![]() Short-term rentals contributed to an annual increase of $9 in monthly rent and Based on the median growth in Airbnb listings nationally, the properties listed on Airbnb between 20, andĪnalyzed the effects of these listings using data on rents and home values from “The increased ability to home-share has led to increases in both rental rates and house prices,” the researchers wrote in the study.ĭata on all U.S. Other studies, have attempted to put a more specific figure on rent and house-price increases that some analysts say are related to short-term rental sites.Ī 2017 study published in the latest edition of the journal Marketing Science found that the number of Airbnb listings in a zip code was associated with increases in property prices and rental rates. ![]() Sophie Calder-Wang, assistant professor of the real-estate department at The Wharton School in the University of Pennsylvania, published a study last August that found the “increased rent burden falls most heavily on high-income, educated, and white renters because they prefer housing and location amenities that are most desirable to tourists.” “Evidence suggests that the presence of Airbnb raises local housing costs. The largest and best-documented potential cost of Airbnb expansion is the reduced supply of housing as properties shift from serving local residents to serving Airbnb travelers, which hurts local residents by raising housing costs,” it said. ![]() Still, the Economic Policy Institute, a progressive think tank, echoed the sentiments of the Cologne researchers last year. “Countless families depend on Airbnb to pay their rent and stay in their homes, which has become even more important amidst the current crisis,” he said. ![]() However, a spokesman for Airbnb took issue with such findings, and said the COVID-19 pandemic has created an untenable position for many households struggling to make ends meet, and renting out a room is one way to deal with that. “Professional short-term rentals are available to tourists throughout the year, and thus compete directly with long-term tenants, for whom the rooms are then no longer available.” “While a large proportion of hosts can be considered home sharers, we find an increasing proportion of providers who have developed a professional business model from short-term rentals,” Mindl said in a statement. ![]()
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