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These cities’ short-term rental income spiked the most from the World Cup
['Ryan Kushner', 'Robyn Griggs Lawrence']
Smart Cities Dive - Latest News
The largest income jumps were in host cities where short-term rentals are more broadly permitted, with Miami short-term rental income rising 709%; Kansas City, Missouri, rising 607%; and Dallas-Fort Worth rising 587%.
Highly regulated short-term rental markets, including Los Angeles, New York/New Jersey and Boston, saw more moderate double-digit jumps.
Dive Insight:The World Cup sparked a renewed push for short-term rentals from facilitators, with Airbnb offering a $750 incentive to new hosts during the tournament.
As U.S. cities face a housing affordability crisis, however, more are cracking down on short-term rentals, which some studies have shown can lead to increased rent and housing costs.
New York City has one of the country’s most stringent short-term rental laws, banning rentals shorter than 30 days and requiring registration with the city.