An estimated 1.95 million U.S. renter households owed more than $15.3 billion in back rent when the federal eviction moratorium expired on July 31, according to a new report. The number of renter households in debt is expected to reach 2 million by December, the Federal Reserve Bank of Philadelphia said in the July 30 report (pdf). Those households are expected to collectively owe $18.6 billion by that point, with an average debt of $9,300. The state with the largest estimated number of households in arrears on rent in August is California (313,300), followed by Texas (174,900), Florida (171,900), and New York (155,600). California is also estimated to owe the largest amount of rent debt ($3.54 billion), which is greater than the combined rent debt of the next two states, Florida ($1.53 billion) and New York ($1.43 billion). The report came as the nationwide eviction ban, which was first enacted …
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