The University of New Orleans and the Alliance for Neighborhood Prosperity have released findings in a survey that looks at the economic impact of the private home rental market in New Orleans.
The report showed that in 2013 approximately 100,000 visitors stayed in private home rentals in New Orleans generating a total economic impact of $174.8 million. The full study is available here.
The survey also showed that these visitors generated an estimated total of $10.8 million in tax revenue for state and local governments, with $6.1 million going to the State of Louisiana and $4.7 million going to local governments in the New Orleans area.
The majority of visitors who chose to rent a private home came to New Orleans in April (18.5 percent), February (13.5 percent) and October (12.3 percent).
Visitor spending also resulted in the creation or support of about 2,200 full and part-time jobs, which according to the report would result in $56.1 million in additional earnings for local residents.
The Alliance for Neighborhood Prosperity formed in February amid renewed discussions among business owners, residents, and city officials over how to regulate the growing number of short-term vacation rentals in the city. The organization commissioned the study with UNO’s Hospitality Research Center earlier this year.