A record amount of federal rent assistance was put in the pockets of struggling tenants by state and local governments in November, as the Biden administration initiates changes to provide more funds to areas of high demand.
The Treasury Department said on Friday that $ 2.9 billion had been distributed to 665,000 tenants and landlords in November through the Emergency Rent Assistance Program, one of the few remaining federal benefits in the event of a pandemic helping people stay at home.
In announcing the figures, the agency said eviction requests “remain well below pre-pandemic levels,” an assessment supported by data from the Princeton University eviction lab which shows that eviction requests in the six states and 31 cities it tracks have remained low since the federal moratorium on evictions. finished in August.
The $ 46.5 billion rent assistance program was created by Congress to help low and moderate income households who are behind on rent and on utilities amid the pandemic. In the first few months, it took a while for funds to reach those who needed them, but data from Friday suggests the money is being distributed at a much faster rate.
The Treasury Department estimated that around $ 25 billion to $ 30 billion in funds had been spent or allocated by the end of December.
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