet

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

Fresh Meadows MS-13 gang associate sentenced to nearly a half-century in prison for murder of Corona teen in Kissena Park: Feds

An MS-13 gang associate from Fresh Meadows was sentenced to 45 years in federal prison on Tuesday, Aug. 26, for the 2018 slaying of a Corona teenager in Flushing’s Kissena Park.

Juan Amaya-Ramirez, 27, and his co-defendant Oscar Flores-Mejia, 25, from Elmhurst, who is also an associate of the transnational criminal organization, pleaded guilty to the murder of 17-year-old Andy Peralta in Brooklyn federal court last September.

Plant Powered Metro NY helps reverse chronic illness with food and community

Aug. 28, 2025 By Jessica Militello

When Northern Queens resident Sherika Sterling discovered Plant Powered Metro NY’s Jumpstart program, she was struggling with a list of health issues that she thought she would have to deal with her entire life. After joining the program and changing to a plant-based diet, she was able to reverse many of her chronic ailments, including being pre-diabetic, after being equipped with practical tools, knowledge and plant-based recipes.

AG’s office launches investigation into death of man run over by police officer in Flushing Meadows Corona Park

The New York Attorney General’s Office of Special Investigations (OSI) has launched a probe into the death of a civilian on Saturday, Aug. 23, following a motor vehicle collision involving NYPD officers in Flushing Meadows Corona Park.

At approximately 4:37 p.m., an NYPD officer from the 110th Precinct in Elmhurst was driving westbound in a marked police cruiser, a 2015 Ford Taurus, at around 10 miles per hour in front of the Queens Theater on United Nations Avenue South, across from the Unisphere, when the vehicle ran over a man who was allegedly lying face up on the roadway prior to the collision, police said.