Introduction
Lawrence, Kansas, a vibrant college town known for its rich history, diverse culture, and bustling community, is also becoming increasingly popular in the short-term rental market. Whether you’re a local homeowner considering listing your property on Airbnb or a traveler looking for accommodations, understanding the dynamics of the Airbnb market in Lawrence is essential. In this guide, we’ll delve into key metrics, market trends, and essential information for both hosts and guests.
Market Overview
According to Zillow, Lawrence experienced a 5.80% appreciation in home values, with the median home value standing at $294,209. Despite this trend, the short-term rental market remains robust, with 240 active Airbnb listings, as reported by Chalet. The average daily rate for these rentals is $185.20, with an occupancy rate of 53%. This translates to an annual revenue of $30,900 and an average gross yield of 10.50%. It’s important to note that the average property tax in Lawrence is 1.57%, as reported by SmartAsset.
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Understanding the Context
Before diving deeper into the Airbnb market, let’s address some fundamental questions about Lawrence, KS:
Contextual Insights
- Median Household Income: The median household income in Lawrence, KS, is approximately [insert median household income].
- Climate: Lawrence experiences [insert climate description].
- Population Size: The population of Lawrence, KS, is [insert population size].
- Sports Teams: Notable sports teams based in Lawrence include [insert sports teams].
- Colleges: Lawrence is home to [insert colleges].
- Crime Rate: The crime rate in Lawrence, KS, is [insert crime rate].
Visitor Demographics and Attractions
Understanding the demographics and interests of visitors to Lawrence is crucial for hosts and stakeholders in the short-term rental market.
Visitor Insights
- Visitor Origins: Visitors to Lawrence come from [insert visitor origins].
- Total Visitor Count: Annually, Lawrence attracts [insert total visitor count].
- Tourist Attractions: Major tourist attractions in Lawrence include [insert attractions].
- Peak Season: The peak season in Lawrence typically occurs during [insert peak season].
Conclusion
The Airbnb market in Lawrence, KS, offers lucrative opportunities for hosts while providing travelers with unique and affordable accommodations. With a comprehensive understanding of market trends, visitor demographics, and local attractions, hosts can optimize their listings to attract guests and maximize their revenue potential. Likewise, guests can enjoy a memorable stay in Lawrence, exploring its rich history, cultural offerings, and vibrant community. Whether you’re a host or a traveler, Lawrence, KS, promises an unforgettable experience in the heart of the Midwest.
