Florida is a supremely popular US state for tourists. Its climate is temperate and even in winter, Florida sees an average of 7 hours of sun per day. In summer, that number increases to 10 hours per day on average in May, June, and July. It boasts Walt Disney World, Miami, the Everglades, and the Kennedy Space Centre. For vacation rental property investors, Florida is a pretty safe bet. But Florida is a big place so where should people invest? Here are the best places to own Airbnb property in Florida.
Before we go into the best places to own an Airbnb property in Florida, we first need to explain how we arrived at the chosen areas and which statistics we considered in our analysis.
Which Data Insights Did We Consider in This Analysis?
Annual Occupancy Rate
To most vacation rental property investors, the Occupancy Rate is critical. It shows on average, in any given one-month period, how many days will be sold. How does this help? Well, it’s not advisable to invest in a market with an average occupancy rate of under 25%.
Average Daily Rate
The Average Daily Rate shows how much, on average, each night sells for in your target investment market. Combined with the occupancy rate, this will give you an incredibly accurate snapshot of your potential earnings in your target market.
Market Supply is just another way to say ‘total number of active listings in the area’. You can use this statistic to determine your target market’s popularity and which months see the highest demand. There are a number of reasons that hosts would temporarily remove their listings from sites like Airbnb or Vrbo. These reasons include annual renovations, hosts choosing to live in their listing property personally, or opting to rent out their property on a longer-term basis in the off-season.
Day of the Week Occupancy
The Day of the Week Occupancy shows a weekly view of the classic Occupancy Rate statistic. It’ll help you figure out whether your target market is only busy on weekends or if the booking rates are spread more evenly through the week.
Best Places to Own Airbnb Property in Florida
Miami is possibly the most well-known city in Florida. It’s synonymous with palm trees, sunny beaches, wealthy residents, and that iconic party lifestyle. This image attracts over 25 million visitors each year.
Average Daily Rate: $238 – $255
Annual Occupancy Rate: 67%
Average Annual Market Supply: 15,150
Day of the Week Occupancy: Saturday and Sunday have the highest weekly occupancy rates.
Key West is one of the most unique places in America. Forming part of the Florida Keys archipelago, Key West is synonymous with an island lifestyle, complete with cruise ships, snorkeling, coral reefs, sandy beaches, and five-star resorts.
Average Daily Rate: $500 – $525
Annual Occupancy Rate: 74%
Average Annual Market Supply: 2,700
Day of the Week Occupancy: Tuesday, Saturday, and Sunday have the highest weekly occupancy rates.
While it’s not quite the Hollywood you know, Hollywood, Florida boasts its fair share of luxury and fame. Located between Miami and Fort Lauderdale, Hollywood is known for its casinos and vibrant nightlife.
Average Daily Rate: $265 – $290
Annual Occupancy Rate: 66%
Average Annual Market Supply: 7,150
Day of the Week Occupancy: Wednesday, Saturday, and Sunday have the highest weekly occupancy rates.
San Rosa Beach
Forming part of Florida’s Emerald Coast, San Rosa Beach is far away from the loud music and party scene of Miami. Here you’ll find luxury beach houses, fine-dining restaurants, and art galleries.
Average Daily Rate: $450 – $490
Annual Occupancy Rate: 61%
Average Annual Market Supply: 5,780
Day of the Week Occupancy: Friday, Saturday, and Sunday have the highest weekly occupancy rates.
It doesn’t get more quintessentially Florida than Marco Island. Connected to the mainland by bridges and highways, Marco Island is far enough away to feel remote but connected enough to still enjoy the luxuries that Florida is known for.
Average Daily Rate: $350 – $410
Annual Occupancy Rate: 72%
Average Annual Market Supply: 3,450
Day of the Week Occupancy: Thursday, Friday, Saturday, and Sunday have the highest weekly occupancy rates.
Located on Tampa Bay, Tampa combines beach and city holidays. Busch Gardens is found in Tampa, along with a diverse range of museums, art galleries, themed restaurants, and bars.
Average Daily Rate: $155 – $168
Annual Occupancy Rate: 74%
Average Annual Market Supply: 6,100
Day of the Week Occupancy: Sunday, Monday, and Tuesday have the highest weekly occupancy rates.
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