Hotel Havens: Zip Codes With High Occupancy Rates and Rising Property Values

In this article, we'll be analyzing the data on hotel performance in various cities across the United States, focusing on zip codes with high occupancy rates and rising property values. We'll be looking at cities like New York, NY, Los Angeles, CA, Chicago, IL, Houston, TX, Phoenix, AZ, San Antonio, TX, San Diego, CA, Dallas, TX, San Jose, CA, Sturgis, SD, Indian Creek, FL, Indian Field, CT, Makena, HI, Hillsboro Beach, FL, Sagaponack, NY, Palm Beach, FL, Watch Hill, RI, Water Mill, NY, and Gulf Stream, FL.

According to the data, New York, NY has a median sale price of $825,000 with homes staying on the market for 74 days. In contrast, Los Angeles, CA has a median price of $736,000 with homes staying on the market for 43 days.

We can see a significant difference in the median sale prices between these two cities, with New York, NY being $89,000 higher. Additionally, the median days on market for New York, NY is 31 days longer than Los Angeles, CA.

Let's take a closer look at the data for each city. In New York, NY, the median sale price is $825,000, with 2381 homes sold and a median days on market of 74. In Los Angeles, CA, the median sale price is $736,000, with 78 homes sold and a median days on market of 43. Chicago, IL has a median sale price of $400,000, with 1134 homes sold and a median days on market of 48. Houston, TX has a median sale price of $355,000, with 1680 homes sold and a median days on market of 47. Phoenix, AZ has a median sale price of $485,000, with 1451 homes sold and a median days on market of 50.

Comparing real estate markets like these, it's essential to consider current market trends and how they affect pricing. In our previous article, we discussed how rising inventory levels are shaping buyer decisions this spring.

For a city like New York, NY, the median sale price is $825,000 with homes typically staying on the market for 74 days. When comparing to Los Angeles, CA, which has a median price of $736,000, we can see a difference of $89,000. Additionally, the median days on market for New York, NY is 31 days longer than Los Angeles, CA.

Let's also compare the number of homes sold in each city. In New York, NY, there were 2381 homes sold, while in Los Angeles, CA, there were only 78 homes sold. This significant difference in the number of homes sold can be attributed to various factors, including the size of the city and the demand for housing.

Another important factor to consider is the median price per square foot (PPSF). In New York, NY, the median PPSF is $825,000, while in Los Angeles, CA, it's $736,000. This difference in PPSF can also be attributed to various factors, including the size of the homes and the location within the city.

In terms of inventory levels, we can see that New York, NY has a significantly higher inventory level than Los Angeles, CA. With 14259 homes on the market, New York, NY has a median days on market of 74. In contrast, Los Angeles, CA has a much lower inventory level, with only 231 homes on the market and a median days on market of 43. For more detailed information, check out our rising analysis.

Looking at the data for other cities, we can see that Chicago, IL has a median sale price of $400,000, with 1134 homes sold and a median days on market of 48. Houston, TX has a median sale price of $355,000, with 1680 homes sold and a median days on market of 47. Phoenix, AZ has a median sale price of $485,000, with 1451 homes sold and a median days on market of 50.

We can also see that San Antonio, TX has a median sale price of $189,000, with 25 homes sold and a median days on market of 79. San Diego, CA has a median sale price of $656,542, with 255 homes sold and a median days on market of 30. Dallas, TX has a median sale price of $265,000, with 140 homes sold and a median days on market of 58. San Jose, CA has a median sale price of $729,500, with 96 homes sold and a median days on market of 23.

Some cities, like Sturgis, SD, have a significantly higher median sale price, with $369,375,000 and a median days on market of 200. In contrast, cities like Indian Creek, FL, and Indian Field, CT, have a much lower median sale price, with $79,000,000 and $17,500,000 respectively.

Another interesting comparison is between New York, NY and Palm Beach, FL. While New York, NY has a median sale price of $825,000, Palm Beach, FL has a median sale price of $13,750,000. Additionally, the median days on market for Palm Beach, FL is 85, which is significantly longer than New York, NY. For more detailed information, check out our hotel analysis.

Looking at the data for other cities, we can see that Hillsboro Beach, FL has a median sale price of $15,650,000, with 1 home sold and a median days on market of 149. Sagaponack, NY has a median sale price of $15,500,000, with 1 home sold and a median days on market of 82. Watch Hill, RI has a median sale price of $11,750,000, with 1 home sold and a median days on market of 182. Water Mill, NY has a median sale price of $11,711,000, with 1 home sold and a median days on market of 157. Gulf Stream, FL has a median sale price of $11,475,000, with 2 homes sold and a median days on market of 199.

Comparing Airbnb to hotel profit margins can provide valuable insights into the financial performance of short-term rentals versus hotels. In our previous article, we discussed how short-term rental regulations are affecting hotel licensing.

For investors looking to capitalize on the growing demand for short-term rentals, it's essential to understand the current market trends and how they affect pricing. By analyzing the data on hotel performance in various cities, we can identify areas with high occupancy rates and rising property values.