Nearly 20 Percent of American Renters Are Behind on Payments, Analysis Shows

About 18% of renters, or roughly 10 million people, in the U.S. are behind on their monthly payments as of early January, according to an Urban Institute analysis.

Researchers Jim Parrott, a fellow at the Urban Institute, and Mark Zandi, the chief economist of Moody’s Analytics, calculated that 18% of U.S. renters were behind on payments and warned that if lawmakers didn’t act fast, there could be a major eviction crisis. The average delinquent renter is four months behind on payments and owes $5,600, the researchers estimated using Bureau of Labor Statistics figures.

Read More