40 Cities With the Highest Average Airbnb Daily Rate

Knowing the Airbnb statistics by city and comparing Airbnb daily rates can help you decide which area is best for short term rental investing.

Table of Contents

1. Why Is Airbnb Daily Rate Important?
2. Cities With the Highest Airbnb Daily Rate
3. How to Set the Right Airbnb Rental Rate
4. Know the Airbnb Laws and Regulations in Your Chosen City

The short term rental market is one of the most lucrative real estate investment options available. Since many tourists nowadays prefer to stay in Airbnb rentals rather than in expensive hotels, many Airbnb owners benefit from the high demand. However, when investing in Airbnb, it’s crucial to choose the location carefully.

While the demand for short term rentals is expected to continue growing all throughout the year , not all locations are ideal for investing in Airbnb. When choosing a city to invest in, make sure that the demand for vacation rentals there is high. Of course, cities that are home to a variety of tourist attractions are preferable.

If you are planning to invest in vacation rentals, one of the most important factors that you should consider when deciding which areas to invest in is the Airbnb daily rate. The average Airbnb daily rate shows the average earnings a short term rental property generates in a given time period.

With the availability of advanced technology, investors can easily find the average Airbnb daily rates in different Airbnb markets without doing it manually. The most efficient way to do it is through a real estate analytics platform like Mashvisor. Using Mashvisor provides you access to Airbnb statistics by city, including the Airbnb daily rate. 

Why Is Airbnb Daily Rate Important?

As investors, knowing and charging the right Airbnb daily rate in your chosen location can help you attract potential guests and maximize your profits. Before you decide on a place for a short term rental investment, it’s necessary to analyze the Airbnb data in some cities that you are interested in.

The average Airbnb daily rate can tell how profitable a short term rental property is. The figure can also help you make comparisons with other vacation rental competitors nearby. By studying your competitors, you’ll get an idea of how your investment will work. Further, it will also give you an insight into how much you can charge for your short term rental property.

If you charge way too much compared to the average daily rate of Airbnb properties in your area, you’ll risk not getting your property occupied. On the other hand, if you charge way too little, you may not maximize your earnings and won’t be able to generate sufficient Airbnb rental income to cover your costs.

 

 

Benefits of Knowing the Airbnb Daily Rate

In general, knowing the Airbnb statistics by city, specifically the average Airbnb daily rates, can help you:

• Understand the demand: Usually, if the average Airbnb daily rate in a city is high, it means that there is a high demand for short term rentals with only a few listings. In contrast, if the average Airbnb daily rate is low, the demand may also be scarce despite many available listings in the area.
• Identify the area’s profitability potential: If you’re comparing several investment properties in different locations, finding the average Airbnb daily rate can help you identify which location offers the highest income potential.
• Determine the right Airbnb rate: Since most vacation rentals are seasonal, it’s normal for the rates to fluctuate every now and then. By studying the Airbnb daily rates by city, you’ll be able to determine the right price to charge your rentals based on the average.

Before investing in a vacation rental, it’s essential to do your research and make an Airbnb analysis so you’ll know how much you should charge for a short term rental property. This way, you can set your own competitive short term rental price and ensure that your vacation property will be rented while maximizing your income potential.

Cities With the Highest Airbnb Daily Rate

If you want to know which cities are best for investing in vacation rentals, you need to take a look at the average Airbnb daily rate by city. To help you find the best cities for vacation rental investment, we’ve listed the top 50 cities with the highest average daily rate figures, ranging from above $400 to over $800. 

It’s important to note that we only included locations with an average Airbnb occupancy rate of 50% and above and an average monthly rental income of not lower than $2,000. In addition, we only considered properties with a cash on cash return of 2% or higher, as well as a median price of below $1 million.

The figures below are based on Mashvisor data. The estimates included in the list were calculated using Mashvisor’s Airbnb calculator. The calculator runs a comprehensive Airbnb data analysis to help investors make the right decision when it comes to their investments.

Here are the top 40 cities with the highest average daily rate for short term rentals:

1. San Leandro, CA

• Median Property Price: $827,990
• Average Price per Square Foot: $565
• Days on Market: 45
• Number of Airbnb Listings: 104
• Monthly Airbnb Rental Income: $3,934
• Airbnb Cash on Cash Return: 2.23%
• Airbnb Cap Rate: 2.25%
• Airbnb Daily Rate: $650
• Airbnb Occupancy Rate: 57%
• Walk Score: 56

San Leandro is home to some of the best skiing and snowboarding resorts in California, and visitors enjoy cross-country skiing and ice skating activities. Plus, it is one of the most visited locations all year round, too. The city attracts all types of visitors, including families with kids, couples, groups of friends, and solo travelers—most of whom prefer to stay in an Airbnb home.

