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Airbnb Occupancy All About Airbnb Case Studies

NYC Airbnb Occupancy Rate: Top Events Airbnb Hosts Should Know

nyc airbnb occupancy rate

 nyc airbnb occupancy rate

Key Takeaway
  • Learn how much the NYC Airbnb occupancy rate fluctuates when major events are happening.
  • This article offers valuable New York real investing information on how much you can adjust the nightly rate of your short-term rental property.

Introduction

They say, “if you can make it here, you can make it anywhere.” But you’re already in New York and can do better in its Airbnb market by using short-term rental data analytics. In this blog, we will talk about events in New York that draw more than the usual number of guests for your Airbnb rentals!

Can you do short-term rentals in New York City?

With proper registration, short-term rentals are allowed in New York City. The local government also compels you to share your hosting and listing data. You can decide not to do so. However, you can only host a tenant for at least 30 days. Complaints can be easily submitted. So, make sure that you follow the local regulations regarding short-term rentals. 

How profitable is Airbnb in NYC?

New York City currently has 8,844 listings. An NYC host with a 2-bedroom Airbnb unit can charge an average nightly rate of $189. The said property size brings in $62,810 annual revenue with a staggering occupancy rate of 89%.

Top NYC Events Every Airbnb Host Should Know

Tourists from every part of the world come to New York City throughout the year. But there are just events that make spikes in the number of visitors. Using the Airbtics Dashboard, we can know how much Airbnb hosts in various New York real estate markets earn during the months of major events:

1. St Patrick’s Day
  • Attendees: 150,000 people
  • When: March
  • Area: Midtown Manhattan
    • Best Property size: 2 bedrooms
    • March Occupancy Rate: 100%
    • March Revenue: $7,377
    • March Nightly Rate: $277
    • Airbnb annual revenue: $111,038
    • Average occupancy rate: 92%
2. Tribeca Film Festival
  • Attendees: 150,000 people
  • When: June
  • Area: Lower Manhattan
    • Best Property size: 3 bedrooms
    • June Occupancy Rate: 100%
    • June Revenue: $24,188
    • June Nightly Rate: $762
    • Airbnb annual revenue: $219,387
    • Average occupancy rate: 89%
3. National Puerto Rican Day
  • Attendees: 1.5 Million
  • When: June
  • Area: Midtown Manhattan
    • Best Property size: 2 bedrooms
    • June Occupancy Rate: 100%
    • June Revenue: $11,564
    • June Nightly Rate: $384
    • Airbnb annual revenue: $111,038
    • Average occupancy rate: 92%
4. NYC Pride Parade
  • Attendees: 2.1 Million
  • When: June
  • Area: Lower Manhattan
    • Best Property size: 3 bedrooms
    • June Occupancy Rate: 100%
    • June Revenue: $24,188
    • June Nightly Rate: $762
    • Airbnb annual revenue: $219,387
    • Average occupancy rate: 89%
5. US Open
  • Attendees: 700,000+
  • When: August
  • Area: Flushing
    • Best Property size: 2 bedrooms 
    • August Occupancy Rate: 89%
    • August Revenue: $5,135
    • August Nightly Rate: $197
    • Airbnb annual revenue: $50,282
    • Average occupancy rate: 77%
6. New York Comic Con
  • Attendees: 200,000
  • When: October
  • Area: West Side
    • Best Property size: 2 bedrooms
    • October Occupancy Rate: 100%
    • October Revenue: $9,302
    • October Nightly Rate: $345
    • Airbnb annual revenue: $110,944
    • Average occupancy rate: 88%
7. Village Halloween Parade
  • Attendees: 50,000 – 60,000
  • When: October
  • Area: Midtown Manhattan
    • Best Property size: 2 bedrooms
    • October Occupancy Rate: 100%
    • October Revenue: $10,382
    • October Nightly Rate: $380
    • Airbnb annual revenue: $111,038
    • Average occupancy rate: 92%
8. New York International Auto Show
  • Attendees: 1 Million people
  • When: April
  • Area: Midtown Manhattan
    • Best Property size: 2 bedrooms
    • April Occupancy Rate: 100%
    • April Revenue: $9,906
    • April Nightly Rate: $334
    • Airbnb annual revenue: $111,038
    • Average occupancy rate: 92%

Conclusion

Buying property in NYC began has cost you a lot of money. So, it’s important to not leave money on the table should you decide to Airbnb your New York property. Part of this is adjusting your nightly rate without losing the number of bookings. And as we have learned, you can definitely do that with the help of short-term rental data analytics. You can start exploring what it can do for you by trying this Airbnb Profit Calculator for free!

