The short-term rental market in New York City in 2025 is largely unrecognizable when measured against the short-term rental scene in 2023. Whether that's a good or a bad thing depends on your perspective.
Banning short-term rentals in New York City didn't instantly lead to a wave of affordable housing, although the impact could potentially be different in smaller towns and cities.
New York City has tightened the rules for hotel operations. After having supported a campaign to rein in short-term rentals, the city's hotel sector has now gotten a taste of greater regulation of itself.
The New York City Council bill has ignited a fierce debate between supporters who claim it will improve safety and working conditions and opponents who argue it could cripple the hotel industry.