Austin, Texas: Vacation Rental Market Report
30 Million Visitors, $8.7 Billion in Tourism Generated Revenue, One of the Most Profitable US Cities For Vacation Rental Managers
Airbnb alone reported 482K guest arrivals in Austin in 2018, an impressive 48% growth rate since 2016. Occupancy rates, ADR and RevPar see continued growth, creating an incredibly lucrative market for vacation rental managers and owners in which demand exceeds supply YOY. Every vacation rental manager’s dream come true. Compare Growth and Revenue Rates of Hotels vs. Vacation Rentals.
Austin ordinances allow apartment buildings to license up to a quarter of their units as VRs or short-term rentals. Even apartment complexes where short-term renting has traditionally been disallowed by lease provisions are starting to loosen rental provisions. See Accommodation Growth to Demand Ratios in Austin.
Realtor.com ranks Austin as the 9th most profitable place to own an Airbnb-type rental. Austin’s event focus, coupled with the burgeoning business climate, has created a year-round market, with a non-stop flow of people keeping occupancy levels fairly high every season. Are your cap rates meeting the industry norm?
RedAwning outperforms rental incomes on average by 52%+ Schedule a time to talk with one of our vacation rental specialists about your vacation rental(s) and how RedAwning's experience and suite of tools can help maximize your vacation rental revenue, while reducing the time needed to manage your properties.