On the other hand, you can research more profitable markets with the help of reliable analytics tools such as Airbtics. By doing so, you can also discover the average Airbnb occupancy rate in other cities, their annual revenue and much more!

Monitor Your Market & Have An Empire State of Returns!

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Airbnb Rules All About Airbnb

What You Need to Know About the Airbnb Regulations NYC 2022

On the Monday afternoon of December 5, 2022, the New York City officials held a public debate with multiple property owners over the proposed New York City short-term rental law. The Airbnb regulations NYC is expected to shut down more than 10,000 Airbnb listings in the city while also making it difficult for hosts to list their apartments on short-term rental platforms.

According to an official post in the NYC Office of Special Enforcement, all short-term rental hosts will be required to register with the Mayor’s Office of Special Enforcement (OSE). The booking platforms such as Airbnb, VRBO, Booking.com, and more are also prohibited by the government officials to allow transactions from unregistered short-term rentals. The regulations include the following Airbnb NYC rules: 

  • All short-term rentals must be registered in the Office of Special Enforcement
  • Hosts are required to list the full legal name of all permanent occupants of the dwelling along with their relationship with the host.
  • Hosts should provide their lease if they are renting to certify that they understand the zoning requirements.
  • A registered host is not allowed to give rentee an exclusive access to a dwelling.
  • A short-term rental can only be rented if the host is within the same property.  

These are only among the many rules enforced by OSE. For more information, you can visit their website at nyc.gov. The implementation of this new law will begin on January 9, 2023.   

Hosts who fail to comply with the requirements will face penalties enforced by the law and would have to pay a $5,000 fine for their transgression. As for the booking service, they would be fined $1,500 per violation. 

Mayor Eric Adams’ Office of Special Enforcement informs concerned parties that the legislation is created to strengthen the enforcement of existing laws and apply stricter measures. The former law being the one passed under former Mayor Bill de Blasio wherein it is stated that renting out an apartment or other dwelling unit is illegal without the presence of the host.

As the enforcing body, OSE is in charge of regulating the home-sharing industry in New York City and they would be responsible for vetting the registration process as well as enforcing the rules. Along with this, OSE is also responsible for alerting the landlords and building owners on how they can apply to prohibit short-term rentals on their property.  

airbnb regulations nyc

airbnb regulations nyc
Photo taken from Bebeto Matthews/Associated Press

Airbnb and hosts reaction to New York City Short-Term Rental Law 

As expected, the short-term rental hosts and Airbnb itself didn’t take the new regulation well. When OSE opened its site to hear the public’s opinion on the matter, hundreds of hosts around the city submitted their comments in hopes of being heard. 

One Queen-based Airbnb host named Aimee Thrasher argued that the social security and pension hardly cover her cost of living in New York and without her income from her Airbnb, she wouldn’t be able to pay for the mortgage and she would likely lose her home. Similar cases had been put forward by other hosts as well. Airbnb is also forced to comment on the matter. 

According to the New York Post, Airbnb already reviewed the regulations and described the law as “draconian” for its harsh and severe nature. Airbnb’s spokesperson even said: 

“The bill passed by the DeBlasio administration, as interpreted by the Office of Special Enforcement, will create a draconian and unworkable registration system that will prevent lawful and responsible hosts from listing their homes at a time when New York families are navigating the rising cost of living.” 

In the words of Airbnb’s spokesperson, they will continue to engage in conversation with Adams’ administration to enforce a regulatory framework that will target illegal hotel operators and support responsible short-term rental hosts. 

While Airbnb and its hosts are in turmoil, hotels across the city are giving their full support to the city council in reinforcing the Airbnb laws in NYC. 

According to Vijay Dandapani, the President of the Hotel Association of New York City, “We are fully supportive of the City’s Local Law 18 which will require registration of short-term rentals,”. 

Numerous hotels and unions that represent the hotel workers have long been advocating for a stricter rule on short-term rental properties since having Airbnb around cuts into their market share. Furthermore, hotel associations reason that Airbnbs doesn’t hold the same safety standards as hotels.

