How Airbnb Can Support Low-Income Communities in NYC

How Airbnb Can Support Low-Income Communities in NYC
 Introduction / 2 Key Findings / 3 Poverty in NYC / 5 Host Stories / 8 Detailed Analysis / 9 Nei...
Author: Charla Nelson
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How Airbnb Can Support Low-Income Communities in NYC


Introduction / 2 Key Findings / 3 Poverty in NYC / 5 Host Stories / 8 Detailed Analysis / 9 Neighborhood Snapshots / 24

INTRODUCTION New York City suffers from some of the greatest income and wealth inequality in the nation. In Manhattan, the top 5 percent of households earned 88 times as much as the poorest 20 percent in 2013—the highest disparity of any American county.1 The latest data shows that 21 percent of New York City residents live below the poverty line, including 30 percent of youth.2 There is no silver bullet to solving the problems of poverty and inequality. However, home sharing is already unlocking a new source of desperately needed income in many low-income communities throughout New York City. This report examines Airbnb activity in a subset of New York City’s low-income communities known as HUD Revitalization Areas, which we will call “HUDRAs.” HUDRAs in NYC are primarily located in three areas: the South Bronx, Harlem/East Harlem, and North-Central Brooklyn--well outside the traditional tourist zone of Midtown Manhattan. Each of these areas is examined in further detail below. Airbnb data indicate that there is significant demand for accommodation in these neighborhoods and that home sharing is already a critical lifeline in hundreds of NYC block groups.3

1

Sam Roberts, “Gap Between Manhattan’s Rich and Poor is Greatest in U.S., Census Finds,” New York Times (18 Sep. 2014); As of 2014, the Gini Index of income inequality is nearly 25 percent higher in Manhattan than in the rest of the country as a whole. See: 2014 American Community Survey, 1-Year Estimates, B19083. 2

2014 American Community Survey, 1-Year Estimates, S1701.

3

The data covers all domestic listing locations and trips from 7/1/2015 until 7/1/2016.

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KEY FINDINGS 1.

Airbnb is a Major Source of Income in Revitalization Areas: Airbnb listings in NYC HUDRAs brought $39 million in income to hosts in the last year-- over 9 percent of the total Airbnb listing income in New York City. The median income of a typical listing4 in the median NYC HUDRA amounts to 13 percent of median household income. These are critical dollars in neighborhoods where one-third of all renters pay over half their income in rent. Available demographic data on the host community suggests that hosts with listings in HUDRAs are similar to hosts with listings in non-HUDRAs. The median age of a HUDRA host is 32, and the gender breakdown is 45 percent female, 35 percent male, 19 percent unknown, and 1 percent other. Outside HUDRAs, the median age is 32, and the gender breakdown is 42 percent female, 36 percent male, 21 percent unknown, and 1 percent other.

2. By Renting Out Their Home Only 3 Nights Per Month, Households in Revitalization Areas of New York City Can Increase Their Household Income By 10 percent: The median number of nights that an entire home in NYC HUDRAs must be rented in a year to increase median household income by 10 percent is 32. The median number of nights that a private room in NYC HUDRAs must be rented in a year to increase median household income by 10 percent is 69-- fewer than 6 nights a month. 3. Listings in Revitalization Areas Account for a Proportionate Share of Host Income: Airbnb activity is not disproportionately concentrated outside of revitalization areas. In fact, HUDRAs represent 8.9 percent of the City’s Census block groups and generate 9.2 percent of Airbnb listing income in New York City. 4. Airbnb Activity is Growing Faster in Revitalization Areas than in the City as a Whole: Between the year ending April 1, 2015 and the year ending July 1, 2016, the share of total hosting income in NYC coming from HUDRAs has steadily increased, from 7.3 percent in the year ending April 1, 2015 to 9.2 percent in the year ending July 1, 2016.

4

A typical listing is a listing that was first active more than a year ago, and had at least one trip in the last year.

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5. Airbnb Income in Revitalization Areas Provides a Significant Supplement to Existing Public Income Support: In NYC HUDRAs, Airbnb listing income is a significant complement to the existing social safety net.5 Total Airbnb income in these neighborhoods equates to roughly 49 percent of aggregate Public Assistance Income,6 12 percent of aggregate Supplemental Security Income,7 and 5 percent of aggregate Social Security Income.8 6. Nightly Earnings in Revitalization Areas Cover a Greater Share of Monthly Rent than in Wealthier Communities: While the average nightly earnings of entire home listings in HUDRAs ($116) trails the broader city ($133),9 a household in a non-HUDRA area would need to rent out their home on Airbnb roughly 15 percent longer than a household in a HUDRA (11.3 days vs. 9.8 days) to pay off a month’s median gross rent.

