This month we see more of the same results as last month per the National Multifamily Housing Council (NMHC). The NMHC has been tracking apartment rent payments since April across 11.4 million units of professionally managed apartment units throughout the country.
October rent payment came in at 94.8% compared to 96.6% in October of 2019, a little less than a 2% difference. So far November is also looking strong. Rent payments through November 6th are at a 1.1 percentage point below where we were by November 6th, 2019 but 1 percentage point higher or better than where we were in October 6th of this year. These results continue to prove the resiliency of the asset class and are better than what was expected at the onset of the pandemic.