How Much Assistance Is Needed To Support Renters Through The COVID-19 Crisis?.pdf

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Preview of How much assistance is needed to support renters through the COVID-19 crisis?
🔗 Source: urban.org
📊 Size: 224 KB
👤 Author: [email protected];[email protected];Choi, Jung;Reynolds, Kathryn;Goodman, Laurie
⬇️ Downloads: 69

Summary

Researchers estimated the amount of assistance needed to support renters through the COVID-19 crisis, comparing four published estimates and using a new methodology to stratify who is most affected and estimate unpaid rent. They simulated the effect of job loss on renter households using Bureau of Labor Statistics data. The estimates include:
1. $21.3 billion a month in income support to return renter households to their previous rent-to-income ratio, with 78% currently covered by state unemployment insurance and the CARES Act supplement.
2. $5.5 billion a month in rental assistance without state unemployment insurance and the CARES Act supplement, and $1.8 billion a month with these supplements.
3. $15.5 billion a month to alleviate housing cost burdens for renters spending more than 30% of their income on rent, and $11.9 billion a month if paired with state unemployment assistance and the CARES Act supplement.

Description

Researchers estimated the amount of assistance needed to support renters through the COVID-19 crisis, comparing four published estimates and using a new...

Technical Information

  • File Format: PDF
  • File Size: 224 KB
  • Pages: 14
  • Language: EN
  • Author: [email protected];[email protected];Choi, Jung;Reynolds, Kathryn;Goodman, Laurie
  • Total Downloads: 69
  • Last Updated: 4 weeks ago

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