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In addition to providing a supplement to existing public benefits, home sharing is becoming a key source of income for many retirees. Seniors are the fastest growing Airbnb host group in the Unites States, with growth among senior women hosts in New York State twice as fast as the general population. Nationwide, nearly half of senior hosts live on a fixed retirement income and 45 percent report relying on Airbnb to make ends meet. See: Airbnb’s Growing Community of 60+ Women Hosts. 6

Public assistance income includes general assistance and Temporary Assistance to Needy Families (TANF). Separate payments received for hospital or other medical care (vendor payments) are excluded. This does not include Supplemental Security Income (SSI) or non-cash benefits such as Food Stamps. See: American Community Survey: 2014 Subject Definitions, p.81. 7

Supplemental Security Income (SSI) is a nationwide U.S. assistance program administered by the Social Security Administration that guarantees a minimum level of income for needy aged, blind, or disabled individuals. Id. 8

Social Security income includes Social Security pensions and survivor benefits, permanent disability insurance payments made by the Social Security Administration prior to deductions for medical insurance, and railroad retirement insurance checks from the U.S. government. Medicare reimbursements are not included. Id. 9

The average for all listings in HUDRAs ($64) also trails the average for all listings in non-HUDRAs ($86).

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POVERTY IN NEW YORK CITY While poverty affects every neighborhood in the five boroughs, many communities suffer from “concentrated” or “extreme poverty”—defined by the Census as an area where more than 30 or 40 percent of the population lives in poverty, respectively. More than 472,000 New Yorkers live in community districts suffering from extreme poverty and over 1.1 million live in community districts with concentrated poverty.10 Most of these communities are in neighborhoods of color in the South Bronx, Upper Manhattan, and Central Brooklyn. In fact, 30.7 and 25.8 percent of Hispanic and Black New Yorkers, respectively, live in neighborhoods with concentrated poverty and an astonishing 96.9 percent of New Yorkers who live in extreme poverty districts are Black or Hispanic. Poverty creates significant barriers to opportunity and mobility wherever it exists. However, recent research11 has shown that concentrated poverty compounds the problems, limiting educational opportunity for children, increasing crime rates and poor health outcomes, hindering wealth building, reducing private-sector investment, and ultimately raising costs for local governments.12 One of the goals of this report is to explore home sharing activity in some of New York City’s most disadvantaged neighborhoods—HUD Revitalization Areas, or HUDRAs. HUDRAs are U.S. Census block groups, authorized by Congress under provisions of the National Housing Act, that have low real estate owned (REO) sales prices, as well as at least one of the following: 1. Very low income relative to their surrounding area; 2. Low homeownership rate; or 10

2014 American Community Survey.

11

Harvard University, The Equality of Opportunity Project.

12

Concentrated poverty compounds the effects of inequality by reducing intergenerational economic mobility. As Princeton sociologist Douglas Massey wrote, “In a very real way, barriers to spatial mobility are barriers to social mobility,” which in turn lead to increased social disorder and violence, lower life expectancy, and worse educational and occupational outcomes.” See: Douglas S. Massey, “Residential Segregation and Neighborhood Conditions in U.S. Metropolitan Areas.”

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3. Disproportionately high concentration of REO properties.13 HUD Revitalization Areas were created for programs that promote “the revitalization, through expanded homeownership opportunities, of revitalization areas.”14 Examples of such programs include the Asset Control Area program, which allows some properties with an appraised value of $25,000 or less to be purchased for $100, or at a 50 percent discount if more Figure 1: HUDRA Block Groups In New York City

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To qualify, a block group must have a Real Estate Owned (REO) average sales price less than $200,000, and at least one of the following: 1. Very Low Income: less than 60 percent of the median household income of its respective metropolitan area (if in a metropolitan area), or state (if in a rural area) 2. Low Homeownership Rate: Homeownership rate below 60 percent, with some exceptions. 3. High Concentration of HUD REO single-family properties: Disproportionately high concentration of HUD REO single-family properties, as determined by the Homeownership Center staff. See: Department of Housing and Urban Development, “Revitalization Area Evaluation Criteria,” 2011. 14

Department of Housing and Urban Development, “FHA Revitalization Area Sales Programs.”

