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Is Tourism to Blame? Short-Term Rentals and Housing Availability in Montana

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Abstract
Montana experienced almost 12% population growth between 2010 and 2021, with its largest increase of 1.7% between 2020 and 2021. This growth has been concentrated in Western Montana, specifically in areas like Bozeman, Missoula, and Kalispell. This is in unison with the growth of short-term rentals (STR), bringing perceptions of both positive and negative impacts on the communities, hosts, and guests. Platforms like VRBO and Airbnb have streamlined the process for owners and renters to communicate and transact. The COVID-19 pandemic exacerbated the demand for STR as people were looking for accommodations with little human interaction and remote workers that could stay for extended lengths of time. While these rentals benefited tourists, communities struggled with housing shortages, affordability, and inflation (Furukawa & Onuki, 2019). Moreover, tourism soon became a key cause in the narrative that was causing the housing crisis (Clancy, 2020). This research aims to understand the factors and broader context of government policies that contribute to tight housing markets in Montana, which has over 12 million visitors in contrast to 1 million residents.
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