/Analyzing-the-NYC-Airbnb-Market

The aim of this project is to utilize Python to understand the factors that influence Airbnb prices in New York City, or identifying patterns of all variables. Our analysis provides useful information for travelers and hosts in the city and some of the best insights for the Airbnb business.

Primary LanguageJupyter NotebookMIT LicenseMIT

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NYC Airbnb Market Analysis 🗽✨

Powered by Python 🐍 | Exploratory Data Analysis 📊

Table of Contents 📫

Introduction 🏡

Airbnb has transformed the global travel landscape by offering a unique platform for short-term stays. As one of the most sought-after destinations, New York City presents a vibrant Airbnb market. This analysis dives into the dataset to uncover actionable insights for travelers, hosts, and the Airbnb platform itself.

Using Python and EDA techniques, we decode pricing patterns, neighborhood preferences, and host behavior, offering a comprehensive view of NYC's Airbnb market.

Objective 🌐

To explore and understand the dynamics of Airbnb listings in NYC, focusing on factors such as pricing, room types, and neighborhood trends. The goal is to equip stakeholders with insights for decision-making, whether it's optimizing listings or planning stays.

Business Questions🤔

Which are the top 10 host IDs with the most listings?

What are the top 10 neighborhoods with the most property listings?

What are the top 10 host names with the most listings?

What are the property listing counts for each neighborhood group?

Which neighborhoods belong to each neighborhood group?

What types of rooms are available in the dataset?

Which room type contributes to the highest number of listings in NYC?

What is the average price of all listings?

How many hosts have more than one listing?

Which neighborhood has the highest average price?

How many listings are available throughout the year?

What is the average minimum number of nights required for a stay?

How many listings have never been reviewed?

What is the average price for each neighborhood group, and which neighborhood group has the highest average price?

What is the average number of listings per host?

How many listings per neighborhood group by room type?

What are the top 10 most reviewed listings?

What is the average price for listings with less than 100 days of availability?

Insights & Findings📊

✅ We analyzed the top 10 hosts to identify the one with the most property listings on Airbnb. Our findings show that Michael holds the top spot with 417 listings, making him the host with the highest number of properties. He is followed by David, who has the second-highest listings at 403. Additionally, our data reveals that 5,154 hosts have more than one listing on Airbnb.

✅ The data shows that only 1,295 listings were available year-round, indicating a limited number of consistently accessible properties. Additionally, the average number of listings per host is just one, suggesting that most hosts manage only a single property.

✅ The dataset includes five distinct neighborhood groups: Brooklyn, Manhattan, Queens, Staten Island, and the Bronx. Manhattan has the highest number of property listings on Airbnb, with 21,661 listings, while Staten Island has the fewest.

✅ Our dataset includes 221 unique neighborhoods, with Williamsburg standing out as the neighborhood with the most property listings, totaling 3,920 listings. It is followed by Bedford-Stuyvesant and Harlem, with 3,714 and 2,658 listings, respectively. Fort Wadsworth has the highest average price, at $800.

✅ The Airbnb NYC listings primarily consist of three room categories: Private room, Entire home/apt, and Shared room. Among these, the Entire home/apt has the highest number of listings, making it the most common room type, while the Shared room has the fewest listings. The average price for all listings is $152.72.

✅ According to the dataset, there are a total of 10,052 property listings on Airbnb that have not received a single review. This means that these listings have either not been booked by guests or, if they have been, no feedback has been provided by those who stayed. This lack of reviews could impact the visibility and attractiveness of these listings to potential guests, as reviews often play a significant role in helping users decide on accommodations.

✅On average, Airbnb listings in this dataset require a minimum stay of 7 nights. This indicates that, generally, hosts prefer longer bookings, possibly to reduce the frequency of turnover and related maintenance tasks.

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