It’s no surprise to locals and frequent travelers that Rented.Com has ranked Florida as the number one state for investors to own vacation rentals. With the abundance of sunshine, warm weather, a plethora of tourist attractions and theme parks, and also surrounded by water on three sides, investing in real estate seems only natural.
The new study by Rented.Com ranked the top 150 tourist cities by their ability to rent out a vacation home. In the 150 cities surveyed, Florida claimed first place with 19 spots based on their ability to provide rental returns to investors. Considerations for this list also included local regulations on short-term rentals, costs associated with buying and owning a home in each city and demand for vacation homes based on Rented.Com‘s data and also information from Airbnb.
California was ranked the second most profitable state with 13 cities making the list. Texas then came in third place with nine cities listed.
Andrew McConnell, CEO of Rented.Com, claimed, “The Southeast did extremely well this year, especially in non-luxury markets like the Smokey Mountains. There they have very friendly short-term rental regulations, it’s a four-season market and a five-hour drive from several major cities.”
When comparing Florida to urban destinations, Mike Seemuth stated, “Urban destinations fell off as a good investment. A year or two ago some had the highest ROI and that’s fallen dramatically.”
The top 5 cities listed were:
- Tennessee’s Pigeon Forge
- Gatlinburg, Tennessee
- Florida’s Panama City Beach
- Killington, Vermont
- Palm Coast, Florida
For reference, Rented.Com is the world’s largest platform connecting owners of vacation homes with short term managers.
Whether you’d like additional information on investing in real estate or simply purchasing a home of your own, contact us directly at BrandyCoffey941@gmail.com or 941.404.4737.