Introduction
Corpus Christi, Texas, a coastal gem on the Gulf of Mexico, is not only a popular vacation destination but also a hotspot for Airbnb and short-term rentals.
In this blog post, we will delve into the dynamics of the short-term rental market in Corpus Christi, examining key data points such as property values, rental statistics, and investment potential.
Additionally, we will provide insights into the city’s demographics, climate, attractions, and peak tourist seasons to help prospective hosts and travelers make informed decisions.
Corpus Christi Real Estate Overview
Let’s start by looking at the real estate landscape in Corpus Christi. According to Zillow, the median home value in the city stands at $214,380. While this figure gives us an idea of the market, it’s important to note that home values have depreciated by 0.40% recently. This slight decline may be attributed to the surge in short-term rental properties and their impact on the housing market.
Short-Term Rental Market Statistics
Corpus Christi boasts a robust short-term rental market with 1,923 active listings, as reported by Chalet. These listings offer travelers a diverse range of accommodations, from beachfront condos to cozy cottages. The average daily rate for these rentals is $216.10, attracting both budget-conscious and upscale travelers.
However, what’s truly interesting is the occupancy rate, which stands at 51% according to Chalet. This implies that hosts can expect their properties to be booked for half of the time they’re available. The annual revenue for short-term rentals in Corpus Christi averages $32,800, indicating strong income potential for property owners. The average gross yield, which measures the return on investment, is a healthy 15.30%.
Property Taxes in Corpus Christi
Before diving into the short-term rental market, it’s essential to consider the financial aspect of property ownership. In Corpus Christi, the average property tax rate is 1.77%, as reported by SmartAsset. This factor should be factored into your calculations when assessing the profitability of your short-term rental investment.
