If you plan well, a vacation rental can be extremely lucrative for extra income. And with rental sites like Airbnb and Vrbo, it can make it even easier. Surprisingly, Augusta is one of the best cities to own a vacation rental in! Whether it’s a spare room, a mother-in-law suite, or your entire home, there is good money to be made. In an article from LawnStarter, short-term rental hosts can bring in an average of $44,000 a year, according to market analysis.
What Makes The Best Cities To Own A Vacation Rental?
As with any investment, it takes some planning. The income potential will vary depending on where your vacation rental property is located. But no worries, LawnStarter did the work for you to find the best cities to own a vacation rental.
The study looked at 190 of the biggest cities in the United States. The best cities were determined by many factors such as revenue potential, initial investment costs, and average expenses. They also took into account local entertainment, safety, and climate.
The Top 10
Out of the top 10 best cities to own a vacation rental, six of them are located in the South. Must have something to do with Southern hospitality! And of course, it probably doesn’t hurt that the cities are in a warm climate.
Augusta actually made the top 10 list… coming in at number 10! You may not think of Augusta as a vacation hotspot, but when it comes to costs, we are competitive. In fact, the LawnStarter article says, “Host expenses in Augusta are particularly low, putting more money back in your pocket.”
When we saw Augusta on this list, our first thought was the popularity of rentals in the area due to a particular golf tournament. But that’s one time of year where rental prices are the highest. Which is good if you’ve invested in rentals in the area.
Here’s a look at the top 10 best cities for vacation rentals, according to LawnStarter!