10 Best Airbnb Markets in Arizona (Ranked for 2026)

Arizona’s short-term rental market in 2026 is defined by a sharp divide between its high-yield river and desert towns and the more expensive, competitive urban centers. The ten best Arizona Airbnb markets by gross yield all clear the 7.9% mark, with Bullhead City at the top (13.8%) and Surprise closing the list (7.9%).

Home values in these markets range from just over $300,000 to nearly $600,000, a spread that shapes both entry costs and payback times. The yield advantage is concentrated in smaller cities and recreation-driven destinations, not the trophy metros or famous resort towns. This is a story of affordability and outsized seasonal demand, not just name recognition.

Gross yield, the ratio of annual rental revenue to median home value, is the key metric here. It cuts through the hype, showing where a property’s income potential actually justifies the purchase price. Well-known destinations often miss the cut because their home values have outpaced rental earnings.

Instead, the list is dominated by markets where demand spikes seasonally, often around lakes, rivers, or spring training, and where home prices remain accessible. The result is a set of markets that outperform the US median yield (9.0%) and offer investors a clearer path to cash-flow.

To see which Arizona market fits your investment goals, connect with a local agent who specializes in short-term rentals.

Arizona Airbnb Market Rankings 2026 (and the City-by-City Breakdown)

Data as of July 11, 2026. Annual revenue is computed from each market’s median ADR × occupancy × 365, using trailing 12-month data. The table reports the median listing’s revenue, ADR, and occupancy, which are calculated independently and may not multiply to the revenue figure. Gross yield divides the median revenue by the median home value (Zillow ZHVI). See the full data methodology for details.

The headline revenue averages every listing, but the active-operator benchmark, filtered to listings with real, sustained booking activity, shows what a committed buyer can expect. Underwrite your deal using the active-operator figure, not the all-listings median.

1. Bullhead City: Riverfront affordability meets peak summer demand

Bullhead City claims the top spot with a 13.8% gross yield, a figure that lands in the 85th percentile of 501 US markets. The market’s strength comes from a combination of accessible home values (median $303,308, up 1.9% YoY) and a summer-driven booking calendar.

Occupancy surges to 61% in July, then drops to just 16% in February, concentrating 36% of annual revenue in the summer months. The typical listing earns $41,772 per year, with active operators capturing nearly the same at $41,008, evidence that the headline and active-operator numbers are tightly aligned here.

The seasonality is pronounced, and the payback period is short. About 7.4 years of gross active-operator revenue to recoup the median purchase price. Three-bedroom homes are the most common, but four-bedrooms bring in the highest revenue at $21,760. For investors, this is a rate-and-seasonality play, not a year-round occupancy story. For a full breakdown of revenue by property type and month, see Bullhead City’s analytics page.

Who it fits. Buyers seeking high yield and a low entry price, comfortable with pronounced seasonality.

Regulation: Short-term rental rules vary by city, county, and HOA. Verify current requirements for the specific property before buying.

2. Page: Lake Powell gateway with strong spring and fall peaks

Seasonality is a defining feature in Page, where occupancy climbs to 67% in September but drops sharply to just 10% in January, highlighting the market’s reliance on peak travel months tied to Lake Powell and the area’s outdoor attractions.

Spring leads the revenue mix at 34% of the annual total, while fall follows with 26%, underscoring the importance of shoulder seasons when tourism is strongest and weather is most favorable. Compared to the US median, Page’s 47% occupancy rate sits a notch above average, and its 11.4% gross yield ranks in the 72nd percentile out of 501 markets, making it a compelling option for yield-focused buyers.

Data shows that active-operator revenue ($42,051) remains robust, but a recent 11% year-over-year drop in occupancy signals demand softening, even as ADR holds steady. The payback period of about 9.2 years reflects moderate home values ($384,782, up 1.2% YoY) and healthy income potential for consistent operators.

The dominance of one-bedroom listings (188 active), paired with the much higher earnings of four-bedrooms ($26,665/year), suggests that investors can underwrite for a range of guest types, but larger homes may offer stronger upside. For detailed monthly analytics, visit Page’s analytics page.

Who it fits. Investors looking for a tourism-driven market with strong shoulder seasons and moderate entry prices.

