In Washington, D.C., Airbnb has led to an increase in home prices, and the impact is more significant in neighborhoods with a higher density of short-term rental units.
A new study looks at the effects of short-term rentals on housing availability and costs in Washington, D.C. "The study, by University of Maryland PhD candidate Frank Zou, concludes that Airbnb is responsible for an uptick of up to 2.2% in single-family home prices in DC," reports Nena Perry-Brown.
The findings also show that the density of Airbnb listings in an area correlates with the price of single-family homes. "Density and impact were most dramatic in the 20005 zip code, where over 100 active Airbnb listings were counted within 1,000 feet of examined single-family houses, and home prices went up 12%," writes Perry-Brown.
She notes that the data from 2016 and 2017 might not reflect the current situation in Washington, D.C., particularly with local regulation of short-term rental units on the horizon.
FULL STORY: New Study Looks at Impact of Airbnb on DC Home Prices
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