The COVID-19 Pandemic and the Rental Market: Evidence From Craigslist

Kuk, John; Schachter, Ariela; Faber, Jacob; Besbris, Max

doi:10.1177/00027642211003149

Cited by 30 publications

(14 citation statements)

References 77 publications

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“…Although the aforementioned studies linked COVID-19 and housing prices, there is still uncertainty surrounding the impact of COVID-19 on the housing market [31]. Very few studies in literature have investigated the spatial heterogeneity of the impact of the COVID-19 pandemic on housing markets [32][33][34]. However, housing prices may be affected heterogeneously across different counties in the U.S., due to the uneven distributions of some socio-economic factors, such as average household size, percentage of households with Internet at home, education, and poverty variables.…”

Section: Literature Reviewmentioning

confidence: 99%

Did the COVID-19 Pandemic Crisis Affect Housing Prices Evenly in the U.S.?

Zhang

2021

Sustainability

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While it is well-known that housing prices generally increased in the United States (U.S.) during the COVID-19 pandemic crisis, to the best of our knowledge, there has been no research conducted to understand the spatial patterns and heterogeneity of housing price changes in the U.S. real estate market during the crisis. There has been less attention on the consequences of this pandemic, in terms of the spatial distribution of housing price changes in the U.S. The objective of this study was to explore the spatial patterns and heterogeneous distribution of housing price change rates across different areas of the U.S. real estate market during the COVID-19 pandemic. We calculated the global Moran’s I, Anselin’s local Moran’s I, and Getis-Ord’s Gi∗ statistics of the housing price change rates in 2856 U.S. counties. The following two major findings were obtained: (1) The influence of the COVID-19 pandemic crisis on housing price change varied across space in the U.S. The patterns not only differed from metropolitan areas to rural areas, but also varied from one metropolitan area to another. (2) It seems that COVID-19 made Americans more cautious about buying property in densely populated urban downtowns that had higher levels of virus infection; therefore, it was found that during the COVID-19 pandemic year of 2020–2021, the housing price hot spots were typically located in more affordable suburbs, smaller cities, and areas away from high-cost, high-density urban downtowns. This study may be helpful for understanding the relationship between the COVID-19 pandemic and the real estate market, as well as human behaviors in response to the pandemic.

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Section: Literature Reviewmentioning

confidence: 99%

Did the COVID-19 Pandemic Crisis Affect Housing Prices Evenly in the U.S.?

Zhang

2021

Sustainability

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“…Not all rental hous ing in the United States is adver tised on Craigslist; indeed, Boeing (2020) found that adver tise ments for rental hous ing on Craigslist in Unequal Availability of Rental Housing Information 2014 were over rep re sented in neigh bor hoods with higher shares of White res i dents, dem on strat ing how offline inequalities are reproduced in the sup ply of infor ma tion online. However, our goal is to under stand what kind of infor ma tion is shared on Craigslist, the most com pre hen sive and timely source of hous ing mar ket infor ma tion in the United States (Boeing and Waddell 2017;Kuk et al 2021).…”

Section: Methodsmentioning

confidence: 99%

The Unequal Availability of Rental Housing Information Across Neighborhoods

2021

Self Cite

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As more urban residents find their housing through online search tools, recent research has theorized the potential for online information to transform and equalize the housing search process. Yet, very little is known about what rental housing information is available online. Using a corpus of millions of geocoded Craigslist advertisements for rental housing across the 50 largest metropolitan statistical areas in the United States merged with census tract–level data from the American Community Survey, we identify and describe the types of information commonly included in listings across different types of neighborhoods. We find that in the online housing market, renters are exposed to fundamentally different types of information depending on the ethnoracial and socioeconomic makeup of the neighborhoods where they are searching.

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“…Similar conclusions were reached by Trojanek et al (2021) , who estimated that housing rents in Warsaw fell by 7.7% between March and December 2020. Finally, the analysis conducted by Kuk et al (2021) showed that in the period immediately after the coronavirus outbreak—namely, from mid-March to early June 2020—apartment rental prices in the U.S. dropped by several percent.…”

Section: Literature Reviewmentioning

confidence: 99%

The private rental housing market before and during the COVID-19 pandemic: A submarket analysis in Cracow, Poland

Tomal

Helbich

2022

Environment and Planning B: Urban Analytics and City Science

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How the COVID-19 pandemic has altered the segmentation of residential rental markets is largely unknown. We therefore assessed rental housing submarkets before and during the pandemic in Cracow, Poland. We used geographically and temporally weighted regression to investigate the marginal prices of housing attributes over space–time. The marginal prices were further reduced to a few principal components per time period and spatially clustered to identify housing submarkets. Finally, we applied the adjusted Rand index to evaluate the spatiotemporal stability of the housing submarkets. The results revealed that the pandemic outbreak significantly lowered rents and modified the relevance of some housing characteristics for rental prices. Proximity to the university was no longer among the residential amenities during the pandemic. Similarly, the virus outbreak diminished the effect of a housing unit’s proximity to the city center. The market partitioning showed that the number of Cracow’s residential rental submarkets increased significantly as a result of the COVID-19 pandemic, as it enhanced the spatial variation in the marginal prices of covariates. Our findings suggest that the emergence of the coronavirus reshaped the residential rental market in three ways: Rents were decreased, the underlying rental price-determining factors changed, and the spatiotemporal submarket structure was altered.

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The COVID-19 Pandemic and the Rental Market: Evidence From Craigslist

Cited by 30 publications

References 77 publications

Did the COVID-19 Pandemic Crisis Affect Housing Prices Evenly in the U.S.?

Did the COVID-19 Pandemic Crisis Affect Housing Prices Evenly in the U.S.?

The Unequal Availability of Rental Housing Information Across Neighborhoods

The private rental housing market before and during the COVID-19 pandemic: A submarket analysis in Cracow, Poland

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