Where Airbnb Lost Most Ads During the Pandemic
The pandemic has taken its toll on Airbnb, with the short-term rental company reporting it has lost listings in 19 of the top 20 markets.
The only market that comes out unscathed? Unsurprisingly, it was in Broward County, Florida, according to a LendingTree report that looked at active Airbnb listings from May 2020 through March 2021, using Inside Airbnb. Broward said registrations grew 2% over that 10-month period. Buyers and renters have flocked to South Florida during the pandemic, for more space and fewer Covid-19 restrictions.
In contrast, the New York metropolitan area has suffered tremendously. In Jersey City, New Jersey, Airbnb lost 61% of its listings, the highest number nationwide. New York City lost 31% of its listings, ranking fourth on the list. Seattle was second – 42% – and Oakland, third at 40%.
Other notable cities with large losses included Chicago, at 23 percent; Los Angeles at 21%; and San Francisco at 17 percent. Tourist spots like Las Vegas and New Orleans recorded smaller losses: 10% and 11% respectively.
The number of reviews per ad also fell in 14 of the top 20 markets, the data showed. The biggest exception was Santa Cruz County, California, which saw a 13% increase in reviews per ad. This compares to Hawaii, which saw a 22% drop.
While Covid-19 likely played a major role in some of the declines, new restrictions in the short-term rental market may also have hampered listings in cities like New York and Jersey City.
Regulatory changes may also have played a role in the average number of minimum nights a customer can stay at an Airbnb, which has increased in 15 of 20 markets. This was the case in New York and Jersey City.
The average minimum stay has fallen in Broward County, Clark County – Vegas – and New Orleans. Not a surprise either, these were among the cheapest in terms of number of registrations.
Other reasons Airbnb stays may have increased include people moving to work or being closer to loved ones during the pandemic.