The survey found that 75.8% of all STRs are either the owner’s primary residence or a second home used by the owner, his family, and friends at times.
STR opponents claim that banning STRs would result in more long-term housing. When asked what owners would do if STRs were completely banned, only 5.9% would offer their home as a long-term rental. The most stated reason that they would not rent long-term was the owners want continued use of the home for personal, family, and friends.
Then the question was asked, if the owner had no other option but to rent the home long-term, what would be the monthly rent? Only 9.1% would charge less than $2,000 per month. Combining these responses indicates only 9.1% of the 5.9% of STRs that would be offered as long term rentals might be considered affordable. This is just 0.54% of all STRs!
STRs will never become affordable housing. To appeal to visitors; STRs must be attractive residences in desirable neighborhoods. These properties are not "affordable." Click here for full survey report.
A separate, independent analysis was done by Mark Brodeur, Pacific Grove’s community and economic development director who reviewed the city's housing stock and came to the same conclusion. Mr. Brodeur states in his analysis, "I can't see how such a small percentage (3.2% are STRs) of all units in the City degrades the long term rental market. I think there are much larger forces in play that affect the housing stock and availability of long term rentals. Certainly "second homes" play a much larger impact than STR's." See Mr. Brodeur's memorandum.
Let’s analyze the unincorporated areas of Monterey County. The 2000 U.S. census determined that there were 37,579 dwelling units in the County. In 2018, a service company retained by the County Tax Collector determined there were 1,044 short-term rentals in the County. STRs represent just 2.8% of all County housing stock. So how can such a small percentage of all units in the County degrade the long term rental market? Furthermore, how many of the 2.8% would actually be “affordable?” As discussed above, only 9.1% would charge less than $2,000 per month. Combining these percentages shows that short-term rentals might add just 0.25% more affordable housing if converted to long-term rentals. The problem is local property values, not short-term rentals. Short-term rentals impacting affordable long term housing is a myth!
Conclusion: STRs have NO impact on affordable housing.