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Turn short-term rentals into long-term affordable housing on Hilton Head. ... In the spring, short-term rental rates average up to $278 a day on Hilton Head Island, according to AirDNA. Though ...
The term "affordable housing" refers to housing that is considered economically accessible for individuals and families whose household income falls at or below the Area Median Income (AMI), as evaluated by either national or local government authorities through an officially recognized housing affordability index. [3]
The definition of affordable housing may change depending on the country and context. For example, in Australia, the National Affordable Housing Summit Group developed their definition of affordable housing as housing that is "...reasonably adequate in standard and location for lower or middle income households and does not cost so much that a household is unlikely to be able to meet other ...
The affordable housing gap especially impacts the lower-income households in America. A 2017 HUD survey found that 89% of extremely low income renter households were moderately or severely cost burdened. 83% of very low income households, 54% of low income households, 20% of moderate income households, and 6% of high income households met the ...
Nov. 5—The Santa Fe Association of Realtors has been a strong supporter of using short-term rental taxes for affordable housing. Research suggests that in some communities, short-term rentals ...
While the number of short-term rentals has plummeted, the effect on the housing market is unclear. Airbnb says the ban is too broad and hasn't made housing any more affordable.
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