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expensive, and the Good Neighbor Next Door program, which allows certain single family properties to be sold at a 50 percent discount to police officers, teachers, firefighters, and emergency medical technicians. While HUDRAs are not necessarily the lowest-income Census tracts in the City, they tend to be far poorer than non-HUDRAs. The median household income in NYC HUDRAs ($32,000) is 43 percent below the median in non-HUDRAs ($56,000), and the median percentage of renters (79 percent) in HUDRAs is significantly higher than the non-HUDRA median (60 percent).

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HOST STORIES Yahaira: Williamsbridge, The Bronx Yahaira works in construction management. She recently purchased her home in the Williamsbridge section of The Bronx and relies on Airbnb to help pay her mortgage. At first, Yahaira was intimidated by the thought of having travelers in her home. But since she started hosting in September 2015, she’s had an “awesome experience” and has enjoyed meeting guests from all over the world and taking them to her favorite pizza parlor. Many of Yahaira’s guests are medical personnel who stay with her since she is conveniently located near many hospitals that are helping to power the Bronx economy.15

Jorge: East New York, Brooklyn Jorge is retired and has lived in his home in East New York for 45 years. He is a proud New Yorker and an Airbnb Superhost, picking up travelers from the airport, learning the basic phrases of the country his guests are coming from, and showcasing his favorite places around the neighborhood. Guests tell him that without the accommodations he provides, they may not have been able to afford to visit New York at all. Jorge first found out about home sharing when his son’s friend came to New York from London and used Airbnb. Today, Jorge uses the supplemental income from sharing his home to pay for insurance and other bills.

Junior: Bushwick, Brooklyn Junior is a veteran, husband, and father. A few months ago, his father passed away and his mother began to struggle to pay the bills.

15

See William C. Dudley, “Fostering Economic Growth in the Bronx,” May 2015; Thomas DiNapoli, “An Economic Snapshot of The Bronx,” July 2013; According to the New York State Comptroller, the healthcare sector accounted for the largest share of job gains between 2007-2012 and now employs more people in The Bronx than any other industry.

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To help his mother make ends meet, he decided to move in and at first relied on odd jobs and contract work to take care of four generations of his family. When he first considered home sharing, his mother was skeptical, but they soon started hosting people from all over the world on Airbnb. Today, home sharing continues to help Junior’s family pay the bills and stay in their family home.

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DETAILED ANALYSIS Airbnb Activity in HUDRAs is Growing Rapidly The number of listings in HUDRAs has risen nearly 70 percent between the year ending April 1, 2015 (3,778 listings) and the year ending July 1, 2016 (6,402 listings). This growth had led to a commensurate rise in host earnings. As the chart below shows, host earnings in HUDRAs grew over 80 percent between the year ending April 1, 2015 ($21.5 million) and the year ending July 1, 2016 ($39 million).

Figure 2: Growth in Airbnb Listing Income in HUDRAs

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Moreover, as shown below, the share of total listing income in NYC coming from HUDRAs has steadily increased, from 7.3 percent in the year ending April 1, 2015 to 9.2 percent in the year ending July 1, 2016. Figure 3: Growth in Share of Total NYC Listing Income From HUDRAs

Indeed, while Airbnb is booming across the five boroughs, its growth is even more pronounced in low-income communities. This trend highlights the demand for accommodation in these neighborhoods and the opportunity that home sharing provides to low-income residents in these communities. For more information on the growth of Airbnb activity in HUDRAs, see Table 4.

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Bringing Tourism Beyond Midtown Manhattan In 2015, the average Airbnb guest spent $208 per day during their stay, with 35 percent of that spending occurring in the neighborhood where they stayed. As a result, while limited data is available about the demographic profile of the Airbnb host community in HUDRAs,16 the fact that more travelers are staying in HUDRAs not only signals pent-up demand that can be satisfied by low-income hosts, but also means that these neighborhoods are securing a greater share of economic development that stems from tourism. In fact, nearly 90 percent of Airbnb listings—and 100 percent of HUDRAs—in New York City are outside the traditional hotel district of Midtown Manhattan, while 43 percent of citywide hotel space is in Midtown, including 47 percent of the hotels that opened between 2012-2016.17

