Family Time Rentals & More Spring Travel Trends

Family time rentals are getting more and more popular these days thanks to the greater ease of travel restrictions and lockdowns.

According to Airbnb’s latest travel report, cross-border travel has also gained a significant increase as well as the nomadic lifestyle. That being said, what can Airbnb hosts do to take advantage of these growing trends?

Springtime 2022 Travel Trends to Watch Out for

Now that we’re entering a season where things seem to have some semblance of the pre-pandemic normalcy we’re all familiar with, the desire to travel has become quite viral to a lot of people. As the flowers start to bloom to welcome springtime, people all across the US are looking forward to going on more trips this year.

International Travel

With the ease of international travel restrictions, US citizens are preparing for out-of-country trips, while those from around the world have started traveling to the US as well. Cross-border travel is recovering from the massive hit it got when COVID-19 broke out in 2020. Airbnb reports that there has been a significant increase in the number of overnight stays from 20% in January 2021 to 35% in December 2021.

Live Anywhere Lifestyle

On a different note, an increasing number of folks have embraced the “live anywhere” trend and are expected to be on the road this springtime. A huge chunk of the people embracing this kind of lifestyle are senior adults and retirees looking to catch up on some lost travel time when they were busy with work.

Alongside them are 30-year-old millennials who are enjoying the current pandemic-induced work-from-home lifestyle. Since they are no longer tethered to a physical office and can practically work off of their computers anywhere, they are gearing up to take their cars, trucks, and RVs to spend most of this season on the road. Those who don’t have mobile homes looked into the prospect of renting out Airbnb properties for periods ranging from a few weeks to several months.

Some of the top springtime destinations for long-term stays include:

Southeast Florida
Phoenix
Central Gulf Coast Florida
Southwest Florida
Orlando

Family Fun Time

Now that folks are finding it a lot safer to travel, families are also preparing to spend some time on the road for some good old family vacation. Inquiries on family time rentals have begun picking up in recent weeks as parents search for the most ideal vacation rental their families will enjoy.

While most households are looking for family time rentals in the more popular places where theme resorts and kid-friendly amusement parks are found, others are also considering not-so-popular but equally exciting places to spend their vacation.

That being said, a lot of Florida Airbnb hosts with family time rentals are most likely to benefit from this trend as more than half of the top family-friendly destinations are found in FL counties. Airbnbs in the Orlando real estate market and the Miami housing market can expect a ton of bookings as families have their eyes set on these two locations.

The 2022 Spring travel trends reported by Airbnb shows Florida as the top destination for family time rentals and long-term stays.

Top Spring Time 2022 Destinations for Families

Florida investment properties are expected to sell like pancakes this springtime as investors have become increasingly aware of the travel trends during this season. We have looked into the top family destinations this springtime and did some digging into each market to see how profitable they are. The data for the following top Airbnb markets came from Mashvisor’s latest Airbnb data updates:

1. Wailuku, HI

Number of Listings for Sale: 17
Median Property Price: $1,364,935
Average Price per Square Foot: $1,032
Days on Market: 57
Number of Airbnb Listings: 153
Monthly Airbnb Rental Income: $9,259
Airbnb Cash on Cash Return: 5.97%
Airbnb Cap Rate: 6.03%
Airbnb Daily Rate: $273
Airbnb Occupancy Rate: 74%
Walk Score: 77

2. Cape Coral, FL

Number of Listings for Sale: 1,509
Median Property Price: $578,387
Average Price per Square Foot: $300
Days on Market: 72
Number of Airbnb Listings: 841
Monthly Airbnb Rental Income: $4,088
Airbnb Cash on Cash Return: 5.13%
Airbnb Cap Rate: 5.24%
Airbnb Daily Rate: $227
Airbnb Occupancy Rate: 70%
Walk Score: 77

3. Honolulu, HI

Number of Listings for Sale: 655
Median Property Price: $723,207
Average Price per Square Foot: $868
Days on Market: 87
Number of Airbnb Listings: 1,395
Monthly Airbnb Rental Income: $3,944
Airbnb Cash on Cash Return: 4.88%
Airbnb Cap Rate: 4.99%
Airbnb Daily Rate: $154
Airbnb Occupancy Rate: 78%
Walk Score: 50

