The housing crisis continues to spiral and inflation reached a 40-year high this summer. Experts say short-term rentals aren’t helping.
With U.S. cities facing clear housing shortages, homes being used as short-term rentals on Airbnb and other platforms are drawing renewed scrutiny from residents and activists pushing cities to consider new regulations.and other short-term rentals could be impacting neighborhood housing, even if it is widely acknowledged that it is not the only factor in the crunch.
Since 2019, the number of active short-term rentals in the city has increased 56.6%, according to AirDNA, a company that collects and sells short-term rental data that includes listings from Airbnb and Vrbo.While large cities like New York and LA saw a fall in STRs during the pandemic, cities like Dallas, Miami and Philadelphia saw an increase.
“Now I have data from 100 different cities and countries and I'm working on expanding it to thousands more,” he said. “The mission is to add data to help communities understand the impact of short-term rentals and Airbnb.”Dallas and Austin became alluring places to live during the COVID-19 pandemic“Right now there’s a big fight with the residents,” said Cox about the state of STRs in Dallas.
"The truth is most hosts on Airbnb share just one home and the typical host in Dallas earned $7,800 in the past year to help cover the rising cost of living," said an Airbnb spokesperson.
A researcher with AirDNA, the other tracking company, said that there are fewer short-term rentals now than pre-pandemic nationwide, but many smaller major cities like Philadelphia, Miami and San Diego have seen increases in short-term rentals since before the pandemic. Each point equals 1%. Some counties have housing vaccancies as low as 4% according to data from the Census Bureau.
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