Are you looking for profitable locations to invest in vacation rentals? Here is Mashvisor’s analysis of AirDNA best places to invest in 2023.
The vacation rental industry went through many phases in the last three years. First came the pandemic, nearly bringing the world to its knees in 2020. Just as the industry was recovering in 2021, the inflation and astronomical cost of living in 2022 left many investors in limbo.
Table of Contents
- AirDNA’s Best Places to Invest in 2023
- AirDNA vs Mashvisor: Is Mashvisor Better Than AirDNA?
- How to Find the Top Markets for Vacation Rentals in Minutes
So, should you invest in vacation rentals this year or choose to be a fly on the wall? Many financial and investment experts believe 2023 will be a year of moderation.
Despite the continued increase in property prices nationwide, the growth rate is set to slow down in the year. Home values in some hot markets are expected to fall later in the year. It may present a perfect opportunity for prospective investors who want to take advantage of the down cycle. For the best chances of success, Mashvisor can help in your real estate investing journey.
In today’s analysis, we’ll take an in-depth look at the best places to invest in vacation rentals, according to AirDNA. We’ll also look at how you can find lucrative properties in the said top markets in minutes.
Related: 40 Best Places for Buying Investment Property in 2023
AirDNA’s Best Places to Invest in 2023
Let’s start by looking at AirDNA’s best places to invest in vacation rentals in 2023. While the list of cities is pulled from AirDNA, the data breakdown below is gathered from Mashvisor’s latest location data to help us run an in-depth analysis.
Fairbanks, Alaska
- Median Property Price: $366,230
- Average Price per Square Foot: $180
- Days on Market: 112
- Number of Vacation Rental Listings: 200
- Monthly Vacation Rental Income: $3,264
- Vacation Rental Cash on Cash Return: 5.82%
- Vacation Rental Cap Rate: 5.94%
- Vacation Rental Daily Rate: $152
- Vacation Rental Occupancy Rate: 56%
- Walk Score: 19
AirDNA ranks Fairbanks, Alaska, as the best place for vacation rental investment due to high rental demand.
The best cities for vacation rentals are places that receive a constant flow of visitors all year round. Many visitors flock to Fairbanks to experience the many national parks in the city, and the area’s natural beauty, such as the midnight sun and northern lights. Many visitors get to enjoy many outdoor activities, such as hiking, fishing, and hunting.
The number of tourist arrivals is reflected in Mashvisor’s data. With a vacation rental occupancy rate of 56%, you can expect to receive a good number of bookings throughout the year.
Besides, Fairbanks is a great stopover for travelers taking the Alaska highway or those visiting Alaska on a cruise.
Evansville, Indiana
- Median Property Price: $290,777
- Average Price per Square Foot: $145
- Days on Market: 111
- Number of Vacation Rental Listings: 143
- Monthly Vacation Rental Income: $2,812
- Vacation Rental Cash on Cash Return: 6.26%
- Vacation Rental Cap Rate: 6.41%
- Vacation Rental Daily Rate: $104
- Vacation Rental Occupancy Rate: 62%
- Walk Score: 65
Evansville, Indiana, is AirDNA’s second-best city for vacation rental investment in 2023. As you can see, the occupancy rate is high enough, meaning that your vacation rental will be booked for the most part of the year.
Many visitors come to Evansville due to its richness in history. Visitors get to enjoy the Evansville Museum of Art, History and Science, the Angel Mounds State Historic Site, and the Reitz Home Museum.
Rockford, Illinois
- Median Property Price: $174,088
- Average Price per Square Foot: $107
- Days on Market: 77
- Number of Vacation Rental Listings: 122
- Monthly Vacation Rental Income: $2,378
- Vacation Rental Cash on Cash Return: 6.46%
- Vacation Rental Cap Rate: 6.65%
- Vacation Rental Daily Rate: $95
- Vacation Rental Occupancy Rate: 56%
- Walk Score: 87
The Rockford Art Museum, Anderson Japanese Gardens, and the Burpee Museum of Natural History are all located in Rockford, Illinois. The attractions allow the city to experience an occupancy rate of 56%.
