Forget Nashville and Phoenix. These 10 watering holes are easy to get to, have fewer than 500 listings, and are growing destinations for travelers.
Analytics site AirDNA compiled a ranking of vacation-rental spots beyond "name brand" destinations.
The locations all have a growing demand for vacation rentals and fewer than 500 listings.
Niagara Falls, New York, took the top spot with Geneva, Ohio, following in second.
Don't forget about the little guys.
When it comes to finding the strongest locations for Airbnb and Vrbo hosts right now, some might look for sky-high revenues or destinations with the most room for income growth. But it's a cruel summer for short-term rental hosts, as many vacationers are seeking out lower nightly rates and last-minute bookings, putting pressure on hosts in busier markets.
These spots might not always grab headlines, but the report notes their rising demand from short-term renters, their flourishing host communities, and their accessible real-estate price points make them attractive locations to operate long-term as a host.
To compile the report, AirDNA looked only at locations with between 100 and 500 whole-home listings with between one and five bedrooms. These spots proved a "happy middle ground" of established destinations that are not yet "name-brand" vacation spots, AirDNA Director of Enterprise Marketing Dillon DuBois told Insider.
Each destination had at least 85% of all listings from last year still available — any larger exodus might indicate unhappy hosts. All locations that made the cut also experienced positive growth in bookings from 2022, bucking the trend of some nationwide hotspots struggling.
Locations were knocked out of the ranking if professional hosts, or those with more than 21 rentals, operated a majority of the area listings. AirDNA focused on spots that weren't dominated by "well-oiled machines,"DuBois said. It also excluded markets with strict regulations.
Then, a "bang for your buck" metric was applied: the yield. It's the annual revenue an average host stands to make, based on the area's booking numbers and daily rates, divided by the average home price. The higher a location's yield, the higher it ranked. AirDNA supplied all figures except for average home prices, which are from Zillow and used by AirDNA in its ranking.
In the end, the list highlights stable, overlooked spots in states including Wisconsin, Mississippi, Ohio, and beyond.
10. North Charleston, South Carolina
Average monthly occupancy over the past year: 57.9%
Average annual revenue over the past year: $54,147
Average home price according to Zillow: $291,601
Yield: 22.7%
9. State College, Pennsylvania
Average monthly occupancy over the past year: 54.1%
Average annual revenue over the past year: $83,128
Average home price according to Zillow: $381,554
Yield: 22.8%
8. Oneonta, New York
Average monthly occupancy over the past year: 60.6%
Average annual revenue over the past year: $43,364
Average home price according to Zillow: $200,432
Yield: 22.9%
7. Dayton, Ohio
Average monthly occupancy over the past year: 54.2%
Average annual revenue over the past year: $29,428
Average home price according to Zillow: $111,092
Yield: 23.4%
6. Waco, Texas
Average monthly occupancy over the past year: 56.3%
Average annual revenue over the past year: $40,892
Average home price according to Zillow: $220,133
Yield: 24%
5. Wisconsin Dells, Wisconsin
Average monthly occupancy over the past year: 55.1%
Average annual revenue over the past year: $58,968
Average home price according to Zillow: $253,005
Yield: 24.5%
4. Gulfport, Mississippi
Average monthly occupancy over the past year: 53.7%
Average annual revenue over the past year: $40,223
Average home price according to Zillow: $186,397
Yield: 25.6%
3. Biloxi, Mississippi
Average monthly occupancy over the past year: 61.2%
Average annual revenue over the past year: $41,990
Average home price according to Zillow: $219,775
Yield: 26.4%
2. Geneva, Ohio
Average monthly occupancy over the past year: 56.7%
Average annual revenue over the past year: $47,444
Average home price according to Zillow: $183,473
Yield: 29.1%
1. Niagara Falls, New York
Average monthly occupancy over the past year: 51.9%
Average annual revenue over the past year: $33,462
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