We understand—you deserve a break, and what better way to get one than by owning real estate in one of the best places to buy vacation rental property in 2022 and 2023? These locations are not only great for your investment portfolio, but they are also great places to relax when they are not booked with your renters.

Why should you buy vacation rental property now? Because the economy is booming. In Q3 2021, Airbnb had its most profitable quarter ever, with a net income four times greater than in 2020.

So, if you’re thinking about buying a vacation home, we’ve got you covered. Here are the best places in 2022 and 2023 to buy a vacation rental property.

Best Places To Buy Vacation Rental Property Right Now

 

When it comes to real estate, location is everything. So, for your short-term vacation rental investment, you’re looking for a place with enough short-term rental demand and a good return on your investment, not just a cozy getaway.

Tampa, Florida

You don’t have to be a Floridian to know that Tampa is one of the best places in the country to visit. It’s also a popular location for vacation rental properties. The city has long been popular among tourists, but it is now attracting investors as well. In PwC’s Emerging Trends in Real Estate Report for 2019, Tampa was ranked among the top ten best places to invest in real estate.

The economy of the Tampa-St. Petersburg metropolitan area is worth more than $130 billion. It is Florida’s second fastest growing metro area, and it is home to four Fortune 500 companies.

Tampa, FL Statistics

Traditional rental properties:

• Cash on cash return: 2.71%
• Cap rate: 2.95%
• Occupancy rate: 93%
• Average rental income per month: $2,093

 

AirBnB rental properties:

• Cash on cash return: 2.41%
• Cap rate: 2.07%
• Occupancy rate: 51%
• Average rental income per month: $2,381

The Poconos, Pennsylvania

It’s no surprise that the Poconos are ideal for a weekend getaway.

This market promotes our list of the best places to buy vacation rental property because it provides year-round activities for everyone, from skiing in the winter to outdoor fun in the summer. There are also numerous shopping and dining options nearby. The Poconos are less than a 2-hour drive away for most people in New York, and even closer for many in the Philadelphia area.

The Poconos, PA Statistics

Traditional rental properties:

• Cash on cash return: 1.82%
• Occupancy rate: NA
• Average rental income per month: $1,287

 

AirBnB rental properties:

• Cash on cash return: 5.62%
• Occupancy rate: 47%
• Average rental income per month: $3,099

 

Orlando, Florida

Orlando, Florida is one of the best places to buy vacation rental property today because it is a unique city with numerous investment opportunities. It’s warm, sunny, and full of fantastic restaurants and entertainment options. It’s also a great place to buy vacation rental property.

Orlando, Fl Statistics

Traditional rental properties:

• Cash on cash return: 2.66%
• Cap rate: 4.69%
• Occupancy rate: 94%
• Average rental income per month: $1,855

 

AirBnB rental properties:

• Cash on cash return: 3.58%
• Cap rate: 5.14%
• Occupancy rate: 54%
• Average rental income per month: $2,983

Jacksonville, Florida

Jacksonville has many advantages, which is why it has made our list of the best places to buy vacation rental property today. It has the most people in Florida and was ranked fourth on Stessa’s list of US cities with the highest economic growth in 2021. As the population and employment in this area continue to grow, it doesn’t take a genius to predict that this city will continue to experience high housing demand.

Jacksonville, FL Statistics

Traditional rental properties:

• Cash on cash return: 2.35%
• Cap rate: 2.96%
• Occupancy rate: 93%
• Average rental income per month: $1,855

AirBnB rental properties:

• Cash on cash return: 4.39%
• Cap rate: 4.55%
• Occupancy rate: 58%
• Average rental income per month: $2,416