Compared to the other two cities, Rockford seems the cheapest, with a median property price of $174,088. The affordability makes it a great city for investors looking for a low-cost vacation rental investment with a good cash flow.
Springfield, Illinois
- Median Property Price: $231,395
- Average Price per Square Foot: $113
- Days on Market: 87
- Number of Vacation Rental Listings: 134
- Monthly Vacation Rental Income: $2,236
- Vacation Rental Cash on Cash Return: 5.86%
- Vacation Rental Cap Rate: 6.07%
- Vacation Rental Daily Rate: 98%
- Vacation Rental Occupancy Rate: 53%
- Walk Score: 46
Being the capital of Illinois state, Springfield is an excellent investment city for vacation rental investors who desire a location with fair property prices. The city’s average daily rate is relatively lower than many cities on the AirDNA list. Moreover, its occupancy rate allows you to earn a monthly vacation rental income of $2,236.
As a vacation rental owner in Springfield, you can expect to host guests who visit the Lincoln Home National Historic Site and the Abraham Lincoln Presidential Library and Museum. The Lincoln Tomb is another interesting attraction for visitors.
Williamstown, Kentucky
- Median Property Price: $321,440
- Average Price per Square Foot: $169
- Days on Market: 101
- Number of Vacation Rental Listings: 73
- Monthly Vacation Rental Income: $3,547
- Vacation Rental Cash on Cash Return: 7.14%
- Vacation Rental Cap Rate: 7.26%
- Vacation Rental Daily Rate: $166
- Vacation Rental Occupancy Rate: 58%
- Walk Score: 0
Williamstown, Kentucky is a small town that boasts Southern hospitality. The cash on cash return and cap rate metrics mean that it offers vacation rental investors an attractive return on investment.
The town is located near popular tourist destinations, such as Louisville and Lexington. It also home to several attractions, such as the Kentucky Gateway Museum Center and the General Butler State Resort Park.
Note that all vacation rental owners in Williamstown need to obtain a Conditional Use Permit. The application for the permit is discussed by a board that meets monthly to decide whether to approve or reject it.
You must also acquire a business license and a one-time vacation rental registration for $200.
New Haven, Connecticut
- Median Property Price: $415,334
- Average Price per Square Foot: $1,238
- Days on Market: 87
- Number of Vacation Rental Listings: 362
- Monthly Vacation Rental Income: $2,756
- Vacation Rental Cash on Cash Return: 2.45%
- Vacation Rental Cap Rate: 2.50%
- Vacation Rental Daily Rate: $163
- Vacation Rental Occupancy Rate: 55%
- Walk Score: 59
The number of vacation rental listings in New Haven, Connecticut, is sufficient to demonstrate that it is a prime location for vacation rentals. While the median property price is a bit on the higher side, you can see that there’s potential to earn up to $30,000 annually from your property.
Many visitors throng New Haven to experience the diverse food scene, including tasty pizza, beautiful parks, cultural centers, and museums. The city is also close to other popular tourist attractions.
Besides the attractions, the city is also an education hub, hosting Yale University. New Haven is simply a hotspot for all types of guests.
Mashvisor’s real estate heatmap showing New Haven CT
Ellsworth, Maine
- Median Property Price: $400,397
- Average Price per Square Foot: $255
- Days on Market: 114
- Number of Vacation Rental Listings: 133
- Monthly Vacation Rental Income: $3,132
- Vacation Rental Cash on Cash Return: 5.23%
- Vacation Rental Cap Rate: 5.32%
- Vacation Rental Daily Rate: $194
- Vacation Rental Occupancy Rate: 50%
- Walk Score: 59
Ellsworth, Maine’s main attraction is the Acadia National Park. Many guests visiting the park look for accommodation in the town due to its various amenities. They include restaurants, grocery stores, and shopping outlets.
The city also benefits from expanded seasonality, with the tourism peak season extending from May to the end of October.
