Introduction
Bradenton Beach, FL, with its stunning Gulf Coast location and vibrant community, has become a hotspot for vacationers seeking a slice of paradise.
As the popularity of this charming destination continues to grow, so does the Airbnb and short-term rental market. In this blog post, we’ll delve into the dynamics of this market, exploring key metrics, and trends, and answering important questions about Bradenton Beach.
The State of Bradenton Beach Real Estate
Before we dive into the Airbnb and short-term rental market, let’s take a quick look at the state of real estate in Bradenton Beach. As of October 2024, according to Zillow, homes in this area have depreciated by -8.04%. The median home value currently stands at $729,085. These numbers provide important context for the short-term rental market.
Short-Term Rentals in Bradenton Beach
Supply and Demand
As of October 2024, Bradenton Beach boasts a significant number of short-term (Airbnb) rental properties, with 549 active listings, as reported by Chalet. This indicates a healthy supply of rental properties catering to tourists and vacationers.
Pricing and Revenue
The average daily rate for short-term rentals is $329, making it clear that Bradenton Beach offers a range of options to suit various budgets. Additionally, the occupancy rate is an impressive 53.74%, showcasing the high demand for short-term accommodations. The annual revenue for these rentals averages $36,203, a promising figure for potential hosts. The average gross yield of 4.97% suggests that Bradenton Beach can be a lucrative market for property owners.
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Property Taxes
SmartAsset data indicates that the average property tax rate in Bradenton Beach is 0.87%. This is a relevant factor for those considering property investment and short-term rental operations.
Bradenton Beach: Beyond Airbnb
Local Insights
Now, let’s address some key questions about Bradenton Beach to provide a comprehensive view:
Median Household Income
The median household income in Bradenton Beach, FL, stands at approximately $50,000, reflecting a diverse community with varying income levels.
Climate
Bradenton Beach boasts a tropical climate, with warm temperatures year-round. Summers are hot and humid, while winters are mild and pleasant.
Population Size
As of my knowledge cutoff in September 2021, Bradenton Beach had a population of around 1,242 residents. Please refer to the latest census data for the most accurate population figures.
Sports Teams
Bradenton Beach is home to the Pittsburgh Pirates’ spring training facility, McKechnie Field. While it may not host major league teams, it’s a popular spot for baseball enthusiasts.
Colleges
Bradenton Beach doesn’t have its own colleges or universities, but nearby institutions include the State College of Florida and New College of Florida.
Crime Rate
As a beachside community, Bradenton Beach typically has a lower crime rate compared to larger urban areas. However, specific crime rate statistics can vary year to year.
Tourism in Bradenton Beach
Visitor Demographics
Visitors come to Bradenton Beach from various locations, including nearby Florida cities, other U.S. states, and international destinations.
Total Number of Visitors
The total number of visitors to Bradenton Beach can vary seasonally but is substantial, thanks to its appeal as a vacation destination.
Top Tourist Attractions
Some of the biggest tourist attractions in Bradenton Beach include the beautiful Gulf beaches, the Bradenton Beach City Pier, and the vibrant arts and culture scene.
Peak Season
The peak tourist season in Bradenton Beach typically aligns with the winter months when visitors flock to enjoy the warm weather and escape colder climates.
Conclusion
Bradenton Beach, FL, offers a thriving Airbnb and short-term rental market, making it an attractive destination for both property investors and travelers. With an impressive occupancy rate, healthy revenue figures, and a growing supply of rentals, it’s clear that this coastal paradise is a lucrative and inviting option for those looking to enter the short-term rental market.
Furthermore, its diverse community, beautiful climate, and tourist-friendly attractions make Bradenton Beach a well-rounded destination for both residents and visitors alike.
