By Mike S Payton, Contributing Reporter
MIAMI BEACH, FLORIDA – A new study researched more than 350 cities across the country to determine where the most Airbnb properties are per capita. Despite Miami Beach’s efforts to curtail the short-term rental market, the city ranks No. 1, with more than 3,400 Airbnb listings per 50,000 people.
According to the study by the financial advisory firm IPX 1031, Florida is home to seven of the top ten cities with the most Airbnbs per capita. Kissimme, FL. comes in at No. 2. with Walt Disney World Resort and Universal Studios next door, Daytona Beach comes in at No. 4, while Miami, Fort Lauderdale, Orlando and Hollywood round out the top ten.
Collin Czarnecki, chief researcher for this analysis shares why Miami Beach is at the top of the list. “Miami Beach has a lot to offer visitors, which makes it an attractive vacation destination year-round. But we’re seeing a rise in the popularity in hotel alternatives across the nation, and a big reason is cost.”
“The average Airbnb rental in Miami Beach hovers around $150 per night, while hotels can be several hundred dollars a night,” says Czarnecki. “Visitors are oftentimes also looking for greater privacy and additional living space that can’t be found in a single hotel room.”
Adding, “From a homeowner’s perspective, there are now platforms like Airbnb, which allow homeowners to earn passive income from their properties while they’re out of town. For those reasons and many more, Miami Beach remains a highly attractive Airbnb destination.”
Along with looking at cities with the most Airbnbs, the study also analyzed which major metro cities were experiencing the most and least growth in terms of number of rental listings since 2017. For cities with a population of 500,000, Charlotte, NC, comes in at No. 1, which has seen a 120 percent increase in Airbnb listings since 2017.
Others are, Fresno, CA: 119.4 percent, Jacksonville, FL: 117.5 percent, Dallas, TX: 95.2 percent, Columbus, OH: 88.2 percent, Memphis, TN: 75.2 percent, Albuquerque, NM: 65.2 percent, Tucson, AZ: 57.0 percent, Indianapolis, IN: 56.0 percent and Detroit, MI: 54.9 percent.
While these cities have seen tremendous growth, other cities such as Chicago, Austin, Boston and Los Angeles have experienced limited growth. And in Washington D.C., listings have actually decreased. Some of these cities have been dealing with tighter regulations and restrictions on Airbnbs, which may be the reason for these stagnant numbers.
Miami Beach is in a court battle over Airbnb and short-term rental operations, and has struggled to strike a balance of interests for residents and the tourism industry. The city prohibits rentals of six months or less in most residential neighborhoods, but allows them in a few areas.
To enforce this the city has instituted the most expensive fines in the country for illegal short-term renting — $20,000 for the first violation and $40,000 for the second, and another $20,000 for each following violation.
Mayor Dan Gelber had previously explained that the fines are justified based on how lucrative the short-term rental market is for homeowners. The city had used lower fines previously and did not deter illegal short-term renting, he said.
“Our fines are high but on the other hand, the amount they’re getting is commensurate with that,” he stated. “There was a need for more substantial penalties as the city has an obligation to maintain the aesthetics, character and tranquility of our residential neighborhoods.”
Collin Czarnecki explained, “Some cities are trying to find ways to crack down on short-term rentals, but there is still a growing interest from both renters and owners, to pursue alternative accommodations. Out study found that many cities are still seeing tremendous growth year-over-year in the number of Airbnb listings since the platform launched.”