Regulating Short-Term Rental Housing: Evidence From New Orleans

56 Pages Posted: 17 Feb 2019 Last revised: 28 May 2020

See all articles by Maxence Valentin

Maxence Valentin

Pennsylvania State University - Department of Insurance & Real Estate

Date Written: May 27, 2020

Abstract

This study examines the effects of regulations targeting Airbnb and other short-termrental (STR) suppliers in the urban center of New Orleans. I show that although the new ordinances reduced participation in the STR market as intended, STR usage actually increased in the neighborhoods adjacent to areas the most affected by the regulations.I subsequently show that the new regulations depressed property values in the neighborhoods facing the tightest regulations by approximately 30%, implying that homeowners factor into their housing purchasing decisions the option to participate in the STR market.

Keywords: Property Rights, Policy Analysis, Short-Term Rental Market, Housing Values

JEL Classification: K11, R31, R52, Z30

Suggested Citation

Valentin, Maxence, Regulating Short-Term Rental Housing: Evidence From New Orleans (May 27, 2020). Available at SSRN: https://ssrn.com/abstract=3329964 or http://dx.doi.org/10.2139/ssrn.3329964

Maxence Valentin (Contact Author)

Pennsylvania State University - Department of Insurance & Real Estate ( email )

University Park, PA 16802-3306
United States

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
141
Abstract Views
843
rank
254,214
PlumX Metrics