Beyond has analyzed thousands of short-term rental market data points to give you an up-to-date look at how specific markets are performing across the U.S. Accurate short-term rental market data is essential to know how you are performing against your local market so you can keep up with the competition and gain your fair share of the market.
These seven short-term rental markets are bringing in high revenues for property managers in 2022. If your revenues are coming in lower than your local market, it’s time to level up your revenue management strategy. The fastest way to do this is by utilizing a dynamic pricing platform to bolster bookings and revenue by as much as 40%.
Let’s take a look at these vacation rental markets below.
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1. Orlando, Florida
First up on our list is Orlando, FL. This central Florida city is a major tourist destination, home to more than a dozen theme parks. We’re seeing consistently high average yearly revenues, from just over $25k for 1-bedroom listings and all the way up to $86k for 5-bedroom listings.
2. South Florida Gulf Coast
With soft, white sand, turquoise blue water, and calm waves, the beaches on the Gulf Coast of Florida make for a great vacation destination. Beyond’s short-term rental market data is showing high average yearly revenues, with 5-bedroom listings earning over $200k on average.
3. Myrtle Beach, South Carolina
From celebrity-designed golf courses to numerous beaches and boardwalks, it’s easy to see why Myrtle Beach is such a popular destination with a thriving vacation rental market. Four-bedroom listings win in this area, earning almost $100k on average.
4. Aspen & Vail, Colorado
Moving away from the beach vacation destinations, let’s take a look at Aspen and Vail in Colorado. As two of the best ski towns in Colorado, Aspen and Vail are home to some of the best ski resorts in the U.S. and receive more than 300 inches in snowfall per year. Annual average revenues start around $100k for 1 and 2-bedroom listings and dramatically increase to about $450k for 5-bedroom listings.
5. Maui, Hawaii
Known as the Valley Isle, Maui is the second-largest Hawaiian island and a popular choice for travelers. Annual average revenues start around $100k for 1- and 2-bedroom rentals, and go all the way up to about $350k for 4-bedroom listings — the highest on our list.
6. North Carolina Mountains
Home to the Appalachian Trail and the Blue Ridge Parkway, North Carolina's Blue Ridge and the Smoky Mountains are a popular choice for vacationers. Beyond’s data shows that 5-bedroom listings bring in the highest average revenues at around $108k.
7. Palm Springs Desert, California
This Southern California desert draws travelers from all over due to its warm temperatures in the winter, numerous golf courses, relaxing resorts, and a lively downtown area. Annual revenues start at just under $50k for a 1-bedroom listing and rise all the way up to just over $230k for a 5-bedroom.
How does your vacation rental business compare to these markets? If you are missing out on your share of the market, it’s time up your game and utilize a dynamic pricing partner like Beyond — our partners have seen as much as a 40% increase in booking revenue by leveraging the tools on our platform.
Are you ready to level up your revenue management strategy? Let’s start working together.
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