The Morning After: New York City's Airbnb listings may outnumber rentable apartments




Airbnb makes news for a mix of good and bad reasons. When it's not expanding the service to make it easier to stay between multiple properties on the same trip, its safety team (and terrible rentals) are becoming the subject of a documentary series.

Now, according to a report from Curbed, April 2022 apartment rental inventory in Manhattan, Brooklyn and northwest Queens numbered 7,699 units. That compares to somewhere between 10,000 and 20,000 entire-apartment or entire-home Airbnb listings across all of NYC, as calculated by AirDNA and Inside Airbnb.

New York City prohibited short-term rentals (less than 30 days) in multi-unit buildings without the owner present since 2011, making it illegal to even advertise such listings in 2016. The report hasn't traced whether Airbnb hosts are following these guidelines.

Airbnb hasn't solely caused the NYC housing shortage - an issue seen in most 'desirable' cities across the world. In New York, rents are going up, and permits for new apartments are down by "a double-digit percentage" said Airbnb's spokesperson.

However, the optics of having more Airbnb listings than rentable apartments are not good.

-Mat Smith

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  • Alexa
    (2022-05-20 06:13:37Z)

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