Top 5 Highest and Lowest Rent Collection States of April 2020

Updated: Mar 7

We all know that COVID-19 has created a major impact in the world, as well as the US markets. April rent collections were fully anticipated to be lower, though the positive news is that the impact has not been as severe as anticipated thus far. When evaluating projections for overall collection impact, there are a number of factors to be taken into consideration for each market. Many syndicators and investors are now facing challenges at identifying if they should continue to buy and/or sell, or hold.

As my team has diligently spent weeks pouring over this data, it proves both useful and important to remain aware of these statistics as we devise projections, and continue to evaluate our strategies for the upcoming months at protecting our cash flow and assets. Being mindful of not only the COVID rates within the state, but even more so, the economic impact including unemployment rates, impacted GDP industries, and rent collection trends are all vital information in implementing an effective strategy to mitigate the anticipated challenges.

Here are the top 5 and least 5 collection impacted states, along with their respective applicable COVID-19 and market data:

The 5 Lowest Rent Collection States in April 2020:

5. South Carolina

Rent Collections: 73%

COVID-19 Total Cases: 5,253

Unemployment Rate as of March 31st: 2.6%

Percentage of Renters Statewide: 31.25%

Top 3 GDP Industries in State: Aerospace, Agribusiness, Automotive

4. Tennessee

Rent Collections: 72%

COVID-19 Total Cases: 9,189

Unemployment Rate as of March 31st: 3.5%

Percentage of Renters Statewide: 34.57%

Top 3 GDP Industries in State: Agriculture, Manufacturing, Tourism

3. Arkansas