Investing in Airbnb properties is known to yield good profit for its owners. An Airbnb rental property can target different groups of users, tourists, students or locals. An owner needs to decide what marketing strategies to use, and the overall Airbnb demand in a certain area to maximize profit on the investment. Today, we’re not only discussing regular Airbnb demand, we’re addressing the Airbnb demand during graduation and new students enrolling. That’s right. ‘Tis (almost) the season.
The strategic point comes in finding the top universities that enroll the most out-of-state students, because they are an Airbnb owner’s target market. These cities present a perfect investment for an Airbnb rental property in so many ways. An owner can target out of town students who need accommodation upon arrival, and accommodation of the student’s visitors.
A graduation season for an educational institution filled with out of state students can equal a high season demand for Airbnb rental properties. From an owner’s perspective, graduation season means family and friends of hundreds of students coming to town to attend the graduation ceremonies. These visitors will need accommodation and an Airbnb rental property presents the best option for many a family to reside in. While hotels might be an option for some people, Airbnb offers a better value for larger groups of people.
New Students Coming to Orientation
Students who are moving to a new city or state to attend universities are potential Airbnb guests. They or their families may need accommodation during orientation. For students who will live in a dorm, they could need a place to stay before move-in day. To explain this in more detail, consider a student thinking about his/her options on where to live before starting their student life and finding permanent residence. Will they consider a hotel? An Airbnb property perhaps? This creates an opportunity for Airbnb rental property owners to rent their listings for a certain time to new students util they find a home.
So, which universities have the most out-of-state students?
- Arizona State University: located in Phoenix, Arizona, the university is home to almost 21,000 out of state students.
- Purdue University: located in Lafayette, Indiana, the university has an out of state student population of 19,700 students.
- Indiana University Bloomington: located in Bloomington, Indiana, the institution has a student population of 46,000 with 19,500 of them being out of state students.
Property investment opportunities in these cities are not as expensive as those in Boston or San Diego because of the less lucrative locations. However, for a potential Airbnb rental property owner, investing to target a steady flow of out of town student population could prove to be a profitable investment. With Airbnb, it’s easy to be creative, there is an opportunity to choose your targeted market and to provide them with incentives to rent your property. Student cities are an excellent investment opportunity if Airbnb investment is your aim.