Summer has arrived, and so have the summer tourists. For visitors looking to stay within their budget while traveling to Austin, or those who are looking for a staycation in their home city, you might want to allocate a little more for lodging. A new study by business website ChamberofCommerce.org has revealed Austin has the third least affordable Airbnb prices in the country, and was the only Texas city to make the top 10.
For the last 12 months, the average rate for "all [Airbnb] property types" in the city was $373 per night. However, the study did mention a dramatic decline of nightly rates as of May 22 to $243. There are a total of 3,761 active listings around town, which means there are 606 Airbnbs per 100,000 Austinites.
Looking deeper into average rates, a one-bedroom listing will cost you about $127 per night, while a two-bedroom will set you back $203 a night. The study says the average nightly rate for a three-bedroom Airbnb is $297.
This isn't the first time Austin-area Airbnb prices have caught the eye of budget-conscious travelers. In April, a Forbes Advisor study discovered visitors pay an average surcharge of 33 percent for an Airbnb in the city. At the time of Forbes' study, Austin Airbnbs cost an average of $244 a night.
Overall, California dominated the top 10 in the Chamber of Commerce report with three cities total making the list, and Oxnard ranking ahead of Austin in first place.
The top 10 U.S. cities with the most expensive daily rates are:
- No. 1 – Oxnard, California
- No. 2 – Scottsdale, Arizona
- No. 3 – Austin, Texas
- No. 4 – Las Vegas, Nevada
- No. 5 – Honolulu, Hawaii
- No. 6 – Virginia Beach, Virginia
- No. 7 – Nashville, Tennessee
- No. 8 – San Diego, California
- No. 9 – Santa Clarita, California
- No. 10 – Miami, Florida
The next Texas city that appeared in the ranking after Austin was Houston (No. 27), with their average rate for any Airbnb type at $224. Over in San Antonio (No. 32), their average rates are even lower at $218 a night.
In a separate ranking of cities with the most Airbnb listings, Austin ranked No. 12. The report looked at over 160,000 Airbnb listings within the largest American cities, analyzing the average daily rate and the total number of listings per 100,000 city residents.