An Airbnb host can still make a sizable profit in a tiny town.
Despite the allure of cities like New York, Los Angeles, and Philadelphia, you don’t have to reside there to make money from your side company. You can take advantage of a tiny city’s special potential if you know what characteristics make it thrive.
You might be surprised by some of these traits. Here are the top five US locations for Airbnb investments right now, along with the unique qualities that set them apart from less well-known regions and spell success.
You may learn a lot from these places whether you want to enhance an existing listing or are looking for a new rental venture.
1. Traverse City, Michigan,
An occasion or festival can bring tourists to a lesser-known city. The week-long National Cherry Festival in Traverse City, Michigan, is a vibrant celebration of produce and the people who raise it. Families come from all over the country to visit the attractions and take part in the endearing regional customs.
Investigate the neighborhood when looking for fresh places for your next rental property. Even a little, unnoticed city might be very valuable. Living in the country, the suburbs or the city each has its distinctive qualities and depending on where you are, and you can sell your vacation rental differently. Although there may not be much activity in your city, you may convince visitors that the area is charming or that it is a calm place.
2. Asheville, North Carolina
There are other cities with vibrant art scenes than New York. Asheville, North Carolina, has no shortage of art galleries and museums, including one house featuring works by renowned French impressionist Auguste Renoir. Asheville is one of many well-liked Airbnb locations since it attracts both amateurs and pros.
Your neighborhood’s music and art scene will enhance your property’s appeal if you correctly advertise. Travelers want to experience the local culture, so pointing them on the proper path will greatly earn them a favorable review. Consider compiling a list of fascinating locations to help visitors navigate your city and to improve the SEO of your vacation rental website.
3. Ithaca, New York,
A university nearby has the potential to enhance Airbnb’s occupancy rate significantly. Cornell University and Ithaca College are located in Ithaca, New York, attracting out-of-town visitors with their families. Airbnb is a popular choice for visiting parents looking for a cheap alternative to hotels for their overnight stays.
There may need to be more open rooms in neighboring hotels in some college towns with a large number of students to accommodate the rush of guests attending yearly events like graduation. Several times a year, a rental property in one of these areas can be especially profitable, providing a reliable revenue stream.
4. Bend, Oregon
Some tourists appreciate the commotion of city life, feeling at ease in the throngs on a crowded sidewalk beneath lofty skyscrapers. Other tourists favor the calm quiet of nature, with its breathtaking views and serene lakes where they may unwind and recharge. The latter person is catered to in Bend, Oregon.
This little city attracts visitors with its peaceful atmosphere and beautiful surroundings. An Airbnb host can rely on something other than a city’s inherent allure to recruit visitors. Instead, they can benefit from the natural beauty of the setting. If your house is near a body of water or other natural beauty, include it in your listings and showcase the expansive views in your professional images.
5. Portsmouth, Virginia,
Portsmouth, Virginia, does exceptionally well on Airbnb despite not being a traditionally popular tourist location. Its popularity has a strange explanation. The city has a naval shipyard, which appeals to a particular group of people and gives it a cap rate of 9.7%.
Even if the idea of a naval shipyard doesn’t appeal to you personally, others could be drawn to your small city’s unique landmarks. Finding these landmarks, making the most of them, and then mentioning them in the listing’s description are the key steps. You might have access to resources you weren’t even aware of.
How Is Profitability Determined?
Beyond polite behavior and comfortable lodgings, location is essential for a successful Airbnb. Even though operating in a large city is profitable, depending on the local culture, institutions, environment, and other influencing elements, generating money in a smaller city is possible.
The point still stands: a pessimistic outlook needs to be justified by the size of the metropolis. You can create a successful Airbnb in any location with a little effort and optimism.