Protecting Affordable Housing The vast majority of homes shared in HUDRAs are from hosts with only one listing—suggesting that the people who benefit most from home sharing are everyday New Yorkers, not commercial operators. In fact, the average percent of listings in HUDRAs owned by hosts with only one entire home listing in NYC is 85.5 percent—nearly equal to the citywide average of 86.2 percent. Airbnb has taken concrete steps to limit commercial operators. Between June 1, 2015 and June 1, 2016, the company removed over 2,200 listings that appeared to be shared by hosts with multiple listings that could impact long term housing availability.18

16

Certain demographic data is not available because prior surveys of Airbnb’s host community have been anonymous and because Airbnb does not require hosts or guests to report race, income, or other types of demographic data in order to be a host or guest on the platform. As a result, it is possible that the demographics of our HUDRA hosts may not fully reflect the overall population of these communities. That said, citywide survey data shows that 78 percent of Airbnb hosts in New York are low, moderate, or middle-income and that 72 percent of Airbnb hosts in New York use the money they earn sharing their space to stay in their homes. See: Airbnb, “Data on the Airbnb Community in NYC,” December 2015. 17

Airbnb, “One Host, One Home: New York City,” July 2016; NYC & Company, “Hotel Development in NYC: 2012-2017”; NYC & Company, “Hotel Development in NYC: 2014-2019”; Hotel space is based on New York City’s Primary Land Use Tax Lot Output (PLUTO) database. 18

“One Host, One Home: New York City.”

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Furthermore, HUDRAs have a greater share of shared/private rooms rather than entire homes than non-HUDRAs. In the median New York City HUDRA, two-thirds of listings are private/ shared spaces, compared to one-half of listings in the median non-HUDRA Census block group.

Detailed Statistics The medians in the tables below measure the center of the distributions of block group level variables and are calculated by identifying the value of a statistic (typically, a median) in each of the analyzed block groups and then finding the median of those figures across block groups. This also allows us to compare ACS data at the block group level (which is the highest level of detail available) to Airbnb data at the block group level. For example, the median listing income for a typical listing in the last year as a percent of median household income in HUDRA block groups is 13 percent. This figure is reached by calculating the median listing income of typical listings in each of the 578 HUDRA block groups, dividing by the median household income in each block group (as reported from the ACS), and then taking the median of those 578 values. The resulting reported number depicts the median block group with respect to this variable—in half of the HUDRAs, the median typical listing earns more than 13 percent of that block group’s median household income, and in half of the HUDRAs it earns less. Table 1 highlights median statistics across all New York City Census block groups. Of particular note is the high proportion of rental households in NYC (median of 63.1 percent) and the fact that many of these households are severely rent burdened, with more than 1 in 4 renters in the median block group paying more than 50 percent of their income on rent. Table 1: U.S. Census Block Group Statistics for New York City Description

Value

Number of block groups in New York City in the 2010 U.S. Census

6,481

Median population

1,214

Median percent college graduate

28.0%

Median household income

$53,235

Median number of housing units

482

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Median housing unit value

$503,100

Median housing costs as a percent of income for owners with a mortgage

31.5%

Median gross rent

$1,278

Median percent of housing units renter occupied

63.1%

Median percent of renters paying more than 50% of income on rent

27.7%

Data from the American Community Survey (2014 5-year)

Table 2 analyzes the same statistics as Table 1, comparing the value in HUDRAs and nonHUDRAs. In addition, Table 2 shows the aggregate amount of various types of public assistance. As detailed below, the median HUDRA has a population that is lower-income, less educated (half as many college graduates), and more rent burdened (one-third of renters spend more than half their income on rent) than the median non-HUDRA population. Table 2: HUDRA Statistics for New York City Description

Value for HUDRAs

Value for Non-HUDRAs

Total block groups

578

5,903

Percent of all block groups

8.9%

91.1%

Median population

1,260

1,210

Median percent college graduate

14.8%

29.6%

Median household income

$31,923

$55,951

Median number of housing units

492

480

Median housing unit value

$454,500

$508,750

Median housing costs as a percent of income for owners with a mortgage

36.1%

31.2%

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Median gross rent

$1,088

$1,306

Median percent of housing units renter occupied

79.2%

60.4%

Median percent of renters paying more than 50% of income on rent

33.0%

27.1%

Total Public Assistance Income in last 12 months

$78.9M

$446.2M

Total Supplemental Security Income (SSI) in last 12 months (as of survey)

