Airbnb Profits: What the average host in New York City earns per year
Jul 9, 2016, 8:39 pm
#1
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Airbnb Profits: What the average host in New York City earns per year
When it comes the cost of living, few places in the world are as expensive as New York City, a place where a tiny studio can sometimes run as high as $2,000 per month.
In turn, Airbnb, not surprisingly, has become exceedingly popular service in the Big Apple. Not only is New York City a top-flight tourist destination, but the high cost of living there incentivizes New Yorkers — perhaps more so than in other cities — to put their places up on Airbnb for a little bit of extra cash each month.
But just how much do New Yorkers make, on average from the popular apartment and house sharing site? Not a point of speculation anymore, Airbnb has given us some cold hard data to play around with.
http://bgr.com/2016/07/08/airbnb-pro...nnual-revenue/
In turn, Airbnb, not surprisingly, has become exceedingly popular service in the Big Apple. Not only is New York City a top-flight tourist destination, but the high cost of living there incentivizes New Yorkers — perhaps more so than in other cities — to put their places up on Airbnb for a little bit of extra cash each month.
But just how much do New Yorkers make, on average from the popular apartment and house sharing site? Not a point of speculation anymore, Airbnb has given us some cold hard data to play around with.
http://bgr.com/2016/07/08/airbnb-pro...nnual-revenue/
Jul 16, 2016, 4:33 pm
#2
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My brother & SIL used to rent out their place in Fort Greene and the income from that rental would cover their rent (for the time gone) and normally the cost of their hotel/AirBNB while traveling in Europe. To me renting out my place is not for me but the two times I have used AirBNB have been good experiences.
Last edited by Yoshi212; Jul 16, 2016 at 4:40 pm Reason: add detail
Jul 21, 2016, 8:42 am
#3
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I've seen people cover way more than their monthly rent or mortgage payments in the Scandinavian countries by renting out their homes for daily or weekly rentals. Making a profit out of the rental/re-rental is not just a fact of life in NYC but some places are more profitable at times than other places. High demand locations like NYC being definitely way up there in where there is a lot of cream to be had by renting out homes.
Jul 21, 2016, 9:13 am
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The most striking thing I just learned from reading the linked article is that the average rent for a 2BR in San Francisco is 24% higher than the average rent in NY, the next-highest city. Holy Moses. I knew SFO was bad, but I didn't know it was that bad!
Jul 21, 2016, 11:20 am
#5
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Likely because NYC is very spread out with lots of rentals in undesirable neighborhoods. A better comparison would be Manhattan below 98 Street only.
Jul 21, 2016, 11:24 am
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It's well known that many homeowners make a killing when some really big special event comes to their city. In many cases, they're happy to leave town until it's over.
In areas that are both year round residential and vacation resorts, such as some of the shore of Long Island, people will move out for high season and rent their places to vacationers. It's obviously profitable enough to be worth the inconvenience and cost of living elsewhere for the period.
In areas that are both year round residential and vacation resorts, such as some of the shore of Long Island, people will move out for high season and rent their places to vacationers. It's obviously profitable enough to be worth the inconvenience and cost of living elsewhere for the period.
Jul 21, 2016, 1:17 pm
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In Wimbledon many a large house is rented out to the players and their entourages via an agency (nothing as ordinary as AirBnB) for the entire fortnight and it pays for the family to have two weeks away somewhere nice away from the chaos.
But the OP seems to be conflating 'earnings'a and 'profits'
You might have high earnings but very little profit. I read an article about how many owners provide so many 'extras' so as to get the oh so important good rating that they actually earn very little at the end of the day.
I did look at AirBnb for San Francisco - some nice places but more expensive than a hotel room in the area I wanted to be - plus I stlll had to take out the trash!
Jul 21, 2016, 2:06 pm
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But the OP seems to be conflating 'earnings'a and 'profits'
You might have high earnings but very little profit. I read an article about how many owners provide so many 'extras' so as to get the oh so important good rating that they actually earn very little at the end of the day.
You might have high earnings but very little profit. I read an article about how many owners provide so many 'extras' so as to get the oh so important good rating that they actually earn very little at the end of the day.
Jul 22, 2016, 5:58 am
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It's still illegal and they are making it harder to advertise these types of properties, but it's a cat and mouse thing and there is still availability. And there's also tons of scams and folks showing up and finding they have no place to stay
Jul 22, 2016, 6:53 am
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It's still illegal, and very likely to stay that way.
Read through Airbnb's report, and they're being very careful about how they present the data. They say that 96% of hosts have only one listing, and that the median number of nights a host rents for is only 47, implying that the bulk of the platform really is just "folks renting their apartment out for a weekend" sort of thing. Illegal, but not necessarily having a big impact on housing availability.
Really, though, I'd want to see what share of nights rented are to units rented out by people with more than one unit - I'd bet it's a LOT higher than the 14% of listings that are by hosts with more than one listing.
Read through Airbnb's report, and they're being very careful about how they present the data. They say that 96% of hosts have only one listing, and that the median number of nights a host rents for is only 47, implying that the bulk of the platform really is just "folks renting their apartment out for a weekend" sort of thing. Illegal, but not necessarily having a big impact on housing availability.
Really, though, I'd want to see what share of nights rented are to units rented out by people with more than one unit - I'd bet it's a LOT higher than the 14% of listings that are by hosts with more than one listing.
Jul 22, 2016, 7:53 pm
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I bet not that many as the vacancy rate is 2-3% in manhattan - which means the unit is occupied. Most are likely hosts that vacate the space or are away.
Jul 24, 2016, 12:39 pm
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Don't believe everything you read.
Jul 25, 2016, 5:17 am
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Not quite following you here. My suspicion is that, while the number of _units_ which are listed by "more than one listing" listers is pretty small, the share of the nights which are actually rented by those folks is much higher. In other words, you have a bunch of people renting for a weekend here or there, and a few people who have turned apartments into hotels, and are renting them out full time - the latter group is a big share of the total nights rented, and hence AirBnB's business, but AirBnB doesn't want to admit that.
Jul 25, 2016, 2:03 pm
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Not quite following you here. My suspicion is that, while the number of _units_ which are listed by "more than one listing" listers is pretty small, the share of the nights which are actually rented by those folks is much higher. In other words, you have a bunch of people renting for a weekend here or there, and a few people who have turned apartments into hotels, and are renting them out full time - the latter group is a big share of the total nights rented, and hence AirBnB's business, but AirBnB doesn't want to admit that.