New Studies Highlight Hurricane Impact on Renters: Rising Rents, Evictions, and Housing Crisis (Insurance Journal)

New Studies Highlight Hurricane Impact on Renters: Rising Rents, Evictions, and Housing Crisis

  Friday, December 15th, 2023 Source: Insurance Journal

Recent studies based on a decade of data (2009-2018) have unveiled the vulnerability of renters living along the East and Gulf coasts of the United States to hurricane disasters. These studies, to be presented at the 2023 Society for Risk Analysis Annual Conference, reveal that hurricanes lead to increased rents, higher eviction rates, and a scarcity of affordable housing, exacerbating the already severe housing crisis.

Dr. Kelsea Best from The Ohio State University, focusing on the relationship between hurricane intensity and rental affordability, found that median rents rise significantly following intense hurricanes. This rise is primarily due to the reduced availability of housing. The study also highlights that hurricanes disproportionately affect counties with a higher percentage of renters and people of color. It notes that over one-third of the American population lives in rental housing, yet renters have limited access to post-disaster aid and are often underinsured.

Dr. Best emphasizes the need for targeted attention towards renters, especially low-income and minority groups, in disaster recovery efforts. She suggests policy interventions such as eviction moratoria, emergency rental assistance, and rent control measures. Furthermore, she advocates for policies prioritizing affordable housing supply and monitoring market rent prices.

Dr. Qian He from Rowan University explored the link between hurricanes and eviction risks. The findings indicate that hurricanes lead to higher eviction rates by increasing rent prices. However, counties receiving substantial federal aid showed lower eviction rates two years post-disaster, signifying the importance of such aid in mitigating housing vulnerability.

The research underscores the effectiveness of federal policies like the CDC’s eviction moratorium during the Covid-19 pandemic in providing crucial relief to renters. Dr. He suggests similar measures post-disaster could protect renters from eviction.

In summary, these studies call for concerted policy efforts to support renters in hurricane-affected areas, highlighting the necessity of targeted federal aid and legal support to address the deepening housing crisis post-disaster.

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