Tel Aviv ranks fifth among cities in the world with the highest average monthly rates on the Airbnb platform. Coming in 10th place was another Israeli city, Jerusalem.
Jerusalem, where Airbnb hosts earn on average 243% more than private landlords, also ranks 24the in the list of top cities to earn as an Airbnb host, while Airbnb hosts in Tel Aviv earn on average 192% more than private landlords in the city.
Table courtesy of Compare the Market
These figures come from a study carried out by the site Compare the marketwhich looked at the average monthly cost of renting an Airbnb apartment or property across 90 of the most popular tourist locations.
Table courtesy of Compare the Market
The top 10 cities by average monthly Airbnb prices are: Las Vegas, with an average monthly Airbnb rent of $10,499.37; Honolulu ($8,360.41), Miami ($8,024), Orlando ($7,298.06), Tel Aviv ($6,907.75), Los Angeles ($6,617.88), Dubai (6,588, $04), Tokyo ($6,542.49), Chiba ($6,433.59), and Jerusalem ($5,869.89).
Tel Aviv and Jerusalem may be high, but they have nothing on Las Vegas, which saw an 888% increase in profitability on Airbnb compared to renting from private landlords.
“From homeowners to empty nests, Airbnb has provided people with a side-hustle opportunity that can help pay mortgages, rents and college bills,” said David Ruddiman, digital banking expert at Compare the Market.
“Similarly, with some Airbnb hosts making over $10,000 a month for a single property, it wouldn’t be surprising to see an increase in people using their homes as vacation rentals.”
You can read the full report here.
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