More than $25 Billion spentacross both ERA 1 and ERA 2.
The December 2020 Consolidated Appropriations Act of 2021 (ERA 1) included $25 billion in Emergency Rental (ERAP) assistance (ERAP) and the March 2021 American Rescue Plan (ERA 2) included an additional $21.6 billion in ERAP assistance. Since the launch ERA 1, the National Apartment Associaiton (NAA) and National Multifamily Housing Council (NMHC ) have been closely monitoring the disbursement of each program and advocating on behalf of the industry for the continued efficient and effective distribution of funds.
On Feb. 24, the U.S. Department of Treasury released information showing ERA grantees made 3.8 million payments to eligible household and spent or obligated more than $25 billion, across ERA 1 and ERA 2. Also, according to reporting data, over 80% of ERA assistance was delivered to households earning 50% of area median income.
In addition, Treasury ERA monthly data show $16.3 billion was spent on rent, utilities and arrears for ERA 1 from Jan. 1, 2021 through Dec. 31, 2021—with $4.1 billion spent on ERA 2, from April 1, 2021 through Dec. 31, 2021.
For nearly two years, the real estate industry coalition has educated Congress and the Administration on how best to ensure housing stability for both residents and owners. Through these advocacy efforts, the coalition has successfully secured changes to the program that streamlined the certification process and created a centralized portal with information on administering entities.
As state and localities continue to disburse program funds, NAA and NMHC continue these important advocacy efforts and will keep members apprised as our work progresses.
To dive deeper into the recently released data, click through to explore Treasury’s state and local disbursement data: Emergency Rental Assistance Quarterly Demographic Data: Q1-4 2021
ERA 1 State & Local Households, provides an overview of rental arrear numbers from Jan. 1 – Dec. 31, 2021
ERA 2 State & Local Households, provides an overview of rental arrear numbers from April 1 – Dec. 31, 2021
ERA 1 State & Local Expenditure, provides an overview total expenditures and obligations from Jan. 1 – Dec. 31, 2021
ERA 2 State & Local Expenditure, provides and overview of total expenditures and obligations from April 1 – Dec. 31, 2021