by Abraham Galvan
For the second year, Rented.com has released its annual short-term rental income report ranking the top cities where one should invest in a rental vacation home.
Destin topped the traditional vacation home market, which includes beach and winter sports destinations, and came in second place in overall top markets. Last year, Destin placed 95th.
According to the website, travelers adding leisure days to their business trips are on the rise and are making urban cities more popular. The report found that urban markets are quickly rising on the list in terms of the potential for a strong return on investment (ROI). This year, Nashville, Tennessee, took the top honors by coming in first in the urban Airbnb and overall market.
“I still think Destin is the real top one to buy and invest,” said Andrew McConnell, Rented.com’s chief executive officer. “I have many friends that live in the area and many people don’t know how beautiful the beaches are.”
The report used key points to identify the most profitable destinations that ultimately impact a property owner’s ROI. These factors included real estate prices; local vacation rental rates; insurance, taxes and maintenance costs; the overall popularity of the tourist destination; and the average annual vacation rental for ROI.
“(Destin is) a perfect place to go for vacation. … It’s a fantastic spot to go with friends and family.” McConnell said.
Ocean Reef Vacation Rentals & Real Estate’s Marketing Director Richard Olivarez was not surprised of Destin being a desired place to buy rental property.