Composite score = 40% income (average annual profit) + 25% demand realization (average occupancy) + 20% market demand score + 15% growth rate. Each metric is winsorized at the 5th/95th percentile before normalization so outliers cannot distort the ranking. All metrics sourced live from the PulseReal public API.
| # | State | Composite | Avg ADR | Occupancy | Annual profit | Demand | Growth | Grade |
|---|---|---|---|---|---|---|---|---|
| 1 | Hawaii | 100.0 | $269 | 55.0% | $21,618 | 65 | 16.7% | B+ |
| 2 | Florida | 100.0 | $219 | 57.0% | $26,890 | 69 | 20.4% | B+ |
| 3 | Alaska | 90.1 | $191 | 42.0% | $20,299 | 58 | 14.1% | B |
| 4 | Arizona | 89.7 | $204 | 45.0% | $17,508 | 59 | 15.0% | B |
| 5 | Nebraska | 85.6 | $145 | 47.0% | $18,303 | 52 | 14.6% | B |
| 6 | North Dakota | 84.6 | $130 | 47.0% | $17,999 | 49 | 17.0% | C+ |
| 7 | Utah | 79.6 | $234 | 42.0% | $15,024 | 56 | 15.0% | B |
| 8 | South Carolina | 62.1 | $180 | 38.0% | $13,035 | 50 | 12.9% | B |
| 9 | Mississippi | 61.4 | $171 | 35.0% | $13,160 | 48 | 15.0% | C+ |
| 10 | Nevada | 60.7 | $306 | 42.0% | $8,827 | 52 | 13.3% | B |
| 11 | Colorado | 59.9 | $245 | 34.0% | $14,780 | 52 | 10.7% | B |
| 12 | Texas | 58.3 | $196 | 34.0% | $11,513 | 50 | 14.4% | C+ |
| 13 | New Mexico | 57.8 | $167 | 37.0% | $12,627 | 47 | 13.1% | C+ |
| 14 | Vermont | 57.4 | $240 | 25.0% | $19,085 | 51 | 9.9% | B |
| 15 | Alabama | 54.4 | $192 | 34.0% | $11,923 | 50 | 11.8% | C+ |
| 16 | Delaware | 52.9 | $208 | 21.0% | $19,654 | 50 | 9.4% | B |
| 17 | Missouri | 49.9 | $189 | 29.0% | $13,792 | 48 | 11.0% | C+ |
| 18 | Montana | 49.1 | $204 | 28.0% | $13,265 | 49 | 11.1% | C+ |
| 19 | Oklahoma | 48.6 | $197 | 28.0% | $12,259 | 48 | 12.5% | C+ |
| 20 | Maine | 48.3 | $239 | 18.0% | $19,351 | 49 | 8.3% | C+ |
| 21 | District of Columbia | 48.2 | $189 | 1.0% | $30,554 | 47 | 2.3% | C+ |
| 22 | Illinois | 48.2 | $168 | 35.0% | $10,001 | 45 | 12.8% | C+ |
| 23 | Kentucky | 47.3 | $156 | 32.0% | $12,827 | 44 | 11.3% | C+ |
| 24 | Wisconsin | 44.9 | $227 | 20.0% | $16,987 | 48 | 9.5% | C+ |
| 25 | Louisiana | 44.5 | $158 | 35.0% | $10,117 | 44 | 11.1% | C+ |
| 26 | Connecticut | 44.3 | $242 | 30.0% | $8,301 | 47 | 13.8% | C+ |
| 27 | Kansas | 44.1 | $155 | 35.0% | $8,382 | 42 | 13.9% | C+ |
| 28 | California | 43.9 | $238 | 39.0% | $2,200 | 47 | 15.4% | C+ |
| 29 | New Hampshire | 43.5 | $212 | 28.0% | $10,359 | 47 | 12.2% | C+ |
| 30 | Maryland | 42.7 | $171 | 36.0% | $6,037 | 44 | 13.9% | C+ |
| 31 | Ohio | 41.9 | $177 | 31.0% | $8,866 | 44 | 13.1% | C+ |
| 32 | South Dakota | 41.4 | $189 | 32.0% | $9,572 | 47 | 9.8% | C+ |
| 33 | Iowa | 40.5 | $163 | 31.0% | $8,823 | 42 | 13.5% | C+ |
| 34 | Georgia | 40.0 | $162 | 29.0% | $10,031 | 42 | 13.0% | C+ |
| 35 | Minnesota | 37.9 | $257 | 25.0% | $12,577 | 48 | 7.6% | C+ |
| 36 | Michigan | 35.8 | $203 | 22.0% | $13,476 | 47 | 6.8% | C+ |
| 37 | Virginia | 35.5 | $177 | 31.0% | $6,234 | 43 | 12.9% | C+ |
| 38 | Oregon | 35.3 | $182 | 32.0% | $6,880 | 44 | 10.9% | C+ |
| 39 | Indiana | 35.1 | $191 | 30.0% | $7,550 | 45 | 10.6% | C+ |
| 40 | Tennessee | 34.7 | $170 | 29.0% | $9,369 | 43 | 10.1% | C+ |
| 41 | Wyoming | 34.5 | $247 | 34.0% | $2,907 | 45 | 13.2% | C+ |
| 42 | North Carolina | 32.6 | $169 | 31.0% | $6,300 | 42 | 11.7% | C+ |
| 43 | Pennsylvania | 30.3 | $175 | 28.0% | $7,309 | 42 | 10.9% | C+ |
| 44 | Washington | 30.0 | $191 | 34.0% | $524 | 43 | 14.3% | C+ |
| 45 | Arkansas | 22.0 | $161 | 26.0% | $7,573 | 39 | 8.8% | C |
| 46 | West Virginia | 18.0 | $150 | 25.0% | $7,020 | 37 | 7.6% | C |
| 47 | Idaho | 17.3 | $174 | 28.0% | $2,094 | 39 | 10.9% | C |
| 48 | New Jersey | 14.0 | $299 | 27.0% | $-3,178 | 39 | 11.8% | C |
| 49 | New York | 10.6 | $307 | 23.0% | $1,867 | 40 | 9.4% | C+ |
| 50 | Massachusetts | 10.1 | $276 | 27.0% | $-535 | 40 | 9.1% | C+ |
| 51 | Rhode Island | 2.4 | $392 | 20.0% | $-559 | 38 | 9.0% | C |
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Use the PulseReal Ranker to drill from a top state into its highest-performing cities and ZIPs, then model a specific property with the Evaluator.
Composite score = 40% income (average annual profit) + 25% demand realization (average occupancy) + 20% market demand score + 15% growth rate. Each metric is winsorized at the 5th/95th percentile before normalization so outliers cannot distort the ranking. All metrics sourced live from the PulseReal public API.
Occupancy reflects how consistently listings are booked across the year. The ranking table shows the average occupancy for every state; sort or scan the Occupancy column to compare demand strength.
Yes. A CSV of the full state ranking, including every metric used in the composite score, is available from the "Download CSV" button on this page.
Metrics are pulled live from PulseReal's short-term rental dataset. This edition was last updated on June 9, 2026.
PulseReal builds on these public, authoritative datasets and industry references.
Existing-home sales, pending sales, and housing affordability indices.
Short-term rental supply, ADR, and occupancy benchmarks.
Listing inventory, median list price, and time-on-market data.
Population, household, housing, and commuter data by city and ZIP.
Federal Reserve Economic Data: mortgage rates, housing starts, price indexes.