Short-Term Rentals in the Capital Region: Where are they Concentrated?

Short-term rentals (STRs) have become an increasingly visible part of the housing market across the Capital Region. Platforms such as Airbnb and Vrbo provide homeowners and investors with opportunities to generate income from residential properties, but they have also prompted questions about housing availability, affordability, and neighborhood change.

Using AirDNA data on active short-term rental listings and housing unit estimates from the U.S. Census Bureau’s 2024 American Community Survey (ACS) 5-Year Estimates, this analysis examines the share of housing units currently operating as short-term rentals across municipalities in Albany, Rensselaer, Saratoga, and Schenectady counties.

Measuring STR Concentration

To better understand the relative prevalence of short-term rentals, active listings were compared against the total housing inventory within each municipality.

STR Share of Housing Stock

STR Share of Housing Stock = Active STR Listings / Total Housing Units

A municipality with 100 STR listings and 10,000 housing units would therefore have an STR concentration of 1.0%.

While larger municipalities often have the highest number of listings, this measure helps identify places where STR activity represents a more significant portion of the local housing stock.

1.0% of the Capital Region’s housing stock is actively used for STRs, below the national average.

Rural Communities Show Some of the Highest STR Concentrations

While Saratoga Springs and the surrounding communities clearly represent the center of the Capital Region’s short-term rental market, driven by attractions such as the Saratoga Race Course, Saratoga Performing Arts Center (SPAC), Saratoga Lake, and nearby outdoor recreation opportunities, the data reveal a second trend. Some of the highest concentrations of STR activity are found not in the region’s largest population centers, but in smaller rural communities with limited housing inventories.

In these municipalities, even a relatively modest number of listings can account for a significant share of the local housing stock, resulting in STR concentrations that rival or exceed those found in many larger communities. This suggests that short-term rentals may have a disproportionate influence on local housing markets in rural areas, where a comparatively small number of units operating as STRs can reduce the supply of housing available for year-round residents.

As communities across the Capital Region continue to evaluate the opportunities and challenges associated with short-term rentals, New York State has taken steps to improve oversight and transparency within the industry. In December 2024, Governor Kathy Hochul signed legislation creating the state’s first short-term rental registry system. The legislation was subsequently amended in February 2025 to establish the framework for county implementation, including provisions related to local registry administration, tax collection, and reporting requirements for short-term rental platforms. Counties now have the option to establish local registries that provide access to information such as rental locations, occupancy activity, guest counts, and tax collections, helping local governments better understand the relationship between short-term rentals and local housing markets.