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100 Best Short Term Rental Markets in 2024

In this article, we ranked the 100 best short term rental markets in 2024 that you should invest in based on data from Mashvisor.

In 2023, you may have seen online posts complaining about the egregious cleaning fees that short term rentals charge. Alongside these were predictions of Airbnb’s and the rest of the short term rental market’s downfall. However, the industry’s performance last year showed that short term rentals remain strong.

Table of Contents

  1. Criteria Used to Filter These Lists
  2. 2024 Best Short Term Rental Markets With $2,000 to $3,000 Monthly Income
  3. 2024 Best Short Term Rental Markets With $3,001 to $4,000 Monthly Income
  4. 2024 Best Short Term Rental Markets With $4,001 to $5,000 Monthly Income
  5. 2024 Best Short Term Rental Markets With $5,001+ Monthly Income
  6. How to Find the Best Short Term Rental Investments

In 2024, demand in the short term rental industry is expected to continue growing as inflation rates slow down and wages stay strong. Plus, the US will see more inbound travel from all over the world, as experts expect the numbers to reach 98% of 2019 levels, up from 84% the previous year.

Unfortunately, the housing market remains terrible, but those with existing vacation rentals should see this as a good sign. As long as home prices stay high, fewer new vacation rentals will pop up, lowering potential competition. But if you’re an investor who’s been thinking of buying a short term rental for sale, you should still do it if you can afford to.

Below is our list of the 100 best cash flow short term rental markets in 2024. We grouped them by their average monthly income, starting at $2,000, so feel free to jump to the section that meets your investment targets.

Criteria Used to Filter These Lists

When ranking the top 100 short term rental markets, we looked at the different metrics that determine each location’s profitability. These include monthly income, average daily rate, occupancy rate, and cash on cash return

We went over Mashvisor’s March 2023 data and used the following criteria to show you only the best and most profitable properties for cash flow generation: 

  • Each location must have a median property price that does not exceed $1,000,000, except for the $5,001+ category;
  • Each location must have at least 100 active listings on the short term rental market to indicate demand for vacation rentals;
  • Each location must have no less than 2.00% cash on cash return to guarantee profitability; and,
  • Each location must have an Airbnb occupancy rate of 50% or more for bigger income opportunities.

Disclaimer: This does not automatically mean that vacation rentals are legal in the listed cities. We encourage you to call the appropriate local government office or check out our short term rental rules and regulations guide beforehand.

2024 Best Short Term Rental Markets With $2,000 to $3,000 Monthly Income

The cities included in this section are generally low-profile tourist destinations and often used pit stops. These locations are also perfect for beginner investors who do not have a lot of capital yet.

1. Columbia MO

  • Median Property Price: $277,834
  • Average Price per Square Foot: $144
  • Days on Market: 81
  • Number of Short Term Rental Listings: 252
  • Monthly Short Term Rental Income: $2,758
  • Short Term Rental Cash on Cash Return: 7.16%
  • Short Term Rental Cap Rate: 7.34%
  • Short Term Rental Daily Rate: $138
  • Short Term Rental Occupancy Rate: 58%
  • Walk Score: 30

2. Irondale AL

  • Median Property Price: $263,118
  • Average Price per Square Foot: $179
  • Days on Market: 69
  • Number of Short Term Rental Listings: 262
  • Monthly Short Term Rental Income: $2,638
  • Short Term Rental Cash on Cash Return: 6.68%
  • Short Term Rental Cap Rate: 6.83%
  • Short Term Rental Daily Rate: $139
  • Short Term Rental Occupancy Rate: 54% 
  • Walk Score: 48

3. Evansville IN

  • Median Property Price: $281,005
  • Average Price per Square Foot: $139
  • Days on Market: 101
  • Number of Short Term Rental Listings: 143
  • Monthly Short Term Rental Income: $2,836
  • Short Term Rental Cash on Cash Return: 6.36%
  • Short Term Rental Cap Rate: 6.51%
  • Short Term Rental Daily Rate: $104
  • Short Term Rental Occupancy Rate: 62%
  • Walk Score: 65

Mashvisor’s Market Finder gives Evansville IN an “A” rating.

4. Adelphi MD

  • Median Property Price: $254,988
  • Average Price per Square Foot: $250
  • Days on Market: 46
  • Number of Short Term Rental Listings: 366
  • Monthly Short Term Rental Income: $2,687
  • Short Term Rental Cash on Cash Return: 6.31%
  • Short Term Rental Cap Rate: 6.49%
  • Short Term Rental Daily Rate: $134
  • Short Term Rental Occupancy Rate: 59%
  • Walk Score: 62

5. Kansas City KS

  • Median Property Price: $223,470
  • Average Price per Square Foot: $148
  • Days on Market: 72
  • Number of Short Term Rental Listings: 138
  • Monthly Short Term Rental Income: $2,273
  • Short Term Rental Cash on Cash Return: 6.24%
  • Short Term Rental Cap Rate: 6.41%
  • Short Term Rental Daily Rate: $138
  • Short Term Rental Occupancy Rate: 50%
  • Walk Score: 74

6. Peoria IL

  • Median Property Price: $211,635
  • Average Price per Square Foot: $102
  • Days on Market: 112
  • Number of Short Term Rental Listings: 122
  • Monthly Short Term Rental Income: $2,264
  • Short Term Rental Cash on Cash Return: 6.22%
  • Short Term Rental Cap Rate: 6.42%
  • Short Term Rental Daily Rate: $93
  • Short Term Rental Occupancy Rate: 63%
  • Walk Score: 55

7. Columbus GA

  • Median Property Price: $224,963
  • Average Price per Square Foot: $137
  • Days on Market: 105
  • Number of Short Term Rental Listings: 314
  • Monthly Short Term Rental Income: $2,096
  • Short Term Rental Cash on Cash Return: 6.16%
  • Short Term Rental Cap Rate: 6.35%
  • Short Term Rental Daily Rate: $121
  • Short Term Rental Occupancy Rate: 57%
  • Walk Score: 37

8. McKees Rocks PA

  • Median Property Price: $270,045
  • Average Price per Square Foot: $191
  • Days on Market: 17
  • Number of Short Term Rental Listings: 747
  • Monthly Short Term Rental Income: $2,833
  • Short Term Rental Cash on Cash Return: 6.12%
  • Short Term Rental Cap Rate: 6.26%
  • Short Term Rental Daily Rate: $159
  • Short Term Rental Occupancy Rate: 52%
  • Walk Score: 68

9. Springfield IL

  • Median Property Price: $216,936
  • Average Price per Square Foot: $107
  • Days on Market: 95
  • Number of Short Term Rental Listings: 135
  • Monthly Short Term Rental Income: $2,087
  • Short Term Rental Cash on Cash Return: 5.97%
  • Short Term Rental Cap Rate: 6.20%
  • Short Term Rental Daily Rate: $99
  • Short Term Rental Occupancy Rate: 52%
  • Walk Score: 46

