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Rent affordability after hurricanes: Longitudinal evidence from US coastal states.

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Climate change intensifies hurricanes, increasing rents and reducing affordable housing availability for renters. Disaster recovery must prioritize safe, stable, and affordable rental housing solutions.

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Area of Science:

  • Environmental Science
  • Economics
  • Sociology

Background:

  • Climate change is increasing the frequency and intensity of hurricanes.
  • Renters face heightened vulnerability to housing disruptions from natural disasters due to socioeconomic factors and housing precarity.

Purpose of the Study:

  • To investigate the relationship between hurricane frequency/intensity and changes in median rent and housing affordability.
  • To analyze the impact of hurricanes on rental housing availability and affordability over time.

Main Methods:

  • Constructed a panel dataset of housing, socioeconomic, and hurricane data for US East and Gulf Coast counties (2009-2018).
  • Employed a two-stage least square random-effects regression model to analyze the data.

Main Results:

  • More intense prior-year hurricanes correlate with increased median rents, driven by decreased housing availability.
  • Hurricane occurrences reduce affordable rental housing, particularly in areas with high renter and minority populations.

Conclusions:

  • Renters face significant challenges post-hurricane, impacting housing stability and affordability.
  • Disaster recovery strategies should prioritize immediate and medium-term provision of safe, affordable rental housing.