Are you considering buying a vacation rental property in the US? Whether you’re looking for a property to rent out year-round or just during peak vacation seasons, there are plenty of locations across the country that can offer excellent returns on your investment. However, with so many options available, how do you know where to start?
In this article, we’ll explore some of the best places to buy a vacation rental property in the US. From popular beach destinations to mountain retreats and bustling cities, there’s sure to be something on this list that piques your interest.
1. Orlando, Florida
If you’re looking for a year-round destination that’s popular with families and offers excellent rental returns, look no further than Orlando, Florida. Home to world-renowned theme parks like Walt Disney World and Universal Studios, as well as countless other attractions and amenities, Orlando is a top choice for vacationers from around the globe.
Pros: High demand year-round; strong potential for rental income; diverse range of properties available.
Cons: Heavy competition from other vacation rental owners; requires significant investment upfront.
2. Myrtle Beach, South Carolina
Another beach destination that’s always in high demand is Myrtle Beach, South Carolina. With over 60 miles of coastline and plenty of attractions like golf courses, amusement parks, and shopping centers nearby, Myrtle Beach is a popular choice for families and groups of friends looking for a fun-filled getaway.
Pros: Strong rental demand during peak seasons; relatively affordable compared to other beach destinations; wide range of properties available.
Cons: Can be affected by hurricanes during hurricane season; higher maintenance costs due to saltwater exposure.
3. Gatlinburg, Tennessee
For those who prefer mountain retreats over beach vacations, Gatlinburg, Tennessee is an excellent option. Located in the heart of the Great Smoky Mountains, Gatlinburg offers breathtaking views, outdoor recreation opportunities like hiking and skiing, as well as plenty of family-friendly attractions like Dollywood and Ripley’s Aquarium.
Pros: High demand during peak seasons; lower upfront costs compared to beach destinations; strong potential for rental income.
Cons: Can be affected by wildfires and heavy snowfall during winter months; limited rental demand outside of peak seasons.
4. Austin, Texas
If you’re looking for a vacation rental property in a bustling city with plenty of cultural attractions and nightlife options, Austin, Texas is an excellent choice. Known for its live music scene, culinary offerings, and outdoor recreation opportunities like hiking and swimming in natural springs, Austin attracts visitors from around the world.
Pros: Strong year-round rental demand; diverse range of properties available; lower upfront costs compared to beach destinations.
Cons: Can be affected by extreme heat during summer months; higher competition from other vacation rental owners.
5. Scottsdale, Arizona
For those looking for a warm-weather destination with plenty of outdoor recreation opportunities and luxury amenities, Scottsdale, Arizona is an ideal choice. With over 300 days of sunshine per year and attractions like golf courses, spas, and shopping centers nearby, Scottsdale attracts both families and couples looking for a relaxing vacation.
Pros: High-end luxury market with strong potential for high rental incomes; diverse range of properties available; relatively low upfront costs compared to other luxury destinations.
Cons: Limited rental demand outside of peak seasons; can be affected by extreme heat during summer months.
The Bottom Line
No matter what your preferences are when it comes to vacation destinations, there’s sure to be a location on this list that meets your needs. When choosing a vacation rental property, it’s important to take into account factors like upfront costs, rental demand, and potential for rental income. By doing your research and carefully considering all of your options, you can make an informed decision that leads to a profitable investment for years to come.