10. Rockford IL

  • Median Property Price: $178,895
  • Average Price per Square Foot: $116
  • Days on Market: 73
  • Number of Short Term Rental Listings: 124
  • Monthly Short Term Rental Income: $2,283
  • Short Term Rental Cash on Cash Return: 5.93%
  • Short Term Rental Cap Rate: 6.11%
  • Short Term Rental Daily Rate: $97
  • Short Term Rental Occupancy Rate: 55%
  • Walk Score: 87

11. Richmond Heights OH

  • Median Property Price: $221,972
  • Average Price per Square Foot: $128
  • Days on Market: 95
  • Number of Short Term Rental Listings: 247
  • Monthly Short Term Rental Income: $2,541
  • Short Term Rental Cash on Cash Return: 5.86%
  • Short Term Rental Cap Rate: 6.00%
  • Short Term Rental Daily Rate: $132
  • Short Term Rental Occupancy Rate: 51%
  • Walk Score: 21

12. Old Hickory TN

  • Median Property Price: $344,717
  • Average Price per Square Foot: $254
  • Days on Market: 76
  • Number of Short Term Rental Listings: 265
  • Monthly Short Term Rental Income: $2,998
  • Short Term Rental Cash on Cash Return: 5.85%
  • Short Term Rental Cap Rate: 5.94%
  • Short Term Rental Daily Rate: $180
  • Short Term Rental Occupancy Rate: 54%
  • Walk Score: 56

13. Erie PA

  • Median Property Price: $297,837
  • Average Price per Square Foot: $159
  • Days on Market: 75
  • Number of Short Term Rental Listings: 172
  • Monthly Short Term Rental Income: $2,889
  • Short Term Rental Cash on Cash Return: 5.83%
  • Short Term Rental Cap Rate: 5.96%
  • Short Term Rental Daily Rate: $142
  • Short Term Rental Occupancy Rate: 57%
  • Walk Score: 90

14. Fairmount Heights MD

  • Median Property Price: $321,000
  • Average Price per Square Foot: $260
  • Days on Market: 42
  • Number of Short Term Rental Listings: 159
  • Monthly Short Term Rental Income: $2,964
  • Short Term Rental Cash on Cash Return: 5.82%
  • Short Term Rental Cap Rate: 5.94%
  • Short Term Rental Daily Rate: $140
  • Short Term Rental Occupancy Rate: 56%
  • Walk Score: 41

15. Watervliet NY

  • Median Property Price: $246,340
  • Average Price per Square Foot:  $162
  • Days on Market: 67
  • Number of Short Term Rental Listings: 150
  • Monthly Short Term Rental Income: $2,750
  • Short Term Rental Cash on Cash Return: 5.77%
  • Short Term Rental Cap Rate: 5.91%
  • Short Term Rental Daily Rate: $128
  • Short Term Rental Occupancy Rate: 53%
  • Walk Score: 77

16. Stickney IL

  • Median Property Price: $234,840
  • Average Price per Square Foot: $160
  • Days on Market: 65
  • Number of Short Term Rental Listings: 299
  • Monthly Short Term Rental Income: $2,714
  • Short Term Rental Cash on Cash Return: 5.76%
  • Short Term Rental Cap Rate: 5.89%
  • Short Term Rental Daily Rate: $162
  • Short Term Rental Occupancy Rate: 52%
  • Walk Score: 55

17. Rochester NY

  • Median Property Price: $245,491
  • Average Price per Square Foot: $237
  • Days on Market: 73
  • Number of Short Term Rental Listings: 475
  • Monthly Short Term Rental Income: $2,540
  • Short Term Rental Cash on Cash Return: 5.63%
  • Short Term Rental Cap Rate: 5.78%
  • Short Term Rental Daily Rate: $138
  • Short Term Rental Occupancy Rate: 56%
  • Walk Score: 57

18. Ottawa Hills OH

  • Median Property Price: $215,864
  • Average Price per Square Foot: $129
  • Days on Market: 12
  • Number of Short Term Rental Listings: 151
  • Monthly Short Term Rental Income: $2,180
  • Short Term Rental Cash on Cash Return: 5.61%
  • Short Term Rental Cap Rate: 5.76%
  • Short Term Rental Daily Rate: $135
  • Short Term Rental Occupancy Rate: 51%
  • Walk Score: 26

19. Wichita Falls TX

  • Median Property Price: $283,949
  • Average Price per Square Foot: $141
  • Days on Market: 59
  • Number of Short Term Rental Listings: 147
  • Monthly Short Term Rental Income: $2,696
  • Short Term Rental Cash on Cash Return: 5.54%
  • Short Term Rental Cap Rate: 5.68%
  • Short Term Rental Daily Rate: $129
  • Short Term Rental Occupancy Rate: 55%
  • Walk Score: 65

20. Portsmouth VA

  • Median Property Price: $262,889
  • Average Price per Square Foot: $162
  • Days on Market: 48
  • Number of Short Term Rental Listings: 178
  • Monthly Short Term Rental Income: $2,353
  • Short Term Rental Cash on Cash Return: 5.42%
  • Short Term Rental Cap Rate: 5.54%
  • Short Term Rental Daily Rate: $154
  • Short Term Rental Occupancy Rate: 51%
  • Walk Score: 27

21. Syracuse NY

  • Median Property Price: $210,775
  • Average Price per Square Foot: $205
  • Days on Market: 92
  • Number of Short Term Rental Listings: 232
  • Monthly Short Term Rental Income: $2,529
  • Short Term Rental Cash on Cash Return: 5.40%
  • Short Term Rental Cap Rate: 5.57%
  • Short Term Rental Daily Rate: $150
  • Short Term Rental Occupancy Rate: 57%
  • Walk Score: 53

22. Anderson SC

  • Median Property Price: $338,051
  • Average Price per Square Foot: $212
  • Days on Market: 72
  • Number of Short Term Rental Listings: 143
  • Monthly Short Term Rental Income: $2,755
  • Short Term Rental Cash on Cash Return: 5.36%
  • Short Term Rental Cap Rate: 5.46%
  • Short Term Rental Daily Rate: $197
  • Short Term Rental Occupancy Rate: 50%
  • Walk Score: 56

23. Saint Paul MN

  • Median Property Price: $307,665
  • Average Price per Square Foot: $188
  • Days on Market: 67
  • Number of Short Term Rental Listings: 425
  • Monthly Short Term Rental Income: $2,922
  • Short Term Rental Cash on Cash Return: 5.34%
  • Short Term Rental Cap Rate: 5.45%
  • Short Term Rental Daily Rate: $150
  • Short Term Rental Occupancy Rate: 62%
  • Walk Score: 57

