Over the past ten years, Airbnb has proven very popular with tourists when booking accommodation for a vacation. The service has also become a method for many people to earn some extra income by renting out rooms or their entire home for a couple of nights to keen travelers.
Due to the nature of the property market, some areas are always going to be more expensive than others, a trend that can also be seen on Airbnb. A new study has discovered which Cities in the USA are most profitable for Airbnb hosts.
Are you missing out on thousands by not putting your property on the website? Let’s take a look.
Scottsdale, Arizona
Scottsdale in Arizona came out as the most profitable US City, with a one-night stay there costing $449 on average, which is 55% of the median weekly salary in the area. Scottsdale is a popular tourist spot, particularly for those who enjoy relaxing spa resorts and golf courses.
Tempe, Arizona & Charlestown, South Carolina
Tied for second place are Tempe, Arizona, and Charlestown, South Carolina, with a single-night stay in both locations coming out at 50% of the average weekly wage. Rooms in Tempe typically go for around $402 per night, while rooms in Charleston are cheaper at an average of $345.
Phoenix, Arizona
Phoenix, which is the capital of Arizona, was next in the rankings. On average, a one-night stay in an Airbnb in Phoenix will cost you $385, which is 47.9% of the average weekly wage in the area. There is plenty to do in Phoenix, and 19.5m visited the City in 2022.
Las Vegas, Nevada
Las Vegas is one of the most visited cities in the USA, alongside New York, Los Angeles, and Orlando. It is also the fourth most profitable City for Airbnb hosts in the area with a one-night stay typically costing $312 per night – 43.1% of the average weekly wage in the city.
Glendale, Arizona
Glendale, Arizona is the 6th-most profitable city in the US for Airbnb hosts. The area is popular with overnight football fans as it is where the Arizona Cardinals play their home matches. A one-night stay costs $344 on average which is 42.8% of the city’s average weekly wage.
Gilbert, Arizona
Gilbert is next door to Glendale in Arizona and it is also next door to it on this list. A one-night stay in Gilbert will cost you $329 on average which works out as 40.9% of the average weekly wage in the area.
Chandler, Arizona
The sixth and final city in Arizona to make the top ten is Chandler. There are several tourist spots in Chandler including the Arizona Railway Museum and Gilbert Regional Park. An overnight stay in a Chandler Airbnb costs $322 – 40% of the average weekly wage in the city.
Virginia Beach, Virginia
Virginia Beach in Virginia is the ninth most profitable Airbnb city in the USA. The city has the longest pleasure beach in the world and brought in over 13 million visitors in 2022. An Airbnb costs $332 per night in Virginia Beach – 38.7% of the area’s high average weekly wage.
North Charleston, South Carolina
North Charleston sneaks into the top ten, largely due to the low wages in the area. The average weekly wage in North Charleston is just $690 – the second lowest of any city that was analyzed during the study. A one-night Airbnb in the area costs, on average, $254 (36.7% of 690). The study to determine the top ten was undertaken by finance experts Wealth of Geeks who compared the average cost of Airbnb’s in each city with the average weekly wage in each city. More great articles…
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Victoria Cornell helps women adopt a positive mindset even when the struggles of motherhood feel overwhelming. Victoria writes for multiple media outlets where she writes about, saving money, retirement, ways to reduce stress with mindset, manifesting, goal planning, productivity, and more.
