The 2026 World Cup football tournament in New York-New Jersey area kicked off at the MetLife Stadium on June 13th and will culminate with the final match on July 19th. With a large influx of international fans expected to attend the games, the local short-term rental market has quickly heated up. Some landlords have significantly raised rental prices during the matches, with individual properties seeing prices surge by over 1500% compared to regular rates, sparking concerns about price gouging.
According to a review by the New York Post of multiple popular short-term rental platforms, prices for accommodation ranging from one-bedroom apartments to luxury multi-bedroom villas have significantly increased in relation to the dates of the matches, with most seeing at least a doubling in prices.
In West New York, New Jersey, a six-bedroom house located approximately 15 minutes from the MetLife Stadium saw its rental price soar from $865 per night on non-match days to $14,185 on the night before the final, a staggering 1539% increase. Another four-bedroom house in the same area saw its price surge to $12,675 for the night of July 18th to 19th, a 774% jump from $1,450 just three days earlier.
Similar situations have also been observed in other cities in New Jersey. In Bayonne, a four-bedroom house with spa and wellness facilities commanded a nightly rental price of $11,100 during the World Cup final period, a 640% increase from around $1,500 post-event. In Morris Plains, a luxury estate that can accommodate 13 people saw its nightly price exceed $9,500 during the third week of June matches, compared to a regular price of around $3,500.
The short-term rental market in Manhattan has also experienced a boost. A luxury penthouse in Midtown Manhattan that can accommodate 10 people typically had a nightly rent of about $16,125 on regular days, but saw a rise to $24,737 on June 11th, the eve of the World Cup opening, representing an increase of over 50%.
Jonathan Miller, market director at real estate data company StreetMatrix, noted that many landlords are looking to profit from the World Cup opportunity, but the extent of price hikes is shocking. He described the current market situation not so much as welcoming visitors but rather as imposing exorbitant charges on them on a large scale.
A report released by short-term rental data analysis company AirDNA in April this year showed that during the World Cup in host cities, there was an average 66% increase in demand for short-term rentals. Additionally, New York City implemented stricter short-term rental regulations starting in 2023, limiting short-term rentals to 30 days or less, leading to decreased supply in the city. Industry experts believe that after the restrictions in New York City, there could be a significant shift in accommodation demand towards New Jersey and surrounding areas, further driving up prices in neighboring markets.
However, some experts warn that the pricing by some landlords may be overly optimistic, potentially resulting in vacant properties and forcing owners to lower prices in the end.