Airbnb Data on 3,628 Active Vacations Rental in Charlotte

Introduction

The Short-Term (Airbnb) Rental Market in Charlotte, NC

Market Performance and Value

According to Zillow, homes in Charlotte appreciated by 3.70% recently, indicating a healthy real estate market. The median home value in Charlotte currently stands at $391,750, reflecting the city’s desirability as a place to live and invest.

Supply and Revenue

As of the latest data from Chalet, there are 3,628 active Airbnb rentals in Charlotte.

This significant number of available properties indicates the growing interest in the short-term rental market within the city.

The average daily rate for these rentals is $198.20, contributing to an annual revenue of $30,100.

These figures highlight the potential profitability of investing in short-term rentals in Charlotte.

The occupancy rate for short-term rentals in Charlotte currently stands at 50%, indicating a healthy demand for temporary accommodations in the city.

Profitability and Taxes

Investing in short-term rentals in Charlotte can be financially rewarding, with an average gross yield of 7.68%. However, it’s essential to consider the associated costs, such as property taxes. The average property tax rate in Charlotte is 1.03%, which investors should factor into their financial planning.

Investor-Friendly Regulations

Charlotte’s short-term rental market benefits from somewhat investor-friendly regulations. While there are zoning regulations and limitations in place, there are no significant restrictions that hinder investors from owning and operating short-term rentals. Additionally, there are new laws in the pipeline that may further facilitate the process for investors, making it easier to engage in this market.

Charlotte, NC: Beyond the Short-Term (Airbnb) Rental Market

Median Household Income

The median household income in Charlotte, NC, is an important indicator of the city’s economic well-being. While the exact figure may vary over time, as of the latest available data, the median household income in Charlotte is approximately [insert current median household income figure]. This data point provides insights into the financial capacity of local residents and their potential demand for Airbnb rental accommodations.

Climate

Charlotte, NC, experiences a humid subtropical climate. The city enjoys relatively mild winters, with average temperatures ranging from the mid-30s to mid-50s Fahrenheit (2-12 degrees Celsius) in January. Summers are hot and humid, with average temperatures ranging from the low 70s to mid-90s Fahrenheit (21-35 degrees Celsius) in July. Charlotte receives a moderate amount of rainfall throughout the year, making it important for short-term rental owners to consider seasonal fluctuations and weather patterns.

Population Size

As of the latest data, the population of Charlotte, NC, stands at approximately [insert current population figure]. With a steadily growing population, Charlotte offers a large pool of potential visitors for short-term rentals. The city’s thriving economy, cultural attractions, and diverse job market attract both residents and tourists alike.

Sports Teams

Charlotte boasts a vibrant sports scene, with several professional teams representing the city. Some of the notable sports teams based in Charlotte, NC, include:

• Charlotte Hornets (NBA): The city’s professional basketball team.
• Carolina Panthers (NFL): Charlotte’s football team, competing in the National Football League.
• Charlotte Checkers (AHL): A professional ice hockey team, affiliated with the NHL’s Florida Panthers.

These teams contribute to the city’s sports culture and attract fans from near and far, potentially increasing the demand for short-term (Airbnb) rentals during sporting events.

Colleges in Charlotte

Charlotte is home to several renowned educational institutions, providing a steady flow of students, faculty, and visiting academics. Some of the colleges located in Charlotte, NC, include:

• University of North Carolina at Charlotte (UNC Charlotte): A public research university with a diverse student body and a range of academic programs.
• Queens University of Charlotte: A private university offering undergraduate and graduate programs across various disciplines.
• Johnson & Wales University: A private career-focused university known for its culinary arts and hospitality programs.

The presence of these colleges contributes to the demand for short-term rental accommodations, as visitors and families often seek temporary housing during academic events and visits.

Crime Rate

While crime rates can fluctuate, it’s important to be aware of the safety and security landscape when considering investment opportunities. Charlotte, like any other major city, experiences its share of crime. It’s advisable for investors to conduct thorough research on crime statistics and consult local authorities to make informed decisions regarding property investments and management.

Visitor Demographics and Origin

Charlotte attracts visitors from various locations, both domestically and internationally. While specific data on visitor demographics and origin may not be available for the purpose of this blog post, it’s safe to assume that the city’s economic growth, cultural attractions, and sporting events appeal to a diverse range of travelers. Understanding visitor demographics can help short-term (Airbnb) rental owners tailor their offerings to target specific markets effectively.

Tourist Attractions

Charlotte offers an array of attractions that draw visitors year-round. Some of the city’s biggest tourist attractions include:

• NASCAR Hall of Fame: A museum celebrating the history of stock car racing and the drivers who have contributed to the sport.
• U.S. National Whitewater Center: An outdoor recreational facility offering whitewater rafting, kayaking, rock climbing, and hiking.
• Discovery Place Science: A hands-on science museum that engages visitors of all ages with interactive exhibits and educational programs.
• The Mint Museum: A comprehensive art museum with collections ranging from ancient artifacts to contemporary works.
• Carowinds: A popular amusement park featuring thrilling rides, live entertainment, and a water park.

These attractions, along with others, make Charlotte an appealing destination for leisure and business travelers, increasing the demand for short-term rental accommodations.

Peak Season in Charlotte

The peak season in Charlotte, NC, generally aligns with the warmer months, particularly from late spring to early fall. The pleasant weather, outdoor events, and festivals during this period attract a significant number of tourists. However, it’s important to note that peak seasons can vary depending on specific events, holidays, and local factors. Monitoring local calendars, event schedules, and historical data can help short-term rental owners maximize their occupancy and revenue during peak periods.

Conclusion

Charlotte, NC, offers an exciting and promising Airbnb rental market for investors. With a growing number of active rentals, healthy appreciation rates, and favorable regulations, the city presents opportunities for financial success. Additionally, Charlotte’s population, economic growth, sports teams, colleges, and tourist attractions contribute to the demand for temporary accommodations. By considering key data points, understanding the local climate, and tailoring offerings to target markets, investors can thrive in Charlotte’s vibrant short-term rental market. So, whether you’re a seasoned investor or looking to enter the industry, Charlotte holds immense potential for your short-term rental endeavors.