NYC Airbnb Spreadsheet Analysis Project

Overview

Led a thorough project dedicated to analyzing essential metrics within NYC Airbnb data, employing strategic data-driven methods to prioritize vacation rental properties, project annual revenue, and offer insightful guidance for well-informed property investment decisions.

Key Contributions

Data Exploration and Cleaning

• Explored and scrutinized the NYC Airbnb dataset, identifying potential challenges in data cleansing.
• Documented the steps taken for data cleansing and maintained a version history for future reference.

Filtered Listings:

• Applied relevant filters to listings, considering factors such as rental activity, minimum night requirements, and recent reviews.
• Documented all removed rows to ensure transparency in the data cleansing process.

Prioritized Property Types:

• Utilized the number_of_reviews_ltm metric as a proxy for property rental frequency in estimating rental activity.
• Identified high-performing neighborhoods through standardized capitalization and removal of trailing spaces in the neighborhood column.

Property Size Preferences:

• Refined the bedrooms column, creating a new column (bedrooms_clean) to replace empty cells with zeros.
• Constructed a pivot table to identify the most popular number of bedrooms for vacation rentals.

Calculated Occupancy:

• Cleaned the calendar data, converting the available column into a numeric value (occupied).
• Created a new column (day_of_week) using the WEEKDAY() function for analyzing popular weekdays versus weekends.
• Developed a pivot table to compute the average occupancy rate for each listing.

Methodology:

• Utilized Google Sheets for data exploration, cleansing, and pivot table analysis.
• Applied data filtering and proxy metrics to inform strategic decision-making.
• Created advanced Google Sheets functions for effective data standardization and analysis.

Conclusion:

The project provided stakeholders with data-driven insights for property investment decisions. Through a strategic analysis of rental activity, prioritization of neighborhoods, and understanding property size preferences, the project offered valuable guidance for optimizing investment choices. Lower East Side one-bedroom listings proved to be the best choice for investment, ensuring a well-informed approach to property investment in the NYC Airbnb market for the client.

Live Demo

Link to Live Demo