Click here to search for Airbnb properties for sale in San Leandro, CA.

2. Asbury Park, NJ

• Median Property Price: $818,293
• Average Price per Square Foot: $510
• Days on Market: 82
• Number of Airbnb Listings: 109
• Monthly Airbnb Rental Income: $5,725
• Airbnb Cash on Cash Return: 4.38%
• Airbnb Cap Rate: 4.42%
• Airbnb Daily Rate: $422
• Airbnb Occupancy Rate: 53%
• Walk Score: 91

With a high walk score of 91, Asbury Park is one of the most convenient cities that’s ideal for tourists. As a small seaside city, Asbury Park is known for its beautiful, sandy shores. Visitors also love its beachfront boardwalk lined with arcades, shops, and cafes. It is a great destination for those who love music and history, making it a good Airbnb investment location, too.

3. Oakhurst, NJ

• Median Property Price: $898,589
• Average Price per Square Foot: $531
• Days on Market: 80
• Number of Airbnb Listings: 341
• Monthly Airbnb Rental Income: $5,745
• Airbnb Cash on Cash Return: 3.82%
• Airbnb Cap Rate: 3.85%
• Airbnb Daily Rate: $363
• Airbnb Occupancy Rate: 50%
• Walk Score: 17

Oakhurst is a great city for tourists who love arts, music, and theater performances. It offers a rural feel, which attracts visitors who want an escape from their usual urban life. It is also home to various tourist attractions, including the kid-friendly ones. With a high average monthly income of $5,745, investing in the Oakhurst short term rental market is an excellent idea.

4. Annapolis, MD

• Median Property Price: $791,258
• Average Price per Square Foot: $366
• Days on Market: 119
• Number of Airbnb Listings: 370
• Monthly Airbnb Rental Income: $5,554
• Airbnb Cash on Cash Return: 5.29%
• Airbnb Cap Rate: 5.37%
• Airbnb Daily Rate: $362
• Airbnb Occupancy Rate: 50%
• Walk Score: 83

Annapolis is the state capital of Maryland. It is a picturesque community with beautiful historic buildings and scenic ocean views. It is home to some of the best museums and historic sites, making it an attractive destination for the artistically and culturally inclined. With a high cash on cash return of 5.29%, Annapolis is an excellent option for investing in vacation rentals.

5. Neptune, NJ

• Median Property Price: $472,680
• Average Price per Square Foot: $310
• Days on Market: 55
• Number of Airbnb Listings: 425
• Monthly Airbnb Rental Income: $5,301
• Airbnb Cash on Cash Return: 6.99%
• Airbnb Cap Rate: 7.09%
• Airbnb Daily Rate: $357
• Airbnb Occupancy Rate: 51%

Home to a variety of tourist destinations, Neptune is one of the best places for investing in vacation rentals. It offers a high cash on cash return of 6.99%, which means that your potential for earning good profits is high. The city is home to and near several attractions, like boardwalks, shopping centers, and beaches. 

6. Escondido, CA

• Median Property Price: $881,536
• Average Price per Square Foot: $469
• Days on Market: 60
• Number of Airbnb Listings: 131
• Monthly Airbnb Rental Income: $6,264
• Airbnb Cash on Cash Return: 4.63%
• Airbnb Cap Rate: 4.68%
• Airbnb Daily Rate: $344
• Airbnb Occupancy Rate: 51%
• Walk Score: 42

If you want to cater to adventurers and outdoor goers, investing in the Escondido short term rental market is a good city to invest in. Escondido is known for its fine wineries, craft breweries, arts and culture, historical and archeological sites, and several outdoor activities. Some of the most visited locations are the Deer Park Monastery, Dixon Lake, and Lake Hodges.

7. Lake Geneva, WI

• Median Property Price: $538,224
• Average Price per Square Foot: $324
• Days on Market: 83
• Number of Airbnb Listings: 171
• Monthly Airbnb Rental Income: $5,033
• Airbnb Cash on Cash Return: 6.49%
• Airbnb Cap Rate: 6.62%
• Airbnb Daily Rate: $329
• Airbnb Occupancy Rate: 56%
• Walk Score: 75

Lake Geneva is one of the most beautiful destinations in Wisconsin, with its scenic views, delectable dining experience, and outdoor activities. Its continental climate makes it a great place to invest in vacation rentals. Tourists visit at any time of the year because they will always find different things to do depending on the season. 

