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Learn about the Airbnb restrictions & rules in Brooklyn, New York City. Check out the occupancy rates, annual revenue, and more in Brooklyn.
Are you looking to invest in an Airbnb property in New York? If you have chosen Brooklyn in particular, then you’re on the right track.
There’s no doubt that the best places to Airbnb in New York are generating thousands of dollars which catches the attention of property owners and investors from all over the world. In addition to this, top-ranking boroughs in New York offer various investment opportunities that one should not miss out on.
Continue reading to learn more about Airbnb rules in Brooklyn and check out the profitability in this city.
Let’s cut the story short: Yes, Airbnb is certainly legal in Brooklyn. With more than 265.5 million visitors annually, this city is home to the iconic Coney Island, Brooklyn Bridge, Prospect Park, and more.
Here is a little proof! As of July 2022, there are 90,533 nights available in Brooklyn from Airbnb alone. Eugene manages 32 listings, while Kristina & Jack and Aleph operate 24 and 23 respectively.
Currently, there are 6,144 Airbnb listings in Brooklyn, with 47% of entire houses earning up to $4,198 a month. The Average Occupancy Rate in Brooklyn is 78% and the average daily rate is $108. According to vacation properties market data source Airbtics, a 2-bedroom apartment in Brooklyn can make up to $49,786 each year. Find out how much you can make on Airbnb by checking out our Short-Term Rental Calculator!
If you’re worried about spending thousands of bucks to purchase a property, the good news is you have the option of not owning one. This is because there are many property investors who enjoy doing rental arbitrage in Brooklyn as a passive income!
Airbnb metrics are important in order to expect potential revenue and avoid losing hard-earned money. Before starting an Airbnb business, getting to know your preferred area’s occupancy rates, average daily rates, and annual revenue is important to achieve success.
By using an accurate short-term rental calculator, you’ll be able to confirm if Brooklyn is a good place for investment! In the digital era, it’s easy to discover your estimated annual revenue and high-return investment opportunities in Brooklyn.
Source: Airbtics Dashboard
Based on a recent report of Brooklyn’s rental market trend in 2022, the median asking price has increased by 6.6% and is expected to rise and its property values are on higher-end among all the boroughs in New York City.
Source: Housing Market Trend in Brooklyn
Here are some of the most recommended neighborhoods that you can look into & consider purchasing based on Airbtics estimator:
Suburbs | Average House Price (1bd apartments) | Average Rent Price | Average Airbnb Revenue |
---|---|---|---|
Williamsburg | $995,000 (694 sqft) | $2,600 | $4,413 |
Crown Heights | $510,000 (489 sqft) | $2,025 | $3,107 |
Park Slope | $750,000 (620 sqft) | $2,775 | $4,614 |
Source for Property Price: Properties in Brooklyn
In general, considering the Airbnb rules & regulations in Brooklyn will help your Airbnb business to run smoothly! Aside from the fact that this is a passive income for various hosts, starting an Airbnb business is also a way to enjoy life and connect with new people from all over the world. Try Airbtics now and make the wisest investment decisions!
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