Unlocking the Secrets of STR Demand and Competition

In 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.

However, if we look at Chicago, IL, with a median price of $400,000, we can see a significant difference in prices compared to the other two cities.

But what about the number of homes sold? In New York, NY, 2381 homes were sold, while in Los Angeles, CA, only 78 homes were sold.

For a more in-depth analysis of STR demand and competition, check out our Short-Term Rental Market Outlook to learn more about which cities are poised for growth in 2025.

Additionally, our 10 Best Short-Term Rental Markets in Washington for 2025 post highlights the top markets in Washington for STR investment.

For a city like San Antonio, TX, with a median price of $189,000 and only 25 homes sold, we can see that it is a much more competitive market compared to the other cities listed.

However, if we look at San Diego, CA, with a median price of $656,542 and 255 homes sold, we can see that it is a much more desirable market for STR investors.

When comparing the days on market for each city, we can see that New York, NY, has a median of 74 days, while Los Angeles, CA, has a median of 43 days.

For a more in-depth analysis of STR trends, check out our The Evolving Short-Term Rental Market in Utah post to learn more about the trends and insights in the STR market.

Additionally, our Short-Term Rental Heatmaps post highlights how to find the most profitable locations for STR investment.

For a city like Indian Creek, FL, with a median price of $79,000,000 and only 1 home sold, we can see that it is a much more competitive market compared to the other cities listed.

However, if we look at Makena, HI, with a median price of $17,250,000 and 1 home sold, we can see that it is a much more desirable market for STR investors.

When comparing the months of supply for each city, we can see that New York, NY, has a median of 6 months, while Los Angeles, CA, has a median of 3 months.