As the vacation rental industry continues to flourish, the US East emerges as a region brimming with potential for Airbnb investors. From the bustling streets of major cities to the serene landscapes of rural towns, this diverse area offers a variety of markets that cater to an array of preferences and investment strategies.
Understanding the dynamics of each market is crucial to capitalizing on these opportunities. Factors such as local tourism trends, real estate values, regulatory landscapes, and community amenities play significant roles in determining the profitability of Airbnb investments. In this guide, we delve into the best Airbnb rental markets in the Eastern U.S., based on data collected in September 2024, highlighting key data and insights to help you make informed decisions. From hidden gems with high rental yields to sought-after destinations with consistent visitor demand, we explore what makes each market stand out in the competitive landscape of short-term rentals.
Let’s uncover the potential of the East Coast and beyond, guiding you towards the best markets that promise not only a good return on investment but also the chance to be part of vibrant communities and rich experiences.
1. Logan, OH
Nestled in Ohio, Logan stands out with a remarkable year-over-year home value increase of 10.50%, signaling a vibrant market. The average home price in Logan is $225,864, appealing to investors looking for affordable entry points. The short-term rental market is thriving, evidenced by an average daily rate (ADR) of $344.70 and a 55% occupancy rate.
This dynamic translates into an impressive annual revenue of $65,900 from 861 active listings in Q1/2024. Logan’s average gross yield of 29.18% is exceptionally high, coupled with a modest property tax rate of 1.43%. Properties typically spend 48 days on the market, suggesting a brisk yet accessible market for new entries.
Check out our Logan Airbnb Investor Guide for a deeper dive into our analysis of this short-term rental market.
2. Cleveland, OH
Cleveland’s real estate market is witnessing a robust growth, with a 5.80% increase in home values, setting the average home price at $100,734. The city offers a lucrative opportunity for short-term rental investors, with an ADR of $158.30 and a 51% occupancy rate. This results in an annual revenue of $29,300 across 1,899 active listings.
With an average gross yield of 24.32% and a relatively high property tax rate of 2.93%, Cleveland presents a compelling mix of affordability and investment potential. The market is dynamic, with properties selling in an average of 34 days, reflecting strong investor and buyer interest.
Check out our Cleveland, OH Airbnb Investor Guide for a deeper dive into our analysis of this short-term rental market.
Top 200 Airbnb Rental Markets
Use our Airbnb comparison tool to instantly compare the top 200 short-term (Airbnb) rental markets in the US by returns on investment, occupancy rates, revenue, home price, and more…
3. Augusta, GA
Augusta, GA, known for its rich history and vibrant culture, showcases a healthy real estate growth with a 3.10% increase in home values. The average home price here is $168,286, making it an accessible market for many.
The ADR in Augusta is $330.50 with a 41% occupancy rate, leading to an annual revenue of $49,800 from 726 active rentals. Investors can expect a high average gross yield of 29.59%, and the property tax rate stands at a favorable 0.40%. Homes in Augusta spend an average of 52 days on the market, indicating a market with a good balance between supply and demand.
Check out our Augusta Airbnb Investor Guide for a deeper dive into our analysis of this short-term rental market.
4. Lake Harmony, PA
Lake Harmony in Pennsylvania is a scenic market with a 7.30% increase in home values, pushing the average price to $317,949.
It boasts a high ADR of $568.70 and a 39% occupancy rate, culminating in an annual revenue of $73,600 from 659 active listings. The average gross yield here is 23.15%, with a property tax rate of 0.71%. The homes tend to stay on the market for 58 days, indicating a slightly slower pace for transactions but a solid interest in premium vacation rentals.
Check out our Lake Harmony Airbnb Investor Guide for a deeper dive into our analysis of this short-term rental market.
5. Atlantic City, NJ
Atlantic City emerges as a standout market with a staggering 15.70% jump in home values, setting the average at $199,019. The city’s allure for tourists translates into a solid ADR of $326 and a 43% occupancy rate, resulting in $41,500 annual revenue from 1,146 active listings.
The average gross yield of 20.85% is impressive, complemented by a property tax rate of 1.89%. However, with homes spending an average of 77 days on the market, it suggests a market where patience is required for sales, balanced by the potential for high returns.
Check out our Atlantic City Airbnb Investor Guide for a deeper dive into our analysis of this short-term rental market.
