If Airbnb is in your neighborhood, it's probably good news for home prices and rents, according to a new study from INFORMS.
The study, which assessed the impact of home-sharing on residential house prices and rents, found that a 1% increase in Airbnb listings leads to a 0.018% increase in rents and a 0.026% increase in house prices at the median owner-occupancy rate.
"Ultimately, we found that the number of Airbnb listings in some zip codes were positively associated with both property price increases and rental rates," said the authors of the study. "Concerns about the effect of Airbnb on the housing market do not appear unfounded. But more research is needed into the long-run effects on the housing supply."
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