24. Norfolk VA

  • Median Property Price: $347,748
  • Average Price per Square Foot: $258
  • Days on Market: 47
  • Number of Short Term Rental Listings: 800
  • Monthly Short Term Rental Income: $2,885
  • Short Term Rental Cash on Cash Return: 5.33%
  • Short Term Rental Cap Rate: 5.43%
  • Short Term Rental Daily Rate: $173
  • Short Term Rental Occupancy Rate: 51%
  • Walk Score: 42

25. Vinton VA

  • Median Property Price: $313,514
  • Average Price per Square Foot: $164
  • Days on Market: 61
  • Number of Short Term Rental Listings: 160
  • Monthly Short Term Rental Income: $2,522
  • Short Term Rental Cash on Cash Return: 5.29%
  • Short Term Rental Cap Rate: 5.39%
  • Short Term Rental Daily Rate: $122
  • Short Term Rental Occupancy Rate: 61%
  • Walk Score: 68

2024 Best Short Term Rental Markets With $3,001 to $4,000 Monthly Income

The locations featured in this section are mostly outdoor tourist destinations and cities near metropolitan areas, which always get a lot of leisure and business travelers. Beginners may also find affordable properties here.

26. Columbia Heights MN

  • Median Property Price: $294,482
  • Average Price per Square Foot: $142
  • Days on Market: 22
  • Number of Short Term Rental Listings: 314
  • Monthly Short Term Rental Income: $3,724
  • Short Term Rental Cash on Cash Return: 8.06%
  • Short Term Rental Cap Rate: 8.21%
  • Short Term Rental Daily Rate: $158
  • Short Term Rental Occupancy Rate: 58%
  • Walk Score: 82

27. Bridgeton MO

  • Median Property Price: $264,711
  • Average Price per Square Foot: $136
  • Days on Market: 23
  • Number of Short Term Rental Listings: 120
  • Monthly Short Term Rental Income: $3,291
  • Short Term Rental Cash on Cash Return: 7.69%
  • Short Term Rental Cap Rate: 7.83%
  • Short Term Rental Daily Rate: $154
  • Short Term Rental Occupancy Rate: 58%
  • Walk Score: 3

28. Rileyville VA

  • Median Property Price: $332,031
  • Average Price per Square Foot: $192
  • Days on Market: 15
  • Number of Short Term Rental Listings: 155
  • Monthly Short Term Rental Income: $3,733
  • Short Term Rental Cash on Cash Return: 7.57%
  • Short Term Rental Cap Rate: 7.69%
  • Short Term Rental Daily Rate: $236
  • Short Term Rental Occupancy Rate: 56%
  • Walk Score: 10

29. Harpers Ferry WV

  • Median Property Price: $384,688
  • Average Price per Square Foot: $239
  • Days on Market: 64
  • Number of Short Term Rental Listings: 118
  • Monthly Short Term Rental Income: $3,956
  • Short Term Rental Cash on Cash Return: 7.17%
  • Short Term Rental Cap Rate: 7.27
  • Short Term Rental Daily Rate: $187
  • Short Term Rental Occupancy Rate: 51%
  • Walk Score: 0

30. Lyons IL

  • Median Property Price: $269,543
  • Average Price per Square Foot: $210
  • Days on Market: 88
  • Number of Short Term Rental Listings: 173
  • Monthly Short Term Rental Income: $3,164
  • Short Term Rental Cash on Cash Return: 7.11%
  • Short Term Rental Cap Rate: 7.27%
  • Short Term Rental Daily Rate: $166
  • Short Term Rental Occupancy Rate: 53%
  • Walk Score: 65

31. Broadview IL

  • Median Property Price: $251,790
  • Average Price per Square Foot: $208
  • Days on Market: 83
  • Number of Short Term Rental Listings: 307
  • Monthly Short Term Rental Income: $3,189
  • Short Term Rental Cash on Cash Return: 7.04%
  • Short Term Rental Cap Rate: 7.18%
  • Short Term Rental Daily Rate: $164
  • Short Term Rental Occupancy Rate: 59%
  • Walk Score: 77

32. Crystal MN

  • Median Property Price: $272,519
  • Average Price per Square Foot: $165
  • Days on Market: 56
  • Number of Short Term Rental Listings: 208
  • Monthly Short Term Rental Income: $3,110
  • Short Term Rental Cash on Cash Return: 6.95%
  • Short Term Rental Cap Rate: 7.08%
  • Short Term Rental Daily Rate: $163
  • Short Term Rental Occupancy Rate: 52%
  • Walk Score: 59

33. Bellwood IL

  • Median Property Price: $242,956
  • Average Price per Square Foot: $213
  • Days on Market: 98
  • Number of Short Term Rental Listings: 175
  • Monthly Short Term Rental Income: $3,416
  • Short Term Rental Cash on Cash Return: 6.93%
  • Short Term Rental Cap Rate: 7.07%
  • Short Term Rental Daily Rate: $166
  • Short Term Rental Occupancy Rate: 60%
  • Walk Score: 83

34. Maywood IL

  • Median Property Price: $225,855
  • Average Price per Square Foot: $171
  • Days on Market: 76
  • Number of Short Term Rental Listings: 332
  • Monthly Short Term Rental Income: $3,078
  • Short Term Rental Cash on Cash Return: 6.91%
  • Short Term Rental Cap Rate: 7.09%
  • Short Term Rental Daily Rate: $163
  • Short Term Rental Occupancy Rate: 57%
  • Walk Score: 58

35. Villas NJ

  • Median Property Price: $341,278
  • Average Price per Square Foot: $347
  • Days on Market: 72
  • Number of Short Term Rental Listings: 100
  • Monthly Short Term Rental Income: $3,580
  • Short Term Rental Cash on Cash Return: 6.91%
  • Short Term Rental Cap Rate: 7.02%
  • Short Term Rental Daily Rate: $289
  • Short Term Rental Occupancy Rate: 51%
  • Walk Score: 59

36. Schiller Park IL

  • Median Property Price: $306,433
  • Average Price per Square Foot: $232
  • Days on Market: 45
  • Number of Short Term Rental Listings: 132
  • Monthly Short Term Rental Income: $3,628
  • Short Term Rental Cash on Cash Return: 6.73%
  • Short Term Rental Cap Rate: 6.85%
  • Short Term Rental Daily Rate: $167
  • Short Term Rental Occupancy Rate: 57%
  • Walk Score: 63

37. West Saint Paul MN

  • Median Property Price: $274,467
  • Average Price per Square Foot: $155
  • Days on Market: 36
  • Number of Short Term Rental Listings: 350
  • Monthly Short Term Rental Income: $3,126
  • Short Term Rental Cash on Cash Return: 6.73%
  • Short Term Rental Cap Rate: 6.86%
  • Short Term Rental Daily Rate: $149
  • Short Term Rental Occupancy Rate: 61%
  • Walk Score: 75