4. Gatlinburg, TN

Number of Listings for Sale: 135
Median Property Price: $749,025
Average Price per Square Foot: $430
Days on Market: 100
Number of Airbnb Listings: 537
Monthly Airbnb Rental Income: $4,588
Airbnb Cash on Cash Return: 4.69%
Airbnb Cap Rate: 4.76%
Airbnb Daily Rate: $312
Airbnb Occupancy Rate: 64%
Walk Score: 59

5. Phoenix, AZ

Number of Listings for Sale: 865
Median Property Price: $718,982
Average Price per Square Foot: $357
Days on Market: 15
Number of Airbnb Listings: 1,151
Monthly Airbnb Rental Income: $3,763
Airbnb Cash on Cash Return: 4.01%
Airbnb Cap Rate: 4.09%
Airbnb Daily Rate: $255
Airbnb Occupancy Rate: 62%
Walk Score: 28

6. Tampa, FL

Number of Listings for Sale: 642
Median Property Price: $866,042
Average Price per Square Foot: $367
Days on Market: 41
Number of Airbnb Listings: 2,049
Monthly Airbnb Rental Income: $2,596
Airbnb Cash on Cash Return: 2.73%
Airbnb Cap Rate: 2.80%
Airbnb Daily Rate: $156
Airbnb Occupancy Rate: 54%
Walk Score: 46

7. Orlando, FL

Number of Listings for Sale: 658
Median Property Price: $499,170
Average Price per Square Foot: $273
Days on Market: 49
Number of Airbnb Listings: 1,202
Monthly Airbnb Rental Income: $2,524
Airbnb Cash on Cash Return: 2.40%
Airbnb Cap Rate: 2.47%
Airbnb Daily Rate: $123
Airbnb Occupancy Rate: 55%
Walk Score: 42

8. Miami, FL

Number of Listings for Sale: 2,221
Median Property Price: $953,470
Average Price per Square Foot: $643
Days on Market: 100
Number of Airbnb Listings: 2,857
Monthly Airbnb Rental Income: $4,541
Airbnb Cash on Cash Return: 2.31%
Airbnb Cap Rate: 2.35%
Airbnb Daily Rate: $241
Airbnb Occupancy Rate: 58%
Walk Score: 60

9. Miramar Beach, FL

Number of Listings for Sale: 107
Median Property Price: $1,256,421
Average Price per Square Foot: $600
Days on Market: 33
Number of Airbnb Listings: 228
Monthly Airbnb Rental Income: $2,542
Airbnb Cash on Cash Return: 1.22%
Airbnb Cap Rate: 1.24%
Airbnb Daily Rate: $324
Airbnb Occupancy Rate: 47%
Walk Score: 49

Start looking for and analyzing the best family-friendly Airbnb investment properties in your city and neighborhood of choice:

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How Can Airbnb Owners Take Advantage of These Trends?

First, if you’re an investor seriously thinking of starting a rental property business, you might want to look into some of the top locations listed above. Now is a good time to invest in real estate since mortgage rates are still manageable and prices are competitive. However, it is also important for investors to take note that there are current upward trends in both property prices and interest rates. You might regret not taking advantage of the current market conditions.

As for Airbnb owners and hosts, they need to ensure that their vacation rental properties continue to live up to Airbnb’s excellence standards so they get good feedback from guests and more bookings. For those who want to cater to folks who have embraced the “live anywhere” lifestyle, they can spruce the place up a bit and allow folks the freedom to redecorate and reorganize the place without making any permanent changes. This will allow renters to feel more at home and comfortable with their rental.

It would also be a plus to ensure that their properties have strong internet connections to attract more remote workers who are constantly on the move.

Those with family time rentals can start child-proofing their homes to increase parents’ confidence concerning their children’s safety. Providing some child-friendly entertainment on the premises, like board games, toys, and kid-friendly streaming services, would also add value to their rental properties. One thing that would also make family time rentals attractive is if the property owners and Airbnb hosts allow pets to stay with their owners as they rent their Airbnb homes. Doing these would do an Airbnb business good, especially during this season.

The Bottom Line

As travel restrictions continue to ease and cross-border travels increase, Airbnb hosts can expect a much better springtime this year compared to the past two years when the pandemic held us hostage. The inevitable increase in demand for long-term Airbnb rentals and family time rentals—as reported by Airbnb—makes the prospect of investing in short-term rental properties appealing to investors. To learn more about how Mashvisor can help you find profitable investment properties, schedule a demo.

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Spring Travel Trends 2022: Family Time Rentals & More