Rent Collection in Washington state remains low
This is a 1.8 percentage point decrease from the previous month of data collected.
The data encompass a wide variety of affordable and market-rate rental properties across Washington state, which vary by size, type, and average rental price.
We estimate that more that almost $900 million in rent is owing as a result of the COVID-19 pandemic. Efficient access to the more than $1.5 billion in rental assistance provided by the state and federal governments will successfully stabilize rental payments and provide the short-term stability needed to assist renters in maintain their on time rental payments. We must continue to focus on the immediate needs this pandemic has created for both housing providers and rental residents while understanding that long-term rental assistance will be most successful in creating long-term housing stability.
WMFHA has been collecting local rent payment information from its members since the COVID-19 pandemic proliferated in March 2020. The numbers serve as an indicator of resident financial challenges and will track the recovery as well.
The survey has become crucial to local policymakers to understand the state of the rental housing industry. It helps to inform any legislation that is produced in city, county, and statewide jurisdictions.
If you have any questions, please contact Brett Waller, Director of Government Affairs – email@example.com or 425.656.9077.
The rent payment survey is one of many WMFHA-produced resources focused on the COVID-19 pandemic.