Understanding the occupancy rates of Airbnb properties is crucial for investors and hosts looking to optimize their short-term rental strategies. Below is a comprehensive analysis of the average Airbnb occupancy rates by city for September 2024, focusing on the top 30 markets.
Table of Average Airbnb Occupancy Rates
| City | Total Full-time Listings | Average Daily Rate | Median Occupancy Rate | Zillow Average Home Price | Median Gross Yield |
|---|---|---|---|---|---|
| Honolulu, HI | 4,011 | $166 | 90.0% | $787,369 | 5.55% |
| Kihei, HI | 1,718 | $248 | 83.0% | $1,117,994 | 5.17% |
| Madison, WI | 166 | $133.5 | 80.5% | $368,243 | 8.45% |
| Jersey City, NJ | 656 | $132.5 | 79.0% | $590,919 | 4.50% |
| Key West, FL | 785 | $357 | 74.0% | $1,069,083 | 6.91% |
| Jackson, WY | 215 | $246 | 74.0% | $2,035,160 | 2.47% |
| Naples, FL | 450 | $350 | 72.0% | $1,088,485 | 6.24% |
| Austin, TX | 5,328 | $210 | 71.0% | $576,527 | 9.50% |
| Miami, FL | 8,271 | $211 | 70.0% | $434,776 | 11.90% |
| Scottsdale, AZ | 2,365 | $275 | 69.0% | $678,985 | 7.12% |
| New Orleans, LA | 3,231 | $154 | 68.0% | $376,843 | 10.24% |
| Orlando, FL | 8,993 | $142 | 67.0% | $293,485 | 12.37% |
| Savannah, GA | 1,507 | $203 | 66.0% | $498,234 | 7.54% |
| Nashville, TN | 7,581 | $245 | 65.0% | $394,850 | 12.45% |
| Asheville, NC | 1,102 | $214 | 64.0% | $457,993 | 8.45% |
| Santa Fe, NM | 1,042 | $283 | 64.0% | $565,294 | 6.85% |
| Boston, MA | 3,650 | $255 | 63.0% | $824,739 | 4.98% |
| Portland, OR | 2,873 | $137 | 63.0% | $498,293 | 6.70% |
| Seattle, WA | 3,546 | $168 | 62.0% | $728,459 | 5.65% |
| Denver, CO | 4,856 | $190 | 62.0% | $578,638 | 6.80% |
| Washington, DC | 5,683 | $187 | 61.0% | $632,947 | 6.45% |
| Chicago, IL | 6,273 | $150 | 61.0% | $349,983 | 9.78% |
| San Diego, CA | 6,048 | $232 | 60.0% | $823,583 | 5.34% |
| Los Angeles, CA | 14,836 | $209 | 60.0% | $831,490 | 5.00% |
| Philadelphia, PA | 4,312 | $143 | 59.0% | $355,789 | 8.67% |
| Cleveland, OH | 1,079 | $107 | 59.0% | $100,734 | 18.19% |
| Newark, NJ | 952 | $84 | 58.0% | $437,808 | 3.06% |
| Park City, UT | 1,567 | $308 | 57.0% | $1,538,743 | 2.92% |
| Birmingham, AL | 758 | $121.5 | 57.0% | $126,949 | 16.41% |
| Vail, CO | 748 | $407 | 57.0% | $1,674,665 | 3.22% |
Key Insights
- Honolulu, HI: With a staggering 90.0% occupancy rate, Honolulu tops the list, making it an excellent market for Airbnb investments. This high demand ensures that properties are frequently occupied, leading to consistent rental income.
- Kihei, HI: The high occupancy rate of 83.0% and premium daily rate reflect Kihei’s strong demand for short-term rentals. Investors can expect steady returns in this lucrative market.
- Madison, WI: Madison’s 80.5% occupancy rate, combined with a high gross yield, indicates a thriving Airbnb market. The city’s balance of affordability and demand makes it a prime location for short-term rental investments.
- Jersey City, NJ: With a 79.0% occupancy rate, Jersey City shows robust demand for Airbnb properties. Its proximity to New York City makes it a popular choice for travelers seeking more affordable accommodations.
- Key West, FL: Key West’s 74.0% occupancy rate and high daily rate highlight its appeal for luxury Airbnb listings. The consistent demand in this market ensures high occupancy and premium rental income.
- Jackson, WY: Jackson also boasts a 74.0% occupancy rate, indicating strong demand for high-end short-term rentals. This market is ideal for investors looking to cater to affluent travelers.
- Naples, FL: Naples has a 72.0% occupancy rate, reflecting its attractiveness as a tourist destination. The high average daily rate further enhances its appeal for investors seeking high returns.
- Austin, TX: With a 71.0% occupancy rate, Austin remains a hot market for Airbnb investments. The city’s vibrant culture and numerous events draw a steady stream of visitors.
