Can't afford to live in Boston? Home rental apps may be driving up prices

The number of short-term rental properties has been growing substantially in Boston over the past few years.

A new study from UMass Boston found people are starting to buy properties solely to rent out for the short-term, which in turn, is hurting the long-term rental market.

Cassie Duran lives in a three-bedroom apartment with her four children in Allston. She pays $1,600 a month and can barely afford to make ends meet.

"I worked seven days a week. I had to quit my second job. And I struggle, it's a struggle."

The UMass Boston study found rents in Boston are higher than ever before - and keep climbing.

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Over two years, they found that more properties are being listed solely as short-term rentals, and the number of long-term rentals is dropping.

In 2016, Airbnb said they had about 3,000 home rentals listed on their website. The study found short-term rentals are growing 24 percent each year in the city. If it keeps growing at that rate, by 2019, Boston's average rate for long-term rentals could increase by as much as 5 percent.

"We're going to see a continued housing crunch. Prices are going to skyrocket, and availability is going to continue to decrease," said Steve Fox, who is on the board of the Alliance of Downtown Civic Organizations, or ADCO.

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Fox helped compile rental data from several studies, including the one from UMass, and renters themselves. He and other board members presented that data to city councilors back in November.

"It's not just alarming, it's stunning. That it continues to grow year by year by year. We're looking at a 5 percent growth this year. Next year that’s going to go up, and the year after its going to go up, if we don’t do something about it," he said.

State Representative Aaron Michlewitz has filed an act with the state legislature to regulate and tax short-term rentals, but nothing has been signed into law.

Airbnb says they agree with regulating short-term rentals, but don't believe they are affecting the long-term rental market.

They said in a statement to Boston 25 News:

"Boston hosts make modest but significant income from sharing their homes. However, they don't home-share frequently enough to financially outcompete a long term tenant."

But for people like Cassie, in a city where rent is already astronomical, anything to drive it up - hurts.

"It just keeps getting worse. And then I fall behind. I fall behind in bills. It really sucks," she said.

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Cox Media Group