Rental vacancy rates: A policy primer

Belsky, Eric S.

doi:10.1080/10511482.1992.9521110

Cited by 38 publications

(31 citation statements)

References 10 publications

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“…This is an established housing market indicator that measures vacant rental stock available for rent as a proportion of the total rental stock. The equilibrium vacancy rate is defi ned as the vacancy rate at which there is no upward or downward pressure on rents (Belsky, 1992 ). If the vacancy rate becomes lower than the equilibrium rate, renters will compete with each other to secure rental property, pushing up rents.…”

Section: What Are Airbnb's Impacts?mentioning

confidence: 99%

“…If the vacancy rates are higher than the equilibrium rate, there will be downward pressure on rents as landlords reduce rents to ensure their properties do not remain vacant. Belsky ( 1992 ) demonstrates how this equilibrium rate varies between cities, largely because of the nature of landlords. In the Sydney housing market, for example, this rate is estimated to be about 3% (Real Estate Institute of NSW [REINSW], 2016 ).…”

Section: What Are Airbnb's Impacts?mentioning

confidence: 99%

See 1 more Smart Citation

When Tourists Move In: How Should Urban Planners Respond to Airbnb?

Gurran¹,

Phibbs²

2017

Journal of the American Planning Association

422

294

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Section: What Are Airbnb's Impacts?mentioning

confidence: 99%

Section: What Are Airbnb's Impacts?mentioning

confidence: 99%

When Tourists Move In: How Should Urban Planners Respond to Airbnb?

Gurran¹,

Phibbs²

2017

Journal of the American Planning Association

422

294

View full text Add to dashboard Cite

“…Belsky (1992) and Apgar and Herbert (1994) for some cogent criticism of this practice. 39 The six formula factors are (1) households, (2) poor households, (3) poor households in old housing, (4) crowded households, (5) households with high rent burdens, and (6) two measures of the vacancy shortage.…”

Section: Identificationmentioning

confidence: 99%

Rent vouchers and the price of low-income housing

Susin

2002

Journal of Public Economics

148

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Since the early 1980s, low-income housing subsidies have increasingly shifted towards vouchers which allow recipients to rent in the private market. By 1993, vouchers subsidized as many households as lived in traditional housing projects, although most low-income households did not receive any subsidies. This study investigates whether this policy has raised rents for unsubsidized poor households, as many analysts predicted when the program was conceived. The main finding is that low-income households in metropolitan areas with more vouchers have experienced faster rent increases than those where vouchers are less abundant. In the 90 biggest metropolitan areas, vouchers have raised rents by 16 percent on average, a large effect consistent with a low supply elasticity in the low quality rental housing market. Considered as a transfer program, this result implies that vouchers have caused a $8.2 billion increase in the total rent paid by low-income non-recipients, while only providing a subsidy of $5.8 billion to recipients, resulting in a net loss of $2.4 billion to low-income households.

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“…Housing vacancies are due in part to residential mobility and relocation dynamics, and the large degree of heterogeneity and imperfect information in housing market systems (Gabriel and Nothaft, 1988;Nieboer and Voogd, 1990;Belsky, 1992). Moreover, vacancy rates fluctuate as a result of housing supply-demand interactions and market adjustment processes (White, 1971;Forrest and Murie, 1994;Wood et al, 2006).…”

Section: Housing Occupancy (Or Vacancy) Ratementioning

confidence: 99%

Parsing density changes: an outcome-oriented growth management policy analysis

Kim

Deal

Chakraborty

2012

J Hous and the Built Environ

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Although a considerable number of studies have examined the effectiveness of growth management programs in curbing sprawl and increasing aggregate densities, less attention has been paid to understanding how these noted density improvements are realized. In this paper, we assess the mechanisms that underlie changes in aggregate population densities and empirically examine detailed density changes under various growth management regimes in the U.S. Our county-level statistical analysis using recent U.S. Census products and land use change data sets, finds that: a) states with proactive growth management programs do tend to experience relative density gains, but not in jurisdictions with restrictive local land use regulations and b) the marginal density gains appear to be attributable in large part to smaller housing vacancy rates and housing price escalations. Not surprisingly, our findings suggest that local structures are critical for achieving desired outcomes. Given the critical role of local action, the realization of compact development requires a tightly woven and integrated policy that not only makes logical sense at state levels, but can be followed and implemented at the local level.

show abstract

Rental vacancy rates: A policy primer

Cited by 38 publications

References 10 publications

When Tourists Move In: How Should Urban Planners Respond to Airbnb?

When Tourists Move In: How Should Urban Planners Respond to Airbnb?

Rent vouchers and the price of low-income housing

Parsing density changes: an outcome-oriented growth management policy analysis

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