Charlotte’s Airbnb market has doubled in the past year

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Charlotte’s Airbnb market is booming.

The number of Airbnb guests staying in Charlotte has more than doubled over the past year — to nearly 12,000 people as of April, the last month for which data was available.

Guest arrivals to entire-residence Airbnb rentals, via Airdna.co.

Guest arrivals to single room Airbnb rentals, via Airdna.co.

Supply is increasing to meet that demand.

The total number of active listings in Charlotte has doubled as well, to more than 1,600 in April.

 

Airbnb listings rentals in April, via Airdna.co.

The rapid increase in bookings has pushed down the average rental rate that hosts receive, but not by a ton.

The yellow bars are average rental rate. The purple line indicates number of bookings. Data from Airdna.co

All of this is according to data from Airdna.co, the top data company tracking Airbnb rentals.

[Agenda story: How much money can you make on Airbnb in Charlotte?]

Where are they coming from?

It appears that the majority of Airbnb travelers staying in Charlotte are coming from North Carolina — with in-town guests making up the largest percentage. The staycation market is real.

This matches up with overall hospitality industry data. The majority of hotel room stays are also from in-state travelers.

Charlotte Airbnbs also host a good number of travelers from Raleigh, and New York — presumably here on business.

Travelers in the past year. Data from Airdna.co

Airbnb travel still makes up a fraction of the overall $1 billion hospitality market in Charlotte.

The region’s hotels book around 10 million rooms each year, according to the Charlotte Regional Visitors Authority.

Across North Carolina, only 2 percent of overnight stays occurred in “shared economy” lodgings, including Airbnb, according to the state’s tourism bureau.

If this exponential growth increases, however, expect more pressure on the city to regulate Airbnb from the powerful hospitality industry.

In the meantime, though — it’s a good time to be an Airbnb traveler or host.

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Andrew Dunn
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Editor-in-Chief