Blue Ridge, GA, is a picturesque town located in the Appalachian Mountains of Georgia. With its natural beauty, charming downtown, and abundance of outdoor recreational activities, it’s no surprise that Blue Ridge has become a popular tourist destination.
This has led to a boom in the (Airbnb) short-term rental market, with many investors purchasing homes and turning them into vacation rentals.
In this blog post, we will take a closer look at the short-term rental market in Blue Ridge, including key data points and trends.
Market Overview
To understand the dynamics of the short-term rental market in Blue Ridge, let’s delve into some key statistics and figures.
Supply
The most popular homes are 2-bedroom homes, comprising 29.81% of inventory. This is followed by 1 and 3-bedroom homes at 26.56% and 20.76% of the total inventory, respectively.
Homes Appreciation
As of October 2024, according to Zillow, homes in Blue Ridge experienced an appreciation of 0.98%. This data indicates a significant increase in property values.
Median Home Value
As of October of 2024, Homes in Blue Ridge have appreciated by 0.98%. The median home value in Blue Ridge is $491,800 as reported by Zillow. This figure highlights the city’s robust real estate market and the potential for long-term property appreciation.
Active Short Term Rentals
As of October 2024, Blue Ridge boasts a significant Airbnb rental market, with approximately 1,470 active rentals. This abundance of available properties provides ample opportunities for investors and homeowners looking to capitalize on the tourism demand.
Average Daily Rate
The median ADR for the market is $400. The Average Daily Rate is the highest for 5 bedroom homes ($335) followed by 4-bedrooms and 3 bedrooms at $308 and $251 respectively.
Occupancy Rate
Chalet data reveals an occupancy rate of 56% for Airbnb rentals in Blue Ridge. This high demand ensures a consistent stream of income for property owners and investors.
How Profitable is Airbnb in Blue Ridge ?
As of October 2024, the average gross yield, which represents the annual income generated by a property as a percentage of its value, is 13.64% in Blue Ridge. This figure suggests that short-term rentals in the city offer a favorable return on investment. Blue Ridge is ranked #30 by return on investment on Airbnb rentals in the United States.
Annual Revenue
According to Chalet, short-term rentals in Blue Ridge earn an average of $46,260 annually, highlighting the strong investment potential in the city’s market. You can evaluate your properties using our free Airbnb calculator.
Property Tax
According to SmartAsset, the average property tax in Blue Ridge is 0.40%. This relatively moderate tax rate is an important consideration for those looking to invest in short-term rental properties.
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Regulations
Blue Ridge’s short-term rental regulations are somewhat investor-friendly, with different zoning regulations and limitations in place. Understanding these regulations is crucial for potential investors to ensure compliance and a smooth operation.
Hosts
The market is dominated by property management firms. The largest host is Blue Sky Cabin with 4.82% of the total inventory and an average review of 4.65⭐️s .
Key Data Points
- Median Household Income: According to Data USA, the median household income in Blue Ridge, GA, is $38,686. This is lower than the national average but is in line with the state average for Georgia.
- Climate: Blue Ridge has a humid subtropical climate with hot summers and mild winters. The average high temperature in July, the hottest month of the year, is 86°F, while the average low temperature in January, the coldest month, is 27°F.
- Population Size: According to the latest U.S. Census data, the population of Blue Ridge, GA, is 1,350.
- Sports Teams: Blue Ridge does not have any professional sports teams based in the town.
- Colleges: There are no colleges located in Blue Ridge, GA.
- Crime Rate: According to Neighborhood Scout, the crime rate in Blue Ridge, GA, is lower than the national average, with a crime rate index of 16 out of 100.
- Visitors: According to the Blue Ridge Mountains Arts Association, visitors to Blue Ridge, GA, come from all over the United States, with a significant number coming from nearby states such as Florida, Tennessee, and North Carolina.
- Total Number of Visitors: While specific visitor numbers are difficult to track, Blue Ridge is known as a popular tourist destination, with visitors flocking to the area throughout the year.
- Tourist Attractions: Blue Ridge offers a wide range of tourist attractions, including hiking and biking trails, fishing and boating opportunities, local wineries and breweries, and unique shopping and dining experiences.
- Peak Season: The peak season in Blue Ridge, GA, is during the fall months when the leaves on the trees change colors and create a stunning display of natural beauty. However, visitors come to Blue Ridge throughout the year, with summer and winter also being popular seasons.
Guests
The majority of the guests come from inside of Georgia. 14.20% of all guests are from Atlanta followed by Tampa with 2.50%.
Conclusion
In conclusion, the short-term rental market in Blue Ridge, GA, is a lucrative investment opportunity with plenty of potential for growth. With its strong real estate market, increasing supply of short-term rentals, high occupancy rates, and relatively low property tax rates, Blue Ridge is an attractive option for investors. Additionally, the lack of specific short-term rental regulations in Blue Ridge makes it even more appealing for those looking to enter the market. Overall, the short-term rental market in Blue Ridge looks set to continue to thrive in the coming years.