38. Hummelstown PA

  • Median Property Price: $355,606
  • Average Price per Square Foot: $624
  • Days on Market: 155
  • Number of Short Term Rental Listings: 101
  • Monthly Short Term Rental Income: $3,764
  • Short Term Rental Cash on Cash Return: 6.69%
  • Short Term Rental Cap Rate: 6.78%
  • Short Term Rental Daily Rate: $242
  • Short Term Rental Occupancy Rate: 51%
  • Walk Score: 67

39. Franklin Park IL

  • Median Property Price: $299,155
  • Average Price per Square Foot: $231
  • Days on Market: 66
  • Number of Short Term Rental Listings: 189
  • Monthly Short Term Rental Income: $3,559
  • Short Term Rental Cash on Cash Return: 6.68%
  • Short Term Rental Cap Rate: 6.80%
  • Short Term Rental Daily Rate: $165
  • Short Term Rental Occupancy Rate: 59%
  • Walk Score: 64

40. Robbinsdale MN

  • Median Property Price: $326,933
  • Average Price per Square Foot: $151
  • Days on Market: 12
  • Number of Short Term Rental Listings: 352
  • Monthly Short Term Rental Income: $3,408
  • Short Term Rental Cash on Cash Return: 6.22%
  • Short Term Rental Cap Rate: 6.32%
  • Short Term Rental Daily Rate: $164
  • Short Term Rental Occupancy Rate: 57%
  • Walk Score: 73

41. Fairbanks AK

  • Median Property Price: $356,307
  • Average Price per Square Foot: $181
  • Days on Market: 104
  • Number of Short Term Rental Listings: 201
  • Monthly Short Term Rental Income: $3,439
  • Short Term Rental Cash on Cash Return: 6.15%
  • Short Term Rental Cap Rate: 6.26%
  • Short Term Rental Daily Rate: $152
  • Short Term Rental Occupancy Rate: 56%
  • Walk Score: 19

42. District Heights MD

  • Median Property Price: $346,580
  • Average Price per Square Foot: $274
  • Days on Market: 78
  • Number of Short Term Rental Listings: 100
  • Monthly Short Term Rental Income: $3,538
  • Short Term Rental Cash on Cash Return: 6.13%
  • Short Term Rental Cap Rate: 6.22%
  • Short Term Rental Daily Rate: $136
  • Short Term Rental Occupancy Rate: 56%
  • Walk Score: 51

43. Abilene TX

  • Median Property Price: $319,542
  • Average Price per Square Foot: $158
  • Days on Market: 10
  • Number of Short Term Rental Listings: 210
  • Monthly Short Term Rental Income: $3,215
  • Short Term Rental Cash on Cash Return: 6.07%
  • Short Term Rental Cap Rate: 6.20%
  • Short Term Rental Daily Rate: $136
  • Short Term Rental Occupancy Rate: 53%
  • Walk Score: 30

44. New Bern NC

  • Median Property Price: $393,884
  • Average Price per Square Foot: $221
  • Days on Market: 117
  • Number of Short Term Rental Listings: 165
  • Monthly Short Term Rental Income: $3,547
  • Short Term Rental Cash on Cash Return: 5.96%
  • Short Term Rental Cap Rate: 6.05%
  • Short Term Rental Daily Rate: $152
  • Short Term Rental Occupancy Rate: 57%
  • Walk Score: 79

45. New Hope MN

  • Median Property Price: $303,573
  • Average Price per Square Foot: $156
  • Days on Market: 33
  • Number of Short Term Rental Listings: 109
  • Monthly Short Term Rental Income: $3,388
  • Short Term Rental Cash on Cash Return: 5.90%
  • Short Term Rental Cap Rate: 6.01%
  • Short Term Rental Daily Rate: $160
  • Short Term Rental Occupancy Rate: 55%
  • Walk Score: 60

46. New Brighton MN

  • Median Property Price: $319,550
  • Average Price per Square Foot: $160
  • Days on Market: 106
  • Number of Short Term Rental Listings: 130
  • Monthly Short Term Rental Income: $3,514
  • Short Term Rental Cash on Cash Return: 5.89%
  • Short Term Rental Cap Rate: 5.99%
  • Short Term Rental Daily Rate: $158
  • Short Term Rental Occupancy Rate: 63%
  • Walk Score: 27

47. Sturgeon Bay WI

  • Median Property Price: $323,645
  • Average Price per Square Foot: $244
  • Days on Market: 15
  • Number of Short Term Rental Listings: 218
  • Monthly Short Term Rental Income: $3,182
  • Short Term Rental Cash on Cash Return: 5.82%
  • Short Term Rental Cap Rate: 5.92%
  • Short Term Rental Daily Rate: $244
  • Short Term Rental Occupancy Rate: 51%
  • Walk Score: 73

48. Waco TX

  • Median Property Price: $410,891
  • Average Price per Square Foot: $210
  • Days on Market: 95
  • Number of Short Term Rental Listings: 416
  • Monthly Short Term Rental Income: $3,624
  • Short Term Rental Cash on Cash Return: 5.80%
  • Short Term Rental Cap Rate: 5.90%
  • Short Term Rental Daily Rate: $196
  • Short Term Rental Occupancy Rate: 53%
  • Walk Score: 37

49. Galena IL

  • Median Property Price: $409,583
  • Average Price per Square Foot: $223
  • Days on Market: 67
  • Number of Short Term Rental Listings: 373
  • Monthly Short Term Rental Income: $3,793
  • Short Term Rental Cash on Cash Return: 5.78%
  • Short Term Rental Cap Rate: 5.88%
  • Short Term Rental Daily Rate: $275
  • Short Term Rental Occupancy Rate: 50%
  • Walk Score: 76

50. Grand Rapids MI

  • Median Property Price: $406,690
  • Average Price per Square Foot: $215
  • Days on Market: 35
  • Number of Short Term Rental Listings: 316
  • Monthly Short Term Rental Income: $3,205
  • Short Term Rental Cash on Cash Return: 5.72%
  • Short Term Rental Cap Rate: 5.83%
  • Short Term Rental Daily Rate: $173
  • Short Term Rental Occupancy Rate: 57%
  • Walk Score: 59

2024 Best Short Term Rental Markets With $4,001 to $5,000 Monthly Income

Beginner investors might have a hard time finding cheaper properties in the areas in this tier. Meanwhile, experienced investors with more capital saved up might find a great second or third property in these 25 cities.

