As the vacation rental market continues to thrive, property managers are constantly seeking new and exciting destinations to offer their guests an unforgettable experience. With the vast and diverse landscape of the United States, the opportunities for property managers to find prime vacation rental locations are endless. That’s why in 2023, property managers are faced with the challenge of selecting the best places to invest in vacation rentals, catering to the ever-evolving demands of travelers.
From stunning coastal getaways to vibrant urban retreats and serene mountain escapes, the US offers a multitude of options that can satisfy even the most discerning guests. In this article, we delve into the top vacation rental destinations for property managers to consider in 2023.
Vacation rental market in the US
The vacation rental market in the US has experienced remarkable growth and transformation in recent years. Driven by the rise of online platforms and changing travel preferences, short term rentals have become a popular alternative to traditional hotels. The market has become increasingly competitive, prompting property owners and managers to enhance their offerings and provide unique experiences to attract guests. With the vast size and diverse landscapes of the US, there is a wide range of options for vacation rentals, from beachfront cottages to luxurious city apartments and secluded mountain cabins. The market’s expansion shows no signs of slowing down, with travelers seeking personalized and immersive stays that cater to their individual preferences and desires. Property managers and investors continue to tap into this lucrative market, leveraging technology, data analytics, and strategic marketing to optimize occupancy rates and maximize rental income.
Range of offerings
Platforms like Airbnb and VRBO have revolutionized the way people book their stays, providing a wide array of accommodation choices in popular destinations.
Short-term apartment rentals
Short term apartment rentals in the US have become a popular accommodation option for travelers seeking flexibility, comfort, and affordability. Rental apartments offer travelers the convenience of a home-like setting with amenities such as kitchens and living spaces, making them an attractive alternative to hotels. Property owners and investors have recognized the potential for high occupancy rates and attractive returns, leading to a rise in the availability and popularity of short-term apartment rentals across the country.
Short-term house rentals
Short-term house rentals in the US have gained significant traction as an ideal choice for travelers seeking spacious and private accommodations. With the rise of online platforms like Airbnb and Vrbo, travelers now have access to an extensive range of houses in various locations across the country. Short-term house rentals offer the benefits of larger living spaces, multiple bedrooms, private yards, and other amenities that cater to families, groups, or those desiring more privacy. The popularity of short-term house rentals continues to grow, attracting property owners and investors looking to capitalize on the demand for unique and personalized stays.
What are the best places in the US for vacation rentals?
The US is a treasure trove of remarkable locations, each with its own charm and allure. As property managers, choosing the right place to invest in vacation rentals is crucial for maximizing returns. From idyllic coastal towns to bustling urban centers and serene mountain retreats, we’ll uncover the best places in the US that offer tremendous opportunities for property managers in the vacation rental market.
Explore the top destinations that promise success and profitability in the ever-growing short term vacation rental industry.
Tennessee
Tennessee offers a favorable market for short term vacation rentals. Occupancy rates remain high, averaging around 60-70% throughout the year, according to data from AirDNA. Costs per night vary depending on location and amenities, ranging from $100 to $300, as reported by VRBO and Airbnb. Key destinations like Nashville, Gatlinburg, and Pigeon Forge attract a steady flow of tourists.
Tennessee’s high occupancy rates, affordable costs per night, and popular tourist destinations make it an ideal location for property managers to install vacation rentals, ensuring a lucrative and consistent stream of income.
New York
New York State presents a compelling opportunity for short term rentals property managers. Here, the occupancy rates are strong, averaging around 70-80% throughout the year, and costs per night vary significantly, ranging from $100 to $500, depending on location and property type. Cities like New York City, the Finger Lakes, and the Adirondacks attract a significant number of tourists, and the diverse attractions and vibrant tourism industry in New York State ensure a steady demand for vacation rentals.
Georgia
The State of Georgia presents a promising opportunity for short term vacation rental property managers. Occupancy rates in popular areas like Atlanta and Savannah remain high, averaging around 70-80% throughout the year. Costs per night also vary based on location and amenities, ranging from $100 to $300.
Georgia offers high occupancy rates, a range of affordable costs per night, and diverse attractions, including coastal areas, mountains, and historic sites, make it an appealing destination for tourists, making it an attractive choice for property managers looking to install vacation rentals and capitalize on a steady flow of tourists.
