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Study: Airbnb pushing renters out of hot neighborhoods More than 20% of East Village apartments off the market, say housing advocates

Airbnb, valued at around $20 billion, with over one million listings in 34, 000 cities,

Chesky-East-Village

Airbnb, beloved by tourists and “hosts, ” is bad for everyone else, pushing rental apartments off the market in hot neighborhoods, a new study by housing advocates finds. The most popular neighborhood for Airbnb rentals, the East Village, saw 28 percent of rental units converted into illegal hotel rooms, according to the analysis by the New York Communities for Change and Real Affordability For All.

The 20 most popular neighborhoods as a whole lost about 10 percent of their units, the New York Daily News reported. The study’s authors relied on U.S. Census data as well as data culled from the company’s website…

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