Nashville among top 10 cities with the most expensive Airbnb rentals, new report says

NASHVILLE, Tenn. (WSMV) - When traveling and taking vacations throughout the country, having a nice place to stay is of the utmost importance; while hotels have been a staple for stays, other short-term rentals have risen in popularity.

A new report from the Chamber of Commerce has found the cities with the most expensive Airbnb rentals as the company has become a go-to option for short-term travel accommodations.

Nashville was ranked among the top 10 most expensive cities when it came to Airbnb rentals. Tennessee’s capital had an average daily rate of $299 for a rental with 771 listings per 100,000 residents, the report said.

Memphis was also ranked in the top 100 at No. 64, with an average daily rate of $169.

“Whether you’re planning a summer getaway, a business trip, or working remotely on a workcation, Airbnb has become a go-to option for short-term travel accommodations. And even though short-term rentals offer convenience, expenses for Airbnb rentals can quickly add up and bust your travel budget,” the report said.

Here’s a look at the top five cities with the most expensive Airbnb rentals:

#1. Oxnard, California

Avg. Daily Rate: $488
Avg. Rate for One Bedroom: $110
Avg. Rate for Two Bedroom: $273
Avg. Rate for Three Bedroom: $405
Listings Per 100,000: 95

#2. Scottsdale, Arizona

Avg. Daily Rate: $394
Avg. Rate for One Bedroom: $114
Avg. Rate for Two Bedroom: $151
Avg. Rate for Three Bedroom: $264
Listings Per 100,000: 1,370

#3. Austin, Texas

Avg. Daily Rate: $373
Avg. Rate for One Bedroom: $127
Avg. Rate for Two Bedroom: $203
Avg. Rate for Three Bedroom: $297
Listings Per 100,000: 606

#4. Las Vegas, Nevada

Avg. Daily Rate: $360
Avg. Rate for One Bedroom: $106
Avg. Rate for Two Bedroom: $187
Avg. Rate for Three Bedroom: $221
Listings Per 100,000: 801

#5. Honolulu, Hawaii

Avg. Daily Rate: $315
Avg. Rate for One Bedroom: $167
Avg. Rate for Two Bedroom: $346
Avg. Rate for Three Bedroom: $389
Listings Per 100,000: 940

“In order to find out, we analyzed data from more than 160,000 listings located within the largest cities across the country. Our analysis included the average daily rate for a rental in each city as well as the number of listings in each city per 100,000 residents,” the Chamber of Commerce said.