The Guide: Best Places To Invest On Airbnb 2023
How to Select The Best Short-Term Rental Locations Our Methodology
There are secret cities and neighborhoods around the United States that are the best places to invest for Airbnb due to the market metrics. These places are little known, except to local hosts and fit a certain pattern that we’ll teach you how to identify later on in this article.
Most people think about the overall number of travelers going to a specific city as a good metric to judge an investment location. This is a bad way to go about property market research for short-term rentals.
You want to open your short-term rental in an underserved market based upon supply metrics. Why? Well, there may not be 20,000 visitors per night arriving like Las Vegas, but if there’s 100 visitors per day, and there are 20 Airbnb properties, do the math.
You’ll be booked out every single night and make a ton of revenue without any competition. There are hundreds, if not, thousands of these Airbnb invesment locations which are in fact, the best places to invest for Airbnb and most people launch their listings in the same unimaginative cities such as: Atlanta, GA or Las Vegas, NV.
4 Things you Must Consider when Researching the Best Places to Invest on Airbnb
4 Things Every Host Must Consider when Researching the Best Places to Invest for Short-Term Rentals
Location: One of the most crucial aspects that will determine how well your investment performs is its location. Properties close to major tourist spots like theme parks, historical sites, and beaches are more likely to draw visitors and provide better profits.
Competition: Look at the level of competition in the market you wish to invest in. What number of ads are similar to this one? Are they crowded or do few people frequent them? You may locate areas with a high demand and little competition by looking at the competition. Check out Airdna and the StayVerified listings page to do your market research and talk to qualified and vetted short-term rental property managers to gain insights and advice.
Property Type: Consider the sort of property you wish to purchase. Do you prefer a condominium, a villa, or a single-family home? The home you choose should meet both your financial goals and investment objectives. Truth is that a 4-bedroom house will not bring you as much profit as 4 1BR studio apartments. More units in the vacation rental business means more money.
Amenities: If your home offers good facilities, it will stand out from the surrounding properties. Popular extras include free Wi-Fi, cable TV, outdoor areas, swimming pools, and hot tubs are great things to look at before house-hunting to give you an idea of what will set you apart.
Orlando, Florida: Due to its several well-known theme parks and other attractions, Orlando is a well-liked travel destination. It’s not Miami, but it’s a market we see a lot of growth in over supply of hosts. When you invest in real estate in Orlando, you can expect strong profits and consistent yearly bookings.
Nashville, Tennessee: Music aficionados go to Nashville a lot, and it’s an excellent spot to buy an Airbnb home. People visit the city all year round, and the tourist sector is expanding. You’re going to pick up a lot of mid-term rentals in this city. A bit less income, but less work and more consistency.
Palm Springs, California: Tourists from the United States and other nations like visiting Palm Springs. A excellent destination to invest, it offers a pleasant temperature, lovely landscape, and lots of things to do. Data shows the supply declining so now is a perfect time to pick up a great property here.
New Orleans, Louisiana: this city is a distinct and vibrant place with a rich cultural heritage. Tourists go there frequently, so investing in an Airbnb house in New Orleans may be quite profitable. Again, you can make a fortune certain parts of the year. If you like the rush of it, go for New Orleans as opposed to Nashville.
California’s San Diego: Family and beach lovers like visiting San Diego. Due to its pleasant climate and stunning beaches, it is an excellent location to purchase an Airbnb home. Not Los Angeles, but San Diego. The Zoo is amazing, and the supply is down well under the demand.
In the end, purchasing Airbnb homes strictly for investment will be a profitable venture in 2023 if you pick the correct location. It’s not the case that you can close your eyes and throw a dart at a map and be profitable in short-term rentals. There’s now strategy involved. By considering the location, competition, property type, amenities, and regulations, you can easily identify the best investment opportunities for Airbnb and short-term rentals in general.
Orlando, Nashville, Palm Springs, New Orleans, and San Diego are some of the top locations to purchase Airbnb accommodations according to real data from Airdna and StayVerified. If you don’t want to do all the work, definitely find some verified short-term rental management companies to help you. Find a good one under the “Search Listings” tab.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
