Identifying the Top Zip Codes for Short-Term Rental Investors
In the world of short-term rental investing, knowing the right zip codes to target is crucial for success. Our data-driven analysis will help you discover the top zip codes for short-term rental investors, focusing on cities like Waukesha, WI, Fort Smith, AR, and more.
Median Sale Price: A Key Indicator of Market Trends
Let's start with the median sale price, which is a critical factor in determining the profitability of a short-term rental property. In Waukesha, WI, the median sale price is $385,000, while in Fort Smith, AR, it's $315,000. This $70,000 difference is a significant indicator of the market conditions in these two cities.
Another city worth mentioning is Ogden, UT, where the median sale price is $335,000. This is a relatively affordable option compared to other cities on this list. However, it's essential to consider other factors, such as days on market, homes sold, and inventory, to get a comprehensive understanding of the market.
In contrast, cities like Santa Barbara, CA, and Sullivan's Island, SC, have much higher median sale prices. Santa Barbara has a median sale price of $1,362,500, while Sullivan's Island has a median sale price of $13,500,000. These cities are likely to be more challenging for short-term rental investors, especially those with tighter budgets. For more detailed information, check out our short term analysis.
Homes Sold: A Reflection of Market Activity
Homes sold is another crucial metric to consider when evaluating the short-term rental market. In Waukesha, WI, 43 homes were sold, while in Fort Smith, AR, only 1 home was sold. This significant difference in sales volume can impact the availability of properties for short-term rental investors.
Burien, WA, has only 2 homes sold, indicating a relatively low level of market activity. In contrast, Edmond, OK, has 164 homes sold, making it an attractive option for investors looking for a more active market.
Days on Market: A Reflection of Market Speed
Days on market is another essential metric to consider when evaluating the short-term rental market. In Waukesha, WI, homes typically stay on the market for 34 days, while in Fort Smith, AR, they stay on the market for 109 days. This significant difference in market speed can impact the profitability of short-term rental investments. For more detailed information, check out our top short analysis.
In contrast, Ogden, UT, has a relatively fast market, with homes staying on the market for only 14 days. This can make it an attractive option for investors looking for a quick turnaround.
However, cities like Sturgis, SD, and Crystal Bay, NV, have much longer market times, with homes staying on the market for 200 and 190 days, respectively. This can make it challenging for investors to find profitable opportunities in these markets.
For more information on the short-term rental market in Utah, check out our article on The Evolving Short-Term Rental Market in Utah: Trends, Insights, and Top Markets, which provides valuable insights and analysis of the Utah market.
Conclusion
When it comes to finding the top zip codes for short-term rental investors, it's essential to consider multiple factors, including median sale price, homes sold, and days on market. By analyzing the data and trends in cities like Waukesha, WI, Fort Smith, AR, and more, you can make informed decisions and find the most profitable opportunities in the short-term rental market.
For more information on short-term rental regulations and hotel licensing, check out our article on Short-Term Rental Regulations vs. Hotel Licensing: What Hosts Need to Know, which provides valuable insights and analysis of the current regulations and licensing requirements.
