There Are More Airbnb Listings in New York Than Apartments to Rent
A new report shows that renters are facing more obstacles.
Moving to and within New York City often comes with a great deal of stress. With rent prices constantly on the rise, limited parking available for moving trucks, and a large number of walk-up units, settling in a new house in the Big Apple can be harder than in other cities across the country.
Now, New Yorkers have to face a new challenge: There might be more Airbnb listings than actual apartments available for rent. According to a Curbed report, there are now less than 10,000 units available across Manhattan, Brooklyn, and northwest Queen. In April, that number hit 7,669. Airbnb, on the other hand, is currently listing 10,572 entire-apartment and entire-home rentals in New York City according to AirDNA. Another site tracking listing data, Inside Airbnb, says that the number is well above 10,000, hitting 20,397, Curbed reports.
While the number of Airbnb listings available dropped during the pandemic, Curbed suggests there might be a correlation between NYC's housing shortage and the number of short-term rentals available, although Airbnb disagrees. "Over the past two years, our entire space listing supply citywide has decreased, and it now represents a fraction of a percent of the city’s rental units," said an Airbnb spokesperson. "And all while rent prices have trended upward and city-issued permits for new-unit development remain down by a double-digit percentage."
New York effectively banned short-term rentals without the owner present in 2011, and made them illegal to advertise in 2016. However, there are still some exceptions. Garden apartments in owner-occupied brownstown buildings can be rented out throughout the year, a stock of housing that might have previously gone to long-term tenants. Others might be available only for times when owners are traveling.
With prices continuing to rise and available units dwindling, renters are facing a tough road ahead. If you are apartment hunting and want access to more information on affordable housing, you can visit this link.