51. Northlake IL

  • Median Property Price: $323,180
  • Average Price per Square Foot: $217
  • Days on Market: 139
  • Number of Short Term Rental Listings: 120
  • Monthly Short Term Rental Income: $4,269
  • Short Term Rental Cash on Cash Return: 8.29%
  • Short Term Rental Cap Rate: 8.44%
  • Short Term Rental Daily Rate: $171
  • Short Term Rental Occupancy Rate: 53%
  • Walk Score: 33

52. Harahan LA

  • Median Property Price: $398,200
  • Average Price per Square Foot: $209
  • Days on Market: 57
  • Number of Short Term Rental Listings: 111
  • Monthly Short Term Rental Income: $4,022
  • Short Term Rental Cash on Cash Return: 7.46%
  • Short Term Rental Cap Rate: 7.57%
  • Short Term Rental Daily Rate: $137
  • Short Term Rental Occupancy Rate: 59%
  • Walk Score: 56

53. Hialeah FL

  • Median Property Price: $474,121
  • Average Price per Square Foot: $438
  • Days on Market: 88
  • Number of Short Term Rental Listings: 140
  • Monthly Short Term Rental Income: $4,985
  • Short Term Rental Cash on Cash Return: 6.86%
  • Short Term Rental Cap Rate: 6.94%
  • Short Term Rental Daily Rate: $161
  • Short Term Rental Occupancy Rate: 50%
  • Walk Score: 73

54. Kissimmee FL

  • Median Property Price: $437,229
  • Average Price per Square Foot: $248
  • Days on Market: 84
  • Number of Short Term Rental Listings: 3,211
  • Monthly Short Term Rental Income: $4,207
  • Short Term Rental Cash on Cash Return: 6.50%
  • Short Term Rental Cap Rate: 6.59%
  • Short Term Rental Daily Rate: $207
  • Short Term Rental Occupancy Rate: 50%
  • Walk Score: 65

55. Poughkeepsie City NY

  • Median Property Price: $376,360
  • Average Price per Square Foot: $171
  • Days on Market: 91
  • Number of Short Term Rental Listings: 100
  • Monthly Short Term Rental Income: $4,004
  • Short Term Rental Cash on Cash Return: 6.24%
  • Short Term Rental Cap Rate: 6.34%
  • Short Term Rental Daily Rate: $201
  • Short Term Rental Occupancy Rate: 52%
  • Walk Score: 82

56. Holland MI

  • Median Property Price: $498,371
  • Average Price per Square Foot: $224
  • Days on Market: 73
  • Number of Short Term Rental Listings: 208
  • Monthly Short Term Rental Income: $4,400
  • Short Term Rental Cash on Cash Return: 6.13%
  • Short Term Rental Cap Rate: 6.22%
  • Short Term Rental Daily Rate: $306
  • Short Term Rental Occupancy Rate: 55%
  • Walk Score: 85

57. Waianae HI

  • Median Property Price: $652,604
  • Average Price per Square Foot: $470
  • Days on Market: 96
  • Number of Short Term Rental Listings: 121
  • Monthly Short Term Rental Income: $4,312
  • Short Term Rental Cash on Cash Return: 5.55%
  • Short Term Rental Cap Rate: 5.62%
  • Short Term Rental Daily Rate: $209
  • Short Term Rental Occupancy Rate: 61%
  • Walk Score: 19

58. Woodway TX

  • Median Property Price: $510,954
  • Average Price per Square Foot: $196
  • Days on Market: 87
  • Number of Short Term Rental Listings: 246
  • Monthly Short Term Rental Income: $4,603
  • Short Term Rental Cash on Cash Return: 5.49%
  • Short Term Rental Cap Rate: 5.56%
  • Short Term Rental Daily Rate: $192
  • Short Term Rental Occupancy Rate: 53%
  • Walk Score: 43

59. Lafayette OR

  • Median Property Price: $505,411
  • Average Price per Square Foot: $259
  • Days on Market: 42
  • Number of Short Term Rental Listings: 128
  • Monthly Short Term Rental Income: $4,284
  • Short Term Rental Cash on Cash Return: 5.40%
  • Short Term Rental Cap Rate: 5.45%
  • Short Term Rental Daily Rate: $264
  • Short Term Rental Occupancy Rate: 51%
  • Walk Score: 57

60. Milton NY

  • Median Property Price: $470,491
  • Average Price per Square Foot: $265
  • Days on Market: 72
  • Number of Short Term Rental Listings: 100
  • Monthly Short Term Rental Income: $4,509
  • Short Term Rental Cash on Cash Return: 5.38%
  • Short Term Rental Cap Rate: 5.44%
  • Short Term Rental Daily Rate: $193
  • Short Term Rental Occupancy Rate: 52%
  • Walk Score: 33

61. Broomall PA

  • Median Property Price: $495,440
  • Average Price per Square Foot: $265
  • Days on Market: 39
  • Number of Short Term Rental Listings: 127
  • Monthly Short Term Rental Income: $4,355
  • Short Term Rental Cash on Cash Return: 5.38%
  • Short Term Rental Cap Rate: 5.44%
  • Short Term Rental Daily Rate: $152
  • Short Term Rental Occupancy Rate: 58%
  • Walk Score: 32

62. Gainesville GA

  • Median Property Price: $534,582
  • Average Price per Square Foot: $1,124
  • Days on Market: 94
  • Number of Short Term Rental Listings: 164
  • Monthly Short Term Rental Income: $4,407
  • Short Term Rental Cash on Cash Return: 5.23%
  • Short Term Rental Cap Rate: 5.29%
  • Short Term Rental Daily Rate: $245
  • Short Term Rental Occupancy Rate: 52%
  • Walk Score: 84

63. Groton CT

  • Median Property Price: $617,327
  • Average Price per Square Foot: $523
  • Days on Market: 261
  • Number of Short Term Rental Listings: 121
  • Monthly Short Term Rental Income: $4,539
  • Short Term Rental Cash on Cash Return: 5.08%
  • Short Term Rental Cap Rate: 5.15%
  • Short Term Rental Daily Rate: $270
  • Short Term Rental Occupancy Rate: 50%
  • Walk Score: 61

64. Ithaca NY

  • Median Property Price: $557,550
  • Average Price per Square Foot: $690
  • Days on Market: 119
  • Number of Short Term Rental Listings: 343
  • Monthly Short Term Rental Income: $4,159
  • Short Term Rental Cash on Cash Return: 4.93%
  • Short Term Rental Cap Rate: 5.00%
  • Short Term Rental Daily Rate: $248
  • Short Term Rental Occupancy Rate: 56%
  • Walk Score: 9

65. Madison WI

  • Median Property Price: $543,271
  • Average Price per Square Foot: $280
  • Days on Market: 6
  • Number of Short Term Rental Listings: 261
  • Monthly Short Term Rental Income: $4,909
  • Short Term Rental Cash on Cash Return: 4.92%
  • Short Term Rental Cap Rate: 4.97%
  • Short Term Rental Daily Rate: $240
  • Short Term Rental Occupancy Rate: 71%
  • Walk Score: 45

