A temperate climate is a must to have a good vacation. If you were born and raised in a state with rough winters, your first visit to Florida is going to be a dream come true. Ironically, you do not need cold in Florida, well, except for that sweaty beer out in the sunshine.
Not to mention, it has vacation weather all year round. With the temperate weather year-round, Florida benefits from an ongoing tourist scene and remains a vacation destination for tourists.
And what do these tourists need? An accommodation and location worthy of this beautiful, green and beachy vacation destination. So, what about Airbnb rentals in Florida? And where should you go for an investment there?
In any case of Airbnb rentals, you must find the right qualifications for a successful rental property. It must generate a certain amount of rental income along with a high occupancy rate. For this reason, real estate investors have spread out all over the state to invest in short-term rentals and made sure to capitalize on this growing trend in Florida’s real estate market.
In 2017, Florida Airbnb hosts made $450 million through rental income altogether! Do you wish to have a stake in it? The way is to invest in Airbnb rentals in Florida.
What Are the Best Cities to Invest in Airbnb Rentals in Florida?
First and foremost, short-term rentals and vacation home rentals are becoming the next best thing to invest in Florida. If you’re more interested in traditional rentals in Florida, read this blog post: What to Consider Before Buying Property in Florida as a Real Estate Investment.
We’ve made use of Mashvisor’s investment property calculator to give you the best possible investment locations.
Delray Beach
Delray Beach is not your typical metropolitan city destination. Somehow it manages to remain a busy center for arts and galleries. The Moricami Museum and Japanese gardens are an enjoyable destination year-round. Besides that, Delray beach is popular among Airbnb rentals in Florida.
Delray Beach real estate stats to know, according to Mashvisor:
- Median Listing Price: $508,072
- Median Traditional Rental Income: $1,415
- Median Airbnb Rental Income: $2,701
- Average Airbnb Cap Rate: 3.43%
If you’re looking for higher cap rate Airbnb properties, you can use Mashvisor’s property finder feature for free! Click here to make use of your 14-day free trial.
West Palm Beach
West Palm Beach makes for a smart location for a real estate investment, even for the 45th president of the United States, Donald Trump! With beautiful beaches and sunny weather year-round, it makes for the best Airbnb rentals in Florida.
As a matter of fact, the city is crawling with restaurants, bars, and entertainment venues. Whether you’re going for a beach condo, apartment, house, or even a studio apartment, West Palm Beach makes perfect sense for renting out on Airbnb.
West Palm Beach real estate stats to know:
- Median Listing Price: $379,734
- Median Traditional Rental Income: $2,206
- Median Airbnb Rental Income: $2,288
- Average Airbnb Cap Rate: 1.94%
St. Petersburg
St. Petersburg is a part of the Tampa Bay area, making it profitable for Airbnb rentals in Florida. At the same time, St. Petersburg is famous for its beaches, golf courses, fishing, and sail boating. Besides that, the city has a good number of museums and entertainment venues to attract tourists.
St. Petersburg real estate stats to know:
- Median Listing Price: $407,222
- Median Traditional Rental Income: $1,507
- Median Airbnb Rental Income: $2,019
- Average Airbnb Cap Rate: 2.39%
Fort Myers
Fort Myers has seen rapid growth in the past few years. The city’s population is growing, attracting more and more real estate investors and residents to it. The city offers a comfortable lifestyle to both residents and visitors, thus, making it the best for Airbnb rentals in Florida. Whether for traditional rentals or Airbnb rentals, real estate investing is quite lucrative for those who do it right in the city.
Fort Myers real estate stats to know:
- Median Listing Price: $323,070
- Median Traditional Rental Income: $1,430
- Median Airbnb Rental Income: $2,244
- Average Airbnb Cap Rate: 1.71%
Tampa
To begin with, Tampa is alive with its museums and cultural density. Not to mention, it was a major business central back in the day and remains as busy and crowded as ever. In fact, the population density in Tampa makes for the perfect conditions to buy an investment property or invest in Airbnb rentals in Florida.
In any case, whether you own Airbnb rentals or traditional rentals, you can make Tampa work for you. Given these points, if you wish to know more about Tampa real estate, read this blog post: Tampa Real Estate Is a Hot Market! Here’s Why.
Tampa real estate stats to know:
- Median Listing Price: $368,521
- Median Traditional Rental Income: $1,586
- Median Airbnb Rental Income: $1,481
- Average Airbnb Cap Rate: 2.03%
Key West
Last but not least, the city of Key West- a beautiful southern destination littered with lovely cabana-like houses. Additionally, Key West implies luxury and relaxation, which is why it’s among the top places for Airbnb rentals in Florida. Furthermore, many choose to rent out their investment properties as traditional rentals, but for Key West real estate, you are far better off renting out on Airbnb.
Key West real estate stats to know:
- Median Listing Price: $1,065,361
- Median Traditional Rental Income: $1,855
- Median Airbnb Rental Income: $8,617
- Average Airbnb Cap Rate: 7.56%
The city is a great location for investment property as more and more companies are buying income-generating assets within its proximity. At the same time, Key West is Florida’s second busiest tourist destination. However, if you’re a real estate investor who’s interested in a metropolitan city type of real estate, Miami offers that. This blog post will be useful for you: Should You Invest in the Miami Real Estate Market Any Time Soon?
Above all, these beautiful Florida destinations lay in the south of the nation, making it the perfect combination of beautiful weather and constant tourism year-round. Of course, this raises your return on investment to the max. All in all, it’s blooming time for residential real estate in Florida.
With this in mind, if you have any more insights about destinations fit for Airbnb rentals in Florida, don’t hesitate about sharing them with us in the comments section.
To start looking for and analyzing the best investment properties in the Florida real estate market, click here.