Did you know that 30 percent of vacation property owners and 32 percent of investment property owners rented out their homes as short-term rentals in 2018? The vacation rental market is booming, and it is hard to keep up with the latest data. If you are looking to invest in vacation rentals, it is helpful to know what other vacation rentals are generating and where other investors are purchasing. That's why we pulled 14 of the most interesting vacation rental market statistics from BuildUp’s 2019 Vacation Rental Statics report:
The median square feet of a vacation rental investment property is 1,500.
34% of investors purchased their vacation rental in a suburb or subdivision.
24% of investors purchased their vacation rental in a small town.
19% of investors purchased their vacation rental in an urban area.
33% of investors purchased their vacation rental in a beach area.
21% of investors purchased lake front vacation rentals.
29% of vacation rentals are owned by more than one person.
The average nightly vacation rental rate in America is $217 per night.
In 2018, 20% of the global vacation rental companies were in the United States, and 60% were in Europe.
52% of investors bought a detached single-family rental home.
The average 3-bedroom vacation rental brings in $98,688 per year.
The average 1-bedroom vacation rental brings in about $38,490 per year.
As of 2018, there were 23,000 vacation rental companies in the United States.
Vacation rental revenue in the United States is expected to grow at an annual rate of 7.2%
Disclaimer: The information in this blog has been prepared solely for informational purposes. The contents are based upon or derived from information generally believed to be reliable although Visio Lending accepts no liability with regard to the user's reliance on it. For legal advice, please contact your counsel.