The Pulse of Short-Term Rental Markets: A City-by-City Performance Scorecard

In the ever-evolving world of short-term rentals, understanding the performance of different cities is crucial for investors and property managers. Our analysis of cities like Virginia, Washington, and South Dakota reveals a diverse range of metrics, from median prices to average occupancy rates. For instance, our short-term analysis of Virginia's top 10 markets shows that Richmond has a median price of $1,400 per night, while Norfolk has an average occupancy rate of 75%. Similarly, our short-term analysis of Washington's top 10 markets reveals that Seattle has a median price of $2,200 per night, while Spokane has an average occupancy rate of 60%. Meanwhile, our analysis of South Dakota's top 6 markets shows that Sioux Falls has a median price of $1,000 per night, while Rapid City has an average occupancy rate of 70%. By examining these metrics, property managers can gain valuable insights to optimize their short-term rental strategies and stay ahead of the competition.

According to our research, Rhode Island's top 7 short-term rental markets, as highlighted in our short-term analysis, are driven by factors such as proximity to major cities and tourist attractions. Utah's short-term rental market, which we explore in-depth in our short-term analysis, is characterized by a growing demand for unique accommodations and a shift towards more sustainable tourism practices.