spb/wp5_uqo Public

1% Author: Simon-Pierre Boucher — contact@spboucher.ai2% ============================================================================3% UQO Working Paper No. 54% Airbnb, Residential Rents, and Housing Market Pressure:5% A Hedonic and Spatial Econometric Analysis6% ============================================================================7\documentclass[12pt,letterpaper]{article}89% --- Encoding & Language ---10\usepackage[T1]{fontenc}11\usepackage[english]{babel}1213% --- Page Layout ---14\usepackage[15  letterpaper,16  top=1in, bottom=1in, left=1in, right=1in,17  headheight=15pt18]{geometry}19\usepackage{setspace}20\onehalfspacing2122% --- Typography ---23\usepackage{newtxtext,newtxmath}24\usepackage{microtype}2526% --- Math ---27\usepackage{amsmath,amsfonts}28\let\Bbbk\relax29\usepackage{amssymb}3031% --- Tables ---32\usepackage{booktabs}33\usepackage{tabularx}34\usepackage{multirow}35\usepackage{threeparttable}36\usepackage{dcolumn}37\newcolumntype{d}[1]{D{.}{.}{#1}}3839% --- Figures ---40\usepackage{graphicx}41\usepackage{float}42\usepackage[43  font       = small,44  labelfont  = bf,45  labelsep   = period,46  skip       = 6pt,47  justification = centering48]{caption}49\usepackage{subcaption}5051% --- Lists ---52\usepackage{enumitem}53\setlist{nosep,leftmargin=*}5455% --- Colors & Links ---56\usepackage[dvipsnames]{xcolor}57\usepackage[bookmarks, bookmarksnumbered]{hyperref}58\hypersetup{59  colorlinks  = true,60  linkcolor   = NavyBlue,61  citecolor   = NavyBlue,62  urlcolor    = NavyBlue,63  pdfauthor   = {Simon-Pierre Boucher},64  pdftitle    = {Airbnb, Residential Rents, and Housing Market Pressure}65}6667% --- Landscape ---68\usepackage{lscape}6970% --- Bibliography ---71\usepackage[round]{natbib}72\setcitestyle{aysep={}}73\bibliographystyle{apalike}7475% --- Headers & Footers ---76\usepackage{fancyhdr}77\pagestyle{fancy}78\fancyhf{}79\fancyhead[L]{\small\itshape Airbnb, Residential Rents, and Housing Market Pressure}80\fancyhead[R]{\small\thepage}81\renewcommand{\headrulewidth}{0.4pt}82\renewcommand{\footrulewidth}{0pt}83\fancypagestyle{plain}{%84  \fancyhf{}85  \fancyfoot[C]{\small\thepage}86  \renewcommand{\headrulewidth}{0pt}87}8889% --- Section Formatting ---90\usepackage{titlesec}91\titleformat{\section}{\large\bfseries}{\thesection.}{0.5em}{}92\titleformat{\subsection}{\normalsize\bfseries}{\thesubsection.}{0.5em}{}93\titleformat{\subsubsection}{\normalsize\itshape}{\thesubsubsection.}{0.5em}{}94\titlespacing*{\section}{0pt}{18pt}{8pt}95\titlespacing*{\subsection}{0pt}{12pt}{4pt}9697% --- Appendix ---98\usepackage{apptools}99\AtAppendix{%100  \renewcommand{\thetable}{A\arabic{table}}%101  \setcounter{table}{0}%102  \renewcommand{\thefigure}{A\arabic{figure}}%103  \setcounter{figure}{0}%104  \renewcommand{\theequation}{A.\arabic{equation}}%105  \setcounter{equation}{0}%106}107108% --- Graphics Path ---109\graphicspath{{../figures/}{.}}110111% ============================================================================112% METADATA113% ============================================================================114\newcommand{\WPnumber}{5}115\newcommand{\WPtitle}{Airbnb, Residential Rents, and Housing Market Pressure: A Hedonic and Spatial Econometric Analysis}116\newcommand{\WPsubtitle}{}117\newcommand{\WPdate}{May 2026}118\newcommand{\WPversion}{1.0}119\newcommand{\WPabstract}{%120This paper investigates the relationship between Airbnb short-term rental121activity and residential rents in Quebec, Canada.  Using cross-sectional122microdata comprising approximately 5,000 Airbnb listings and 8,300123residential rental listings, we employ a hedonic pricing framework augmented124with spatial econometric techniques to quantify the conditional association125between nearby Airbnb presence and monthly rents.  For each rental listing we126construct Airbnb exposure measures within 250\,m, 500\,m, 1\,km, and 2\,km127buffers using Haversine distances.  Our baseline estimates indicate that an128additional Airbnb listing within 500\,m is associated with a statistically129significant increase in monthly rent of approximately 0.3--0.5\%, controlling130for dwelling characteristics, building type, and city fixed effects.  Quantile131regressions reveal that this association is stronger at the upper tail of the132rent distribution.  A complementary hedonic model of Airbnb nightly prices133indicates that short-term rental pricing is driven primarily by listing134characteristics, with no significant premium attached to city-level rents.135Robustness checks---including alternative buffer radii, subsample136analyses, and machine-learning benchmarks---confirm the stability of the137rent--exposure association.  We discuss the policy implications of these results for housing138affordability and short-term rental regulation, while cautioning that139cross-sectional associations should not be interpreted as causal effects.%140}141\newcommand{\WPkeywords}{Airbnb, short-term rentals, housing rents, hedonic pricing, spatial econometrics, housing affordability, Quebec}142\newcommand{\WPjel}{R21, R31, L83, C21}143144% --- Author ---145\newcommand{\WPauthor}{Simon-Pierre Boucher}146\newcommand{\WPaffiliation}{%147  D\'epartement des sciences administratives\\148  Universit\'e du Qu\'ebec en Outaouais%149}150\newcommand{\WPemail}{simon-pierre.boucher@uqo.ca}151\newcommand{\WPaddress}{%152  Gatineau -- Pavillon Alexandre-Tach\'e\\153  283, boulevard Alexandre-Tach\'e\\154  Gatineau, Qu\'ebec, Canada J9A 1L8%155}156157% ============================================================================158% DOCUMENT159% ============================================================================160\begin{document}161162% --- Title Page ---163\input{sections/titlepage}164165% --- Main Body ---166\input{sections/01_introduction}167\input{sections/02_literature}168\input{sections/03_data}169\input{sections/04_methodology}170\input{sections/05_results}171\input{sections/06_robustness}172\input{sections/07_discussion}173\input{sections/08_conclusion}174175% --- References ---176\newpage177\bibliography{references}178179% --- Appendix ---180\newpage181\appendix182\input{appendix/appendix_data}183\input{appendix/appendix_methods}184\input{appendix/appendix_robustness}185186\end{document}187