Last updated: September 2024
Virginia Beach is not only a beautiful coastal city but also a thriving destination for tourists seeking sun, sand, and a plethora of activities. For investors in short term rentals Virginia Beach, understanding the key attractions that draw visitors to this vibrant area can significantly enhance occupancy rates and profitability. Here’s an in-depth look at the top tourist attractions in Virginia Beach that make it a prime location for short term rentals Virginia Beach success.
1. Virginia Beach Boardwalk
The Virginia Beach Boardwalk is a 3-mile stretch along the oceanfront, lined with restaurants, shops, and entertainment venues. This bustling area attracts thousands of tourists each year, making it a hot spot for short term rentals Virginia Beach. Properties located near the boardwalk can command higher nightly rates due to their proximity to the beach and vibrant nightlife.
2. First Landing State Park
First Landing State Park offers a unique blend of history and natural beauty. As the site where English colonists first landed in 1607, the park features 20 miles of trails through diverse habitats, including marshes, lagoons, and cypress swamps. Short term rentals Virginia Beach near the park appeal to outdoor enthusiasts and history buffs, providing a steady stream of guests throughout the year.
3. Virginia Aquarium & Marine Science Center
The Virginia Aquarium & Marine Science Center is a family-friendly attraction featuring over 800,000 gallons of aquariums and live animal habitats. Interactive exhibits, a 3D IMAX theater, and educational programs make it a must-visit destination. Short term rentals Virginia Beach catering to families will benefit greatly from being located near this popular attraction.
4. Military Aviation Museum
Home to one of the largest private collections of World War I and World War II era military aircraft, the Military Aviation Museum offers a unique experience for history and aviation enthusiasts. Properties in close proximity to the museum can attract a niche market of visitors interested in military history and airshows. Investing in short term rentals Virginia Beach near this museum can be highly profitable.
5. Sandbridge Beach
For tourists seeking a quieter, more relaxed beach experience, Sandbridge Beach offers a serene alternative to the bustling boardwalk area. Known for its pristine sands and less crowded environment, Sandbridge is perfect for families and couples looking for a peaceful getaway. Short term rentals Virginia Beach here can attract those looking for a tranquil beach vacation.
6. Neptune’s Park
Located at 31st Street and Atlantic Avenue, Neptune’s Park is a hub of activity with live music, festivals, and outdoor events. The iconic 34-foot Neptune statue is a popular photo spot and symbol of Virginia Beach. Rentals near Neptune’s Park are ideal for guests looking to be in the heart of the action, enjoying concerts and festivals throughout the year. Short term rentals Virginia Beach in this area are always in high demand.
7. Cape Henry Lighthouse
The historic Cape Henry Lighthouse, located within Fort Story military base, offers breathtaking views of the Atlantic Ocean and Chesapeake Bay. Visitors can climb the original lighthouse built in 1792 and its replacement from 1881. Short term rentals Virginia Beach near Cape Henry can appeal to those interested in history and panoramic coastal views.
8. Ocean Breeze Waterpark
Ocean Breeze Waterpark, with its 30 rides and attractions, provides a fun-filled day for families and groups. The park’s close proximity to the Virginia Aquarium and Marine Science Center makes it a convenient stop for tourists. Rentals nearby can capitalize on the family vacation market, offering easy access to both attractions. This makes short term rentals Virginia Beach near the waterpark particularly attractive.
Market Data for Short Term Rentals Virginia Beach
Understanding the market data for short term rentals Virginia Beach can give investors a competitive edge. With a Zillow Year-over-Year Home Value Change of 6.30%, the average home price in Virginia Beach stands at $391,244. Homes here spend an average of 28 days on the market, according to Redfin, with a competitive score of 77, indicating a fairly competitive market.
Currently, there are 1,581 active listings in the short term rentals Virginia Beach market. The average daily rate for rentals in Virginia Beach is $234.00, with an occupancy rate of 58%, resulting in an annual revenue of $42,439. Investors can expect a median gross yield of 9.04% and a cap rate of 5.42%, while property taxes stand at 1.06%.
These figures indicate a healthy and competitive market for short term rentals Virginia Beach, with strong annual revenue and favorable yield and cap rates. Investors can leverage this data to make informed decisions about property investments in Virginia Beach.
Enhancing Your Short Term Rentals Virginia Beach Appeal
To maximize the appeal of your short term rentals Virginia Beach, consider highlighting these attractions in your property listings. Mentioning proximity to these popular sites can draw more interest from potential guests. Additionally, providing recommendations and guides for local activities can enhance the guest experience, leading to positive reviews and repeat bookings.
Investing in short term rentals Virginia Beach is not just about the property itself but also about leveraging the city’s vibrant tourist attractions. By understanding what draws visitors to the area and strategically marketing your rental, you can ensure high occupancy rates and successful investment returns.
For a detailed investment overview of the Virginia Beach market, check out the Investor Guide. To stay compliant with local laws and zoning requirements, refer to the Rental Regulations Guide.
