A new study suggests that short-term rentals are contributing to the region’s housing shortage and helping drive up costs for renter households.
New research from Florida Atlantic University indicates that the growth of the short-term vacation rental industry could be impacting housing affordability in South Florida, a claim often made by critics of the STR model. As Amber Bonefont reports for the South Florida Sun-Sentinel, taking apartments off the market to use them as vacation rentals can drive up housing costs for long-term renters.
According to study author Ken H. Johnson, “It’s the shortage of available units that drives rental rates higher. While developers and local governments clearly need to build more units, that’s not the only solution to this problem.”
Similar impacts have been observed elsewhere. “A study published in the Harvard Law and Policy Review looked at the city of Los Angeles and concluded that converting a unit previously used by a resident to an Airbnb removed the unit from the rental market, therefore leading to a ‘real, but likely mild, increase in rents.’”
Vacation rental companies like Airbnb argue that the sharp rise in housing costs is unrelated to their industry, as the share of STRs in U.S. housing stock has stayed roughly the same in the last decade. However, getting an accurate count of vacation rentals is notoriously difficult, making the scale of the problem hard to quantify.
FULL STORY: Vacation rentals are adding to South Florida’s housing crunch, study suggests
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
Planning for Accessibility: Proximity is More Important than Mobility
Accessibility-based planning minimizes the distance that people must travel to reach desired services and activities. Measured this way, increased density can provide more total benefits than increased speeds.
World's Largest Wildlife Overpass In the Works in Los Angeles County
Caltrans will soon close half of the 101 Freeway in order to continue construction of the Wallis Annenberg Wildlife Crossing near Agoura Hills in Los Angeles County.
Alaska Village Becomes Test Case for Climate Change Relocation
The Yup’ik village of Newtok is the first Alaska community to begin a full-scale relocation necessitated by the impacts of climate change. Another 31 Alaska communities remain vulnerable.
Amtrak Takes Lead on Texas Central Rail
The high-speed rail project isn’t a done deal, but if it moves forward, trains could begin operating in 2030.
Maine Approves Rent Relief Program
Legislators hope the assistance program will help struggling low-income households avoid eviction.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.