66. Ann Arbor MI

  • Median Property Price: $606,461
  • Average Price per Square Foot: $2,417
  • Days on Market: 90
  • Number of Short Term Rental Listings: 400
  • Monthly Short Term Rental Income: $4,423
  • Short Term Rental Cash on Cash Return: 4.88%
  • Short Term Rental Cap Rate: 4.94%
  • Short Term Rental Daily Rate: $266
  • Short Term Rental Occupancy Rate: 53%
  • Walk Score: 99

67. Fairhope AL

  • Median Property Price: $787,230
  • Average Price per Square Foot: $367
  • Days on Market: 104
  • Number of Short Term Rental Listings: 146
  • Monthly Short Term Rental Income: $4,880
  • Short Term Rental Cash on Cash Return: 4.82%
  • Short Term Rental Cap Rate: 4.87%
  • Short Term Rental Daily Rate: $193
  • Short Term Rental Occupancy Rate: 57%
  • Walk Score: 81

68. Bailey CO

  • Median Property Price: $589,492
  • Average Price per Square Foot: $408
  • Days on Market: 77
  • Number of Short Term Rental Listings: 107
  • Monthly Short Term Rental Income: $4,098
  • Short Term Rental Cash on Cash Return: 4.66%
  • Short Term Rental Cap Rate: 4.70%
  • Short Term Rental Daily Rate: $215
  • Short Term Rental Occupancy Rate: 53%
  • Walk Score: 34

69. Bergenfield NJ

  • Median Property Price: $484,288
  • Average Price per Square Foot: $206
  • Days on Market: 78
  • Number of Short Term Rental Listings: 132
  • Monthly Short Term Rental Income: $4,203
  • Short Term Rental Cash on Cash Return: 4.63%
  • Short Term Rental Cap Rate: 4.68%
  • Short Term Rental Daily Rate: $162
  • Short Term Rental Occupancy Rate: 57%
  • Walk Score: 94

70. McMinnville OR

  • Median Property Price: $609,253
  • Average Price per Square Foot: $320
  • Days on Market: 50
  • Number of Short Term Rental Listings: 103
  • Monthly Short Term Rental Income: $4,030
  • Short Term Rental Cash on Cash Return: 4.56%
  • Short Term Rental Cap Rate: 4.61%
  • Short Term Rental Daily Rate: $220
  • Short Term Rental Occupancy Rate: 55%
  • Walk Score: 93

71. Beacon NY

  • Median Property Price: $622,894
  • Average Price per Square Foot: $538
  • Days on Market: 89
  • Number of Short Term Rental Listings: 126
  • Monthly Short Term Rental Income: $4,854
  • Short Term Rental Cash on Cash Return: 4.54%
  • Short Term Rental Cap Rate: 4.59%
  • Short Term Rental Daily Rate: $248
  • Short Term Rental Occupancy Rate: 57%
  • Walk Score: 90

72. Panorama City CA

  • Median Property Price: $652,692
  • Average Price per Square Foot: $446
  • Days on Market: 88
  • Number of Short Term Rental Listings: 545
  • Monthly Short Term Rental Income: $4,582
  • Short Term Rental Cash on Cash Return: 4.51%
  • Short Term Rental Cap Rate: 4.55%
  • Short Term Rental Daily Rate: $209
  • Short Term Rental Occupancy Rate: 57%
  • Walk Score: 71

73. Gatlinburg TN

  • Median Property Price: $784,459
  • Average Price per Square Foot: $467
  • Days on Market: 106
  • Number of Short Term Rental Listings: 731
  • Monthly Short Term Rental Income: $4,901
  • Short Term Rental Cash on Cash Return: 4.33%
  • Short Term Rental Cap Rate: 4.37%
  • Short Term Rental Daily Rate: $333
  • Short Term Rental Occupancy Rate: 52%
  • Walk Score: 62

74. Dumont NJ

  • Median Property Price: $465,278
  • Average Price per Square Foot: $334
  • Days on Market: 66
  • Number of Short Term Rental Listings: 103
  • Monthly Short Term Rental Income: $4,247
  • Short Term Rental Cash on Cash Return: 4.25%
  • Short Term Rental Cap Rate: 4.29%
  • Short Term Rental Daily Rate: $172
  • Short Term Rental Occupancy Rate: 57%
  • Walk Score: 82

75. Milford CT

  • Median Property Price: $584,504
  • Average Price per Square Foot: $857
  • Days on Market: 77
  • Number of Short Term Rental Listings: 100
  • Monthly Short Term Rental Income: $4,460
  • Short Term Rental Cash on Cash Return: 4.23%
  • Short Term Rental Cap Rate: 4.28%
  • Short Term Rental Daily Rate: $273
  • Short Term Rental Occupancy Rate: 56%
  • Walk Score: 64

2023 Best Short Term Rental Markets With $5,001+ Monthly Income

The median property prices in this section start at over $500,000, making it out of reach for a lot of beginner investors. However, for those who can afford them, investing in these markets can give you some of the best dollar-for-dollar returns, especially in California and Hawaii.

76. Bar Harbor ME

  • Median Property Price: $590,000
  • Average Price per Square Foot: $402
  • Days on Market: 85
  • Number of Short Term Rental Listings: 136
  • Monthly Short Term Rental Income: $5,707
  • Short Term Rental Cash on Cash Return: 6.83%
  • Short Term Rental Cap Rate: 6.90%
  • Short Term Rental Daily Rate: $206
  • Short Term Rental Occupancy Rate: 77%
  • Walk Score: 77

77. Gulfport FL

  • Median Property Price: $542,786
  • Average Price per Square Foot: $380
  • Days on Market: 55
  • Number of Short Term Rental Listings: 177
  • Monthly Short Term Rental Income: $5,097
  • Short Term Rental Cash on Cash Return: 6.63%
  • Short Term Rental Cap Rate: 6.71%
  • Short Term Rental Daily Rate: $134
  • Short Term Rental Occupancy Rate: 50%
  • Walk Score: 66

78. Hauula HI

  • Median Property Price: $934,209
  • Average Price per Square Foot: $1,081
  • Days on Market: 26
  • Number of Short Term Rental Listings: 150
  • Monthly Short Term Rental Income: $6,986
  • Short Term Rental Cash on Cash Return: 5.89%
  • Short Term Rental Cap Rate: 5.94%
  • Short Term Rental Daily Rate: $300
  • Short Term Rental Occupancy Rate: 68%
  • Walk Score: 0

79. Mount Desert ME

  • Median Property Price: $953,951
  • Average Price per Square Foot: $866
  • Days on Market: 240
  • Number of Short Term Rental Listings: 120
  • Monthly Short Term Rental Income: $6,465
  • Short Term Rental Cash on Cash Return: 5.74%
  • Short Term Rental Cap Rate: 5.79%
  • Short Term Rental Daily Rate: $326
  • Short Term Rental Occupancy Rate: 60%
  • Walk Score: 0

