Rent debt improved slightly in September as the economy has continued to improve and add back jobs.
Although occupancy has fallen in both urban and suburban areas since the pandemic started, the impact has been more pronounced in the urban areas.
The pandemic immediately impacted apartment leasing activity, but about six weeks into the pandemic, leasing activity rebounded to normal levels.
The spread between interest rates and commercial real estate cap rates is near the widest point on record, offering investors a rare opportunity to capitalize on this yield premium and boost levered returns.
This is a 2.4-percentage point, or 279,457-household decrease from the share who paid rent through September 13, 2019, and compares to 86.9 percent that had paid by August 13, 2020.
After COVID-19 hit in the second quarter, the balance changed, shifting to lower-density markets, including exurbs of large metros and smaller metropolitan areas