Introduction
Naples, Florida, is renowned for its stunning beaches, upscale dining, and vibrant arts scene. The city’s allure as a tourist destination has fueled the growth of the short-term rental market, with platforms like Airbnb at the forefront of this flourishing industry. In this blog post, we’ll delve into the short-term rental market in Naples, FL, exploring key statistics and trends that prospective hosts and visitors should be aware of.
Key Market Statistics
Before diving into the intricacies of Naples’ short-term rental market, let’s take a look at some key statistics to set the stage:
- Home Value Trends: According to Zillow, homes in Naples depreciated by 3.10% recently, making it an intriguing market for potential investors and hosts. The median home value stands at an impressive $601,300, showcasing the city’s affluent real estate landscape.
- Short-Term Rental Supply: Chalet reports an impressive 4,538 active short-term rentals in Naples, offering a diverse range of accommodation options for travelers.
- Average Daily Rate: The average daily rate for short-term rentals in Naples is $367.90, providing an idea of the revenue potential for hosts.
- Occupancy Rate: Naples boasts a healthy occupancy rate of 57%, indicating a consistent demand for short-term rentals.
- Annual Revenue: With an annual revenue of $59,600, Naples’ short-term rental market presents a lucrative opportunity for property owners.
- Average Gross Yield: The average gross yield stands at an enticing 9.91%, highlighting the profitability of short-term rentals in Naples.
- Property Tax: According to SmartAsset, the average property tax in Naples is 1.03%.
Now that we have a clear understanding of the market statistics, let’s address some important questions and delve deeper into Naples’ unique character.
