Introduction
Port Aransas, Texas, often referred to as a “Texan treasure,” is a coastal town situated on Mustang Island in the Gulf of Mexico.
Known for its beautiful beaches, world-class fishing, and charming atmosphere, Port Aransas is a popular destination for tourists seeking a beachside escape.
In recent years, the short-term rental market, primarily facilitated by platforms like Airbnb, has been on the rise in Port Aransas.
This blog post will delve into the dynamics of this thriving market, offering insights and answering essential questions about Port Aransas, its economy, and the factors contributing to the growth of short-term rentals.
Key Market Data
Let’s start by examining some vital statistics related to the short-term rental market in Port Aransas:
Home Values and Depreciation
- According to Zillow, the median home value in Port Aransas is $584,703. However, it’s worth noting that home values have depreciated by -3.30% in recent times, which can be an important factor influencing the growth of the short-term rental market.
Short-Term Rental Supply and Performance
- Chalet data shows that there are 3,413 active short-term rentals in Port Aransas, reflecting the popularity of this form of accommodation in the area.
- The average daily rate for these rentals stands at $478, indicating the potential profitability of the short-term rental market.
- The occupancy rate, a key metric for property owners, is around 48%, suggesting that properties are in demand and ensuring a steady stream of income.
- The annual revenue generated from short-term rentals in Port Aransas is estimated to be $72,100, offering a glimpse into the economic impact of this industry on the local economy.
Market Growth and Property Tax
- The average gross yield for property investors in the short-term rental market is an attractive 12.33%.
- Property tax rates in Port Aransas are relatively modest, with an average of 1.95%, making it an appealing destination for property investors.
Now that we have a clearer picture of the short-term rental market in Port Aransas, let’s delve into the broader context of the town.
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Exploring Port Aransas
Median Household Income
While the median home value in Port Aransas is relatively high, the median household income in the area plays a crucial role in the local economy. It helps sustain the short-term rental market by providing residents with the means to invest in and manage rental properties. Unfortunately, the exact median household income data isn’t provided in the available information.
Climate
Port Aransas boasts a warm and welcoming climate, which is a major draw for tourists. With mild winters and hot, sunny summers, it’s an ideal destination for those seeking beachfront relaxation.
Population Size
As of my last knowledge update in January 2022, Port Aransas had a population of approximately 4,000 residents. It’s worth checking for more recent data to get an accurate picture of the town’s population.
Sports Teams and Colleges
Port Aransas is a small coastal town and doesn’t host any major sports teams or colleges. However, nearby Corpus Christi offers a range of sports and educational institutions.
Crime Rate
Port Aransas generally enjoys a reputation as a safe destination. However, for the most up-to-date and accurate information on crime rates, it’s advisable to consult local law enforcement or official statistics.
Visitors and Tourist Attractions
Port Aransas is a popular tourist destination, and visitors come from various places to experience its natural beauty and recreational opportunities. Some of the significant tourist attractions in the area include the beautiful beaches, fishing charters, and the Port Aransas Nature Preserve.
Peak Season
The peak season in Port Aransas typically aligns with the summer months, from May to August. During this time, the town experiences a surge in visitors, and short-term rental properties are in high demand.
Conclusion
The short-term rental market in Port Aransas, Texas, is thriving, driven by factors such as attractive rental income, modest property tax rates, and the town’s coastal charm. While the median household income, population size, and certain other details may require further research, it’s evident that Port Aransas is a sought-after destination for both property investors and tourists alike. With its stunning beaches and inviting climate, it’s no wonder that the short-term rental market in Port Aransas is on the rise, offering a unique opportunity for investors and visitors to experience the beauty of this Texan coastal gem.
