Blue Ridge, GA, is a picturesque town located in the Appalachian Mountains of Georgia. With its natural beauty, charming downtown, and abundance of outdoor recreational activities, it’s no surprise that Blue Ridge has become a popular tourist destination.
This has led to a boom in the (Airbnb) short-term rental market, with many investors purchasing homes and turning them into vacation rentals.
In this blog post, we will take a closer look at the short-term rental market in Blue Ridge, including key data points and trends.
Overview of the STR Market
According to Zillow, homes in Blue Ridge appreciated 0.80% in the last year, with the median home value currently at $487,371. This shows that the real estate market in Blue Ridge is strong and continues to grow.
Average Gross Yield and Property Tax
When considering investing in the short-term rental market in Blue Ridge, it’s important to look at the potential returns on investment. According to Chalet, the average gross yield for Airbnb rentals in Blue Ridge is 11.55%. This is a healthy return, especially when compared to other real estate investment opportunities.
It’s also important to consider the property tax rates in Blue Ridge. According to SmartAsset, the average property tax in Blue Ridge is 0.38%. This is a relatively low rate, which makes it more attractive for investors to purchase and rent out properties in the area.
Short-Term Rental Regulation
Investors looking to enter the (Airbnb) short-term rental market in Blue Ridge will be pleased to know that the regulations are investor-friendly. Unlike some other tourist destinations, Blue Ridge does not have any specific regulations regarding short-term rentals. This means that investors have more freedom to operate their rental properties without restrictions.
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Key Data Points
- Median Household Income: According to Data USA, the median household income in Blue Ridge, GA, is $38,686. This is lower than the national average but is in line with the state average for Georgia.
- Climate: Blue Ridge has a humid subtropical climate with hot summers and mild winters. The average high temperature in July, the hottest month of the year, is 86°F, while the average low temperature in January, the coldest month, is 27°F.
- Population Size: According to the latest U.S. Census data, the population of Blue Ridge, GA, is 1,350.
- Sports Teams: Blue Ridge does not have any professional sports teams based in the town.
- Colleges: There are no colleges located in Blue Ridge, GA.
- Crime Rate: According to Neighborhood Scout, the crime rate in Blue Ridge, GA, is lower than the national average, with a crime rate index of 16 out of 100.
- Visitors: According to the Blue Ridge Mountains Arts Association, visitors to Blue Ridge, GA, come from all over the United States, with a significant number coming from nearby states such as Florida, Tennessee, and North Carolina.
- Total Number of Visitors: While specific visitor numbers are difficult to track, Blue Ridge is known as a popular tourist destination, with visitors flocking to the area throughout the year.
- Tourist Attractions: Blue Ridge offers a wide range of tourist attractions, including hiking and biking trails, fishing and boating opportunities, local wineries and breweries, and unique shopping and dining experiences.
- Peak Season: The peak season in Blue Ridge, GA, is during the fall months when the leaves on the trees change colors and create a stunning display of natural beauty. However, visitors come to Blue Ridge throughout the year, with summer and winter also being popular seasons.
Conclusion
In conclusion, the short-term rental market in Blue Ridge, GA, is a lucrative investment opportunity with plenty of potential for growth. With its strong real estate market, increasing supply of short-term rentals, high occupancy rates, and relatively low property tax rates, Blue Ridge is an attractive option for investors. Additionally, the lack of specific short-term rental regulations in Blue Ridge makes it even more appealing for those looking to enter the market. Overall, the short-term rental market in Blue Ridge looks set to continue to thrive in the coming years.