80. New Paltz NY

  • Median Property Price: $599,092
  • Average Price per Square Foot: $310
  • Days on Market: 89
  • Number of Short Term Rental Listings: 159
  • Monthly Short Term Rental Income: $5,858
  • Short Term Rental Cash on Cash Return: 5.68%
  • Short Term Rental Cap Rate: 5.73%
  • Short Term Rental Daily Rate: $280
  • Short Term Rental Occupancy Rate: 51%
  • Walk Score: 88

81. Kapolei HI

  • Median Property Price: $1,381,896
  • Average Price per Square Foot: $802
  • Days on Market: 71
  • Number of Short Term Rental Listings: 205
  • Monthly Short Term Rental Income: $9,050
  • Short Term Rental Cash on Cash Return: 5.52%
  • Short Term Rental Cap Rate: 5.55%
  • Short Term Rental Daily Rate: $484
  • Short Term Rental Occupancy Rate: 60% 
  • Walk Score: 49

82. Napa CA

  • Median Property Price: $1,295,033
  • Average Price per Square Foot: $674
  • Days on Market: 51
  • Number of Short Term Rental Listings: 323
  • Monthly Short Term Rental Income: $8,969
  • Short Term Rental Cash on Cash Return: 5.16%
  • Short Term Rental Cap Rate: 5.19%
  • Short Term Rental Daily Rate: $327
  • Short Term Rental Occupancy Rate: 59%
  • Walk Score: 35

83. Sonoma CA

  • Median Property Price: $1,586,619
  • Average Price per Square Foot: $781
  • Days on Market: 38
  • Number of Short Term Rental Listings: 427
  • Monthly Short Term Rental Income: $8,729
  • Short Term Rental Cash on Cash Return: 5.09%
  • Short Term Rental Cap Rate: 5.12%
  • Short Term Rental Daily Rate: $479
  • Short Term Rental Occupancy Rate: 56%
  • Walk Score: 45

84. Southwest Harbor ME

  • Median Property Price: $953,000
  • Average Price per Square Foot: $594
  • Days on Market: 115
  • Number of Short Term Rental Listings: 159
  • Monthly Short Term Rental Income: $6,930
  • Short Term Rental Cash on Cash Return: 5.06%
  • Short Term Rental Cap Rate: 5.09%
  • Short Term Rental Daily Rate: $320
  • Short Term Rental Occupancy Rate: 60%
  • Walk Score: 51

85. Charlottesville VA

  • Median Property Price: $808,141
  • Average Price per Square Foot: $370
  • Days on Market: 151
  • Number of Short Term Rental Listings: 522
  • Monthly Short Term Rental Income: $5,560
  • Short Term Rental Cash on Cash Return: 5.05%
  • Short Term Rental Cap Rate: 5.10%
  • Short Term Rental Daily Rate: $257
  • Short Term Rental Occupancy Rate: 60%
  • Walk Score: 57

86. Annapolis MD

  • Median Property Price: $720,211
  • Average Price per Square Foot: $660
  • Days on Market: 100
  • Number of Short Term Rental Listings: 414
  • Monthly Short Term Rental Income: $5,118
  • Short Term Rental Cash on Cash Return: 4.93%
  • Short Term Rental Cap Rate: 4.98%
  • Short Term Rental Daily Rate: $362
  • Short Term Rental Occupancy Rate: 50%
  • Walk Score: 83

87. Roosevelt NY

  • Median Property Price: $532,978
  • Average Price per Square Foot: $447
  • Days on Market: 68
  • Number of Short Term Rental Listings: 134
  • Monthly Short Term Rental Income: $5,013
  • Short Term Rental Cash on Cash Return: 4.83%
  • Short Term Rental Cap Rate: 4.88%
  • Short Term Rental Daily Rate: $183
  • Short Term Rental Occupancy Rate: 52%
  • Walk Score: 80

88. Captain Cook HI

  • Median Property Price: $911,350
  • Average Price per Square Foot: $685
  • Days on Market: 155
  • Number of Short Term Rental Listings: 156
  • Monthly Short Term Rental Income: $5,960
  • Short Term Rental Cash on Cash Return: 4.69%
  • Short Term Rental Cap Rate: 4.72%
  • Short Term Rental Daily Rate: $185
  • Short Term Rental Occupancy Rate: 59%
  • Walk Score: 26

89. San Luis Obispo CA

  • Median Property Price: $1,163,174
  • Average Price per Square Foot: $697
  • Days on Market: 56
  • Number of Short Term Rental Listings: 249
  • Monthly Short Term Rental Income: $7,684
  • Short Term Rental Cash on Cash Return: 4.65%
  • Short Term Rental Cap Rate: 4.67%
  • Short Term Rental Daily Rate: $308
  • Short Term Rental Occupancy Rate: 60%
  • Walk Score: 97

90. Haiku HI

  • Median Property Price: $2,088,912
  • Average Price per Square Foot: $1,206
  • Days on Market: 125
  • Number of Short Term Rental Listings: 129
  • Monthly Short Term Rental Income: $11,821
  • Short Term Rental Cash on Cash Return: 4.52%
  • Short Term Rental Cap Rate: 4.54%
  • Short Term Rental Daily Rate: $301
  • Short Term Rental Occupancy Rate: 67%
  • Walk Score: 40

91. Evergreen CO

  • Median Property Price: $852,745
  • Average Price per Square Foot: $448
  • Days on Market: 4
  • Number of Short Term Rental Listings: 156
  • Monthly Short Term Rental Income: $5,588
  • Short Term Rental Cash on Cash Return: 4.46%
  • Short Term Rental Cap Rate: 4.49%
  • Short Term Rental Daily Rate: $280
  • Short Term Rental Occupancy Rate: 56%
  • Walk Score: 50

92. Kailua HI

  • Median Property Price: $1,831,353
  • Average Price per Square Foot: $964
  • Days on Market: 34
  • Number of Short Term Rental Listings: 205
  • Monthly Short Term Rental Income: $9,974
  • Short Term Rental Cash on Cash Return: 4.44%
  • Short Term Rental Cap Rate: 4.46%
  • Short Term Rental Daily Rate: $291
  • Short Term Rental Occupancy Rate: 60%
  • Walk Score: 53

93. Solvang CA

  • Median Property Price: $1,217,504
  • Average Price per Square Foot: $591
  • Days on Market: 28
  • Number of Short Term Rental Listings: 119
  • Monthly Short Term Rental Income: $8,238
  • Short Term Rental Cash on Cash Return: 4.40%
  • Short Term Rental Cap Rate: 4.42%
  • Short Term Rental Daily Rate: $286
  • Short Term Rental Occupancy Rate: 46%
  • Walk Score: 92

