Last updated: October 2024
The Western United States, known for its vast and diverse landscapes, offers a multitude of opportunities for mid-term rental investors. From the majestic Rocky Mountains to the scenic coastlines of the Pacific, and from vibrant urban centers to serene rural retreats, this region is a prime destination for a wide array of visitors.
This guide highlights the top mid-term rental markets in the Western U.S., focusing on key metrics such as median gross yield, home value trends, and rental income potential. By analyzing these factors, we provide valuable insights to help investors make informed decisions and maximize their returns in this dynamic region.
Our advanced tool, Chalet Intel, delivers in-depth insights and strategies tailored for investors at all levels. It includes a robust calculator, regulation summaries, and extensive data on both short-term and mid-term rentals. Links for each market are provided for detailed individual analysis.
1. Lake Havasu City, Arizona
Lake Havasu City, AZ, known for its stunning lake and recreational opportunities, attracts visitors seeking water sports and outdoor adventures.
Lake Havasu City has experienced a notable increase in home values by 10.7%, with the average home price now at $425,946. The median annual revenue is $33,000, with a monthly rate of $3,000. With 171 full-time listings and a property tax rate of 0.63%, the gross yield is 7.75%.
For more comprehensive insights into Lake Havasu City as a rental market, explore the Lake Havasu City Airbnb Investor Guide and Lake Havasu City Rental Regulations.
2. Henderson, Nevada
Henderson, NV, located near Las Vegas, offers a blend of suburban tranquility and easy access to the bustling attractions of its famous neighbor.
Henderson has seen a notable increase in home values by 6.7%, with the average home price now at $474,219. The median annual revenue is $35,640, with a monthly rate of $3,180. With 464 full-time listings and a property tax rate of 0.74%, the gross yield is 7.52%.
For more insights into Henderson as a rental market, explore the Henderson Airbnb Investor Guide and Henderson Rental Regulations.
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3. Reno, Nevada
Reno, NV, known for its casinos and proximity to Lake Tahoe, offers a mix of entertainment and outdoor activities that attract a diverse range of visitors.
Reno has seen a slight increase in home values by 1.2%, with the average home price now at $516,399. The median annual revenue is $36,000, with a monthly rate of $3,000. With 391 full-time listings and a property tax rate of 0.94%, the gross yield is 6.97%.
For more insights into Reno as a rental market, explore the Reno Airbnb Investor Guide and Reno Rental Regulations.
4. Scottsdale, Arizona
Scottsdale, AZ, known for its luxurious resorts, golf courses, and vibrant arts scene, attracts visitors looking for upscale experiences and relaxation.
Scottsdale has seen a moderate increase in home values by 5.4%, with the average home price now at $789,852. The median annual revenue is $51,900, with a monthly rate of $4,700. With 1,206 full-time listings and a property tax rate of 0.59%, the gross yield is 6.57%.
For more insights into Scottsdale as a rental market, explore the Scottsdale Airbnb Investor Guide and Scottsdale Rental Regulations.
5. Boise, Idaho
Boise, ID, known for its outdoor recreation and vibrant cultural scene, offers a high quality of life that attracts visitors and residents alike.
Boise has seen a slight increase in home values by 1.7%, with the average home price now at $480,171. The median annual revenue is $30,000, with a monthly rate of $2,500. With 472 full-time listings and a property tax rate of 0.75%, the gross yield is 6.25%.
For more insights into Boise as a rental market, explore the Boise Airbnb Investor Guide and Boise Rental Regulations.
6. Honolulu, Hawaii
Honolulu, HI, known for its stunning beaches and vibrant culture, is a top destination for tourists seeking tropical experiences and luxury accommodations.
Honolulu has seen a stable increase in home values by 0.9%, with the average home price now at $975,180. The median annual revenue is $54,000, with a monthly rate of $4,500.With 1,024 full-time listings and a property tax rate of 0.35%, the gross yield is 5.54%.
For more comprehensive insights into Honolulu as a rental market, explore the Honolulu Airbnb Investor Guide and Honolulu Rental Regulations.
Each of these markets in the Western U.S. offers unique opportunities for mid-term rental investors, combining strong financial metrics with attractive tourist destinations. For a comprehensive overview, including detailed analyses, calculators, and regulation insights, make sure to explore our latest tool, Chalet Intel.