8. El Cajon, CA

• Median Property Price: $818,046
• Average Price per Square Foot: $498
• Days on Market: 58
• Number of Airbnb Listings: 104
• Monthly Airbnb Rental Income: $4,694
• Airbnb Cash on Cash Return: 3.50%
• Airbnb Cap Rate: 3.52%
• Airbnb Daily Rate: $323
• Airbnb Occupancy Rate: 51%
• Walk Score: 93

Another great place for Airbnb investing, El Cajon is home to and near several top attractions. They include the Water Conservation Garden, Heritage of the Americas Museum, Olaf Wieghorst Museum and Western Heritage Center, and so much more. Its picturesque mountains offer abundant recreational activities for those who love the great outdoors. 

9. Fontana, WI

• Median Property Price: $511,114
• Average Price per Square Foot: $417
• Days on Market: 80
• Number of Airbnb Listings: 144
• Monthly Airbnb Rental Income: $4,357
• Airbnb Cash on Cash Return: 5.78%
• Airbnb Cap Rate: 5.94%
• Airbnb Daily Rate: $323
• Airbnb Occupancy Rate: 53%
• Walk Score: 30

Fontana is home to a marina and sandy beach, making it a great place for those who love water sports. In addition, Fontana is also known for its various fairs and festivals, which is why it is a famous destination among both local and international visitors. Investing in Fontana Airbnb is a good idea, especially because it offers a high cap rate of 5.94%.

10. Manahawkin, NJ

• Median Property Price: $559,535
• Average Price per Square Foot: $324
• Days on Market: 67
• Number of Airbnb Listings: 103
• Monthly Airbnb Rental Income: $4,704
• Airbnb Cash on Cash Return: 5.48%
• Airbnb Cap Rate: 5.54%
• Airbnb Daily Rate: $318
• Airbnb Occupancy Rate: 50%
• Walk Score: 51

One of the reasons why Manahawkin is a popular tourist destination is that it is the gateway to Long Beach Island, a beautiful little community that provides excellent access to local beaches. Among the popular attractions near Manahawkin are Long Beach Island, Seaside Heights, and Atlantic City.

11. Holland, MI

• Median Property Price: $695,907
• Average Price per Square Foot: $333
• Days on Market: 50
• Number of Airbnb Listings: 200
• Monthly Airbnb Rental Income: $5,101
• Airbnb Cash on Cash Return: 5.61%
• Airbnb Cap Rate: 5.71%
• Airbnb Daily Rate: $301
• Airbnb Occupancy Rate: 57%
• Walk Score: 81

If you want to take advantage of a high Airbnb cash on cash return, the Holland Airbnb market is an excellent option. Holland is a town that is frequently visited by tourists, holiday-goers, and business travelers. It means Airbnb owners can expect a wide range of guests. It is also home to various attractions, such as Holland Aquatic Center, DeGraaf Nature Center, and more.

12. Geneva, NY

• Median Property Price: $585,096
• Average Price per Square Foot: $388
• Days on Market: 43
• Number of Airbnb Listings: 135
• Monthly Airbnb Rental Income: $4,598
• Airbnb Cash on Cash Return: 3.85%
• Airbnb Cap Rate: 3.91%
• Airbnb Daily Rate: $301
• Airbnb Occupancy Rate: 50%
• Walk Score: 73

What’s great about Geneva, NY is that it is near a wide selection of destinations where tourists usually flock. Among the attractions include the Seneca Lake State Park, Ventosa Vineyards, Geneva History Museum, and so much more. The city is one of the favorite destinations for weddings, honeymoons, and romantic getaways. 

13. Canandaigua, NY

• Median Property Price: $431,741
• Average Price per Square Foot: $250
• Days on Market: 55
• Number of Airbnb Listings: 127
• Monthly Airbnb Rental Income: $3,886
• Airbnb Cash on Cash Return: 4.87%
• Airbnb Cap Rate: 4.94%
• Airbnb Daily Rate: $296
• Airbnb Occupancy Rate: 50%
• Walk Score: 78

With a median property price of only $431,741, investors who are looking for an affordable city to invest in Airbnb rentals may find Canandaigua a valuable option. Some of the top attractions to visit in Canandaigua are the Sonnenberg Gardens and Mansion State Historical Park, Kershaw Park, Canandaigua City Pier, and Canandaigua Lake.

14. Woodstock, NY

• Median Property Price: $862,582
• Average Price per Square Foot: $411
• Days on Market: 79
• Number of Airbnb Listings: 218
• Monthly Airbnb Rental Income: $5,864
• Airbnb Cash on Cash Return: 4.11%
• Airbnb Cap Rate: 4.16%
• Airbnb Daily Rate: $292
• Airbnb Occupancy Rate: 54%
• Walk Score: 46

Woodstock is an upstate New York mountain town located at the foot of the Catskill Mountains. The town is known for its art galleries, boutiques, spiritual centers, educational centers, nature preserves, hiking trails, good food, and outdoor markets. Some of the most famous destinations in Woodstock include Catskill Park, Ashokan Reservoir, and Opus 40.