$330.5M

$1.84B

Total Retirement Income in last 12 months (as of survey)

$337.2M

$8.71B

Total Social Security Income in last 12 months (as of survey)

$722.4M

$11.31B

Data from the American Community Survey (2014 5-year)

Table 3 compares Airbnb activity in HUDRAs and non-HUDRAs. While the median listing income for a typical listing in a HUDRA is 12 percent lower than non-HUDRAs, this income not only represents a greater share of median income in these neighborhoods (13 percent v. 8 percent for non-HUDRAs), but also accounts for a greater share of median rent. As a result, while the price of listings in HUDRAs tend to be lower than non-HUDRAs, home sharing provides a tremendous opportunity for low-income individuals to supplement their income and make ends meet. Table 3: Airbnb Activity in HUDRAs in New York City Description

Value for HUDRAs

Value for Non-HUDRAs

Listing income in last year

$39M

$384M

Percent of total listing income in last year

9.2%

90.8%

Number of listings with a trip in last year

6,402

51,650

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Number of hosts associated with the above listings with a trip in last year

4,693

38,729

Median listing income for a typical listing in last year

$4,554

$5,183

Median listing income for a typical listing in last year as percent of median household income

13%

8%

Median of a listing’s average nightly earnings for listings with a trip in last year

$64

$86

Median of a listing’s average nightly earnings for entire home listings with a trip in last year

$116

$133

Median of a listing’s average nightly earnings for private room listings with a trip in last year

$51

$63

Median entire home nights to pay off median home value

4,608

4,723

Median entire home nights to pay off one month’s median gross rent

9.8

11.3

Median entire home nights needed per year to increase median household income by 10%

32

51

Median private room nights needed per year to increase median household income by 10%

69

95

Median percent private/shared rooms

67%

50%

Average penetration

2.1%

1.4%

Median penetration

0.6%

0.3%

Average percent of listings owned by a host who has only one entire home/apt listing

85.5%

86.2%

Data from Airbnb and the American Community Survey (2014 5-year)

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Table 4 shows the growth in Airbnb activity in HUDRAs between April 1, 2014 and July 1, 2016. Each column represents one year of activity, starting three months apart (i.e. April 1, 2014, July 1, 2014, etc.). As noted above, Airbnb activity in HUDRAs is growing rapidly, even when compared to the city as a whole. Table 4: Airbnb Activity in HUDRAs in New York City Over Time Description

4/1/14 4/1/15

7/1/14 7/1/15

10/1/14 10/1/15

1/1/15 1/1/16

4/1/15 4/1/16

7/1/15 7/1/16

Listing income

$21.5M

$25M

$29.3M

$33M

$35M

$39M

Percent of total NYC listing income

7.3%

7.8%

8.3%

8.6%

8.7%

9.2%

Number of listings with a trip in last year

3,778

4,397

5,041

5,755

5,883

6,402

Median percent private/shared rooms

64%

67%

67%

67%

67%

67%

Average percent of 84.8% listings owned by a host who has only one entire home/apt listing

85.0%

85.1%

84.8%

85.0%

85.5%

Average penetration

1.4%

1.6%

1.9%

1.9%

2.1%

1.2%

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Figure 4: Airbnb Block Group Penetration in New York City19 Figure 4 looks at the penetration of Airbnb across the five boroughs. This statistic provides a glimpse of the share of all housing units that are engaged in Airbnb activity. This includes shared rooms, private rooms, and entire home listings with at least one booking in the past year. While the highest penetration (dark purple) is in block groups in the Lower East Side, Williamsburg, and Midtown Manhattan, the median penetration across all HUDRAs is actually higher than non-HUDRAs-- 0.6 percent to 0.3 percent.

19

Penetration above the 99th percentile is set to the value of the 99th percentile for better visualization. Penetration for block groups with less than 100 housing units is not reported.

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Figure 5: Airbnb HUDRA Penetration in New York City Figure 5 provides the same information as Figure 2, but for HUDRAs exclusively. Activity in HUDRAs is most pronounced in North-Central Brooklyn and Harlem. In comparison, HUDRAs in the South Bronx have relatively low Airbnb activity (see Figures 18-21, below).

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Figure 6: Airbnb Aggregate Listing Income in New York City by Census Block Group20 Figure 6 shows the total listing income in block groups across the five boroughs. As one would expect, this map mirrors the penetration map to a large degree. However, given differences in listing prices and duration by neighborhood, they are far from identical.

