Manhattan vs Ankara: The Global Airbnb Paradox – Where Is Living (or Staying) Most Affordable in 2024?
A deep-dive into why Manhattan's Airbnb is 18x pricier than Ankara's, and what this says about global city economics.
| City | Country | 2024 Avg. Airbnb Price (1 Night) | Min Wage (Monthly) | Cost of Living Index | GDP per Capita (USD) |
|---|---|---|---|---|---|
| Manhattan (NYC) | 🇺🇸 USA | $375 | $2,570 (NY State) | 100 (base) | $110,144 |
| Ankara | 🇹🇷 Turkey | $19 | $550 | 31 | $10,670 |
| Price Gap Ratio | 19.7x | (USD, exchange rates 2024-05) | |||
1. Policy Paradox: In 2024, NYC implemented severe short-term rental restrictions, cutting legal Airbnb options by over 70%. While designed to protect housing supply and local tenants, the resulting supply crunch sent nightly prices soaring beyond pre-pandemic peaks. Ankara, with looser rules, saw supply rise and prices fall.
2. Global vs Local Demand: Manhattan hosts a relentless wave of international demand (tourism, business, migration), amplified by post-pandemic travel booms. In contrast, Ankara's tourism is mostly domestic and seasonal, often bypassed for Istanbul or coastal cities—dampening nightly rates.
3. Market Structure & Purchasing Power: NYC's median rents and wages are among the world’s highest, with property scarcity and investment speculation inflating both long-term and short-term rates. Ankara combines modest income levels, low living costs, and a less financialized real estate market—producing some of the world’s lowest Airbnb prices for a national capital.
Regional Airbnb Cost Comparison: 2024 Major Cities
Asia
Bangkok: $28
Tokyo: $92
Bangkok remains a top budget option, while Tokyo’s policies push prices upward.
Europe
Lisbon: $75
London: $220
Lisbon (high tourism) still much cheaper than London, Paris, or Berlin.
Americas
Mexico City: $52
San Francisco: $290
North American urban Airbnbs are consistently the most expensive globally.
Africa / MENA
Cairo: $17
Dubai: $155
Cairo, like Ankara, leads in affordability; Dubai breaks the MENA price ceiling.
Airbnb Affordability by Local Purchasing Power
| City | 1 Airbnb Night as % of Local Minimum Wage | Avg. Days Min Wage Covers/Airbnb Month |
|---|---|---|
| Manhattan | 14.6% | < 7 days |
| Ankara | 3.5% | > 28 days |
| *Indicates Airbnb affordability gap for locally employed residents. NYC's disparity is among the world’s highest in 2024. | ||
5-Year Airbnb Price Trends & 2025 Outlook
| Year | Manhattan Avg. Night | Ankara Avg. Night | Global Major City Avg |
|---|---|---|---|
| 2020 | $220 | $28 | $93 |
| 2021 | $205 | $26 | $86 |
| 2022 | $278 | $21 | $110 |
| 2023 | $295 | $18 | $118 |
| 2024 | $375 | $19 | $129 |
| 2025* (proj.) | $390 | $21 | $135 |
*2025e projections based on May 2024 market surveys; NYC's price surge driven by policy, Ankara plateau expected.
Sources: AirDNA, Numbeo, OECD, local statistical agencies
Sources: AirDNA, Numbeo, OECD, local statistical agencies
Key Data & Sources (as of May 2024):
- AirDNA Global City STR Reports 2020-2024 - airdna.co
- Numbeo Cost of Living Index & City Rental Database - numbeo.com
- OECD Purchasing Power & Wage Data - OECD Statistics
- Statista Airbnb US/Europe 2023-24 - statista.com
- NYC Housing & Vacancy Survey - NYC.gov
- Turkish Statistical Institute (TÜİK) - Local data release 2024
What is the Airbnb price in your city?
How do local policies impact your housing or digital nomad costs?
Share your experience or city insights in the comments below!
How do local policies impact your housing or digital nomad costs?
Share your experience or city insights in the comments below!
Follow for more global price breakdowns: #DollarAbroad #EconomyInsights #CostOfLiving
Key Takeaways:
- NYC's Airbnb price is nearly 20x Ankara's—driven by regulatory crackdowns and supply shortages.
- Policy, local market dynamics, and global demand exert a greater influence than simple economic development or wage differences.
- The global city accommodation paradox is likely to widen with further regulation and tourism booms.
Curious where to live/travel next? Explore the numbers and let us know your thoughts below!