According to a Report from New York City's comptroller, Scott Stringer, Airbnb is causing Rent prices to increase significantly in Manhattan and Brooklyn (Warning: source may be paywalled: alternative source), where the majority of the company's rentals are concentrated. The New York Times reports: In Manhattan's Hell's Kitchen and Chelsea neighborhoods and the Midtown Business District, which accounted for about 11 percent of all Airbnb listings in New York City in 2016, average monthly rents increased by $398 between 2009 and 2016, of which $86, or 21.6 percent, was a result of Airbnb's presence, the report said. In Greenpoint and Williamsburg in Brooklyn, the study said, rents went up 18.6 percent in those years because of Airbnb listings. Airbnb makes it easy to rent apartments to tourists, taking units off the market for full-time residents, the report said. The report said that Airbnb's influence cost New Yorkers $616 million in additional rent in 2016 as a result of price pressures.

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