Cheboygan, Michigan
- Median Property Price: $521,746
- Average Price per Square Foot: $242
- Days on Market:
- Number of Vacation Rental Listings: 85
- Monthly Vacation Rental Income: $2,728
- Vacation Rental Cash on Cash Return: 5.11%
- Vacation Rental Cap Rate: 5.24%
- Vacation Rental Daily Rate: $203
- Vacation Rental Occupancy Rate: 52%
- Walk Score: 69
Cheboygan, Michigan is located on the shores of Lake Huron. It makes the city perfect for vacation rental investors who wish to host guests looking for the true Northern Michigan experience.
While the median property price is slightly high, the monthly vacation rental income and occupancy rates are quite reasonable.
Most visitors to Cheboygan come to enjoy outdoor activities, such as fishing on Lake Huron and camping in the Straits State Park. There are also other cultural and community attractions, such as the Cheboygan County Historical Society and the Cheboygan Opera House.
Montgomery, Alabama
- Median Property Price: $309,022
- Average Price per Square Foot: $130
- Days on Market: 84
- Number of Vacation Rental Listings: 203
- Monthly Vacation Rental Income: $2,127
- Vacation Rental Cash on Cash Return: 5.03%
- Vacation Rental Cap Rate: 5.16%
- Vacation Rental Daily Rate: $114
- Vacation Rental Occupancy Rate: 57%
- Walk Score: 53
Montgomery is located in the heart of Alabama and is known for its civil rights history, Southern hospitality, and vibrant cultural heritage. The city secured a place in the best places to invest in vacation rentals due to the higher vacation rental cash on cash returns and cap rates.
Guests can enjoy the city’s rich culture and history at sites such as Dexter Avenue King Memorial Baptist Church, and Rosa Parks Museum. They can also visit the Alabama State Capitol and the Montgomery Museum of Fine Arts.
Outdoor enthusiasts can also go to the Botanical Gardens and the Montgomery Zoo. The city is also located close to other destinations, such as Selma and Birmingham, making it perfect for road trips.
Two Harbors, Minnesota
- Median Property Price: $306,970
- Average Price per Square Foot: $243
- Days on Market: N/A
- Number of Vacation Rental Listings: 99
- Monthly Vacation Rental Income: $3,034
- Vacation Rental Cash on Cash Return: 5.34%
- Vacation Rental Cap Rate: 5.44%
- Vacation Rental Daily Rate: $231
- Vacation Rental Occupancy Rate: 54%
- Walk Score: 52
Set on the shores of Lake Superior, Two Harbors experiences a high demand from guests looking for an unforgettable Northwoods of Minnesota experience.
Guests are drawn to the picturesque beauty of the Lake Superior shores, Superior National Forest, Superior Hiking Trail, and Gooseberry Falls State Park. In addition, there are many outdoor activities for visitors, such as boating, fishing, swimming, rock climbing, and golfing.
Its proximity to other tourist destinations in Minnesota, such as Grand Marais and Duluth, makes it an ideal destination for vacation rental investors.
Be sure to review the vacation rental ordinances in Two Harbors since the municipality limits the issuance of vacation rental permits. Zoning laws also restrict such rentals in two commercial zoning districts.
Gainesville, Florida
- Median Property Price: $365,730
- Average Price per Square Foot: $222
- Days on Market: 97
- Number of Vacation Rental Listings: 463
- Monthly Vacation Rental Income: $2,515
- Vacation Rental Cash on Cash Return: 3.68%
- Vacation Rental Cap Rate: 3.76%
- Vacation Rental Daily Rate: $167
- Vacation Rental Occupancy Rate: 48%
- Walk Score: 42
Florida boasts all-year-round warm weather, making it one of the best hotspots for tourists looking to vacation at any time of the year. Consequently, Gainesville is one of the best places to invest in a vacation rental in Florida.
As the home to the University of Florida, this city brings about the cultural spirit of a college town. It also gives visitors access to seven Florida state parks.
According to Gainesville data from Mashvisor, the city faces stiff competition. It is probably why the return on investment metrics are a bit lower compared to other cities in the AirDNA list.
