Inside Airbnb: Jersey City
November 4, 2019
A Report by Murray Cox of Inside Airbnb
On November 5, 2019, Jersey City voters have an opportunity to affirm, via a voter Ballot, Jersey City Council ordinances which serve to regulate Short-Term Rental activity.
Much of the debate around the ordinance, and the voter ballot have focussed on rhetoric and multi-million-dollar advertising and lobbying campaigns by Short-Term Rental platforms, and by the hotel industry.
This report aims to provide some facts on Short-Term Rental use in Jersey City, especially the distinct and majority Commercial nature of Airbnb use.
- “Homesharing” generates only 9% of Airbnb Revenue in Jersey City, the rest is generated by Commercial Operators
- When Breaking down listings by “Commercial ” vs “Home Sharing”, 75% of Listings are Commercial and earn a massive 91% of Revenue
- The majority of Airbnb use in Jersey City, and almost all revenue is “unhosted”
- 67% of Jersey City Listings are Entire Home/apartment Listings (87% of Revenue)
- via Entire Apartments and Houses, not renting out “Spare Rooms”
- Most Entire Homes Airbnb listings are in a property portfolio managed by professional hosts
- 72% of Entire Home listings are offered by hosts that have more than one Entire Home listing (76% of Revenue)
- The top 20 Hosts (by number of Listings) control 799 Listings and made a total of $7.3M in the last 12 months
- Absent Hosts dominate the Airbnb platform in Jersey City
- 58% of Entire Home listings are operated by Hosts who live outside of Jersey City (54% of Revenue)
- Airbnb use in Jersey City is aligned around access to New York City
92% of Listings are within 0.5 miles of public transport to New York City, accounting for 91% of revenue
The full report can be downloaded here.
For the Press