Exploring the Survival Mechanisms of Short-Term Rentals in Virginia: A Comparative Analysis of Rural versus Non-Rural Markets

dc.contributor.authorChoi, Seungbeeen
dc.contributor.authorWon, Jonghoen
dc.coverage.countryUnited Statesen
dc.coverage.stateVirginiaen
dc.date.accessioned2023-08-25T12:55:07Zen
dc.date.available2023-08-25T12:55:07Zen
dc.date.issued2023-08-21en
dc.date.updated2023-08-25T12:37:23Zen
dc.description.abstractThis study provides a comprehensive analysis of the survival mechanisms of STRs in Virginia, particularly focusing on rural versus non-rural markets. Utilizing data from AirDNA, we observe 16,852 active listings from 2018 to 2022. The study identifies the influence of various factors on STR longevity, including unit type, location, and the number of bedrooms. It is a unique attempt to bridge the gap in understanding the dynamics of short-term rentals (STRs) in rural and urban contexts. Our findings reveal differences in the survival patterns of STRs in rural versus non-rural markets. In particular, rural STRs exhibit higher survival probabilities compared to their non-rural counterparts. Furthermore, Full-Time STRs, which are primarily dedicated to short-term rentals, show significantly higher survival probabilities than Occasional STRs, regardless of their location. These findings serve as critical inputs for stakeholders involved in policymaking, regulation, and industry strategies. By highlighting the distinctive dynamics of rural and urban STR markets, we underscore the need for context-specific regulations that can balance the economic benefits of STRs with the preservation of local housing options.en
dc.description.versionPublished versionen
dc.format.mimetypeapplication/pdfen
dc.identifier.citationChoi, S.; Won, J. Exploring the Survival Mechanisms of Short-Term Rentals in Virginia: A Comparative Analysis of Rural versus Non-Rural Markets. Sustainability 2023, 15, 12651.en
dc.identifier.doihttps://doi.org/10.3390/su151612651en
dc.identifier.urihttp://hdl.handle.net/10919/116112en
dc.language.isoenen
dc.publisherMDPIen
dc.rightsCreative Commons Attribution 4.0 Internationalen
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/en
dc.subjectshort-term rentalsen
dc.subjectrural areasen
dc.subjectsurvival analysisen
dc.subjectAirbnben
dc.subjecthousing affordabilityen
dc.subjecttourismen
dc.titleExploring the Survival Mechanisms of Short-Term Rentals in Virginia: A Comparative Analysis of Rural versus Non-Rural Marketsen
dc.title.serialSustainabilityen
dc.typeArticle - Refereeden
dc.type.dcmitypeTexten

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