15. Vista, CA

• Median Property Price: $860,804
• Average Price per Square Foot: $478
• Days on Market: 53
• Number of Airbnb Listings: 157
• Monthly Airbnb Rental Income: $5,239
• Airbnb Cash on Cash Return: 3.39%
• Airbnb Cap Rate: 3.43%
• Airbnb Daily Rate: $290
• Airbnb Occupancy Rate: 57%
• Walk Score: 47

Vista is another city in San Diego County, California that is often flocked by tourists all year round. It is a great place for investing in short term rentals because of the increasing rate of vacation-goers in this city. Visitors love to experience the dining scene in Downtown Vista, as well as marvel at the beautiful sights of the Alta Vista Botanical Gardens.

16. Middletown, NJ

• Median Property Price: $635,865
• Average Price per Square Foot: $300
• Days on Market: 67
• Number of Airbnb Listings: 100
• Monthly Airbnb Rental Income: $5,339
• Airbnb Cash on Cash Return: 5.26%
• Airbnb Cap Rate: 5.35%
• Airbnb Daily Rate: $290
• Airbnb Occupancy Rate: 51%
• Walk Score: 28

With a high average monthly rental income of $5,339, the Middletown Airbnb market is an attractive city to invest in. Home to different attractions, such as the Deep Cut Gardens, Huber Woods Park, and Ideal Beach, Middletown is also one of the most visited cities in New Jersey.

17. Melbourne Beach, FL

• Median Property Price: $922,586
• Average Price per Square Foot: $464
• Days on Market: 66
• Number of Airbnb Listings: 106
• Monthly Airbnb Rental Income: $3,981
• Airbnb Cash on Cash Return: 2.07%
• Airbnb Cap Rate: 2.10%
• Airbnb Daily Rate: $286
• Airbnb Occupancy Rate: 50%
• Walk Score: 53

Who would want to miss the beautiful sandy beaches and warm climate of Melbourne Beach in Florida? Florida is one of the most favorite states to visit because of its picturesque scenery and pleasant weather conditions. As an Airbnb owner in Melbourne Beach, there’s a good chance to attract guests at almost any time of the year.

18. New Paltz, NY

• Median Property Price: $807,244
• Average Price per Square Foot: $370
• Days on Market: 103
• Number of Airbnb Listings: 153
• Monthly Airbnb Rental Income: $6,544
• Airbnb Cash on Cash Return: 5.33%
• Airbnb Cap Rate: 5.40%
• Airbnb Daily Rate: $286
• Airbnb Occupancy Rate: 53%
• Walk Score: 74

New Paltz is an awesome city to visit for those who want to escape the buzzing urban life. It is surrounded by Ulster County’s Shawangunk Mountains, making it a perfect destination for those who want to enjoy history and natural beauty. If you invest in New Paltz vacation rentals, you’ll attract visitors who love activities such as hiking, cycling, climbing, and horseback riding.

19. Henderson, NV

• Median Property Price: $620,007
• Average Price per Square Foot: $291
• Days on Market: 63
• Number of Airbnb Listings: 577
• Monthly Airbnb Rental Income: $4,084
• Airbnb Cash on Cash Return: 4.48%
• Airbnb Cap Rate: 4.55%
• Airbnb Daily Rate: $280
• Airbnb Occupancy Rate: 52%
• Walk Score: 23

The city of Henderson is also a good location for Airbnb rentals. It is because of the high demand from both local and international visitors all year round. The city is home to luxury resorts, casinos, shops, outlet malls, and restaurants. Henderson is also a great place for outdoor activities, with 10 golf courses and over 45 parks.

20. Milford, CT

• Median Property Price: $578,681
• Average Price per Square Foot: $320
• Days on Market: 61
• Number of Airbnb Listings: 111
• Monthly Airbnb Rental Income: $4,617
• Airbnb Cash on Cash Return: 4.74%
• Airbnb Cap Rate: 4.84%
• Airbnb Daily Rate: $279
• Airbnb Occupancy Rate: 60%
• Walk Score: 54

Milford is a great destination for visitors who love high-quality arts and crafts shows, as well as festivals and events. It is also home to various water activities. Among the popular attractions in Milford include the Milford Lisman Landing Marina, Silver Sands State Park, and a number of city beaches.

