What's the most expensive city to rent an Airbnb in?
Airbnb is a handy hotel alternative for travellers looking to save some cash by renting someone else’s home. However, some cities offer more bang for your buck than others. To highlight the varying costs worldwide, Bloomberg released its annual index of Airbnb rental costs. Six of its top 20 entries are in the US... can you guess which city came in first place?
Miami topped the list where an average stay in the shiny and sunkissed, art-deco paradise will set you back $205 per night, followed by Boston at $195 per night. Starry-eyed Los Angeles came in sixth place with an average cost of $180, while New York, San Francisco and Washington DC also made the list.
Iceland is one of the world’s most expensive destinations so it’s no surprise that Reykjavik was placed third at $194 per night. And five of the top most expensive cities for Airbnb rentals this year are in the Middle East, with Tel Aviv coming in fourth place at $188 per night and Dubai, Jerusalem, Riyadh and Kuwait City were also listed.
The top 20 includes:
1 - Miami, Florida, USA ($205)
2 - Boston, Massachusetts, USA ($195)
3 - Reykjavik, Iceland ($194)
4 - Tel Aviv, Israel ($188)
5 - Dubai, UAE ($185)
6 - Los Angeles, California, USA ($180)
7 - Amsterdam, Netherlands ($178)
8 - San Francisco, California, USA ($178)
9 - Jerusalem, Israel ($175)
10 - Sydney, Australia ($175)
11 - Riyadh, Saudi Arabia ($171)
12 - Edinburgh, Scotland ($166)
13 - New York City, USA ($159)
14 - Seattle, Washington, USA ($156)
15 - Kuwait City, Kuwait ($155)
16 - London, UK ($154) tied with Singapore ($154)
17 - Washington, DC, USA ($153)
18 - Dublin, Ireland ($152)
19 - Barcelona, Spain ($151)
So why are some cities more expensive than others? Well, there are a number of different factors at play. Three of the cities listed, Singapore, Tel Aviv and Sydney, are some of the top ten most expensive cities in the world to live so the high cost of Airbnb rentals in those cities reflects the average living cost. You also need to consider the difference in holiday rental markets across cities. Bloomberg points out that Dubai charges high rates to compete with the pricey cost of accommodation in the city's four and five-star hotels, while some cities just have more luxurious types of accommodation on offer than others.
It's worth noting that these are just average costs and budget-friendly options can be found everywhere, they just require a bit of work. Travellers should also be aware that Bloomberg’s figures differ from Airbnb's internal figures. For example, in Tel Aviv the average rate is $87 per night, which is lower than the $188 daily rate that Bloomberg found. That’s because Airbnb only factors in rentals that are already booked, while Bloomberg looks at all advertised rates on site.