- Miami, FL: Miami’s 70.0% occupancy rate underscores its popularity among tourists. The city’s diverse attractions and lively nightlife make it a consistently strong market for short-term rentals.
- Scottsdale, AZ: Scottsdale’s 69.0% occupancy rate, coupled with a high daily rate, makes it a desirable market for Airbnb hosts. The city’s appeal as a luxury destination drives demand for premium rentals.
- New Orleans, LA: New Orleans shows a solid 68.0% occupancy rate, supported by its vibrant cultural scene and frequent festivals. This makes it a prime location for short-term rentals.
- Orlando, FL: Known for its theme parks, Orlando boasts a 67.0% occupancy rate. The steady influx of tourists ensures consistent demand for Airbnb properties.
- Savannah, GA: With a 66.0% occupancy rate, Savannah’s historic charm attracts numerous visitors, making it a strong market for short-term rentals.
- Nashville, TN: Nashville’s music scene and cultural attractions contribute to its 65.0% occupancy rate. This steady demand makes it a reliable market for Airbnb investments.
- Asheville, NC: Asheville’s 64.0% occupancy rate reflects its appeal as a destination for nature lovers and cultural enthusiasts. The city’s unique charm drives consistent demand for short-term rentals.
- Santa Fe, NM: Santa Fe’s 64.0% occupancy rate and high daily rate make it a profitable market for Airbnb hosts. The city’s rich cultural heritage and scenic beauty attract many visitors.
- Boston, MA: Boston’s 63.0% occupancy rate highlights its strong demand for Airbnb properties. The city’s historic sites and educational institutions draw a steady stream of visitors.
- Portland, OR: Portland’s 63.0% occupancy rate reflects its popularity as a tourist destination. The city’s vibrant cultural scene and outdoor activities attract a diverse range of travelers, making it an attractive market for Airbnb hosts.
- Seattle, WA: With a 62.0% occupancy rate, Seattle’s strong demand for Airbnb properties is driven by its booming tech industry and scenic attractions. The city’s mix of business and leisure travelers ensures a steady stream of guests.
- Denver, CO: Denver also boasts a 62.0% occupancy rate, reflecting its appeal to both outdoor enthusiasts and business travelers. The city’s diverse attractions make it a reliable market for short-term rentals.
- Washington, DC: The nation’s capital has a 61.0% occupancy rate, highlighting its strong demand for short-term rentals. The city’s numerous landmarks and political events draw a continuous flow of visitors.
- Chicago, IL: Chicago’s 61.0% occupancy rate underscores its popularity as a major tourist and business destination. The city’s diverse attractions ensure a steady demand for Airbnb properties.
- San Diego, CA: San Diego’s 60.0% occupancy rate reflects its appeal as a coastal city with numerous attractions. The city’s beaches, parks, and cultural sites make it a desirable market for short-term rentals.
- Los Angeles, CA: With a 60.0% occupancy rate, Los Angeles remains a top market for Airbnb investments. The city’s vast array of attractions, from Hollywood to beaches, ensures a consistent demand for short-term rentals.
- Philadelphia, PA: Philadelphia’s 59.0% occupancy rate is driven by its rich historical sites and vibrant cultural scene. The city’s steady influx of tourists makes it a strong market for Airbnb properties.
- Cleveland, OH: Cleveland’s 59.0% occupancy rate reflects its growing appeal as a travel destination. The city’s affordability and cultural attractions contribute to its strong demand for short-term rentals.
- Newark, NJ: Newark shows a solid 58.0% occupancy rate, benefiting from its proximity to New York City. This makes it a popular choice for travelers seeking more affordable accommodations near the Big Apple.
- Park City, UT: With a 57.0% occupancy rate, Park City is a prime location for Airbnb investments, particularly for luxury rentals. The city’s appeal as a skiing destination ensures consistent demand.
- Birmingham, AL: Birmingham’s 57.0% occupancy rate highlights its steady demand for short-term rentals. The city’s blend of cultural and historical attractions draws a diverse range of visitors.
- Vail, CO: Vail’s 57.0% occupancy rate, coupled with high daily rates, makes it a lucrative market for Airbnb hosts. The city’s status as a premier skiing destination attracts affluent travelers, ensuring high occupancy and rental income.
Conclusion
Investing in Airbnb properties requires a thorough understanding of market dynamics, including occupancy rates, revenue potential, and home values. This guide provides essential insights to help you make informed decisions and optimize your short-term rental strategy. Whether targeting high-yield markets like Cleveland or luxury destinations like Honolulu, leveraging this data will enhance your Airbnb investments.
Optimize your Airbnb listings by focusing on cities with strong occupancy rates and revenue potential to stay ahead of the competition.