21. Greenland, NH

• Median Property Price: $933,806
• Average Price per Square Foot: $377
• Days on Market: 25
• Number of Airbnb Listings: 102
• Monthly Airbnb Rental Income: $6,022
• Airbnb Cash on Cash Return: 4.00%
• Airbnb Cap Rate: 4.05%
• Airbnb Daily Rate: $279
• Airbnb Occupancy Rate: 57%
• Walk Score: 39

With a high average monthly income of $6.022, the Greenland Airbnb market is one of the most sought-after locations for investing in vacation rentals. Greenland is home and close to some of New Hampshire’s top tourist sights, including Stratham Hill Park, Great Bay, Sagamore-Hampton Golf Club, and more.

22. Mammoth Lakes, CA

• Median Property Price: $822,531
• Average Price per Square Foot: $704
• Days on Market: 127
• Number of Airbnb Listings: 350
• Monthly Airbnb Rental Income: $4,203
• Airbnb Cash on Cash Return: 2.71%
• Airbnb Cap Rate: 2.74%
• Airbnb Daily Rate: $274
• Airbnb Occupancy Rate: 52%
• Walk Score: 62

Mammoth Lakes, CA is another city that is frequently visited by local and international tourists. Visitors love the outdoor attractions of Mammoth Lakes, such as the Mammoth Mountain Ski Area, the John Muir trail, Convict Lake, and Rainbow Falls. Investing in an Airbnb property in the town also offers you the opportunity to earn a monthly income of over $4,000.

23. Chula Vista, CA

• Median Property Price: $784,108
• Average Price per Square Foot: $452
• Days on Market: 57
• Number of Airbnb Listings: 251
• Monthly Airbnb Rental Income: $5,500
• Airbnb Cash on Cash Return: 4.15%
• Airbnb Cap Rate: 4.20%
• Airbnb Daily Rate: $271
• Airbnb Occupancy Rate: 60%
• Walk Score: 29

Being the second largest city in the San Diego metropolitan area, Chula Vista is another location that is best for investing in Airbnb rentals. Airbnb owners in Chula Vista get a chance to earn an average monthly rental income of $5,500. Also, since the city is home to several tourist attractions, it enjoys a high occupancy rate of 60%, which is expected to increase this year and beyond.

24. Anaheim, CA

• Median Property Price: $825,103
• Average Price per Square Foot: $538
• Days on Market: 53
• Number of Airbnb Listings: 786
• Monthly Airbnb Rental Income: $5,952
• Airbnb Cash on Cash Return: 4.54%
• Airbnb Cap Rate: 4.57%
• Airbnb Daily Rate: $270
• Airbnb Occupancy Rate: 64%
• Walk Score: 51

Home to the famous Disneyworld, Anaheim is one of the most visited cities in California and the whole US. In fact, even with 786 available short term rental listings, Airbnb owners still get to enjoy an average monthly income of almost $6,000. If you want to attract guests at any time of the year, Anaheim is the best city to consider.

25. Oceanside, CA

• Median Property Price: $950,555
• Average Price per Square Foot: $629
• Days on Market: 58
• Number of Airbnb Listings: 637
• Monthly Airbnb Rental Income: $5,433
• Airbnb Cash on Cash Return: 3.76%
• Airbnb Cap Rate: 3.80%
• Airbnb Daily Rate: $270
• Airbnb Occupancy Rate: 50%
• Walk Score: 35

Oceanside, CA offers a lot to its visitors, including indoor skydiving experience, dolphin and whale watching, and surfing lessons. It also boasts a variety of museums and historical sites. If you invest in Oceanside Airbnb, you can take advantage of a high average monthly income of over $5,000.

26. Round Rock, TX

• Median Property Price: $542,225
• Average Price per Square Foot: $244
• Days on Market: 71
• Number of Airbnb Listings: 183
• Monthly Airbnb Rental Income: $3,391
• Airbnb Cash on Cash Return: 2.91%
• Airbnb Cap Rate: 2.96%
• Airbnb Daily Rate: $266
• Airbnb Occupancy Rate: 51%
• Walk Score: 14

Round Rock boasts a wide range of attractive sites, including scenic parks and an Instagram-worthy downtown area. It is the perfect location for those who want to head outdoors and stay away from the hustle and bustle of big cities. Investing in Round Rock Airbnb is a great idea because the place welcomes lots of visitors at any time of the year.

27. Cape Charles, VA

• Median Property Price: $778,746
• Average Price per Square Foot: $347
• Days on Market: 134
• Number of Airbnb Listings: 110
• Monthly Airbnb Rental Income: $4,955
• Airbnb Cash on Cash Return: 4.42%
• Airbnb Cap Rate: 4.46%
• Airbnb Daily Rate: $266
• Airbnb Occupancy Rate: 61%
• Walk Score: 58

Cape Charles is another city that’s best suited for visitors looking to explore the great outdoors. One of the most popular sights in Cape Charles is the Chesapeake Bay, which offers a lot of entertainment options, such as swimming and jet skiing. There are also kid-friendly activities and attractions ideal for family vacationers.

