Airbnb Data on 3,820 Active Vacation Rentals in Daytona Beach

Introduction

Daytona Beach, Florida, is a renowned destination known for its beautiful beaches, thrilling racing events, and a vibrant cultural scene. This coastal city attracts visitors from around the world, making it a hotspot for short-term rentals. In this blog post, we will delve into the short-term (Airbnb) rental market in Daytona Beach, FL, and explore key statistics, trends, and insights for both property owners and travelers.

Key Market Data

Let’s begin by examining some essential data points that shed light on the short-term rental market in Daytona Beach:

Property Trends

• Home Depreciation: According to Zillow, homes in Daytona Beach depreciated by 0.40%, which can be an important factor for potential investors to consider.
• Median Home Value: The median home value in Daytona Beach stands at $260,741, providing context for property investors regarding market prices.

Short-Term Rental Stats

• Active Listings: Chalet reports a total of 3,820 active short-term rentals in Daytona Beach, signifying a robust market for travelers and property owners.
• Average Daily Rate: The average daily rate for short-term rentals in Daytona Beach is $245.80, making it an attractive proposition for property owners.
• Occupancy Rate: Chalet data indicates an occupancy rate of 54%, indicating consistent demand for short-term rentals.
• Annual Revenue: Property owners can expect an annual revenue of $40,000 on average, a substantial return on investment.
• Gross Yield: The average gross yield for short-term rentals is an impressive 15.34%, making it a financially attractive prospect for investors.
• Property Tax: SmartAsset reports an average property tax rate of 1.03%, an essential financial consideration for property owners.

Now that we have a clear understanding of the market data, let’s delve into some essential information about Daytona Beach, FL.

Daytona Beach: City Overview

Demographics

• Median Household Income: As of my last knowledge update in January 2022, the median household income in Daytona Beach, FL, was approximately $33,000, which is a significant factor in determining the affordability of short-term rentals for potential visitors.
• Population Size: Daytona Beach had a population of around 68,000 residents, and it’s crucial to consider this when gauging the potential demand for short-term rentals.

Climate

Daytona Beach boasts a pleasant subtropical climate with warm, humid summers and mild winters. With an average of 230 sunny days a year, it’s an attractive year-round destination for travelers.

Sports and Education

• Sports Teams: Daytona Beach is home to the Daytona Tortugas, a Minor League Baseball team affiliated with the Cincinnati Reds, offering sports enthusiasts some exciting games to attend.
• Colleges: Daytona Beach is famous for being the home of Embry-Riddle Aeronautical University, known for its aviation and aerospace programs, and Daytona State College.

Safety

When considering a short-term rental, safety is paramount. Daytona Beach has had some challenges with crime rates, with areas of the city experiencing higher crime rates than others. Property owners and visitors should be vigilant and research the specific neighborhood’s safety record.

Tourism in Daytona Beach

Visitor Demographics

• Visitor Origins: Visitors come from a variety of places, including neighboring cities, states, and international travelers attracted to the city’s famous events and attractions.
• Total Visitors: On average, Daytona Beach welcomes over 8 million visitors annually, making it a prime location for short-term rentals.

Tourist Attractions

Daytona Beach is a city that offers something for everyone. From its world-renowned beaches to the Daytona International Speedway, the Halifax Historical Museum, and the Ponce de Leon Inlet Lighthouse and Museum, there are numerous attractions to explore.

Peak Seasons

The peak tourist season in Daytona Beach typically coincides with events like the Daytona 500 in February, Bike Week in March, and the Coke Zero Sugar 400 in August. However, the pleasant climate and year-round activities make Daytona Beach a desirable destination throughout the year.

In conclusion, Daytona Beach, FL, offers an enticing short-term rental market, with a mix of key data points, attractive returns, and a steady stream of tourists. Property owners and travelers alike can benefit from understanding the market dynamics and the city’s unique attractions. Whether you’re looking to invest in a short-term rental property or plan a vacation, Daytona Beach has much to offer.