This paper offers an empirical investigation into the influence of rent control measures on housing prices in Palm Beach County, Florida. Leveraging comprehensive Multiple Listing Service (MLS) data, the study explores how homeowner association-level restrictions such as the frequency of rentals per year, minimum rental duration, tenant credit score requirements, and caps on the percentage of rentable units within a community impact local home prices. Utilizing a robust empirical design, the study exploits variations in rental regulations across different neighborhoods to identify causal effects. Preliminary results suggest that stringent rental restrictions correlate with higher housing prices. The findings provide critical insights into the intersection of rental regulations and housing affordability, contributing to ongoing policy discussions around the institution of rent controls. This research underscores the need for careful consideration of rental policies to balance property values, rental demand, and housing affordability. The implications of these findings are of significant interest to policymakers, real estate professionals, and residential community developers.

Key Words: rent controls, home prices, rental restrictions, housing affordability

JEL codes: R31, R38, J11, K23