Introduction
Miami Beach is one of Florida’s premier destinations, drawing tourists from around the world with its vibrant nightlife, luxurious beaches, and renowned cultural scene. Each ZIP code in Miami Beach offers unique investment opportunities for short-term rental investors, with different levels of gross yield, annual revenue, and property values. Here’s an analysis of some of the top-performing submarkets.
33139 – South Beach and Art Deco District
- Gross Yield: 8%
- Annual Revenue: $36,690
- Zillow Home Value: $463.4K
ZIP code 33139 encompasses the famous South Beach and the Art Deco Historic District, known for its nightlife, beach access, and iconic pastel-colored architecture. This area has one of the highest concentrations of full-time short-term rentals, with 3,519 listings, making it a hotspot for Airbnb and similar platforms. The gross yield of 8% and solid annual revenue of $36,690 reflect the constant demand from tourists looking to experience the lively atmosphere of Miami Beach. With a moderate home value for Miami Beach standards, this ZIP code is ideal for investors aiming to capitalize on high tourist traffic.
33141 – North Beach
- Gross Yield: 7%
- Annual Revenue: $27,566
- Zillow Home Value: $420.6K
Located in North Beach, ZIP code 33141 offers a quieter alternative to South Beach, appealing to families and those seeking a more relaxed vibe. With a gross yield of 7% and an annual revenue of $27,566, this area offers steady income potential for investors at a relatively affordable property cost of $420.6K. The North Beach area has recently gained popularity due to new developments, restaurants, and a focus on preserving green spaces, making it an attractive location for both short- and long-term rentals.
33140 – Mid-Beach
- Gross Yield: 6%
- Annual Revenue: $40,790
- Zillow Home Value: $688.0K
ZIP code 33140 covers Mid-Beach, known for its upscale hotels, oceanfront resorts, and historic architecture along Collins Avenue. This area has a high demand for luxury accommodations, reflected in its high annual revenue of $40,790. Although the gross yield is slightly lower at 6%, the strong rental income and higher property values make it a profitable area for investors looking for a more premium market. With nearly 2,900 full-time listings, Mid-Beach caters to a sophisticated clientele, making it a solid choice for high-end short-term rentals.
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33154 – Bal Harbour and Surfside
Zillow Home Value: $1.1M
Gross Yield: 3%
Annual Revenue: $37,261
ZIP code 33154, which includes Bal Harbour and Surfside, is an affluent area known for luxury shopping, high-end dining, and pristine beaches. Although it has a lower gross yield of 3%, the area’s high-end reputation ensures a steady stream of wealthy visitors, resulting in a respectable annual revenue of $37,261. With a Zillow home value of $1.1M, this ZIP code requires a larger initial investment, but the high-income clientele and exclusivity make it appealing for luxury short-term rentals. This is an excellent option for investors interested in premium, high-margin rentals.
33109 – Fisher Island
- Gross Yield: 1%
- Annual Revenue: $40,589
- Zillow Home Value: $6.2M
Fisher Island, represented by ZIP code 33109, is one of the most exclusive and affluent communities in the United States. Accessible only by ferry or private yacht, Fisher Island attracts ultra-wealthy visitors and residents. While the gross yield is just 1%, the annual revenue of $40,589 and a Zillow home value of $6.2M reflect the exclusivity of this location. This ZIP code has only three full-time listings, underscoring its exclusiveness. Investing here would appeal to those seeking high-end, luxury short-term rentals aimed at the elite market.
Conclusion
Miami Beach offers a wide range of investment opportunities across various neighborhoods. Whether you’re looking for the bustling atmosphere of South Beach, the upscale tranquility of Bal Harbour, or the ultra-exclusive appeal of Fisher Island, there’s a submarket to match your investment strategy. Each of these ZIP codes provides unique advantages for short-term rental investors, ensuring Miami Beach remains a premier destination for lucrative short-term rental investments.
