A new report from AirDNA reveals that small cities and rural areas across the US saw a 16% increase in short-term rental investment. The analysis considers factors like potential rental income, growth in revenue, occupancy rates, and hotel inventory. Peoria, Illinois, and Fairbanks, Alaska, emerged as top investment spots due to factors like strong industries, tourism, and temporary housing demand.
business in buzzy destinations like Destin, Florida or Vail, Colorado has a lot of appeal, but a new report says that some of the small and mid-sized cities across America might be the better place to start.released a report that ranks the best places to invest in short-term rentals and it found that small cities and rural areas saw a 16% increase in"You have to look at the geographic diversity," Jamie Lane, SVP of Analytics and Chief Economist at AirDNA, tells CNBC Make It.
"As you dig into these best places to invest, they tend to be areas without a lot of hotel inventory," Lane said."We've seen occupancies or average daily rates that short-term rentals can earn continue to increase as people look for new areas to travel to." The most successful people all have this mindset, Hollywood producer says: ‘The room is better because I'm in it'
Lane says Fairbanks has multiple demand drivers. In the summer, there's a lot of tourism, specifically geared toward the national parks in the state. There are also a lot of different industries in the city.
Real Estate SHORT-TERM RENTALS INVESTMENT CITIES RURAL AREAS PEORIA FAIRBANKS
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