Hampton Roads Ranks #10 Top U.S. Area to Buy a Vacation-Rental Home

Hampton Roads Ranks #10 Top U.S. Area to Buy a Vacation-Rental Home
August 1, 2020 sandbridgehouses

Rented Research partnered with Weiss Analytics to rank vacation rental destinations by the cost of ownership, short-term revenue potential, acquisition cost, annual appreciation, and projected changes in asset value.

“Our findings uncover the most lucrative locations to buy real estate where the cost of ownership is outweighed by the returns vacation rentals provide. This year, our bustling global economy came to a screeching halt with the travel industry at the center of a near-collapse,” said Andrew McConnell, founder and CEO of Rented, Inc. “Hospitality is still front and center, but it’s become clear that there is more to vacation rental investment management than finding a property and someone to keep things clean.”

Rented and Weiss note a “dramatic shift” in drive-to destinations and markets within two to five hours of major metro areas, which are seeing some of the highest returns in vacation home rentals.

Rented Inc. and Weiss Analytics’ fifth annual analysis of top vacation rental markets looks at properties based on the highest return on investment. The rankings use a three-bedroom, two-bath stand-alone home rental as a base and then compare this vacation housing across hot spots based on homeownership, short-term revenue potential, cost to acquire, annual appreciation and projected changes in asset value.

Overall, the report found that Florida’s Panhandle is the top vacation-home investment area in the U.S. with an index score of 98.7, though Siesta Key and Miami Beach also made the top 20. Out of 100 cities rated, El Paso, Texas, came in last with an index score of 13.9.

Top 20 U.S. vacation-rental investment spots
1. Florida Panhandle – 98.7 (index score)
2. South Jersey Shore, N.J. – 93.4
3. The Poconos, Pa. – 93.0
4. Smoky Mountains, Tennessee – 77.8
5. Central Texas – 77.7
6. Phoenix Metro Area, Ariz. – 77.0
7. Ocean City, Md. – 74.4
8. Siesta Key, Fla. – 74.2
9. Charleston Metro/Coastal, S.C. – 73.5
10. Hampton Roads, Va. – 73.3
11. Hudson Valley, NY – 72.9
12. Leavenworth, Wash., D.C. – 72.4
13. Inland Empire, Calif. – 72.1
14. The Adirondacks, NY – 71.3
15. Chattanooga, Tenn. – 70.6
16. The Hamptons, NY – 70.2
17. Columbus, Ohio – 69.9
18. Portland, Maine – 69.4
19. Miami Metro Area, Fla. – 68.6
20. Omaha, Neb. – 68.5