Short-term (Airbnb) rentals have become increasingly popular in Saint Louis, MO over the past few years. With a robust real estate market, the city has seen an increase in the number of short-term rental properties available. In this article, we will explore the current state of the Airbnb rental market in Saint Louis, MO, including key data points such as home values, rental rates, occupancy rates, and regulations.
Home Values
According to Zillow, the median home value in Saint Louis, MO is $169,352. This represents a 6.10% appreciation in home values over the past year, making it an attractive location for real estate investors.
Airbnb Rental Supply and Demand
There are currently 2,701 active short-term rental properties in Saint Louis, MO, according to data from Chalet. The average daily rental rate is $171, and the occupancy rate is 53%. This translates to an annual revenue of $26,700 for short-term rental property owners.
Gross Yield and Property Taxes
The average gross yield for Airbnb rental properties in Saint Louis, MO is 15.77%. This is a healthy return on investment for property owners, especially considering the city’s relatively low median home value.
Property taxes in Saint Louis, MO are relatively low, with an average rate of 1.24% according to SmartAsset. This is good news for short-term rental property owners, as it means that property taxes are not likely to eat into their profits.
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Short-Term (Airbnb) Rentals in Saint Louis, MO
The regulatory environment for short-term rentals in Saint Louis, MO is investor-friendly. Unlike some cities that have implemented strict regulations on Airbnb rentals, Saint Louis has relatively few restrictions. This makes it easier for investors to purchase and operate short-term rental properties in the city.
Median Household Income
According to the U.S. Census Bureau, the median household income in Saint Louis, MO is $53,247. This is slightly lower than the national median household income of $62,843, but still provides residents with a comfortable standard of living.
Climate
Saint Louis, MO experiences a humid subtropical climate, with hot summers and cold winters. The city receives an average of 41 inches of rainfall per year and experiences some snowfall during the winter months.
Population Size
As of 2020, the population of Saint Louis, MO is approximately 300,576. The city is the second-largest in Missouri, after Kansas City, and is a hub of commerce, culture, and entertainment.
Sports Teams
Saint Louis, MO is home to several sports teams, including the St. Louis Cardinals (MLB), St. Louis Blues (NHL), and Saint Louis FC (USL Championship). The city also has a rich sports history, with notable athletes such as Stan Musial, Ozzie Smith, and Jackie Joyner-Kersee hailing from Saint Louis.
Colleges
Saint Louis, MO is home to several prestigious colleges and universities, including Washington University in St. Louis, Saint Louis University, and Webster University. These institutions offer a wide range of academic programs and are known for their contributions to research and innovation.
Crime Rate
Saint Louis, MO has a higher crime rate than the national average, with a violent crime rate of 1,927 per 100,000 residents and a property crime rate of 5,065 per 100,000 residents. However, the city has taken steps to improve public safety in recent years, with initiatives such as increased police presence and community outreach programs.
Visitor
Visitors to Saint Louis, MO come from all over the world, with a majority of visitors coming from the United States, followed by Canada and Mexico. In 2019, the city welcomed over 26 million visitors, who spent over $5 billion on tourism-related activities.
Popular Tourist Attractions
Saint Louis, MO has a wide range of attractions for visitors of all ages and interests. Some of the most popular tourist destinations include the Gateway Arch, the Missouri Botanical Garden, the Saint Louis Zoo, and the City Museum. The city also has a thriving arts and culture scene, with numerous museums, galleries, and theaters.
Peak Season
The peak season for tourism in Saint Louis, MO is typically during the summer months, from June to August. This is when the weather is warm and many of the city’s outdoor attractions are open. However, Saint Louis is a great destination year-round, with plenty of indoor attractions and events to enjoy during the fall and winter months.
Conclusion
The Airbnb rental market in Saint Louis, MO is growing, with an increasing number of properties available for rent. With a median home value of $169,352 relatively low property taxes, and an investor-friendly regulatory environment, Saint Louis is an attractive location for real estate investors looking to enter the short-term rental market.
The average daily rental rate of $171 and occupancy rate of 53% translate to healthy annual revenue for property owners, with an average gross yield of 15.77%. All of these factors make Saint Louis, MO an excellent location for investors looking to tap into the lucrative short-term rental market.
