Florida: the best state for investors to own vacation rentals
A new ranking released by Rented.com analyzed 150 cities, and the return investors could be making with vacation rentals. The results? The Sunshine State snitched the first 19 positions, according to Forbes.
The report took into consideration the costs associated with buying and owning a home in each city, local regulations on short-term rentals and the demand for vacation homes based on data from Rented.com as well as Airbnb.
In second place came California, with 13 cities and Texas in third, with nine towns. The top five cities were Pigeon Forge and Gatlinburg ranked first and second, cities from Tennessee, followed by Florida’s Panama City Beach in third. Killington, Vermont and Palm Coast, Florida rounded out the top five. Not surprisingly, none of them are major hubs.
“Urban destinations fell off as a good investment. A year or two ago some had the highest ROI, and that’s fallen dramatically,” Rented.com’s Andrew McConnell told Forbes. “The Southeast did extremely well this year, especially in non-luxury markets like the Smokey Mountains.”