Bardstown, Kentucky
- Median Property Price: $363,158
- Average Price per Square Foot: $186
- Days on Market: 142
- Number of Vacation Rental Listings: 45
- Monthly Vacation Rental Income: $3,489
- Vacation Rental Cash on Cash Return: 6.74%
- Vacation Rental Cap Rate: 6.85%
- Vacation Rental Daily Rate: $174
- Vacation Rental Occupancy Rate: 57%
- Walk Score: 5
Bardstown is a perfect blend of Kentucky culture, history, and nature. Visitors love exploring the diverse outdoor activities and experiencing its Bourbon heritage. Others also enjoy exploring historical landmarks and sites.
As you can see from Mashvisor’s Airbnb data, the monthly vacation rental income is relatively high, as well as the return on investment metrics. The occupancy rate also means that you’ll experience consistent bookings for the most part of the year.
Note that if you desire to acquire a vacation rental in an agricultural and residential zoning district, you must acquire a Conditional Use Permit (CUP). The permit is obtained from the relevant Board of Adjustment (BoA). You must also get a business license.
Be sure to familiarize yourself with the vacation rental laws and regulations because of the city’s existing limitations on such properties. For example, vacation rentals can’t be within 400 feet of each other.
South Bend, Indiana
- Median Property Price: $247,315
- Average Price per Square Foot: $148
- Days on Market: 76
- Number of Vacation Rental Listings: 507
- Monthly Vacation Rental Income: $2,042
- Vacation Rental Cash on Cash Return: 5.00%
- Vacation Rental Cap Rate: 5.14%
- Vacation Rental Daily Rate: $331
- Vacation Rental Occupancy Rate: 33%
- Walk Score: 80
Southbend, Indiana, boasts several cultural attractions, such as the Studebaker National Museum and the University of Notre Dame. Visitors also engage in outdoor activities, such as swimming in the St. Joseph River.
While AirDNA ranks Southbend as a top location, Mashvisor holds a different view. The only concern is the vacation rental occupancy rate. With a relatively low rate of 33%, there’s no guarantee that you’ll receive enough bookings throughout the year.
Kalamazoo, Michigan
- Median Property Price: $383,689
- Average Price per Square Foot: $190
- Days on Market: 82
- Number of Vacation Rental Listings: 126
- Monthly Vacation Rental Income: $2,502
- Vacation Rental Cash on Cash Return: 4.05%
- Vacation Rental Cap Rate: 4.14%
- Vacation Rental Daily Rate: $130
- Vacation Rental Occupancy Rate: 62%
- Walk Score: 44
Kalamazoo in Southern Michigan is a prime place for vacation rental investments. Visitors are attracted to its diverse food and drink scene and the delightful downtown area. The city also neighbors popular destinations, such as Lake Michigan.
Your guests can participate in outdoor activities at the Kalamazoo Nature Center and explore the culture and arts scene. They can also learn about the city’s heritage and history at the Kalamazoo Institute of Arts.
Note that Kalamazoo’s zoning law dictates where to own a vacation rental within the city. There’s also a rental registration program to ensure that all vacation rentals meet health standards.
North Charleston, South Carolina
- Median Property Price: $371,427
- Average Price per Square Foot: $551
- Days on Market: 79
- Number of Vacation Rental Listings: 522
- Monthly Vacation Rental Income: $2,729
- Vacation Rental Cash on Cash Return: 4.57%
- Vacation Rental Cap Rate: 4.64%
- Vacation Rental Daily Rate: $183
- Vacation Rental Occupancy Rate: 48%
- Walk Score: 77
North Charleston is known for its role in the Civil War and the American Revolution. It also hosts the Charleston International Airport, making it convenient for both local and international visitors.
Tourist attractions in the city include outdoor recreational activities, such as the North Charleston Wannamaker County Park. Visitors can also participate in various festivals, such as the Lowcountry Cajun Festival and the North Charleston Arts Festival.
While there no zoning laws for vacation rentals in North Charleston, there’s a cap on the maximum number of allowed. You can only host up to eight guests, including children.
