Airbnb in Massachusetts booming as regulation looms
Airbnb had a particularly record year in Massachusetts in 2018, the last full year before new regulations targeting these home-sharing sites took effect.
In 2018, 1.2 million people stayed in Airbnb rentals in Massachusetts, and Airbnb hosts in the state earned $256.4 million, the home-sharing site said in a recent report. In 2017, 893,200 people stayed in Airbnb rentals in Massachusettsearning the hosts $193 million.
Most of those Airbnb guests from Massachusetts in 2018 stayed in the Boston area. In Suffolk County, which includes Boston, there were 465,500 guests and $101.9 million in revenue in 2018. In Middlesex County, which includes Cambridge and Somerville, there were 230,100 visitors and 51.7 million dollars in revenue.
At the start of 2019, there were 15,700 Airbnb hosts in Massachusetts, each typically earning around $7,800 in additional income from rentals, according to the site.
“This 2018 data demonstrates not only the success of the community we’ve built in Massachusetts, but also the important role home sharing plays in the financial future of families across the Commonwealth,” said Andrew Kalloch, Massachusetts Public Policy Manager for Airbnb. , said in a statement. “There is no doubt that short-term rentals are an economic driver for hosts, communities and local small businesses, one that we will continue to strive to protect and grow into early 2019.”
The new regulations for home-sharing sites come into effect on July 1. Many short-term rental hosts will pay the same 5.7% state tax as hotels and will need to register with the state. Airbnb called the legislation behind the regulations “flawed.”
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