North America’s Leading Vacation Rental Management Platform Shares Its Top Beach Destinations Where Vacation Rental Buyers Can Earn More
PORTLAND, Ore.–(BUSINESS WIRE)–Vacasa (NASDAQ: VCSA), North America’s leading vacation rental management platform, released its report on the Best Places to Buy a Beach House 2022. Vacasa’s annual report ranks the best U.S. destinations to purchase a vacation rental property based on average cap rate, or yearly rate of return, as second home sales remain strong in the first quarter.
Vacasa cares for more than 35,000 vacation homes throughout North America, Belize and Costa Rica, and leverages that industry expertise to offer specialized real estate services and tools to prospective second home buyers. After purchase, Vacasa supports the end-to-end vacation rental experience with local teams on the ground to expertly clean and maintain the homes, and a robust suite of technology to ensure homeowners earn the most on their investment.
Coming in at #1 on this year’s list of profitable beach markets is the popular vacation destination Gulf Shores, Alabama, where buyers can expect a 10.2% cap rate and can earn around $56,000 in annual gross rental revenue. The top markets on this year’s list include:
|
1. |
Gulf Shores, Ala. |
6. |
Galveston, Texas |
|
| 2. |
Corolla, N.C. |
7. |
Hatteras Island, N.C. |
|
| 3. |
Navarre Beach, Fla. |
8. |
Rockaway Beach, Ore. |
|
| 4. |
New Buffalo, Mich. |
9. |
Port St. Joe, Fla. |
|
| 5. |
Daytona Beach, Fla. |
10. |
Lahaina, HI |
“According to our 2021 Vacation Rental Buyer Report, 42% of buyers looking to purchase a vacation home chose a beach destination as the market type they’d be most interested in investing in, and for good reason,” said Daned Kirkham, Senior Director of Real Estate for Vacasa. “While beach destinations will nearly always draw in a steady stream of guests, buyers can also earn more on homes with the amenities that guests seek most—beachfront or beach adjacent, a private pool or hot tub and being pet-friendly.”
Vacasa’s list of the Best Places to Buy a Vacation Home includes markets in Alabama, Florida, North Carolina, Michigan and Texas that have the option for extended stays, which can range from 28 days to a few months, a growing trend since the start of the pandemic.
“The way people live and travel has changed considerably over the past two years and some trends are here to stay, including extended stays,” said Kirkham. “Guests can enjoy working and living from any location largely due to remote and hybrid work environments. Homeowners also benefit from increased income from these longer stays, which often occur during shoulder seasons when there tends to be more availability.”
To learn more about Vacasa’s Best Places to Buy a Beach House and view the full report, click here.
Vacasa’s Best Places to Buy a Beach House Methodology
To determine its ranking of top vacation rental markets, Vacasa analyzed home sales and vacation rental performance data from the last 12 months for vacation destinations throughout the country where Vacasa and its licensed subsidiaries manage vacation rentals.* To determine average gross rental income (homeowner revenue made from bookings, excluding any fees) for a market, we used actual performance data for the market as a whole, where available, except that Vacasa-only data was used for markets where Vacasa manages more than 50 units and actual Vacasa rental performance beats the market average by at least 25%. To calculate average cap rate, we considered the averages of the following in each market: property taxes, utilities, homeowners association fees, insurance, and property management fees.
Local regulations vary by jurisdiction and the transfer of a property to a new owner may affect its ability to be used as a vacation rental. Generally, all vacation rental regulations are subject to change, which may affect your ability to use a property as a vacation rental in the future. Buyers should always check current local regulations prior to making an investment decision.
About Vacasa
Vacasa is the leading vacation rental management platform in North America, transforming the vacation rental experience by integrating purpose-built technology with expert local and national teams. Homeowners enjoy earning significant incremental income on one of their most valuable assets, delivered by the company’s unmatched technology that adjusts rates in real time to maximize revenue. Guests can relax comfortably in Vacasa’s 35,000+ homes across more than 400 destinations in North America, Belize and Costa Rica, knowing that 24/7 support is just a phone call away. In addition to enabling guests to search, discover and book its properties on Vacasa.com and the Vacasa Guest App, Vacasa provides valuable, professionally managed inventory to top channel partners, including Airbnb, Booking.com and Vrbo.
For more information, visit https://www.vacasa.com/press.
Contacts
Tracy Pogrelis
tracy.pogrelis@vacasa.com
