AirDNA has done a quick analysis of the two cities to see how supply of vacation rentals and the pricing of those units have been impacted by the conventions.
Airbnb in Cleveland
The median asking price for an entire home Airbnb rental during the Tuesday and Wednesday night of the Republican convention shoots up to $1,300 per night and four bedroom homes are asking $2,350 a night on average.
Airbnb listing growth is often driven by big events. Homeowners that have long pondered the idea of making some extra income renting their property are finally given the incentive to take pictures and about their property.
Listing growth explodes in the 6 months leading into the Republican Convention. There are currently 900 active Airbnb listings in Cleveland, 700 of them have been since the beginning of 2016. That is a 250% increase in the total number of active rentals that existed previously!
Airbnb in Philadelphia
Philadelphia is seeing similar Airbnb pricing trends for the Democratic Convention that is occurring the following week. Median available rental prices increase to $900 a night for all entire home rentals in the city limits.