28. Glenwood Springs, CO

• Median Property Price: $994,275
• Average Price per Square Foot: $433
• Days on Market: 154
• Number of Airbnb Listings: 159
• Monthly Airbnb Rental Income: $4,427
• Airbnb Cash on Cash Return: 2.74%
• Airbnb Cap Rate: 2.77%
• Airbnb Daily Rate: $263
• Airbnb Occupancy Rate: 50%
• Walk Score: 62

Glenwood Springs is known for its hot springs. Being one of the most frequented cities in Colorado, investing in Glenwood Springs Airbnb rentals is an excellent idea. Aside from its hot springs, Glenwood Springs also offers year-round activities for its visitors, including hiking, biking, and music festivities.

29. Hudson, NY

• Median Property Price: $770,966
• Average Price per Square Foot: $353
• Days on Market: 70
• Number of Airbnb Listings: 249
• Monthly Airbnb Rental Income: $4,976
• Airbnb Cash on Cash Return: 4.54%
• Airbnb Cap Rate: 4.59%
• Airbnb Daily Rate: $262
• Airbnb Occupancy Rate: 51%
• Walk Score: 86

Hudson is another city in New York that is also a great location for Airbnb investing. It is home to a variety of top tourist destinations, including the FASNY Museum of Firefighting, Olana State Historic Site, Hudson Athens Lighthouse, and Promenade Hill Park. Because New York is a top destination among international tourists, investing in Hudson offers a lot of lucrative opportunities for investors. 

30. Emerald Isle, NC

• Median Property Price: $899,087
• Average Price per Square Foot: $454
• Days on Market: 81
• Number of Airbnb Listings: 221
• Monthly Airbnb Rental Income: $4,437
• Airbnb Cash on Cash Return: 2.90%
• Airbnb Cap Rate: 2.93%
• Airbnb Daily Rate: $260
• Airbnb Occupancy Rate: 51%
• Walk Score: 2

Investors in North Carolina may consider buying an Airbnb rental property in Emerald Isle. With a high average monthly rental income of $4,437, investors can earn substantial returns. Emerald Isle is a famous vacation spot for families with kids who love the beaches. Among the activities visitors can enjoy include fishing and sea turtle watching.

31. Gainesville, GA

• Median Property Price: $529,885
• Average Price per Square Foot: $718
• Days on Market: 85
• Number of Airbnb Listings: 139
• Monthly Airbnb Rental Income: $4,348
• Airbnb Cash on Cash Return: 5.30%
• Airbnb Cap Rate: 5.41%
• Airbnb Daily Rate: $256
• Airbnb Occupancy Rate: 52%
• Walk Score: 75

Gainesville is an excellent city to invest in Airbnb because of its many attractions. It offers many recreational opportunities, including canoeing and kayaking. Its downtown area is filled with numerous shops and restaurants. Plus, it is also home to a number of museums and historical spots.

32. Ithaca, NY

• Median Property Price: $506,311
• Average Price per Square Foot: $243
• Days on Market: 75
• Number of Airbnb Listings: 345
• Monthly Airbnb Rental Income: $4,667
• Airbnb Cash on Cash Return: 5.89%
• Airbnb Cap Rate: 5.98%
• Airbnb Daily Rate: $254
• Airbnb Occupancy Rate: 56%
• Walk Score: 9

With an average price per square foot of $243, Ithaca is an affordable city in New York for investing in Airbnb rentals. It is home to Cornell University, the Herbert F. Johnson Museum of Art, Cornell Botanic Gardens, and Cascadilla Falls. 

33. Charlottesville, VA

• Median Property Price: $699,132
• Average Price per Square Foot: $295
• Days on Market: 122
• Number of Airbnb Listings: 469
• Monthly Airbnb Rental Income: $5,513
• Airbnb Cash on Cash Return: 5.93%
• Airbnb Cap Rate: 6.03%
• Airbnb Daily Rate: $251
• Airbnb Occupancy Rate: 62%
• Walk Score: 57

If you want to take advantage of one of the highest monthly Airbnb rental income levels, Charlottesville is an excellent choice. It is home and close to several top attractions, such as Monticello, the University of Virginia, Trump Winery, Carter Mountain Orchard, and Saunders-Monticello Trail. 