20

Listing income above the 99th percentile (roughly $1M) is set to the value of the 99th percentile for better visualization. Due to geospatial accuracy limitations, some listings on the perimeter of Central Park are assigned incorrectly to Central Park, explaining the high listing income in this block group.

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Figure 7: Airbnb Median Listing Income in New York City by Census Block Group21 Figure 7 shows the median listing income for block groups across the five boroughs. The median listing income in HUDRAs in NYC ($4,909) is lower than the median for nonHUDRAs citywide ($5,596). This is due to market forces, as well as the fact that HUDRAs have a higher median percentage of private/shared rooms (67 percent, compared to 50 percent in non-HUDRAs citywide), which on average have lower nightly earnings than entire space listings.

21

Median listing income above $20K is set to $20K for visualization. Note that for some block groups the median may be computed with a small number of typical listings.

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Figure 8: Percent of Listings in New York City Owned by Single-Listing Host, by Census Block Group22 Figure 8 shows the percentage of listings owned by hosts who manage only only listing, which is most often their permanent residence. In fact, survey data shows that 9 in 10 hosts list their permanent home. 23

22

A listing is said to be owned by a single-listing host if the host who owns it does not have two entire home listings with a trip in the last year in NYC. 23

“Data on the Airbnb Community in NYC.”

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Figure 9: Median of a Listing’s Average Nightly Earnings for Listings That Are an Entire Home/Apt, by Census Block Group24 Figure 9 shows the median of a listing’s average nightly earnings for entire home listings by block group. The map shows that listings in Midtown and Lower Manhattan command the highest prices, but that block groups well beyond the “Manhattan Core” are also bringing in significant income for hosts.



24

Nightly earnings above the $250 is set to $250 for better visualization.

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NEIGHBORHOOD SNAPSHOTS North-Central Brooklyn Figure 10: Airbnb HUDRA Penetration25 in North-Central Brooklyn Average Penetration: 3.5 percent; Median Penetration: 3.0 percent

25

Penetration above the 99th percentile is set to the value of the 99th percentile for better visualization. Penetration for block groups with less than 100 housing units is not reported.

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Figure 11: Airbnb HUDRA Aggregate Listing Income in North-Central Brooklyn Total listing income: $24M

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Figure 12: Airbnb HUDRA Median Listing Income in North-Central Brooklyn26 Median: $4,010

26

Median listing income above $20K set to $20K for visualization. Note that for some block groups the median may be computed with a small number of typical listings.

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Figure 13: Airbnb HUDRA Percent Private/Shared in North-Central Brooklyn Median Percentage Private/Shared: 69 percent

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Harlem/East Harlem Figure 14: Airbnb HUDRA Penetration27 in Harlem/East Harlem28 Average Penetration: ~4.3 percent; Median Penetration: ~4.7 percent

27

Penetration above the 99th percentile is set to the value of the 99th percentile for better visualization. Penetration for block groups with less than 100 housing units is not reported. 28

Defined as 110th Street to 155th Street, between the Hudson River and the Harlem/East River.

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Figure 15: Airbnb HUDRA Listing Income in Harlem/East Harlem Total Listing Income: $11.4M

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Figure 16: Airbnb HUDRA Median Listing Income in Harlem/East Harlem29 Median: $5,578

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Median listing income above $20K is set to $20K for visualization. Note that for some block groups the median may be computed with a small number of typical listings.

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Figure 17: Airbnb HUDRA Percent Private/Shared in Harlem/East Harlem Median Percentage Private/Shared: 55 percent

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The South Bronx Figure 18: Airbnb HUDRA Penetration30 in the South Bronx Average Penetration: 0.18 percent, Median Penetration: 0 percent

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Penetration above the 99th percentile is set to the value of the 99th percentile for better visualization. Penetration for block groups with less than 100 housing units is not reported.

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Figure 19: Airbnb HUDRA Listing Income in the South Bronx Total Listing Income: $470K

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Figure 20: Airbnb HUDRA Median Listing Income in South Bronx31 Median: $6,476

31

Median listing income above $20K sis et to $20K for visualization. Note that for some block groups the median may be computed with a small number of typical listings.

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Figure 21: Airbnb HUDRA Percent Private/Shared in South Bronx Median Percentage Private/Shared: 100 percent (Average: 74 percent)

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