Airbnb Market Analytics & Investment Insights
Annual Revenue
$27,148
Based on 534 full time Airbnb rentals
Average Daily Rate
$174
Gross Yield
As of October of 2024, Homes in 23503 ZIP Code have appreciated by 4.67%, with the median home value standing at $299,404, according to Zillow.
There are currently 534 active short-term rentals in 23503 ZIP Code. The average daily rate for these rentals is $174. This translates to an annual revenue of $27,148 for short-term rentals as of October of 2024.
23503 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
$174
Occupancy Rate Trend
64%
Let our agents guide you to the best short-term rental investments in Norfolk, VA
As of October of 2024, the average gross yield for short-term rentals in 23503 ZIP Code is 9.04%. However, potential investors should also consider the average property tax, which stands at 1.09% according to SmartAsset.
The median household income in 23503 is $58,231.
As of October of 2024, the occupancy rate for Airbnb rentals in 23503 is 64%, which is higher than the average occupancy rate for the United States.
Discover the leading hosts in Norfolk ranked by guest ratings and active listings. These hosts combine scale with exceptional guest satisfaction, setting the benchmark for success.
Vacasa Virginia leads the market with 123 active listings and maintains an exceptional 4.57 average guest rating.
RoomPicks leads the market with 58 active listings and maintains an exceptional 4.53 average guest rating.
Ryan leads the market with 35 active listings and maintains an exceptional 4.97 average guest rating.
These top performers serve as benchmarks for what drives success in Norfolk'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 23503 ZIP Code is 4%, which is lower than the national average of 4.1%.
The most impactful amenities for short-term rentals in 23503 include a Building staff, Record player, and Sauna.
23503 ZIP Code is a popular destination for travelers, with Airbnb demand coming from cities like Richmond, VA (3.25% of all guests), Washington, DC (2.98% of all guests), and Virginia Beach, VA (2.39% of all guests).
The top short-term rental hosts in 23503 ZIP Code include Vacasa Virginia, RoomPicks and Ryan. These hosts have an average rating of 4.57, 4.53 and 4.97 respectively.
The most popular property types in 23503 ZIP Code are 2-bedroom units, with an average daily rate of $174 and an annual revenue of $31,317.
The average booking lead time for short-term rentals in 23503 ZIP Code is 42 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.
9.04%
Occupancy Rate
64%