34. Ann Arbor, MI

• Median Property Price: $581,526
• Average Price per Square Foot: $2,049
• Days on Market: 69
• Number of Airbnb Listings: 375
• Monthly Airbnb Rental Income: $4,265
• Airbnb Cash on Cash Return: 4.78%
• Airbnb Cap Rate: 4.84%
• Airbnb Daily Rate: $250
• Airbnb Occupancy Rate: 53%
• Walk Score: 97

With a high walk score of 97, Ann Arbor is an excellent city for visitors. Investing in Ann Arbor Airbnb offers a lot of opportunities, especially with the lifting of travel restrictions across the country. It is home to several top sites, such as the Michigan Stadium, the University of Michigan, and the Ann Arbor Hands-On Museum.

35. Salem, MA

• Median Property Price: $563,991
• Average Price per Square Foot: $657
• Days on Market: 37
• Number of Airbnb Listings: 118
• Monthly Airbnb Rental Income: $4,617
• Airbnb Cash on Cash Return: 4.81%
• Airbnb Cap Rate: 4.85%
• Airbnb Daily Rate: $246
• Airbnb Occupancy Rate: 60%
• Walk Score: 99

Salem, MA is another city with a very high walk score—99. It means tourists find it easier to navigate the city without the need for a vehicle. Salem is also home to top destinations that are good for families with kids, as well as those who love to explore the great outdoors.

36. Beacon, NY

• Median Property Price: $721,793
• Average Price per Square Foot: $388
• Days on Market: 88
• Number of Airbnb Listings: 122
• Monthly Airbnb Rental Income: $4,584
• Airbnb Cash on Cash Return: 3.35%
• Airbnb Cap Rate: 3.40%
• Airbnb Daily Rate: $246
• Airbnb Occupancy Rate: 55%
• Walk Score: 90

If you want to attract visitors who love art galleries and historic sites, investing in Beacon, NY is a good idea. Among the best destinations in Beacon are The Clutter Gallery, Bannerman Castle, and the Howland Cultural Center.

37. Jim Thorpe, PA

• Median Property Price: $415,932
• Average Price per Square Foot: $237
• Days on Market: 54
• Number of Airbnb Listings: 123
• Monthly Airbnb Rental Income: $3,439
• Airbnb Cash on Cash Return: 5.93%
• Airbnb Cap Rate: 6.09%
• Airbnb Daily Rate: $242
• Airbnb Occupancy Rate: 52%
• Walk Score: 53

With a median property price of only $415,932, Jim Thorpe, PA is considered an affordable city for investing in Airbnb. It is known for its arts, culture, and historic sites. It is home to famous attractions like the Old Jail Museum, Asa Packer Mansion, Lehigh Gorge Scenic Railway, and Bear Mountain Butterfly.

38. Surfside Beach, SC

• Median Property Price: $392,809
• Average Price per Square Foot: $248
• Days on Market: 64
• Number of Airbnb Listings: 146
• Monthly Airbnb Rental Income: $3,257
• Airbnb Cash on Cash Return: 4.92%
• Airbnb Cap Rate: 5.06%
• Airbnb Daily Rate: $242
• Airbnb Occupancy Rate: 53%
• Walk Score: 42

Another affordable city for investing in vacation rentals is Surfside Beach in South Carolina. For a median property price of only $392,809, you’ll get an opportunity to earn a monthly Airbnb rental income of $3,257. 

39. Luray, VA

• Median Property Price: $416,415
• Average Price per Square Foot: $222
• Days on Market: 67
• Number of Airbnb Listings: 192
• Monthly Airbnb Rental Income: $4,183
• Airbnb Cash on Cash Return: 7.00%
• Airbnb Cap Rate: 7.10%
• Airbnb Daily Rate: $239
• Airbnb Occupancy Rate: 54%
• Walk Score: 52

Luray, VA boasts the highest cash on cash return, which is 7%, among the Airbnb markets on this list. With an average monthly income of $4,183, Luray is definitely a lucrative place to invest in. Among the top attractions in the town include Stony Man Mountain Hike, The Car and Carriage Caravan Museum, and Massanutten Storybook Trail.

40. Waianae, HI

• Median Property Price: $642,788
• Average Price per Square Foot: $521
• Days on Market: 83
• Number of Airbnb Listings: 107
• Monthly Airbnb Rental Income: $5,432
• Airbnb Cash on Cash Return: 6.59%
• Airbnb Cap Rate: 6.71%
• Airbnb Daily Rate: $237
• Airbnb Occupancy Rate: 64%
• Walk Score: 21

Aside from basking under the sun along its beautiful beaches, Waianae is also known for other sights. They include the Waianae Mountain Range, Naked Cow Dairy and Farm Creamery, and Pu`uOHulu. Hawaii is expected to remain one of the top tourist spots in the world, making Waianae an excellent place for Airbnb investment.

