After 182 days of excitement, record-setting performances, heroics, heartbreak and blown calls (sorry New Orleans), the National Football League will crown a champion this Sunday at Super Bowl LIII. And while the country awaits to see who will be the winner on the field, the off-the-field winner was already announced way back in 2016: The city of Atlanta.
On Sunday, Mercedes-Benz Stadium in Atlanta, Georgia, will play host to the New England Patriots and Los Angeles Rams – and thousands of fans. While the impressive stadium can seat up to 75,000, the event itself is set to draw a million visitors in the week leading up to the game. This massive surge of visitors is what makes being the host city so desirable. Economists predict Atlanta will experience a conservative $185 million economic boost from Super Bowl LIII.
What does this mean for the local housing market?
It turns out the Super Bowl impacts both short-term rentals and the long-term housing sales. A survey by Realtor.com found leading up to the game, every city over the past five years experienced at least a 50% jump in the number of home listings near the stadium.
In the short term, local homeowners are taking advantage of the high demand by listing their homes on sites like Airbnb to earn supplemental income – and hotel prices have soared 146% for Super Bowl weekend. With rooms being reserved more than two years in advance, many of the city's hotels were at capacity half a year before the big game. Airbnb estimates that 23% of the Super Bowl weekend hosts will be listing on the platform for the first time.
The Big Picture
This event will have a massive impact on Atlanta and its residents. Check out some key numbers that will influence Super Bowl Sunday's festivities in ATL.
*Sources: Atlanta Convention & Visitors Bureau, Airbnb Inc., United States Census Bureau
Recent Posts
Insights from Company Leaders
The Agile Way to Innovation
Across all sectors in housing, we’re experiencing a technology transformation that is increasing velocity, reducing cost and improving quality. In fact, the pace of change throughout the mortgage process has been steadily accelerating, and that trajectory is likely to continue in years ahead.
EVP and Chief Information Officer
All Roads Lead Home at Optigo 2020
Although this year’s Optigo conference looked a little different, over 1,800 multifamily professionals joined the Freddie Mac team online to talk about the year we’ve had and look forward to what lies ahead.
EVP Head of Multifamily Business
Transcript: Freddie Mac CEO Discusses Third Quarter Financial and Business Results
Freddie Mac delivered a strong third quarter performance while supporting the housing market and families affected by the pandemic.
CEO
Our Work During COVID has Helped Families Keep their Homes
As the COVID-19 pandemic continues Freddie Mac has worked closely with our servicers to provide affected homeowners with options to stay in their homes.
SVP, Single-Family Portfolio Management