More Remote Workers Are Turning To Vacation Rentals

Vacation rental demand is rising
The virtual workspace has contributed to the growth of the vacation rental market.

The increased popularity of the virtual workspace is arguably the biggest impact from the pandemic on the housing market. What started out as a temporary solution to the various lock downs from the early days of the pandemic, has now turned into a permanent workplace solution for many employers. Given the flexibility of the virtual workspace, many remote workers now have no borders on where they need to live. As a result, this has allowed many remote workers to explore new areas, even if that means traveling across the country.

The top AirBnB locations

With many Americans now working permanently from home, many have opted to live in vacation rentals through AirBnB. In doing so, this allows them to experience a new area either for a change of pace or to perhaps move to permanently someday. So what are the most popular destinations for these “digital nomads”? It appears as though both California and Florida seem to top the list. In fact, the top 5 cities for long-term stays through AirBnB in the first quarter of 2022 were:

  • #1. La Quinta, CA
  • #2. Delray Beach, FL
  • #3. Marco Island, FL
  • #4. Palm Springs, CA
  • #5. Indio, CA

Summary

The virtual workspace is here to stay. In fact, many organizations have quickly realized that their workforce may be happier and more productive working remotely. As an added bonus, this has resulted in cost savings for many companies since they are able to either downsize or completely eliminate their commercial workspace. South Florida real estate investors should certainly take note of these changes and the resulting demand for rental housing in our area. Whether it is short-term or long-term rental housing, we continue to see an increased demand. This is largely a result of the widely adopted virtual workspace. Are you ready to invest in income-producing properties? We can help. Contact Natasha at Live South Florida Realty, Inc. today! Are you looking for an additional tool to assist you with your real estate search? Download the free Florida Home Search App today!

By natasha moore

REALTOR® with Live South Florida Realty, Inc.

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