Logan, Ohio
- Median Property Price: $442,549
- Average Price per Square Foot: $630
- Days on Market: 112
- Number of Vacation Rental Listings: 360
- Monthly Vacation Rental Income: $2,839
- Vacation Rental Cash on Cash Return: 5.00%
- Vacation Rental Cap Rate: 5.11%
- Vacation Rental Daily Rate: $253
- Vacation Rental Occupancy Rate: 48%
- Walk Score: 62
Logan, Ohio is mainly known for its outdoor recreational activities. The Hocking Hills region, Old Man’s Cave, Rock House, and Ash Cave are the city’s leading tourist attractions. You can participate in diverse activities, including fishing, hiking, rock climbing, camping, and more.
The city’s zoning laws limit vacation rentals to R-2 and R-2-B districts. Besides, you also need to obtain a Conditional Use Permit, which involves a public hearing in front of a Board of Appeal.
If the board approves, you’ll receive a Zoning Permit. You’ll also be required to meet a particular set of standards to get a City Zoning Certificate, allowing you to operate your vacation rental.
Augusta, Georgia
- Median Property Price: $261,482
- Average Price per Square Foot: $173
- Days on Market: 118
- Number of Vacation Rental Listings: 577
- Monthly Vacation Rental Income: $1,604
- Vacation Rental Cash on Cash Return: 3.02%
- Vacation Rental Cap Rate: 3.10%
- Vacation Rental Daily Rate: $142
- Vacation Rental Occupancy Rate: 38%
- Walk Score: 28
Augusta, Georgia’s main attraction is the Masters’ Golf Tournament held yearly at the Augusta National Golf Club. In addition, there are many other attractions in the city, such as the Augusta Canal National Heritage Area, Phinizy Swamp Nature Park, and the Augusta Heritage Festival.
While the median property price in Augusta is relatively affordable, the vacation rental occupancy rate doesn’t guarantee sufficient bookings during the year.
Akron, Ohio
- Median Property Price: $175,645
- Average Price per Square Foot: $119
- Days on Market: 63
- Number of Vacation Rental Listings: 142
- Monthly Vacation Rental Income: $1,723
- Vacation Rental Cash on Cash Return: 5.31%
- Vacation Rental Cap Rate: 5.52%
- Vacation Rental Daily Rate: $102
- Vacation Rental Occupancy Rate: 52%
- Walk Score: 45
Akron, Ohio’s attractions include the Stan Hywet Hills & Gardens, the Cuyahoga Valley National Park, and the Akron Art Museum. The city also offers visitors a myriad of outdoor activities, such as golfing, fishing, biking, hiking, and many festivals and events.
Note that in December 2022, the city was looking at possible vacation rental laws and regulations. One of the laws will require an annual registration of $250. The good thing is that there’s no ordinance regarding zoning limitations.
Harrisburg, Pennsylvania
- Median Property Price: $286,168
- Average Price per Square Foot: $265
- Days on Market: 64
- Number of Vacation Rental Listings: 137
- Monthly Vacation Rental Income: $2,127
- Vacation Rental Cash on Cash Return: 4.12%
- Vacation Rental Cap Rate: 4.23%
- Vacation Rental Daily Rate: $131
- Vacation Rental Occupancy Rate: 57%
- Walk Score: 52
Harrisburg is the capital of the State of Pennsylvania. Located along the Susquehanna River, it offers a range of historical landmarks, such as the National Civil War Museum and the State Capitol Building. Your guests might want to visit the city to see its architectural beauty and experience its rich history.
In addition, the city neighbors other tourist destinations like Gettysburg and Hershey, making it a great place for visitors to explore.
While Harrisburg doesn’t impose any vacation rental ordinance, the planning department says that the zoning districts prohibit the business.
