From FOX 10 News Phoenix:
The city council approved a $240,000 program earlier this week that would incentivize homeowners to lease out their homes to local workers because of a lack of affordable housing.
According to data from the city, only 4% of total dwelling units in the city are apartments – drastically below the 16% average in the state.
“People working in Sedona struggle to find housing due to skyrocketing real estate prices and vacation rentals dominating the rental market,” city officials said.
Nearly 15% of residences in Sedona are short-term rentals, making them unavailable and financially “unattainable” for working residents.
Continue reading Sedona will pay residents to not use homes as Airbnb rentals on FOX 10 News Phoenix
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