Which ski resort towns make it as the best places to buy vacation rental property? With the summer over, a lot of people are now looking forward to their winter break plans. What better way to enjoy the snow than in the country’s best ski destinations? Cozy cabins, amazing views, and awesome ski slopes make for an amazing getaway. And what better way to spend the winter of 2020 as a real estate investor than to be generating positive cash flow from your smart vacation rental investments in these best ski destinations?
6 Best Places to Buy Vacation Rental Property 2020
How do you determine where the best places for second homes are in the US housing market? Well, if you’re planning on renting out this second home, we’ve got the data you need to make that decision. Mashvisor’s vacation rental income calculator was used to analyze the best locations for winter rentals. Based on general real estate market trends and key return on investment metrics, the following housing markets are considered the best places to buy vacation rental property:
1) Ogden, UT
- Median Property Price: $243,504
- Price per Square Foot: $137
- Average Days on Market: 49
- Monthly Airbnb Rental Income: $1,979
- Airbnb Cash on Cash Return: 4.3%
- Airbnb Occupancy Rate: 57%
The Ogden real estate market confidently takes the number one spot for investing in vacation rental property. Moderately priced properties can generate a very strong return on investment when rented out on Airbnb in this city. An average of $2K every month is really good for a seasonal market like Ogden. It’s the oldest city in Utah, but it’s still gaining more and more attention and is a popular skiing destination thanks to its position at the basecamp of Nordic Valley (known as the best hill for beginners in the west).
According to Zillow, Ogden home values have appreciated at a very impressive rate of 16.1 percent over the last year. What’s even better? Ogden real estate is projected to gain even more value in 2020, with an estimated 8.7 percent increase to the median home value of $230,100.
When researching locations for buying vacation rental properties, there’s another important factor to consider- Airbnb laws and regulations. These can really get in the way of a successful vacation home real estate investment. Airbnb Ogden is legal but there is some slight regulation. Check out the ordinance which was passed two years ago and make sure you comply with the requirements and have a permit.
Related: Is Airbnb a Good Investment Considering All of the Regulations?
2) Jackson, WY
- Median Property Price: $1,618,210
- Price per Square Foot: $775
- Average Days on Market: 126
- Monthly Airbnb Rental Income: $6,780
- Airbnb Cash on Cash Return: 3.7%
- Airbnb Occupancy Rate: 59%
There are three major ski resorts drawing visitors to the Jackson real estate market every year: Jackson Hole Mountain Resort, Snow King Mountain, and Grand Targhee Resort. While Jackson vacation rentals come at a much higher price than the ski resort town we listed first, the much higher rental income makes up for it. If you have that kind of capital, definitely consider buying a vacation rental property here.
In regard to Airbnb Jackson, there is a short term rental ordinance effective in the area. All vacation homes must have a residential short term license to operate legally. Here are a couple of other details regarding Jackson vacation rentals.
3) Conway, NH
- Median Property Price: $344,191
- Price per Square Foot: $207
- Average Days on Market: 96
- Monthly Airbnb Rental Income: $2,607
- Airbnb Cash on Cash Return: 3.6%
- Airbnb Occupancy Rate: 52%
Conway is one of the best places to buy vacation rental property in 2020 for many reasons. One of the most historically popular skiing locations in North America, Conway is a prime choice for owning winter rentals. Located in eastern New Hampshire, Conway offers a great view of the White Mountains. Short term rentals are a big part of Conway’s economy as they support one of their strongest industries- tourism.
Related: Are Vacation Rentals a Good Investment for Beginners?
4) Bend, OR
- Median Property Price: $688,980
- Price per Square Foot: $297
- Average Days on Market: 104
- Monthly Airbnb Rental Income: $3,172
- Airbnb Cash on Cash Return: 2.9%
- Airbnb Occupancy Rate: 56%
Located just a couple of miles away from Mount Bachelor, the Bend real estate market is a place that won’t just serve as a great ski destination, but it offers rock-climbing and golfing a well. The median home value of Bend real estate properties is $437,700 which is up 4 percent from last year. All short term rentals require a Short Term Rental land use permit and an operating license. For more details on short term rental regulation for Airbnb Bend, click here.
5) Truckee, CA
- Median Property Price: $945,230
- Price per Square Foot: $422
- Average Days on Market: 94
- Monthly Airbnb Rental Income: $3,351
- Airbnb Cash on Cash Return: 2.4%
- Airbnb Occupancy Rate: 50%
The California real estate market has got it all. From top beach destinations to the best ski resort towns. Truckee and the Lake Tahoe area hit the top of the list for many skiers. Currently a somewhat competitive market, real estate investors should strike here now before the market gets too hot. And as one of the best places to buy vacation rentals, it will likely heat up even more as we approach the winter. Make sure to register your vacation rental with the town of Truckee, and check out the other Airbnb rules and regulations.
6) Whitefish, MT
- Median Property Price: $803,285
- Price per Square Foot: $373
- Average Days on Market: 215
- Monthly Airbnb Rental Income: $3,435
- Airbnb Cash on Cash Return: 2.4%
- Airbnb Occupancy Rate: 51%
A small town in Montana is the last to be mentioned on our list of the best places to buy vacation rental property. The Whitefish real estate market is a great choice for vacation home investors in 2020. It’s located at the edge of Glacier National Park, and the Whitefish Mountain Resort has really been a pinnacle point of flourishment for this ski destination. The housing market is currently quite balanced between a buyer’s and a seller’s market so it’s a good time to invest in real estate. The town did, however, strengthen Airbnb regulations last year, so make sure you’re complicit with the rules.
Related: 5 Steps to Investing in Vacation Rentals for the First Time
If you want to start searching for vacation rentals in these hot ski destinations for 2020, start your 14-day free trial with Mashvisor. This will give you access to our Heatmap Analysis Tool which is a great tool for quickly analyzing the best places to buy vacation rental property to find lucrative investments that match your criteria.