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Best Places to Airbnb in New York

Before investing in a property in New York, it’s important to analyze your options and gauge your profitability based on Airbnb’s key metrics. In this article, we’ll feature the top 10 best areas to Airbnb in New York along with their respective occupancy rates, monthly & yearly revenue, average daily rates (ADRs), and so much more!

Airbnb’s Trending Cities 

Based on a recently released article about Airbnb’s top cities this summer of 2022, guests have searched for domestic summer destinations in the USA with over 10,000 searches. This simply means that vacationers are super ready to spend money and have fun under the sun! The travel demand has continuously recovered in comparison to pre-pandemic data. 

Is Airbnb Profitable in New York? 

Based on our recent article about Airbnb occupancy rates in New York, particularly in Brooklyn, an​​ average 1 BD / BA apartment has a steady 55% occupancy rate and can generate $3,321 monthly! Short-term rentals in New York can definitely be a source of passive income because of the many tourists visiting annually.

To cut the story short, Airbnb is definitely profitable in New York! For instance, based on an Airbnb income calculator, you can earn a whopping $37,522 annually in Upper West Side alone! This area is attracting millions of visitors from around the globe for attractions such as The Empire State Building, Central Park, NY Times Square, and so much more.

Not yet convinced? Feel free to listen to one of our interviewees from Into The Airbnb Podcast – an Airbnb host consultant & property manager from New York:

Rental Arbitrage in New York

If you want to start an Airbnb investment in New York but are financially limited to purchasing your own property, don’t worry. You can still earn a passive income in two words: Rental Arbitrage! This refers to the practice of renting out properties for the sole purpose of sub-letting them on platforms such as Airbnb or HomeAway.

It may be a challenge to find landlords for Airbnb rental arbitrage since there are certain restrictions in other areas and other landlords simply do not allow it due to insurance policies. In addition to this, you also have to consider major factors in starting a rental arbitrage business in your preferred city. This includes rules & regulations, where to find the most profitable area, & how to find rental arbitrage properties.

Given the fact that South Carolina is a practical investment destination for property investors, you can always have the option to do Rental Arbitrage and earn money while you’re saving up to own a property.

Top 10 Most Profitable Cities & Neighborhoods for Airbnb in New York

New York offers excellent investment opportunities for property investors, so we went ahead and did the heavy work for you! Oftentimes, the struggle is targetting an entire city but missing out on a particular neighborhood that has an even greater chance of profitability!

Best areas for airbnb in New York

Using Airbtics’ market analysis, we were able to accurately get a grasp of Airbnb demand in New York and filtered the top 10 most profitable cities:

1. Manhattan
  • Occupancy Rate: 71%
  • Annual Revenue: $39,017
  • Average Daily Rate: $164

Based on Airbtics’ analytics tool, the best neighborhood in this area is Upper West Side, which has an average occupancy rate of 77%. An average Airbnb host can earn an average daily rate of $137 in this neighborhood!

2. Upper Manhattan
  • Occupancy Rate: 71%
  • Annual Revenue: $37,522
  • Average Daily Rate: $106

Based on Airbtics’ analytics tool, the best neighborhood in this area is Harlem, which has an average occupancy rate of 74%. An average Airbnb host can earn an average daily rate of $103 in this neighborhood!

3. Queens
  • Occupancy Rate: 78%
  • Annual Revenue: $17,333
  • Average Daily Rate: $60

Based on Airbtics’ analytics tool, the best neighborhoods in this area are:

4. Astoria
  • Occupancy Rate: 73%
  • Annual Revenue: $21,705

An average Airbnb host can earn an average daily rate of $79 in this neighborhood!

5. Ridgewood
  •  Occupancy Rate: 73%
  • Annual Revenue: $22,064

An average Airbnb host can earn an average daily rate of $75 in this neighborhood!

6. Brooklyn
  •  Occupancy Rate: 78%
  • Annual Revenue: $30,775
  • Average Daily Rate: $108

Based on Airbtics’ analytics tool, the best neighborhood in this area is:

7. Williamsburg
  •  Occupancy Rate: 87%
  • Annual Revenue: $49,575

An average Airbnb host can earn an average daily rate of $79 in this neighborhood!

8. Staten Islands
  •  Occupancy Rate: 59%
  • Annual Revenue: $20,081
  • Average Daily Rate: $90

Based on Airbtics’ analytics tool, the best neighborhood in this area is Tompkinsville, which has an average occupancy rate of 69%. An average Airbnb host can earn an average daily rate of $91 in this neighborhood!

9. Bronx
  •  Occupancy Rate: 54%
  • Annual Revenue: $15,598
  • Average Daily Rate: $78

Based on Airbtics’ analytics tool, the best neighborhood in this area is Pelham Gardens, which has an average occupancy rate of 72%. An average Airbnb host can earn an average daily rate of $91 in this neighborhood!

10. Long Island
  •  Occupancy Rate: 39%
  • Annual Revenue: $37,005
  • Average Daily Rate: $286

Based on Airbtics’ analytics tool, the best neighborhood in this area is Montauk, which has an average occupancy rate of 40%. An average Airbnb host can earn an average daily rate of $389 in this neighborhood!

General Overview 

Now that you have a deeper understanding of which particular area to target in New York and some of the major Airbnb metrics to consider, don’t miss out on greater opportunities! Since Airbnb is rapidly increasing and constantly changing for each city in the world, it is crucial to make decisions based on wild guesses. The data points mentioned in this article such as Airbnb occupancy rates per city, annual revenue, and average daily rates should be your basis for investing in properties in New York – or other cities with high occupancy rates!

Hence, an accurate data analytics tool can help your business stand out among your surrounding competitors and benchmark your property by tracking the occupancy rates of competing listings in your preferred city. With the help of our all-in-one analytics service, you can vastly enhance your monthly revenue, create a comparison for each neighborhood, add the appropriate amenities and so many more exciting features. Try Airbtics today and think of long-term profitability!

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