As society is returning to a pre-pandemic way of life restaurants and stores are opening, fans are back in the stands at your favorite sporting event, and folks are heading back into the office. However, this return to normalcy also signals the end of the Center for Disease Control and Prevention’s eviction moratorium, which has been in place since last September. On June 30 the policy will end and 11 million Americans who are behind on their rent could face eviction.
While nationally, only 6% of renters who make more than $75,000 are behind on their rent as of May 10th, the same survey suggests that 20% of renters who make under $35,000 are at risk of eviction. States, and the federal government, have approximately $45 billion in rental assistance that was allocated by Congress that has not yet been distributed. While this amount could help, the county’s rental arrears is believed to be as high as $70 billion. This arrear is sure to have long-term impact on renters and landlords that is yet to be seen.