Insight
The 2023 law has had a drastic and sustained negative impact on the short-term rental market in New York City.
NYC Short-Term Rentals Still Down 85% After 2023 Law
Summary
NYC short-term rentals remain significantly down, 85% below pre-2023 law levels. This indicates a drastic impact of recent regulations on the STR market in the city, affecting occupancy and potentially host income.
Key takeaway