Overnight accommodation costs in New York 2019-2020, by month

The average cost for overnight accommodation in New York was 358 U.S. dollars in December 2020, twice as much as the previous month's overnight night cost of 178 U.S. dollars. The past two years have seen a month-over-month decrease in the costs for overnight accommodation in the Big Apple.  

 The sharing economy 

While it is possible to spend thousands of dollars per day for overnight accommodation in New York, there is also the possibility to save some cash by staying in more budget-friendly lodging. One example of this is booking accommodation via privately owned rental and sharing websites, such as Airbnb. In 2018, Airbnb was estimated to generate over 800 million U.S. dollars from accommodation in New York City. Given the massive growth of the company since its conception it may come as no surprise that there was a total of more than 188 thousand Airbnb rentals in New York alone in 2018.  
 

 How much money do international visitors to New York spend? 

New York is a hotspot to international and U.S. visitors alike. When it comes to international tourism, visitors tend to spend a sizeable amount on their trips. In 2018, international visitor spending in New York reached more than 16 billion U.S. dollars. Comparatively international visitor spending in Los Angeles, California amounted to a little over eight billion U.S. dollars in 2018.