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Survey data: 31% of Americans missed housing payments in May

That's up from 24% in April.
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Posted at 2:32 PM, May 07, 2020
and last updated 2020-05-07 14:35:25-04

New data shows that nearly 31% of Americans could not make their full May housing payments, according to Apartment List.

The online marketplace surveyed over 4,000 Americans to find the new monthly data, which is up from 24% in April.

As the impact of the novel coronavirus continues, some homeowners and renters are still trying to figure out how to make their housing bills.

According to Apartment List, nearly 1 in 4 Americans were not able to pay their housing bill in the first week of April.

Apartment List's report read, in part:

"To better understand the degree to which Americans are struggling to make these payments, we ran the second edition of our housing affordability survey in the first week of May, asking over 4,000 renters and homeowners whether they were able to pay their housing bills. The responses paint a picture that contains both good news and bad news. On the positive side, most of the bills that were missed in the first week of April were ultimately paid later in the month, as renters and homeowners worked out alternative arrangements with landlords and lenders. However, data from the first week of May indicate an even larger payment gap than what we saw last month. Over thirty percent of May housing bills have yet to be paid in full."

Read the full data report here.

The Department of Labor said that 3.2 million people filed initial claims for unemployment for the week ending May 2, meaning that at least 33 million Americans have lost their jobs in a seven-week span.

A recent survey from the Economic Policy Institute indicates that millions of Americans gave up filing for assistance or haven't even tried because they knew systems would be overloaded.