Learn if you live in the best cities for Airbnb and how to capitalize on that opportunity.
Is your hometown the perfect market for Airbnb? In recent years, renting spaces on Airbnb has emerged as a great alternative to traditional hotels. Hosts that have committed themselves to renting their homes on Airbnb have made some significant income in the process. Are you thinking about renting your home on Airbnb? If you’re lucky, you live in a location where your rental can bring in some great profits. With any real estate investment, the main success factor is location, location, location. This goes for Airbnb rentals too. If you’re living in one of the best cities for Airbnb rentals, you can make some good money from renting your home. You can even take it a step further and purchase an Airbnb investment property and watch your income soar. How does your location stack up? Keep reading to learn more!
Some of the Best Cities for Airbnb:
Palm Spring, CA
Not only does this destination boast warm and sunny temperatures year round, it also houses Coachella, one of the largest music festivals in the world. If you live in this area or are looking to purchase an investment property in this area, you’ve hit the Airbnb jackpot.
The great thing about Nashville is the fact that it is a great spot for group travel. Bachelorette and Bachelor parties love this place and are looking for large homes for long weekends. If you live in Nashville or are looking to invest in this area, maximizing your guest count while providing proximity to the city center is key.
Other destinations: Other, lesser known cities with tons to do year-round are also great places to have an Airbnb. As travel becomes less expensive people want to visit areas that are more remote or adventurous. If you live or invest in a place with great restaurants, fun stores, fantastic hiking in the summer and great skiing in the winter, you have the perfect recipe for a successful year-round Airbnb rental property.
Not so great cities:
Despite their size and general popularity, cities like Los Angeles, New York, and Chicago aren’t great locations for Airbnb investment. These cities had hundreds of renters sign up for Airbnb early and as a result, have caused some stiff competition. However, as these cities expand, renting a house in the suburbs is becoming a better option.
Pro tip: Ready to purchase your own Airbnb investment property? Learn more here!
If you do live in one of the best cities for Airbnb and end up renting your home, make sure to use Hosty to make the most of it! Hosty is the professional vacation rental management software that makes it easy to be an Airbnb pro! Use our innovative software to organize your listings, communicate with guests, and help make your Airbnb business a success. Ready to get started? Try us out today!