Over the past few years, you’ve undoubtedly noticed the growing popularity of Air Bnb. Not surprising.
According to the News and Observer, the number of people using Airbnb in North Carolina doubled between 2015 and 2016 and Raleigh ranks 3rd in the state for guests. Airbnb is only growing in popularity as the best way to find and rent a place to stay. And in 2016 generated $7.7 million in tax revenue for North Carolina and 778,000 guests across the state. But, not everyone is excited about the surge. Local bed and breakfast owners are reporting significant losses in business over the last two years. And other cities saw a decrease in affordable housing.
And as with anything that comes onto the scene, community members are wondering, "Will Airbnb cause my rent to go up?"
The short answer? Maybe. The longer answer? Read about new findings.