In a shifting real estate market, the guidance and expertise that Inman imparts are never more valuable. Whether at our events, or with our daily news coverage and how-to journalism, we’re here to help you build your business, adopt the right tools — and make money. Join us in person in Las Vegas at Connect, and utilize your Select subscription for all the information you need to make the right decisions. When the waters get choppy, trust Inman to help you navigate.
Short-term rental companies are hoping to capitalize on the shift toward remote work and the return of travel following the COVID-19 pandemic.
In fact, Airbnb has made the growing trend of people spending more time in short-term rentals a key to its future growth. The company’s CEO Brian Chesky currently lives and works from Airbnbs across the continent, and the number of long-term stays — those that were 28 days or longer — has doubled on the platform since 2019.
As it looks to encourage more people to find more places to stay for longer periods of time, Airbnb released a series of rankings on Wednesday. We’ll call it the power rankings for long-term stays at short-term rentals.
These are the places investors can look to capitalize on demand or high nightly prices and where travelers can look to find places with good track records of hosts meeting the needs of people looking to extend a trip past a few short nights.
Top-earning markets
This one’s for the hosts, the real estate investors creating the experiences that make short-term rental platforms tick. More than 4 in every 10 hosts told Airbnb they were listing their homes on the platform due in part to rising prices.
Airbnb listed the top 10 markets in the U.S. and Canada based on median host earnings in the first three months of this year. Here are the top five based on the average daily rate for those markets, according to data from short-term rental data company AirDNA. (A caveat: long-term stays often have lower nightly rates, but ADR should serve as an accurate benchmark.)
Indio, California: $575/night
Located in the Coachella Valley of Southern California, Indio is a city in Riverside County that is 23 miles east of Palm Springs. Nicknamed the City of Festivals, numerous events are held in the city. As it is located in the Sonoran desert area, wildlife here reflects the environment. The landscape reflects its location which is very near the San Andreas Fault. High mountain ranges on three sides contribute to its unique and year-round warm climate.
Palm Springs, California: $506/night
In the cities of Desert Hot Springs and Palm Springs, traffic lights trail along Highway 74 at sunset on a cloudy day.
La Quinta, California: $449/night
Marco Island, Florida: $309/night
Marco Island
Whistler, British Columbia: $272/night
Whistler Blackcomb in winter at dusk
Most popular
Big urban areas suffered some of the biggest slowdowns for short-term rental stays as a result of the pandemic and ensuing policies put in place. But the tide is starting to turn, with urban markets seeing some of the biggest growth in recent reports.
The data is also backed up by Airbnb’s latest report. Whether it’s beaches of southern California or the bustling cities on the coasts, these are the top five most popular markets for long-term stays ranked by occupancy. Here are the most popular markets for long-term stays, with data from AirDNA.
Victoria, British Columbia
Victoria harbor during the day
- 1,101 active listings
- Average daily rate: $148
- Occupancy rate: 85 percent
- Percent entire home: 88 percent
Vancouver, British Columbia
A view of Vancouver, Canada, the capital city’s downtown living apartment condominiums in the summertime.
- 3,808 active listings
- Average daily rate: $156
- Occupancy rate: 83 percent
- Percent entire home: 82 percent
Seattle
The Seattle skyline seen from Kerry Park early in the morning.
- 5,391 active listings
- Average daily rate: $174
- Occupancy rate: 80 percent
- Percent entire home: 84 percent
San Francisco
San Francisco skyline
- 4,603 active listings
- Average daily rate: $236
- Occupancy rate: 79 percent
- Percent entire home: 66 percent
New York City
Getty Images
- 23,573 active listings
- Average daily rate: $214
- Occupancy rate: 74 percent
- Percent entire home: 62 percent
Most affordable
According to Airbnb, the average daily rate for long-term stays was as little as $17 per night in the most affordable location. There are at least five U.S. destinations that rank among the most affordable regions for long-term stays. (Canadian stays will cost a bit more.)
Inman couldn’t repeat the same ultra-low prices reported by Airbnb and full-house stays are considerably more expensive. But according to the short-term stay platform powerhouse, these are the markets nomads can look to and find the most affordable long-term stays.
Tulalip, Washington
Average daily rate for long-term stays: $16.90
Renton
Catlett, Virginia
Average daily rate for long-term stays: $21.80
Sunset over Leesylvania State Park, Virginia
Garretson, South Dakota
Average daily rate for long-term stays: $24.30
Devil’s Gulch of Split Rock River in South Dakota
Lamberton, Minnesota
Average daily rate for long-term stays: $24.40
Minnesota
Angleton, Texas
Average daily rate for long-term stays: $24.50
A windmill stands in a field near Angleton, Texas.
Most hospitable
In the STR world, a five-star rating is considered a key to long-term success. To determine what it considered the “most hospitable” markets, Airbnb filtered out the five-star reviews only from long-term stays.
This could be a reflection of hosts having to stay at the top of their game in competitive markets, as well as a partial reflection of the cities and towns themselves. Here’s the leaderboard, based on the percentage of five-star reviews from long-term stays.
Bend Oregon: 93.7 percent five-star reviews
Aerial establishing a shot of Bend, Oregon, on a hot and sunny day in summer. Scores of people are tubing, paddleboarding, kayaking and surfing in the water of the Deschutes River, especially around the Whitewater Park, a set of artificial rapids and waves.
Halifax, Nova Scotia: 92.6 percent five-star reviews
Peggy’s Cove is a small historic fishing community that has become one of Canada’s most popular tourist attractions, in Nova Scotia, Canada.
Santa Fe, New Mexico: 91.7 percent five-star reviews
A landscape of Santa Fe New Mexico at dusk with warm-colored trees and a moon in the sky.
Boulder, Colorado: 91 percent five-star reviews
Sunrise over the Flatirons in Boulder, Colorado
Key West, Florida: 90.2 percent five-star reviews
