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Airbnb Defacto Ban in NYC Spurs ‘Staggering’ Positive factors in New Jersey

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Skift Take

It is good occasions for Airbnb hosts in two New Jersey cities inside a simple mass transit commute of NYC.

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In relation to Airbnb’s decline in New York Metropolis due to a defacto ban, two close by cities – Newark and Jersey Metropolis – are taking benefit.

Beneath the heading, New York’s Loss Is New Jersey’s Achieve, an AirDNA weblog put up this week on December short-term rental demand discovered: “Turning to our prime 50 markets, the impact of the New York laws is staggering. New York simply takes the bottom demand progress with an astounding -46.1%. Close by Jersey Metropolis/Newark, which may serve in its place lodging vacation spot for these visiting the Large Apple, grew to become NYC’s mirror picture with the very best demand progress at 53.7%.”

Airbnb in NYC Versus New Jersey

In different phrases, short-term rental demand progress in New York Metropolis, the place Airbnb was the dominant supplier, fell 46.1% in December 2023 versus a 12 months earlier, based on AirDNA.

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And in New Jersey’s two most populous cities, Newark (#1) and Jersey Metropolis (#2), each inside a simple mass transit trip from New York Metropolis, short-term rental demand grew by greater than half.

Final September, New York Metropolis carried out robust guidelines that restricted stays beneath 30 days to these the place the registered host was current in the course of the keep. On the time, Skift reported that New Jersey may benefit: “One week after the town carried out robust host registration necessities, you possibly can anticipate to see listings that violate the foundations, extra lodges, and stays in New Jersey.”

As of January 15, New York Metropolis’s Workplace of Particular Enforcement accredited only one,211 host functions, a sliver of Airbnb’s former footprint within the metropolis.

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AirDNA’s Estimates on the Change in Quick-Time period Rental Demand

The next chart from the short-term rental analytics and tech agency discovered that no different cities got here close to the demand bounce in Newark/Jersey Metropolis. The 2 closest had been Myrtle Seaside, South Carolina (a 19.9% bounce), San Antonio, Texas (up 16.6%), and Miami (a 16.3% improve), AirDNA discovered.

Airbnb declined to touch upon the NYC versus New Jersey demand influence.

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