The short-term apartment rental market in New York is thriving. Mainly due to its central location, tourist attractions and business activity. Airbnb currently dominates the short-term apartment rental market with over 45,000 apartments in NYC alone. Therefore, the purpose of the current analysis is to find channels for investing in short-term rental apartments in NYC through Airbnb and to examine the investment's viability.
- Data from Kaggle with tranperent data on properties rented through Airbnb link
- 5 Datasets on New York City Home Sale Deals from the New York Treasury Department Website link
I examined the data base on 3 parameters:
Comprehensive - Parameters match most of Airbnb parameters.
Current - Data is 2 years old and may be not relevant.
Reliable - Not reliable as it only has data of New York.
- Customers mostly prefer whole apartments or private rooms over shared rooms. and are also willing to pay for them.
- Despite the low demand, there is no significant difference in price between shared rooms and private rooms.
- As you get closer to downtown Manhattan, rental prices go up.
- The most significant number of units for rent is in Manhattan, and the lowest is in the Bronx.
- More highlights, insights and recommendations in the Tableau story.
For the full story in Tableau Publick click here