West Virginia
West Virginia represents another favorable scenario of opportunities for property managers to install short term rentals. Occupancy rates remain strong, averaging around 50-70% throughout the year, and costs per night vary depending on location and amenities, ranging from $100 to $300.
West Virginia’s picturesque landscapes, including the Appalachian Mountains and outdoor recreational activities, make it an appealing destination. Cities like Charleston, the state capital, offer a mix of urban attractions and proximity to outdoor recreational areas. Morgantown also attracts a steady stream of visitors, including sports fans and outdoor enthusiasts; as well as Harpers Ferry, known for its historical significance and stunning natural beauty. These cities provide a range of attractions and amenities that make them desirable for vacation rentals.
North Carolina
North Carolina also offers a compelling market for property managers to install short term vacation rentals. Occupancy rates remain high as well, averaging around 60-70% throughout the year, according to data from AirDNA. Costs per night also vary depending on location and amenities, ranging from $100 to $300. North Carolina’s diverse attractions, including beautiful beaches, the Blue Ridge Mountains, and vibrant cities like Asheville and Charlotte, make it an appealing destination.
North Carolina presents a favorable environment for property managers to install vacation rentals. With its diverse attractions like beautiful beaches, scenic mountains, and vibrant cities, it appeals to a wide range of travelers. The state enjoys high occupancy rates, affordable costs per night, and a steady flow of tourists throughout the year, making it a lucrative market for property managers seeking a profitable vacation rental venture.
Maine
Maine offers enticing prospects for property managers looking to install short term vacation rentals. Occupancy rates in popular areas like Portland and Bar Harbor remain consistently high, averaging around 70-80% throughout the year, and costs per night vary based on location and property size, ranging from $100 to $400. Maine’s picturesque coastline, charming coastal towns, and outdoor activities like hiking and skiing make it a sought-after destination. Property managers can benefit from consistent demand and a variety of rental options, ensuring a profitable venture.
Pennsylvania
Pennsylvania presents an attractive opportunity for property managers to install short term vacation rentals. Occupancy rates in popular destinations like Philadelphia, Pittsburgh, and the Pocono Mountains remain strong, averaging around 60-70% throughout the year, and costs per night vary based on location and property size, with an average range of $100 to $300.
Pennsylvania offers diverse attractions, including historical landmarks like Independence Hall, natural wonders like the Fallingwater house, and outdoor activities such as hiking in the Appalachian Mountains. The state also hosts various events, such as the Philadelphia Flower Show and Oktoberfest celebrations.
Property managers can tap into the steady tourist flow, capitalize on the range of attractions, and benefit from a variety of rental options, making Pennsylvania an appealing choice for vacation rentals.
Missouri
Missouri offers a promising landscape for property managers for short term vacation rentals. Costs per night vary depending on location and amenities, ranging from $100 to $300, and occupancy rates in popular areas such as St. Louis, Kansas City, and Branson hover around 60-70% throughout the year, according to data from AirDNA.
Missouri boasts diverse attractions, including the iconic Gateway Arch, lively music scene in Kansas City, and the entertainment hub of Branson. The state also features outdoor activities like hiking, fishing, and boating in its many parks and lakes. This allows property managers to leverage the consistent tourist traffic, rely on the range of attractions, and cater to various budgets.
Texas
Texas offers a compelling landscape for property managers looking to build short term vacation rentals. Occupancy rates in popular areas such as Austin, Houston, and San Antonio are around 60-70% throughout the year, and costs per night vary based on location and property type, with an average range of $100 to $300.
Texas boasts a plethora of attractions, including vibrant cities, diverse landscapes, and cultural hotspots like the River Walk in San Antonio and the live music scene in Austin. The state also offers outdoor activities like hiking, fishing, and exploring its stunning national and state parks. All this makes Texas stand as a brilliant opportunity for property managers that can tap into the steady influx of tourists, cater to diverse interests, and benefit from the range of rental options.
How can Hostify’s software for property management help you with vacation rental properties in the US?
Hostify’s software for property management can greatly assist property owners and managers in effectively managing vacation rental properties in the US. With its comprehensive smart property management features and intuitive interface, Hostify streamlines various aspects of property management, including bookings, guest communication, and payment processing. The software also automates tasks such as calendar syncing, and channel management, saving valuable time and reducing the risk of double bookings. But these are just some of the wide variety of valuable features that Hostify can provide to the management of vacation rentals in the US – want to discover how all? Book your free demo now!
