Study finds that if conditions do not change, 29-43% of renter households could be at risk of eviction by the end of the year
Contact: Ben Berliner
The Aspen Institute
Washington, DC, August 7, 2020–– As part of its ongoing work on housing security and tracking how the COVID-19 pandemic is impacting US households’ financial security, the Aspen Institute Financial Security Program, along with colleagues at eight additional institutes and organizations, released new research finding that 30-40 million people in America are at risk of losing their homes in the next several months without swift and significant federal intervention. Twenty-nine percent to 43% of renter households could be at risk of eviction by the end of the year.
Aggregating research from the U.S. Census Bureau Household Pulse Survey, projected eviction filings, unemployment data, and housing insecurity statistics, this cross-institutional team of academics and policy experts determined that without at least $100 billion in emergency rental assistance, extension of the expired federal Unemployment Insurance bonus, and a nationwide moratorium on evictions, millions of renters who are currently experiencing financial hardship due to the coronavirus will face displacement and homelessness on a historic scale.
These estimates were developed by researchers from the Aspen Institute Financial Security Program, City Life, the COVID-19 Eviction Defense Project, The Eviction Lab at Princeton University, the Innovation for Justice Program at the University of Arizona College of Law, Massachusetts Institute of Technology, the National Low Income Housing Coalition, Stout, and Wake Forest University School of Law.
EDITOR’S NOTE: To speak to the authors of this research, please contact Ben Berliner: [email protected].
The Aspen Institute Financial Security Program’s (Aspen FSP) mission is to illuminate and solve the most critical financial challenges facing American households and to make financial security for all a top national priority. We aim for nothing less than a more inclusive economy with reduced wealth inequality and shared prosperity. Learn more at www.aspeninstitute.org/programs/financial-security-program/.
The Aspen Institute is a global nonprofit organization committed to realizing a free, just, and equitable society. Founded in 1949, the Institute drives change through dialogue, leadership, and action to help solve the most important challenges facing the United States and the world. Headquartered in Washington, DC, the Institute has a campus in Aspen, Colorado, and an international network of partners. For more information, visit www.aspeninstitute.org.