Airbnb Market Analytics & Investment Insights
Annual Revenue
$31,734
Based on 50 full time Airbnb rentals
Average Daily Rate
$267
Gross Yield
As of October of 2024, Homes in 38120 ZIP Code have depreciated by -0.30%, with the median home value standing at $418,974, according to Zillow.
There are currently 50 active short-term rentals in 38120 ZIP Code. The average daily rate for these rentals is $267. This translates to an annual revenue of $31,734 for short-term rentals as of October of 2024.
38120 ZIP Code is an investor-friendly location with short-term rental regulations favorable to those looking to invest in short-term rentals.
Average Daily Rate Trend
$267
Occupancy Rate Trend
45%
Let our agents guide you to the best short-term rental investments in Memphis, TN
As of October of 2024, the average gross yield for short-term rentals in 38120 ZIP Code is 7.62%. However, potential investors should also consider the average property tax, which stands at 1.25% according to SmartAsset.
The median household income in 38120 is $58,231.
As of October of 2024, the occupancy rate for Airbnb rentals in 38120 is 44.5%, which is lower than the average occupancy rate for the United States.
Discover the leading hosts in Memphis ranked by guest ratings and active listings. These hosts combine scale with exceptional guest satisfaction, setting the benchmark for success.
Andrew leads the market with 11 active listings and maintains an exceptional 4.93 average guest rating.
The Rambler leads the market with 8 active listings and maintains an exceptional 4.69 average guest rating.
Lisa leads the market with 8 active listings and maintains an exceptional 4.97 average guest rating.
These top performers serve as benchmarks for what drives success in Memphis's competitive short-term rental scene. Their strategies combine operational efficiency with outstanding guest experiences, making them the gold standard for aspiring hosts and property managers in the area.
10 hosts available
As of October of 2024 The unemployment rate in 38120 ZIP Code is 4.9%, which is higher than the national average of 4.1%.
The most impactful amenities for short-term rentals in 38120 include a Outdoor shower, Mosquito net, and Sauna.
38120 ZIP Code is a popular destination for travelers, with Airbnb demand coming from cities like Memphis, TN (5.09% of all guests), Nashville, TN (3.14% of all guests), and Chicago, IL (2.33% of all guests).
The top short-term rental hosts in 38120 ZIP Code include Andrew, The Rambler and Lisa. These hosts have an average rating of 4.93, 4.69 and 4.97 respectively.
The most popular property types in 38120 ZIP Code are 2-bedroom units, with an average daily rate of $267 and an annual revenue of $24,638.
The average booking lead time for short-term rentals in 38120 ZIP Code is 56 days.
Disclaimer
This page and the data presented are for informational purposes only. The information provided should not be construed as financial, legal, or investment advice. Market conditions can change rapidly, and past performance does not guarantee future results. Always consult with qualified professionals before making investment decisions.
7.62%
Occupancy Rate
45%