Bottomline 

The Office of Special Enforcement will review all of the submitted feedback by the concerned hosts before implementing the final law on January 9, 2023.  

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Airbnb Investment All About Airbnb

Best Places to Airbnb in New York

Best areas for 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!

Explore The Most Profitable Airbnb Locations in New York

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Airbnb Occupancy All About Airbnb

Airbnb Occupancy Rates & Top-ranking Boroughs in New York City

new york city airbnb occupancy rates

If you have ever heard of Frank Sinatra’s song “New York, New York” or watched films that have been set in New York City, then you can definitely understand why this particular city is recognizable around the globe! 

New York City is situated in the northeastern part of the United States and is ranked as the most populous city with a winning number of 8,177,025 according to the 2022 Population Statistics. Some of the most visited tourist attractions in New York City are Times Square, The Statue of Liberty, Central Park, The Empire State Building, and the list goes on!

Undoubtedly, this city has a lot to offer to both tourists and locals who are aiming to enjoy while earning money in a city that never sleeps. According to a recently published article about NYC’s economic outlook, rents in NYC have continuously increased without interruption this 2022.

This simply means that for a variety of reasons, more and more people are looking for apartments to rent that are situated within the heart of NYC. If you are one of the numerous dedicated hosts in the Airbnb industry who would like to invest in NYC, continue reading!

new york city
New York City Occupancy Rates & Monthly Revenue

In order to accurately check the average occupancy rates and monthly revenue of the 5 Boroughs in New York City, we utilized the features of Airbtics data analytics tool.

As presented on the column chart above, the 5 Boroughs in NYC have been categorized according to their respective occupancy rates and filtered into 2 beds / 2 baths – Apartment (Condo).

Bronx:

Occupancy Rate: 50%

Median Daily Rate: $127

Average Monthly Revenue: $2,064

Brooklyn:

Occupancy Rate: 55%

Median Daily Rate: $194

Average Monthly Revenue: $3,321

Manhattan:

Occupancy Rate: 50%

Median Daily Rate: $267

Average Monthly Revenue: $4,302

Queens:

Occupancy Rate: 49%

Median Daily Rate: $159

Average Monthly Revenue: $2,375

Staten Island:

Occupancy Rate: 52%

Median Daily Rate: $120

Average Monthly Revenue: $2,227

Frequently Asked Questions

1. New York Data-Sharing
Due to a recently amended law in NYC, all Airbnb and other short-term rental platforms are required to share data on Airbnb about listings and you (as a host). You will have to agree on sharing your personal data (such as your name, physical address, profile ID number, etc.) with the city, or else you won't be allowed to host short-term stays.

2. Obtain a special license or permit to operate. For more information, you can consult the City's official portal. 

3. Pay taxes, of course. Check out the official tax bulletin from NY State for more information.

4. Abide by other rules or contracts. This includes leases, condo boards, or rules established by tenant organizations. It's important to read your lease agreement or check with your landlord about further regulations.

Learn more about New York City's Legality & Regulations.

Typically, the months of July to September are the peak seasons in New York with an average of 57% occupancy rate.

According to Airbtics' Data, the average daily rate in New York is $205 for studio-type rooms, while for an apartment (Condo) is $204.

As of April 2022, Brooklyn has the highest occupancy rate of 55% with an average monthly revenue of  $3,321.

According to Airbtics' data, Airbnb hosts in New York City can earn up to $37,896 per year.

Based on Airbtics data, it shows that Airbnb in NYC is DEFINITELY profitable!

Let us try to set aside the fact that NYC has natural powers in attracting more visitors annually and focus on this: There is an ongoing rents surge that you can take advantage of! 

Yes, advertisements for rentals in Class A dwellings are currently banned. This is in violation of the Multiple Dwelling's Law restrictions on short-term rentals.

Though taxes may vary accordingly, some examples of taxes that are applicable to your listing are state sales and use tax, city hotel room occupancy tax, and the like.

Check out the official details from NYC's Department of Finance about hotel room occupancy tax.

It's a fact that amenities are one of the winning factors for most guests, which is why we have to be guided by a list of Airbnb must-have amenities.

According to a recent survey from Streeteasy, here are a few perfect amenities for New Yorkers:

- In-Unit Laundry

- Dishwasher

- Parking

- Centralized AC

- Shared Outdoor Space
how much can you make on airbnb