New Ulster County hosts earned over $7million last year

People flocked to Ulster County for getaways in 2021, and new Airbnb hosts there have surpassed other Hudson Valley counties in short-term rental income, according to a new Airbnb report. .

The county led the region in revenue from new Airbnb hosts last year, with Ulster homeowners who rented their homes for the first time in 2021 collectively earning more than $7 million. This represents a 133% increase over 2019 and represents a 6% share of the total new host market in New York State.

In the first six months of 2021, the Catskills and Hudson Valley region ranked among the top 10 most profitable areas for new hosts with just one listing, according to a previous report.

New Airbnb hosts in Greene County, a particularly popular ski and snowboard destination, earned more than $3.5 million last year, while new hosts in Columbia and Sullivan collectively earned more than $2. million dollars in every county. In Dutchess, where there are many hotels and where more and more cities are considering regulating short-term rentals, Revenue levels for new Airbnb hosts remained flat at $1.5 million.

Related: Saugerties host breaks down the economics of an Airbnb listing

Nationally, the new data shows that the typical Airbnb host’s income reached more than $13,800 in 2021, an 85% increase from 2019, with new hosts earning north of 1.8 billion in total last year, up 34% from 2019.

New York ranks fourth in the nation among the five highest-grossing states for new host revenue in 2021, with new Empire State hosts collectively earning about $115 million last year. Suffolk County, home of the Hamptons, is one of the largest short-term rental markets in the state and saw $17 million in new home revenue in 2021, nearly as much as the entire area of the Hudson Valley.

California leads the nation, with new hosts earning an estimated $270 million last year. Florida and Texas placed second and third respectively.

“This increase in revenue comes at a welcome time for our host community, as the cost of living — and associated anxieties — continue to rise,” Airbnb said in its March report.

Across the Hudson Valley, residents shared their struggle to cope with the rising cost of living. Some residents have started renting out their homes on a short-term basis to generate additional passive income. Kathy Corby of Saugerties, for example, started renting out her Saugerties property in 2021 to boost her retirement savings.

“When I bought the house, I made a deal with her – she had to pay for it herself,” Corby told The Times Union last summer. “I didn’t expect it to become a source of income for me. It’s a lot more than paying on your own — it makes me a lot of money, so that’s great.

But many residents and city officials say short-term rentals are partly to blame for rising housing costs. After Woodstock in July approved a moratorium on new applications from landlords looking to rent their homes for short periods, City Supervisor Bill McKenna said, “I don’t think short-term rentals are the total problem. But I believe it exacerbates a problem we’ve had for a long time in Woodstock – it’s taking affordable rental housing off the market.

In the Hudson Valley, an increase in bookings on Airbnb and VRBO is accompanied by a 9% year-over-year increase in short-term rental inventory in 2021, according to data from marketplace from StayMarquis, a full-service vacation rental company. Today, there are nearly 8,000 vacation properties available in 10 Hudson Valley counties.

For more information on real estate in the Hudson Valley



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