6 Months After New York Banned Airbnb, New Jersey Is Doing Great

New York placed strict restrictions on short-term rentals last year. Rents still remain high, and some former hosts are frustrated. Meanwhile, Airbnb rentals in New Jersey are booming.

New Yorkers hoping for a break on rent after the city’s strict Airbnb restrictions might be disappointed. While tourists are being diverted to neighboring New Jersey, many residents who used Airbnb to supplement their income are feeling the pinch.

The law, passed last year, aimed to free up apartments for long-term renters by cracking down on short-term rentals. However, six months in, rents remain high and many former Airbnb hosts are struggling.

On the other hand, New Jersey cities like Jersey City and Hoboken have seen a boom in Airbnb demand. Tourists who can’t find rentals in New York are heading across the Hudson River for their stays.

Whether the law will have its intended effect of increasing housing affordability in the long term remains to be seen. For now, it seems New Yorkers are facing higher housing costs, while New Jersey is enjoying a surge in Airbnb rentals.

Share this article