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Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

The river that supplies 40 million Americans is down to 23% — and about to make a $25 million bet on one fish

3

Jamie Dimon said the American Dream was slipping away. JPMorgan just put $40 million on the table to fix it
FinanceHousing

Nearly 1.4 million Americans expect to be evicted in the next 2 months

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
September 27, 2021, 1:06 PM ET

With eviction moratoriums overturned on a federal level and once again about to expire in many states, the housing crisis for renters could be about to reach a peak. And nearly 3.7 million people say they feel it is somewhat or very likely they’ll be tossed out in the next two months.

The most recent U.S. Census Bureau Household Pulse Survey, which was conducted from Aug. 18-30, finds that nearly 7.7 million Americans are behind on their rent. Nearly half, some 3.3 million, are one or two months behind, but 1.1 million are more than six months behind on rent payments (with nearly 744,000 being behind by eight months or more).

Around 1.3 million renters say it’s “very likely” they’ll be evicted in the next two months. Another 2.3 million say it’s “somewhat likely”.

The numbers are an escalation of already worrisome predictions about an eviction crisis facing America. In late August, Goldman Sachs warned that as many as 750,000 households could face eviction before the end of the year.

While the government has taken steps to make it easier for renters at risk to receive funds from the Emergency Rental Assistance program, it’s unlikely that money will arrive in time for thousands of families.

Here’s how the numbers break down by major metropolitan city, both in how many people are behind on rent and how many say it’s “very likely” they’ll face eviction within two months:

New York
– 938,595 people behind on rent
– 65,932 “very likely” to face eviction in next two months

Los Angeles
– 673,235 people behind on rent
– 158,537 “very likely” to face eviction in next two months

Chicago
– 273,369 people behind on rent
– 67,095 “very likely” to face eviction in next two months

Dallas
– 102,518 people behind on rent
– 22,777 “very likely” to face eviction in next two months

Houston
– 199,179 people behind on rent
– 41,983 “very likely” to face eviction in next two months

Washington, D.C.
– 122,054 people behind on rent
– 18,493 “very likely” to face eviction in next two months

Miami
– 351,299 people behind on rent
57,132 “very likely” to face eviction in next two months

Philadelphia
– 81,515 people behind on rent
– 12,609 “very likely” to face eviction in next two months

Atlanta
– 183,997 people behind on rent
– 32,233 “very likely” to face eviction in next two months

Phoenix
– 65,433 people behind on rent
– 22,326 “very likely” to face eviction in next two months

Boston
– 72,955 people behind on rent
– 1,107 “very likely” to face eviction in next two months

San Francisco
– 94,567 people behind on rent
– 4,040 “very likely” to face eviction in next two months

Detroit
– 135,636 people behind on rent
– 22,032 “very likely” to face eviction in next two months

Seattle
– 60,000 people behind on rent
– 2,033 “very likely” to face eviction in next two months

To put the eviction crisis in perspective, nearly as many homeowners—some 7.2 million, according to the Census Bureau are behind on their mortgage payments. However, due to forbearance and other programs offered by lenders, only 396,000 of those homeowners say it’s “very likely” they’ll face foreclosure in the next two months.

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About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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