South Florida has always been known to be a popular vacation destination. In addition to many Americans vacationing in The Sunshine State, many international travelers have also enjoyed our slice of paradise. Interestingly, the demand for vacation rentals throughout our area has skyrocketed during recent years. Due to the pandemic, many Americans have opted to simply travel domestically and have therefore set their eyes on Florida. Of course, another significant factor increasing the vacation rental demand is the popularity of remote working environments. Recently, the site LawnStarter published their 2022 list of “Best Cities to Own a Vacation Rental”.
Best cities to own a vacation rental
| Overall Rank (1= Best) | City | Overall Score |
| 1. | Miami, FL | 67.18 |
| 2. | New York, NY | 66.98 |
| 3. | New Orleans, LA | 60.49 |
| 4. | Cincinnati, OH | 59.20 |
| 5. | Las Vegas, NV | 58.99 |
| 6. | Dayton, OH | 58.53 |
| 7. | Tampa, FL | 57.57 |
| 8. | Knoxville, TN | 57.56 |
| 9. | Orlando, FL | 57.29 |
| 10. | Augusta, GA | 57.18 |
Highest average daily short-term rental rate
- 1. Miami, FL
- 2. St. Louis, MO
- 3. Tampa, FL
- 4. Virginia Beach, VA
- 5. Las Vegas, NV
Summary
Short-term or vacation rentals may offer a higher return on your investment as compared to annual rentals. With this said, they will require more work due to the constant turnover. In addition, there are many factors that will dictate how profitable a vacation rental may be. As shown in this study, South Florida continues to lead the nation as a top rated vacation rental destination. Are you thinking about starting or adding to a real estate investment portfolio? We can help. Contact our real estate investment specialist to begin building wealth in real estate investing today! Also, be sure to download the free Florida Home Search App to gain access to the complete South Florida MLS right on your mobile device.
