|Listing Title||Room Type||Rooms||Airdna Score|
|1||Cozy Wicker Park, Chicago Apartment||Entire Place||1||100|
|2||Polk Street Coach House||Entire Place||2||93|
|3||Luxry home Sleep 10 2BR w-Fplace!||Entire Place||2||93|
|4||Master Suite-Private Exit/Entrance!||Private room||1||92|
|5||Cool & Unique Space In A Walkable And Fun Area||Private room||1||91|
|6||Lincoln Square Garden apartment||Entire Place||1||88|
|7||Comfy 3BD/1BA, garage spot included||Entire Place||3||87|
|8||Pearl in the Park||Entire Place||2||87|
|9||PRIVATE 1BD APT||Entire Place||1||86|
Of the properties listed, nearly 60% are considered “Entire Places”, 35% “Private Rooms”, and the remaining 5% as “Shared Rooms”. Further, “private rooms” and “1-room” apartments account for nearly half of all listed rentals. Historically, occupancy rates average 30-40% higher in the summer months than the winter. For example, occupancy rates peak at 71% in August and bottom out at 32% in January. Thus, RevPAR (Revenue per available room) peaks May through October, and drastically decreases November through June. In both cases, weekends charge a higher price of a few hundred dollars more compared to weeknights citywide. Tourists prefer a lakefront experience, causing a greater concentration of Airbnb listings to be in lakefront neighborhoods. Specifically, zip codes 60614, 60622, 60647, and 60657 are all home to over 300 listings each. In these areas and other neighborhoods of Chicago, the average price per private room is $70 while 1-bedroom listings average $148.
Chicago, like other cities, has implemented legislation regarding short-term vacation rentals. The city requires a “vacation rental” license for those hosting short-term guests. The city also requires registering with the city if the property meets bed and breakfast standards. In addition, Chicago imposes a 4.5% “Hotel Accommodations Tax” for the listing price, although in some cases Airbnb can reimburse. Overall, while Chicago may not the most profitable or easiest place to start up an Airbnb, there is money to be made and plenty of demand.