The latest Independent Landlord Rental Performance Report from Chandan Economics, covering April 2025, shows on-time rental payments nationally hitting 86.3% — an improvement of 45 basis points from the prior month, and notably the first year-over-year increase in on-time payments since July 2023. While this is encouraging news overall for small to medium landlords, the story for Missouri and Illinois isn’t quite as rosy when you dig into the state-level data.
Missouri posted an on-time payment rate of just 83%, putting us at 42nd out of the 47 states and districts that met reporting standards. That’s a full 330 basis points (3.3%) below the national average. Making matters worse, Missouri saw a significant 267 basis point decline compared to the previous month. Illinois didn’t fare much better, with an 84% on-time rate, ranking 38th nationally. Illinois’ on-time payment rate fell 248 basis points from last month and is still about 230 basis points under the national average.
When you put it side by side, both Missouri and Illinois are underperforming the nation on rent collections. It’s not catastrophic, but it’s definitely a caution flag for rental property investors here. With national collections firming up and western states like Utah and Idaho pulling over 92% on-time, it’s clear that our region isn’t bouncing back at the same clip. For small and mid-size landlords, staying ahead of tenant risk and local economic shifts is going to be just as important this year as watching interest rates and property values.
The interactive chart below shows national on-time payment rates broken down by property type—single-family rentals, small 2–4 unit properties, and larger multifamily buildings. In April, 2–4 unit rentals led the pack nationally with an 87.0% on-time payment rate, just ahead of single-family homes at 86.5% and larger multifamily at 86.2%. While states like Utah and Idaho are posting eye-popping numbers over 92%, it’s a different story here closer to home. Missouri and Illinois both fell short of the national averages across the board, reminding us that local market conditions can look very different even when national trends seem positive. For independent landlords here, staying dialed into those local shifts will matter just as much as watching national stats.
