Recent research has found a reallocation of long-term housing units into short-term rentals, leading to an upward pressure on prices. A 2020 study by a team from the National Bureau of Economic Research; California State University, Northridge; and the University of Southern California pegged the number at an annual increase of $9 in monthly rent and $1,800 in home prices in the median neighborhood. That is often driven by large-scale operators from outside of the communities; a 2017 analysis of short-term rentals in New Orleans found that nearly half of permitted units were registered to fewer than a fifth of operators.
California Political Review
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Northridge