Recently, there has been an explosion in Seattle Airbnb growth. Properties have multiplied tremendously. With so many cities to choose to invest in, let’s take a look at Seattle and its Airbnb investment opportunities!
Seattle’s diverse neighborhoods and beautiful outdoor landscapes make a popular city for tourists. It is home to plenty of art, history, and culture to attract visitors of all ages. And a trip to the Emerald City is not complete until you take advantage of all the outdoor activities it has to offer including kayaking, hiking, and skiing. Seattle is located on peninsula surrounded by several different waterways. Salmon Bay, Lake Union and Union Bay (collectively known as the Lake Washington Ship Canal) also slice the city in half, with the Ballard, Fremont and University District neighborhoods to the north and the rest of Seattle’s neighborhoods to the south.
Seattle is a world-class city with many wonderful attractions. Art lovers will appreciate the glass-blown pieces at Chihuly Garden and Glass as well as the works on display at the EMP Museum. You can enjoy watching the ships at the Hiram M. Chittenden Locks. Downtown Seattle hosts the Seattle Art Museum, The Seattle Symphony, and Pike Place Market. Historic Pioneer Square is the destination for the Seattle Underground Tour, and is adjacent to CenturyLink Stadium and Safeco Field. And don’t forget the legendary Space Needle! Seattle is a popular attraction year round making it a prime investment location for Airbnb.
Related: Four Things to Consider Before Purchasing an Airbnb Investment Property
Seattle Business Headquarters
Don’t forget that with all these entertainment locations and tourist sites, Seattle is also a bustling city for business. Seattle and the surrounding suburbs house eight Fortune 500 companies including Amazon, Nordstrom, Microsoft, and Starbucks. Other large companies include MSNBC, Costco, Capital One Investing, and T-Mobile. The long list of company headquarters in the city attracts many visitors, potential employees, and business personnel. And all those visitors can be ensuring you make a profit with your Airbnb Seattle property!
The Current Situation with Airbnb Seattle
A recent look at the number of properties available shows a 31% increase in Airbnb Seattle properties. Seattle has been very accepting of the Airbnb market due to lack legislation in place to regulate the company. This is a huge plus for tourists visiting the city. While local residents are concerned of Airbnb properties limiting the housing market, the scale to which Airbnb has expanded has not been enough to push further legal action. Seattle has a tech community similar to that of Silicon Valley’s in California; however, the difference is that the cost per square foot is approximately half of that in San Francisco, but it won’t be for long. Investing in Seattle’s current demanding market guarantees a return in value.
Airbnb Seattle Numbers
- Average Airbnb Monthly Rental Income: $2,494.19/mo
- Average Airbnb Cash on Cash Return: 2.55%
- Average Airbnb Cap Rate: 5.45%
- Median Home Price: $715,643.52
Top Airbnb Seattle Neighborhoods:
- Denny Triangle
- East Ballard
- East Queen Anne
- West Queen Anne
- Judkins Park
- North Queen Anne
- Beacon Hill
- Central Seattle
Neighborhoods with Highest Airbnb Occupancy Rate:
- Atlantic – 66.9%
- Central Seattle – 66.2%
- West Queen Anne – 65.2%
- North Queen Anne – 63.1%
- East Queen Anne – 62.6%
Related: Best Cities for Airbnb Occupancy Rates
Neighborhoods with Highest Airbnb Rental Income:
- Denny Triangle – $2740.76/mo
- Atlantic – $2684.09/mo
- Judkins Park – $2580.61/mo
- Central Seattle – $2,405.22/mo
- Beacon Hill – $2,329.46/mo
Although Seattle’s housing market is currently very competitive, the return on investment is high. Buyers are attracted by the region’s diversified economy and are driving real estate prices up. In Seattle you can find long-term stability and an Airbnb investment that can provide good cash flow and modest appreciation over time.
Related: Seattle Remains to be One of the Top Airbnb Cities
Using Mashvisor to Optimize Your Airbnb Seattle Investment
To determine the value of an investment property, you can look at cap rate, cash on cash return, and real estate comps. Using the real estate investment tools on Mashvisor, you can easily find and analyze Airbnb Seattle neighborhoods and properties to determine real estate comps with. The following is a list of the top Airbnb Seattle Neighborhoods worth investing in!
Seattle remains to be one of the top Airbnb cities in regards to having one of the highest Airbnb occupancy rates and listings. With nearly 2,000 Airbnb listings, and occupancy rates reaching the 60th percentile in top neighborhoods, it is a sure place to invest in! Make sure to use Mashvisor’s multiple tools to assess your investment opportunities in the Seattle real estate market and optimize your investment!