Cleveland, Ohio
- Median Property Price: $193,453
- Average Price per Square Foot: $208
- Days on Market: 72
- Number of Vacation Rental Listings: 1,299
- Monthly Vacation Rental Income: $1,839
- Vacation Rental Cash on Cash Return: 5.60%
- Vacation Rental Cap Rate: 5.81%
- Vacation Rental Daily Rate: $137
- Vacation Rental Occupancy Rate: 46%
- Walk Score: 54
Cleveland, Ohio is home to acclaimed cultural institutions, such as the Cleveland Museum of Natural History, the Cleveland Museum of Art, and the Rock and Roll Hall of Fame. The Cleveland Botanical Garden, Cleveland Metroparks Zoo, and Terminal Tower also offer many experiences for visitors.
According to the data from Mashvisor, you can see that the occupancy rate is relatively low. You also face high competition from more than a thousand vacation rental owners.
Waco, Texas
- Median Property Price: $388,177
- Average Price per Square Foot: $206
- Days on Market: 98
- Number of Vacation Rental Listings: 419
- Monthly Vacation Rental Income: $3,688
- Vacation Rental Cash on Cash Return: 5.97%
- Vacation Rental Cap Rate: 6.07%
- Vacation Rental Daily Rate: $191
- Vacation Rental Occupancy Rate: 54%
- Walk Score: 37
Visitors to Waco, Texas, can the Magnolia Market at the Silos, the Dr. Pepper Museum, the Waco Suspension Bridge, the Cameron Park Zoo, and the Waco Mammoth National Monument. Collegiate football fans can also enjoy a game or two at Baylor University.
Vacation rental investors in Waco must acquire a Special Use Permit. In some residential zoning areas, the rentals are not allowed to be within 500 meters of each other.
Indialantic, Florida
- Median Property Price: $783,731
- Average Price per Square Foot: $391
- Days on Market: 95
- Number of Vacation Rental Listings: 64
- Monthly Vacation Rental Income: $4,161
- Vacation Rental Cash on Cash Return: 2.53%
- Vacation Rental Cap Rate: 2.55%
- Vacation Rental Daily Rate: $192
- Vacation Rental Occupancy Rate: 49%
- Walk Score: 55
Closing AirDNA’s list of the best places to invest in vacation rentals in 2023 is Indialantic, Florida. The small town attracts visitors who come to experience its scenic and warm beaches, such as Indialantic Beach and Nance Park.
Visitors can enjoy a variety of water sports and activities, such as swimming, fishing, boating, and surfing. Additionally, outdoor lovers can hike and watch different bird species at the Sebastian Inlet State Park.
In contrast to AirDNA, Mashvisor’s data shows that the median property price in Indialantic is quite high. Compared to the return on investment metrics, you might want to reconsider investing in vacation rentals in Indialantic.
Start analyzing top markets for vacation rentals on Mashvisor today.
How to Find the Top Markets for Vacation Rentals in Minutes
After looking at AirDNA’s top markets for vacation rental investment in 2023, some investors may desire to go ahead and find other best places for themselves.
One of the most important skills you can have as a vacation rental investor is to know how to spot a lucrative market for investment. Remember, investing well isn’t just about having enough capital to buy a property. You want to equip yourself with the right knowledge to make informed business decisions.
So, how do find the best places for vacation rental investment?
To get access to our real estate investment tools, click here to sign up for a 7-day free trial of Mashvisor today and enjoy 15% off for life.
Know What to Look For
There are a few characteristics that you need to look out for when looking for vacation rental top markets. Let’s break them down:
Tourism
Tourism is a major pillar of the vacation rental industry. Your best bet would be investing in a tourism hotspot or a city that neighbors one.
While tourism, by definition, involves people traveling to a certain area for personal or recreational purposes, you need to think beyond that. Some cities experience a high inflow of visitors for educational or business purposes. Such cities make great vacation rental markets, too.
Also, be on the lookout for festivals or events that can increase the number of visitors. They can include music concerts, sports tournaments, cultural parades, etc.
In essence, study the city carefully. Consider all factors that can lower your vacancy rate. You want to experience a good number of bookings yearly.
Seasonality
Vacation rentals are highly influenced by the peak and off seasons. You must understand how each season works in order to learn how to adjust to each season. It is especially important when adopting a dynamic pricing strategy.
