Introduction
Lake Ozark, Missouri, is a popular tourist destination known for its picturesque lake views, outdoor recreational activities, and vibrant atmosphere. With the rise of the sharing economy, the short-term (Airbnb) rental market in Lake Ozark has experienced significant growth and attracted the attention of real estate investors.
In this guide, we will delve into the key aspects of the short-term rental market in Lake Ozark, including market trends, financial performance, regulations, and more. Additionally, we will address various questions regarding the city’s demographics, climate, attractions, and visitor statistics.
Market Overview
Property Appreciation and Median Home Value
According to Zillow, homes in Lake Ozark have appreciated by 5.20% in recent years. This indicates a stable and modest growth rate in property values. The median home value in Lake Ozark currently stands at $336,951, providing a benchmark for property owners and investors in the short-term rental market.
Short-Term Rental Data
Lake Ozark boasts a thriving short-term (Airbnb) rental market, with 635 active rental properties, as reported by Chalet. These rentals contribute to the city’s tourism industry, attracting visitors from various locations.
The average daily rate for short-term rentals is $283, providing owners with a potential revenue stream. The occupancy rate, which indicates the percentage of time a rental is occupied, is at a healthy 46%. This figure demonstrates the demand for short-term accommodations in the area.
Financial Performance
Based on Chalet‘s data, the annual revenue for short-term (Airbnb) rentals in Lake Ozark is estimated to be $35,200. This figure reflects the potential income that property owners can generate through short-term rentals. The average gross yield, which represents the annual income as a percentage of the property value, is approximately 10.45%. This yield indicates that short-term (Airbnb) rentals can be a lucrative investment opportunity in Lake Ozark.
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Addressing Key Questions
To provide a comprehensive understanding of Lake Ozark, let’s now address the questions regarding its demographics, climate, attractions, and visitor statistics.
Median Household Income
The median household income in Lake Ozark, MO, is not specified in the provided data. However, it is worth mentioning that the median household income can impact the demand for short-term rentals, as it determines the affordability and willingness of individuals to travel and stay in vacation accommodations.
Climate
Lake Ozark experiences a humid continental climate, characterized by hot summers and cold winters. The city enjoys moderate precipitation throughout the year, providing ample opportunities for outdoor activities in each season. Summers offer warm temperatures, making it an ideal time to explore the lake and engage in water sports, while winters create opportunities for winter sports enthusiasts.
Population Size
The exact population size of Lake Ozark, MO, is not provided in the given data. However, Lake Ozark is a popular tourist destination, and its population size can vary significantly depending on the time of year and the influx of visitors. The city’s appeal as a vacation spot contributes to the demand for short-term rentals.
Sports Teams and Colleges
Lake Ozark, MO, does not have any major professional sports teams or colleges within its immediate vicinity. However, the city’s proximity to larger urban centers like St. Louis and Kansas City provides residents and visitors with access to a wide range of sports teams and collegiate sports events.
Crime Rate
The data provided does not include information about the crime rate in Lake Ozark, MO. However, it is generally advisable for property owners and investors to research local crime statistics and consult with local authorities to gain a better understanding of the safety and security aspects of the area.
Visitor Demographics
The provided data does not specify the exact sources of visitors to Lake Ozark, MO. However, as a popular tourist destination, the city attracts visitors from various locations. Tourists may come from nearby states such as Missouri, Illinois, Kansas, and Iowa, as well as from other parts of the country. The beauty of the lake, outdoor recreational activities, and vibrant atmosphere make Lake Ozark an appealing destination for a diverse range of visitors.
Total Number of Visitors
The total number of visitors to Lake Ozark, MO, is not mentioned in the provided data. The exact visitor statistics may vary from year to year and depend on factors such as the time of year, major events, and promotional efforts by local tourism organizations. However, the thriving short-term rental market and the popularity of Lake Ozark as a tourist destination suggest a significant number of visitors throughout the year.
Tourist Attractions
Lake Ozark offers numerous attractions that appeal to visitors of all ages. Some of the notable tourist attractions in the area include:
- Lake of the Ozarks: The main attraction of the region, the Lake of the Ozarks, provides opportunities for boating, fishing, water sports, and scenic cruises.
- Bagnell Dam: This historic dam, located on the Osage River, offers tours and scenic viewpoints. It also serves as the gateway to the Lake of the Ozarks.
- Ha Ha Tonka State Park: Known for its natural beauty and geological wonders, Ha Ha Tonka State Park features hiking trails, caves, and a castle-like ruins.
- Big Surf Waterpark: A popular destination for families, Big Surf Waterpark offers thrilling water slides, wave pools, and lazy rivers.
- Bridal Cave: This enchanting cave system features guided tours, stunning rock formations, and an underground lake.
- Main Street Music Hall: Visitors can enjoy live music, comedy shows, and theatrical performances at this lively venue.
Peak Season
The peak season in Lake Ozark, MO, generally aligns with the summer months when the weather is warm and ideal for outdoor activities on the lake. Between May and September, visitors flock to the area to enjoy boating, swimming, fishing, and other water sports. Additionally, holidays and long weekends, such as Memorial Day and the Fourth of July, attract a significant number of tourists. However, Lake Ozark also experiences moderate tourism throughout the year, thanks to its scenic beauty and attractions suitable for different seasons.
Conclusion
Lake Ozark, MO, offers a thriving short-term rental market with promising financial opportunities for property owners and investors. With stable property appreciation, a healthy occupancy rate, and attractive average daily rates, the short-term rental market in Lake Ozark presents a lucrative investment option. The somewhat investor-friendly regulations and potential upcoming laws further enhance the appeal of this market.
Beyond the short-term rental market, Lake Ozark offers a range of tourist attractions, from the picturesque lake and outdoor recreational activities to historical landmarks and family-friendly entertainment. The city’s demographics, climate, and visitor statistics contribute to the demand for short-term accommodations, making Lake Ozark a sought-after destination for travelers.
Whether you’re a potential investor, a homeowner considering short-term rentals, or a traveler looking for a memorable vacation experience, Lake Ozark, MO, presents a compelling destination with its natural beauty, vibrant atmosphere
