The Number of People in Louisiana Behind On Their Rent is Staggering
A new report by money management website, Stessa, identifies the states with the highest number of renters who fell behind on their payments in the second half of 2021.
Why So Many Renters are Struggling
Renters, the study confirmed, are more likely to work in lower-wage occupations that have been the most disrupted by the pandemic (retail, hospitality, restaurants, etc.) and less likely to have savings or other assets to get through hard times. The Stessa study ranked states by the weekly average percentage of renters who reported being behind on their payments between July and December of 2021.
And In Louisiana It's the Worst
Closer to home, the analysis found that an average of 22.1% of Louisiana renters fell behind on their payments. During the last six months of 2021, Louisiana had the highest percentage of renters behind on their rent payments in the USA at any given time.
Things are Improving Nationally, But What About Here?
Fortunately, the picture for renters has improved over the course of the pandemic, but according to US Census Bureau data, many renters are still struggling.
After spiking at over 21% in July of 2020, the number began to drop as lockdowns eased. They rose again slightly in late 2020 and the onset of the Delta variant, but declined again in early '21 in cases early in the year. As the economy improved, the number behind on rent was below 16% for much of the year.
Here's Where the Problem is Worst and the Louisiana Stats
As the state with the most folks in trouble, Louisiana was joined by top five states including Georgia, New York, South Carolina and Mississippi.
Here are Stessa's numbers for our home state:
- Percentage of renters behind on their payments: 22.1%
- Percentage of renters with kids behind on their payments: 31.3%
- Total renters behind on their payments: 138,185
- Median household income: $51,730
- Poverty rate: 17.8%
To see the complete study from money management site, Stessa, including the 10 states with the most behind-in-payment renters and other information, JUST CLICK HERE!