Renters in communities outside of New York City could owe up to $40 million in rent, but have been unable to pay due to the coronavirus pandemic, according to research announced Friday conducted at the NYU Furman Center.
And these tenant households will need $20 million per month in assistance to make these households whole.
Researchers, using data by the federal Bureau of Labor Statistics, found 40,000 households in the state's largest cities outside of New York City, Albany, Buffalo, Rochester, Syracuse and Yonkers, have lost income during the coronavirus pandemic and have fallen behind on rent.
“While many households were rent-burdened before COVID-19, the pandemic has exacerbated the financial straits of so many renters,” said Matthew Murphy, executive director of the NYU Furman Center. “Research to date has focused on national numbers or major metropolitan areas, but this analysis shows that small and mid-sized cities also face major challenges in helping renters.”
An eviction moratorium has been extended by Gov. Andrew Cuomo to the beginning of 2021. But some advocates have called for a complete cancellation of rent debt owed during the pandemic.
New York's jobless rate recovered in September, falling from 12.5 to 9.7 percent last month, according to the state Department of Labor.