Get Ready To Fork Over Some Cash for World Cup Airbnb Rentals in Boston
It’s a great time to be a homeowner near Boston. With the FIFA World Cup games set to take place at Gillette Stadium in Foxborough this summer, some Boston-area homeowners…
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It's a great time to be a homeowner near Boston. With the FIFA World Cup games set to take place at Gillette Stadium in Foxborough this summer, some Boston-area homeowners are turning to Airbnb for short-term property rentals.
A Deloitte study commissioned by Airbnb found that, of the approximately 164,000 tourists expected to visit Boston for the games, about 10% will stay in short-term rentals. This figure adds up to about 17,000 people, about 122,000 guest nights. That's enough to generate $25 million in accommodation revenue alone.
Analysts say the supply of short-term rentals in Greater Boston is tight in the near term, pushing rental prices higher, even as demand from World Cup visitors is spread across Boston and surrounding towns. AirDNA notes roughly 47% of Boston-area listings are occupied on World Cup match days.
Near Gillette Stadium, several listings are priced at premium rates, including a three-bedroom home advertised at $50,000 for the first week and a nearby Norfolk home listed around $48,000, according to a Boston Globe report.
Hosts are actively promoting World Cup stays. Airbnb recently conducted local workshops and offered $750 to first-time hosts. The company is projecting strong earnings in Boston this summer, averaging about $5,200 per host. It estimates approximately 17,000 visitors will stay in short-term rentals.
Some experts, however, warn that extreme listing prices for rentals may not hold, as actual rates depend on market conditions and guests' willingness to pay. Stadium-related factors, such as traffic and convenience, will also continue to influence premiums for nearby stays.
Not every community near the center of World Cup action will accommodate short-term rentals either. According to the Boston Globe, Norfolk, just west of Gillette, is operating with a full ban on short-term rentals. Foxborough officials, in the lead-up to the World Cup, have also told residents that short-term rentals are a zoning violation in that town, too.
