Rented, Inc. Releases Report on Top 100 Places to Buy Vacation Rental Property in 2021
ATLANTA, 22 December 2021 / PRNewswire / – Rented, Inc., today announced its sixth annual report on 100 Best Places to Buy Vacation Rental Property in 2021, providing an overview of the most profitable cities for rental property investment and how that profitability varies each year.
“In the past two years, travel has been disrupted. Demand continues to vary widely, with significant growth in the drive markets. Skipping the flight and creating a working holiday is a trend that we started to see in 2020 and is continuing, ”said Andrew McConnell, CEO of Rented, Inc. “The Rented Report helps both buyers and owners of rental properties, as well as professional vacation rental property managers, understand the dynamics of the vacation rental market and refine their search for the most profitable cities. “
The “Best Places to Buy” in 2021 includes some repeats and some surprises from reports from previous years. Of the top 25 cities, eight were on the previous two lists and six were on all of Rented.com’s previous annual reports. The top five cities in 2021 mainly included southern or seaside destinations.
The top five real estate markets with the highest return on investment (ROI) for rental properties in 2021 include:
- Pensacola, Florida
- Pigeon Forge, Tennessee
- Virginia Beach, Virginia
- Corpus Christi, Texas
- Daytona Beach, Florida
The return on investment of owning a rental property is determined by comparing the costs of home ownership to the potential for short-term rentals in various US rental markets. Factors influencing these numbers include purchase price, insurance, taxes, maintenance costs, popularity of the destination, local rental rates, etc.
COVID Impacts Vacation Rental Trends
The overall picture for 2021 is mixed. For markets that depended on air travel, urban markets and international locations, COVID has caused demand to decline indefinitely. And at the time of writing, even as foreign travel bans are lifted, more people get vaccinated and cities relax their restrictions, the future of these markets remains uncertain. .
But other markets, including those within driving distance of large urban centers, have seen huge increases in occupancy and ADR, especially during off-peak hours when working remotely and virtual schooling continued. However, the Omnicron variant has increased after its discovery in late November, and it will be interesting to see how this latest change impacts the industry around 2022 and beyond.
See the full report 2021 for more market trends and details on how ROI was calculated.
Media contact: Debi Stiegerwald, [email protected] (727) 244-6769
SOURCE Rented, Inc.