94. Ventura CA

  • Median Property Price: $998,584
  • Average Price per Square Foot: $581
  • Days on Market: 73
  • Number of Short Term Rental Listings: 216
  • Monthly Short Term Rental Income: $5,697
  • Short Term Rental Cash on Cash Return: 4.06%
  • Short Term Rental Cap Rate: 4.09%
  • Short Term Rental Daily Rate: $231
  • Short Term Rental Occupancy Rate: 58%
  • Walk Score: 42

95. Los Osos CA

  • Median Property Price: $940,500
  • Average Price per Square Foot: $591
  • Days on Market: 98
  • Number of Short Term Rental Listings: 134
  • Monthly Short Term Rental Income: $5,307
  • Short Term Rental Cash on Cash Return: 4.03%
  • Short Term Rental Cap Rate: 4.05%
  • Short Term Rental Daily Rate: $241
  • Short Term Rental Occupancy Rate: 57%
  • Walk Score: 38

96. Hood River OR

  • Median Property Price: $1,135,179
  • Average Price per Square Foot: $457
  • Days on Market: 25
  • Number of Short Term Rental Listings: 174
  • Monthly Short Term Rental Income: $6,231
  • Short Term Rental Cash on Cash Return: 4.00%
  • Short Term Rental Cap Rate: 4.03%
  • Short Term Rental Daily Rate: $273
  • Short Term Rental Occupancy Rate: 54%
  • Walk Score: 83

97. Derwood MD

  • Median Property Price: $741,470
  • Average Price per Square Foot: $363
  • Days on Market: 57
  • Number of Short Term Rental Listings: 128
  • Monthly Short Term Rental Income: $5,041
  • Short Term Rental Cash on Cash Return: 3.99%
  • Short Term Rental Cap Rate: 4.02%
  • Short Term Rental Daily Rate: $141
  • Short Term Rental Occupancy Rate: 58%
  • Walk Score: 40

98. White Salmon WA

  • Median Property Price: $937,667
  • Average Price per Square Foot: $416
  • Days on Market: 221
  • Number of Short Term Rental Listings: 133
  • Monthly Short Term Rental Income: $5,592
  • Short Term Rental Cash on Cash Return: 3.71%
  • Short Term Rental Cap Rate: 3.73%
  • Short Term Rental Daily Rate: $201
  • Short Term Rental Occupancy Rate: 62%
  • Walk Score: 72

99. Kapaa HI

  • Median Property Price: $1,522,300
  • Average Price per Square Foot: $986
  • Days on Market: 218
  • Number of Short Term Rental Listings: 317
  • Monthly Short Term Rental Income: $7,466
  • Short Term Rental Cash on Cash Return: 3.64%
  • Short Term Rental Cap Rate: 3.66%
  • Short Term Rental Daily Rate: $302
  • Short Term Rental Occupancy Rate: 54%
  • Walk Score: 7

100. Palm Springs CA

  • Median Property Price: $1,002,413
  • Average Price per Square Foot: $560
  • Days on Market: 65
  • Number of Short Term Rental Listings: 1,178
  • Monthly Short Term Rental Income: $5,358
  • Short Term Rental Cash on Cash Return: 3.60%
  • Short Term Rental Cap Rate: 3.63%
  • Short Term Rental Daily Rate: $425
  • Short Term Rental Occupancy Rate: 50%
  • Walk Score: 59

How to Find the Best Short Term Rental Investments

We hope this list of the best short term rental markets helps you start your search. But remember, this is only the beginning.

Aside from making sure that short term rental homes are legal in the location you are interested in, you must also search for a house that will earn you a positive cash flow. Successful real estate investors make smart investment decisions based on hard data that come from reliable sources. 

When looking for the best short term rental markets in 2024, you need to consider the following:

  • Reasons to visit: Why are people traveling to a certain destination? Is it for business or leisure purposes?
  • Profit potential: How much would you earn if you invest in a short term rental property in that area?

Finding out why people are going to a city is easy. On the other hand, determining a market’s profit potential involves more in-depth research. You could visit the area yourself, check out every active short term rental property, and consult with a local real estate agent. A more efficient method, however, would be to use a real estate investment platform like Mashvisor.

Mashvisor specializes in analyzing the profitability of properties for sale across the US, including Texas, Georgia, Illinois, Virginia, and many other locations that are best for rental property investing. 

We collate real estate data from the best publicly available sources like the MLS, Airbnb, and public records regularly to provide up-to-date analysis to investors like you. 

Our machine-learning algorithms then apply these data to give you a readily available analysis that is easy to understand. Thus, researching investment properties will only take a few minutes. 

5 Ways to Find Profitable Real Estate Investments Using Mashvisor

When searching for a rental home using our platform, you can take advantage of the following features:

  1. Market Finder: This tool gives you a bird’ s-eye view of different markets in the country and shows you what each one offers. It is especially useful and a time saver when checking out states with many listings. 
  2. Real Estate Heatmap: If you are looking for the best short term rental markets in Florida, for example, our heatmap will help you find them faster. This tool shows you which parts of a city have the highest or lowest cash-on-cash returns, rental income, listing price, or occupancy rate.
  3. Property Finder: This feature allows you to search up to 10 cities concurrently without having to open more tabs on your browser. It displays all of the properties in these areas, and you can narrow down your search further by setting filters like budget, rental strategy, property types, and more.
  4. Analytics: Once you find a house that interests you, click it to open its listing page. There, you will find the house’s information and description, as well as our profitability analysis of the property and its neighborhood.
  5. Short Term Rental Calculator: The profit calculator, which shows your cash flow and investment payback based on the estimated monthly income and expenses, is included on the listing page. You can also edit some of the numbers to calculate more accurately based on your specific situation.

Grow Your Vacation Rental Business in One of the Best Short Term Rental Markets

The short term rental industry in the US continues to show signs of growth in 2024. So if you’ve been aspiring to start your own short term rental business, now is probably the best time to get into it. All you need is a reliable tool like Mashvisor to help you find a lucrative property that you can rent out. Its different features will definitely help you find the best possible deals in the most profitable markets of your choice.

But what if you’re already managing one or more vacation rental properties and want to increase your profits this year? Mashvisor can help you with this as well. Mashvisor now has a vacation rental software to make your operations run smoothly and efficiently. Its features include:

  • Vacation rental channel manager: Link your accounts on different booking platforms, such as Airbnb, Booking.com, Vrbo, and more, with Mashvisor so you can sync your listings across all of these accounts and prevent double bookings. There’s no need to log into each website every time.
  • Unified inbox: Messages you receive on your linked accounts will also be synced with your Mashvisor inbox, so you can view all of your correspondence and send messages from one platform.
  • Multi-calendar: Mashvisor’s multi-calendar gives you a quick overview of all your listings so you know which property is booked on what date and what price.
  • More features coming soon!

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Ramonelle Lyerla

Ramonelle Zaragoza is a Content Manager for Mashvisor. She helps property investors and first-time homebuyers and sellers learn more about the US real estate market with in-depth research and easy-to-understand articles.

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