How to Set the Right Airbnb Rental Rate

You should consider several key factors when deciding how much to charge daily for a vacation rental. While it’s important to consider the average daily rate of Airbnb rentals in your chosen location, a good Airbnb daily rate should not solely be based on it. 

You should also take into account other components that can help drive your income, such as the following:

Average Occupancy Rate

To know how much to charge daily for your vacation rental so you’ll have sufficient monthly income, it’s important to analyze how often your Airbnb property will be occupied. In general, if there is a high demand for vacation rentals, the occupancy rate will also be high. It ultimately translates to a higher Airbnb daily rate.

The best cities for Airbnb are those that are more attractive to tourists and usually see higher occupancy rates all year round. Investing in areas with higher occupancy allows you to charge higher rent without worrying that your property will not get occupied. It is because there is a high demand for vacation rentals.

Airbnb Cash on Cash Return

The cash on cash return measures the income generated from a short term rental property in relation to the amount the investor initially spent to purchase and make it operational. A high cash on cash return means the property generates a high net operating income in relaton to the total cash investment.

If you want to see a return on investment on your vacation rental, the cash on cash return is an important factor to consider when setting your Airbnb daily rental rate. Consider investing in one of the top locations for Airbnb cash on cash return to maximize your ROI.

Overall Costs and Expenses

To determine the right price to charge for your vacation rental, you also need to consider your overall costs—including the Airbnb fees and other operating expenses. It allows you to generate a positive cash flow.

Include one-time expenses such as the cost of the permit and licenses that you need to secure for running a short term rental. In addition, you should also add any recurring expenses like maintenance and property management fees, if applicable.

Seasonality Trends

The right Airbnb daily rate fluctuates depending on the seasonality trends in your location. Thus, your rental price should not be a fixed rate all year round. It’s important to be updated on current trends and know the demand for short term rentals in your area. 

You should also adopt a dynamic pricing strategy based on the vacation rental market trends so you can maximize your bookings and income. 

For instance, during peak season, when the demand for vacation rentals is high, you can charge more on rentals to take advantage of the higher demand and maximize your earnings. On the other hand, you must be flexible and adjust your rate during the low season to attract guests and fill in vacancies.

Other Comparables Within the Area

Research similar Airbnb investment properties nearby and compare the average Airbnb daily rate charged by your competitors. By conducting comparable neighborhood rental analysis, you’ll know how much others currently charge for similar properties in the area. It will give you a general idea of how much to charge for your own property, too.

Know the Airbnb Laws and Regulations in Your Chosen City

Before investing in short term rentals, it’s crucial to research the Airbnb laws and regulations in your chosen state and/or city. Find out the restrictions per state and/or city as they are essential in helping you make the right investment strategy. Most importantly, make sure to choose a location with no Airbnb legal issues.

While Airbnb laws and regulations typically don’t tell you how much you can charge for your short term rental, some may outline certain restrictions that may affect your profitability. Make sure to understand the rules. Doing so will allow you to charge the right average Airbnb daily rate and ensure you’ll get a positive cash flow from your vacation property.

Here are some of the important restrictions you need to find out:

• Whether the property should be owner-occupied or non-owner-occupied
• How many days per year you can rent out your Airbnb
• How many guests you can accept for each stay
• How much you should pay for taxes, as well as the cost of securing a permit
• Whether or not you can rent your property for under 30 days

To view the short term rental rules and regulations in your city, check out this page. 

Invest in Airbnb Rental Properties With the Help of Mashvisor

To be a successful Airbnb investor, you should study the Airbnb statistics by city and know the average Airbnb daily rate in your chosen location. It allows you to determine the best city for investing in short term rentals. If you are not sure which cities are best for Airbnb, check out our list above to help you get started.

Also, make sure to research the Airbnb statistics that will help you decide which investment property will give you the most profits. Since manually doing the research can be taxing, it’s best to work with a real estate analytics platform to make this task easier. Mashvisor can help you decide which areas to invest in based on our comprehensive real estate market analysis. 

With Mashvisor, you can search our database, which contains hundreds of thousands of investment properties, to help you find the right Airbnb investment. Just type in a city or neighborhood of your choice, and we’ll provide you with a quick overview of the houses for sale in that area.

Then, we’ll provide you with a detailed analysis of the average monthly rental income, Airbnb cap rate, median home price, cash flow, Airbnb daily rate, and occupancy rate of the property. 

Additionally, Mashvisor also provides tools that can help you find the right property for your investment goals. Using our tools, you can get comparable rental listings, as well as neighborhood analysis and data insights. You can also use Mashvisor’s Airbnb profit calculator to get a profit analysis of comparable properties nearby.

Sign up for a 7-day free trial of Mashvisor, followed by a 15% discount on your quarterly or annual subscription!