Airbnb is bringing economic opportunity to households and businesses throughout the five boroughs.
A new report — which focuses on predominantly Hispanic neighborhoods — is the fourth in a series that explores the impact of home sharing on a range of New York City communities. It examines Airbnb activity in 2016 in three Community Districts that are home to the highest percentage of Hispanic residents in the five boroughs.
It finds that in 2016, 6,567 Airbnb hosts in these neighborhoods welcomed nearly 270,000 travelers to their communities, generating over $58.5 million for host families and millions more for local small businesses.
Other key findings include:
- The number of Airbnb guests who stayed in predominantly Hispanic neighborhoods rose 40 percent between 2015 and 2016.
- There are over 8,100 Airbnb listings in these communities, compared to just 35 hotels, once again highlighting how Airbnb is helping to bring the benefits of the tourist economy to neighborhoods well beyond the hotel district of Midtown Manhattan.
- With the exception of Manhattan CD 11, the average nightly price charged by hosts in these neighborhoods was below $80, with many neighborhoods in the $50-70 range. Travelers are therefore able to stay longer and spend the money they saved on accommodation at local businesses.
- The typical host in these communities rents their home between two (Manhattan CD 9) and five (Bronx CD 5) nights a month, a clear sign that most hosts use short-term rentals to supplement their income and make ends meet in an increasingly expensive city.
- Hosts in these neighborhoods are using Airbnb’s “Guidebook” tool to share their favorite local small businesses with guests, from restaurants and bars to coffee houses and bagel shops.