Every market behaves differently in different seasons. Some perform way better than others. You just need to learn how to maximize your investment depending on how the market performs in a particular season.
For example, some cities, especially in states like Florida, receive a good flow of visitors all year round. Your vacation rental will do well in such a city.
If you desire to invest in a city with peak and off seasons, you must adopt a strategy to help you maximize the peak season and attract more bookings when the market cools down.
Occupancy Rate
Ensure you find the city’s occupancy rate data before investing. The occupancy rate is basically the demand for vacation rentals in that city. It should be high enough to guarantee a good flow of guests every year.
You can easily do it by looking at real estate comps’ occupancy rate data. Real estate comps are comparable properties that are as similar to your property as possible and are located within the same neighborhood.
Ideally, you want to invest in a location with at least a 50% vacation rental occupancy rate.
Local Laws and Regulations
Lastly, you must ascertain that the local Airbnb regulations are friendly to vacation rentals. Some areas ban vacation rentals completely, while others strictly regulate them.
You must include the laws and regulations in your research. You can find a location where the data shows great potential in terms of return on investment. However, if the laws don’t favor vacation rentals, your investment may not reach maximum potential.
Use the Right Tools
At this point, you already know that there are a lot of factors to consider. If you were to go through the checklist manually for every location, you’d take weeks and even months to find the best markets for vacation rental investment.
Being an investor in the digital age doesn’t need to be hard. You can take advantage of various tools available online to analyze potential investment locations. But not all online real estate investment tools are equal.
One tool hailed by both real estate investors and realtors is Mashvisor.
Mashvisor is an online real estate platform that helps real estate investors make smart financial and business decisions by providing them with accurate, reliable, and up-to-date data analytics.
Mashvisor maintains a huge online database that covers every market in all states in the US. We pull our data from reliable sources like the MLS, Airbnb, Zillow, and Realtor.com. The data is updated regularly to ensure you get the latest analytics.
Here’s a breakdown of the data Mashvisor provides to help you select a profitable market for vacation rental investment:
City-Level Data
Firstly, Mashvisor provides you with city-level vacation rental data. The markets here are updated regularly based on rental income, occupancy rate, cash on cash return, and cap rate.
The lists are readily available and can save you hours of research and analysis. In addition, each location comes with important data, such as median property price, price per square foot, average rental income, occupancy rate, daily rate, and return on investment.
With the said data points, you can choose a vacation rental market that meets all your requirements and income expectations. After doing so, you can now begin your search for investment properties.
But before that, you need to conduct a neighborhood analysis.
Neighborhood-Level Data
Mashvisor goes a step further and helps you choose a profitable neighborhood in the city of your choice. The neighborhood-level data is provided on the neighborhood analysis pages.
One tool that’s specifically tailored to help you find the best place to invest in vacation rentals is Mashvisor’s real estate heatmap tool. The heatmap is a color-coded tool that uses colors to display results based on your search criteria.
You can use the following filters to set your search criteria on the heatmap:
- Listing price
- Occupancy rate
- Rental income
- Cash on cash return
The filters on the heatmap will help you only focus on neighborhoods with a good return on investment.
You can access the different levels of data by signing up on Mashvisor and starting your 7-day free trial.
AirDNA vs Mashvisor: Is Mashvisor Better Than AirDNA?
AirDNA shares a few similarities with Mashvisor but also differs in a few other ways. To find out which is the better tool for you, check out the following video:
Key Takeaways
2023 is expected to be a big year for vacation rental investors. If you’ve not already started planning how you’ll invest, now is the best time to do it.
We’ve already analyzed the list of AirDNA’s best places to invest in 2023 to help you understand whether they’ll make financial sense based on Mashvisor’s latest location report.
Remember, you need an online tool you help you access reliable, accurate, and up-to-date data to identify the top markets. As one of the more useful AirDNA alternatives in the market today, Mashvisor offers you both city-level and neighborhood-level data for all markets in the US.
The best thing is that our data is presented in an easy format that even novice investors can understand.
Schedule a demo today to access our real estate tools and identify the best places to invest in vacation rentals this year.