Big Bear Lake, located in San Bernardino County, California, is a popular tourist destination known for its beautiful mountains, lakes, and skiing resorts. With the rise of short-term rental platforms like Airbnb, Big Bear City’s real estate market has seen a significant boost in recent years.
In this blog post, we will take a closer look at the (Airbnb) short-term rental market in Big Bear City, CA, using various data points.
Market Overview
According to Zillow, the median home value in Big Bear City, CA, is $597,092, which has appreciated by -1.50% over the past year. This appreciation rate is slightly lower than the national average but still indicates a healthy real estate market.
Supply
The most popular homes are 3-bedroom homes, comprising 35.83% of inventory. This is followed by 2 and 4-bedroom homes at 31.86% and 15.51% of the total inventory, respectively.
Revenue
The short-term rental market in Big Bear City, CA, is thriving, with 3,692 active short-term rentals as reported by Chalet, a market research firm. The occupancy rate is 39%, resulting in an annual revenue of $52,800.
Average Daily Rate
The median ADR for the market is $442.60. The Average Daily Rate is the highest for 6-bedroom homes ($624) followed by 5-bedrooms and 7 bedrooms at $510 and $478 respectively.
Big Bear City, CA, has investor-friendly short-term rental regulations. Unlike some other cities that have placed restrictions on short-term rentals, Big Bear City, CA, has adopted a more liberal approach. This relaxed policy has led to a thriving (Airbnb) short-term rental market, and property owners have reaped the benefits.
Population
Big Bear City, CA, has a population of approximately 5,000 residents, making it a small and tight-knit community. The town is known for its beautiful scenery, crystal clear lake, and various outdoor activities that draw in visitors from all over the world.
Hosts
The market is dominated by property management firms. The largest host is Destination Big Bear with 7.65% of the total inventory and an average review of 4.65 ⭐️s .
Climate and Geography
Big Bear City, CA, experiences four distinct seasons. Summers are mild, with temperatures ranging from the 60s to 80s, making it an ideal time to enjoy outdoor activities such as hiking, fishing, and water sports. In the winter, temperatures can dip down to the 20s, creating the perfect environment for skiing, snowboarding, and other winter sports. The town is situated at an elevation of 6,750 feet, and its proximity to the San Bernardino Mountains provides stunning views of the surrounding landscape.
