To determine the best Airbnb city of 2024, Clever Real Estate partnered with short-term rental data provider Rabbu to crunch the numbers for the 50 biggest metro areas in the U.S.
ST. LOUIS, May 7, 2024 /PRNewswire/ — Tampa, Florida, is the best city to invest in short-term rentals, while San Jose, California, is the riskiest short-term rental market in America, according to a new study from Clever Real Estate, a St. Louis-based real estate company, in collaboration with Rabbu.com, a Charlotte-based short term rental investment platform.
The study analyzed metrics such as median home prices, occupancy rates, and changes in property values to rank Airbnb investment markets across the U.S.
Tampa stands out with a 71.6% property value increase over the past five years — 55% higher than the median city in the study. The metro area boasts 16,020 property listings, triple the median, a 44.8% Airbnb occupancy rate, and $52,705 average annual Airbnb revenue.
The top 10 cities to invest in short-term rentals are:
- Tampa, FL
- Orlando, FL
- Jacksonville, FL
- Boston, MA
- Miami, FL
- Buffalo, NY
- Columbus, OH
- Chicago, IL
- Providence, RI
- Kansas City, MO
Meanwhile, San Jose is the worst short-term rental city, with a median home sale price of $1,447,955, more than four times the average. San Jose has just 1,296 listed properties, a whopping 76% less than the median, leading to the lowest Rabbu return on investment score in the nation.
The 10 worst short-term rental markets are:
- San Jose, CA
- Birmingham, AL
- San Antonio, TX
- Houston, TX
- Sacramento, CA
- Raleigh, NC
- Riverside, CA
- San Francisco, CA
- Oklahoma City, OK
- Pittsburgh, PA
Additionally, Clever surveyed 1,000 Americans and found that 76% have a positive view of Airbnbs. About 60% say short-term rentals are nicer than hotels, and 67% say they’re more comfortable.
However, nearly all respondents (96%) saw downsides to short-term rentals, including misleading property descriptions, a lack of on-site help, and safety concerns.
Only 44% see Airbnbs as safer than hotels, a concern likely amplified by increasing crime rates.
Read the full report at: https://listwithclever.com/research/best-short-term-rental-markets
About Clever Real Estate
Clever Real Estate is a technology company that produces educational real estate content reaching over 10 million readers annually, and its nationwide agent matching service has a 5.0-star Trustpilot rating across 2,300+ customer reviews. Since launching in 2017, Clever has reached $8.5 billion in real estate sold, matched 100,000+ customers with realtors, and saved consumers over $160 million on commission fees. Clever’s network spans 19,000 agents across all 50 states.
About Rabbu
Rabbu is revolutionizing the short-term rental market by empowering investors with advanced, data-driven tools. Rabbu’s platform simplifies researching, buying, and selling short-term rentals, offering free market and property data to over 1 million users. In addition, Rabbu connects investors with a dedicated network of top-tier agents and lenders to help short-term rental investors reach their goals.
CONTACT:
Alyssa Evans
Clever Real Estate
[email protected]
315-690-1518
SOURCE Clever Real Estate
Originally published at https://www.prnewswire.com/news-releases/tampa-is-the-best-city-in-the-us-to-invest-in-short-term-rentals-302137840.html
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