The Supreme Court struck down the Centers for Disease Control and Prevention (CDC) eviction moratorium one year ago, putting millions of renters at risk of losing their homes.
Since then, eviction filings have returned to pre-pandemic levels and, in some places, even exceeded them. Although the job market has mostly rebounded from the early days of the pandemic, inflation and skyrocketing rent prices have pushed many renters deeper into a financial hole.
The labor market is recovering, but around 15% of renters are behind on rent—a persistently high number, says Sophia Wedeen, a research analyst at the Harvard Joint Center for Housing Studies.
In the latest Realtor.com report, the median price for rent across the country jumped by 12.3% in July from July 2021 and was up by 23.2% from July 2020. It stands at an eye-watering $1,879 per month.
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