Today marks the first day of South by Southwest in Austin, which means tens of thousands of festival-goers are making their way into city limits.
For the past few years, festival attendance has continued to grow – some conferences draw in almost 100,000 attendees on their own. Majority of attendees are not Austin locals, which means they need housing accommodations for the duration of their stay.
Austin’s hotels can accommodate about 39,000 people, per KUT. Data dating back to 2010 shows that the average hotel room rate in Austin during the festival has increased year over year, making hotels a finite and increasingly expensive housing choice. As of 2016, short-term rentals were able to house about 34,000 additional people during SXSW at a lower price point. Having this additional housing option means the event is able to bring in even more attendees, generating more revenue for the city. In 2017, the event had an economic impact of over $348 million.
Based on TurnKey Vacation Rentals’ data, here’s a snapshot of what short-term rental locations, prices, and more look like during during SXSW: