It’s clear that the pandemic has impacted New Yorkers’ ability to pay rent. What’s less clear is exactly how much rent debt has been amassed since the beginning of last year — a crucial piece of the puzzle for policymakers in determining how much relief to extend to tenants and landlords.
A report released Wednesday by New York University’s Furman Center aims to inform the efforts of lawmakers in apportioning those funds.
The findings offer a snapshot of citywide rent debt by analyzing rent owed by tenants in 13,163 affordable housing units concentrated in the South Bronx and North Brooklyn. (Some data was included for units in Manhattan and Queens.)
The analysis focuses on buildings with over nine units with apartments financed by Low-Income Housing Tax Credits (LIHTC). Some units are also home to recipients of Section 8 vouchers. The buildings used in the sample were able to provide granular rent ledger data, enabling the Furman Center to take a detailed look at the distribution of arrears.
According to the report, rent owed by tenants in the sample more than doubled during the first year of the pandemic, while the portion of families that have incurred severe rent debt has jumped even higher.
