Since 2008, Airbnb hosts in the City of Los Angeles have provided accommodations to tourists and business travelers from all over the globe. With more than 48 million visitors traveling to Los Angeles every year, Airbnb and other short-term rental providers are now a common and important feature of the city’s hospitality sector.
The growing popularity of short-term rental platforms like Airbnb has led to conversations about how best to regulate the industry. As city leaders continue to debate short-term rental regulations, a new report provides more insight into “full-time Airbnb rentals,” or entire home and apartment units rented on our platform for more than 180 days per year.
The report by Krueger Economics, and commissioned by Airbnb, intends to inform this discussion by providing data, research, and analysis about Airbnb’s impact on LA housing stock and vacation rental market.
Among other key findings, the report found:
- Vacation rentals have a long history in Los Angeles, even before Airbnb was established.
- Airbnb is not growing LA’s vacation rental market. In 87% of Los Angeles zip codes, the number of traditional vacation homes exceeds “full-time” Airbnb rentals.
- 89% of Airbnb listings in Los Angeles are shared rooms, private space, or entire homes rented for less than 180 nights a year.
- Full-time Airbnb rentals make up an insignificant portion of LA’s housing stock — only 0.26% in 2017.
- In the overwhelming majority of zip codes, it is not profitable to convert long-term rental housing into Airbnb rentals.
Airbnb cares deeply about the housing affordability issue in Los Angeles and is committed to continuing to work with city leaders on regulations that protect housing and support responsible growth in the industry.
You can read more here.