Airbnb CEO Brian Chesky (Getty, iStock)
The pandemic wreaked havoc on Airbnb, with the short-term rental company reporting it lost listings in 19 of 20 major markets.
The lone market that came out unscathed? Not surprisingly it was in Broward County, Florida, according to a LendingTree report that examined active Airbnb listings from May 2020 to March 2021, using Inside Airbnb. Broward reported listings rise by 2 percent in that 10-month period. Homebuyers and renters have flocked to South Florida during the pandemic, for more space and fewer Covid-19 restrictions.
On the opposite end, the New York metro area suffered mightily. In Jersey City, New Jersey, Airbnb lost 61 percent of its listings, the most nationwide. New York City lost 31 percent of its listings, placing fourth on the list. Seattle ranked second — 42 percent — and Oakland, was third at 40 percent.
Other notable cities with big losses included Chicago, at 23 percent; Los Angeles at 21 percent; and San Francisco at 17 percent. Tourist-heavy locations like Las Vegas and New Orleans saw smaller losses: 10 percent and 11 percent respectively.
The number of reviews per listing also dropped in 14 of the 20 major markets, according to the data. The biggest exception was in Santa Cruz County, California, which saw a 13 percent jump in reviews per listing. That compares to Hawaii, which saw a 22 percent dropoff.
While the Covid-19 likely played a major role in some declines, new restrictions on the short-term rental market may have also hampered listings in cities like New York and Jersey City.
Regulatory changes may have also played a part in the average number of minimum nights a guest could stay at an Airbnb, which increased in 15 of the 20 markets. That was the case in New York and Jersey City.
The average minimum stay dropped in Broward County, Clark County — Vegas — and New Orleans. Also not a surprise, those were among the best markets in terms of number of listings.
Other reasons Airbnb stays may have increased include people relocating for work or moving closer to relatives during the pandemic.