Regulation: Short-term rental rules vary by city, county, and HOA. Verify current requirements for the specific property before buying.

3. Goodyear: High ADR and spring training demand

Pricing power takes center stage in Goodyear, where the median ADR reaches $281, well above the US median of $232, and occupancy rates climb to 67% in March, the peak of spring training season.

This seasonal surge helps drive a median annual revenue of $45,866, with winter alone accounting for 28% of yearly income and spring close behind at 26%. The market’s 9.8% gross yield places it in the 59th percentile nationally, outperforming the US median of 9.0% and reflecting Goodyear’s strong draw for event-driven and seasonal visitors.

Active-operator revenue stands at $44,567, supporting a payback period of about 10.5 years, an attractive marker for investors seeking steady returns in a competitive market. The most common property type is the three-bedroom, but five-bedroom homes command the highest earnings at $37,918 annually, suggesting that larger groups and families are willing to pay premium nightly rates during peak demand.

Recent data shows occupancy has softened by 12% year-over-year even as ADR jumped 31% and listings grew 19%, indicating that while demand is shifting, owners are capturing higher rates by targeting select guests and capitalizing on Goodyear’s event calendar.

Who it fits. Buyers targeting high nightly rates and event-driven demand, especially for larger homes.

Regulation: Short-term rental rules vary by city, county, and HOA. Verify current requirements for the specific property before buying.

4. Lake Havasu City: Event-driven revenue and five-bedroom upside

Pricing trends in Lake Havasu City reveal a market that thrives on seasonal surges, with March occupancy reaching 52% and average daily rates hitting $269, while December’s 19% occupancy marks the slowest month.

This pronounced seasonality is driven by the city’s signature events and prime lake access, causing both spring and summer to each generate 28% of annual revenue. The market’s 9.1% gross yield positions it squarely at the US median, but its $263 ADR stands out against the national median of $232, reflecting premium pricing during peak periods.

Active full-time listings have declined 15% year-over-year, but operators saw a 3% occupancy lift alongside a robust 17% ADR increase, signaling resilient demand and effective revenue management despite softer home values (down 1.8% YoY). The typical investor faces an 11.4-year payback period at today’s prices and revenues, a figure that underscores the importance of targeting larger properties.

While three-bedrooms dominate the inventory, five-bedroom homes deliver $59,729 annually at a $540 ADR, offering outsized returns for those able to capture group and event-driven bookings. For a full property-type and seasonality analysis, explore Lake Havasu City’s analytics page.

Who it fits. Investors seeking event-driven revenue and strong returns on larger homes.

Regulation: Lake Havasu City requires STR owners to register and obtain a vacation rental permit for each property, along with a valid Arizona TPT license. Registration must be completed before listing a property for rent.

5. Tucson: Winter occupancy and affordable entry

Winter demand shapes Tucson’s short-term rental landscape, with occupancy peaking at 75% in February and winter months capturing 31% of annual revenue. In contrast, the summer trough brings occupancy down to just 30% in June, underscoring the importance of seasonal pricing and marketing strategies.

Compared to the US field, Tucson’s 9.0% gross yield sits right at the 50th percentile, and its 47% median occupancy edges out the national median by two points, though its $158 ADR trails the US median by a wide margin.

Recent trends show a 22% year-over-year drop in occupancy but a striking 31% surge in ADR, a sign that hosts are prioritizing rate growth over filling every night and guests are booking more selectively. The payback period of 11.4 years on active-operator revenue reflects both the affordability of the median home value ($326,242, down 3.0% YoY) and the revenue potential for well-positioned listings.

The market’s heavy tilt toward one-bedroom properties (1,230 listings) means smaller units dominate, but five-bedrooms command much higher annual earnings ($54,722), providing options for investors with different strategies. See Tucson’s analytics page for more detail.

Who it fits. Buyers seeking affordable entry and strong winter occupancy, especially for smaller properties.

Regulation: Arizona state law preempts most local restrictions, but a Transaction Privilege Tax (TPT) license is required. Tucson may enforce nuisance and safety ordinances.

6. Glendale: Spring event spike and five-bedroom upside

Pricing trends in Glendale reveal a market shaped by strong event-driven demand and pronounced seasonality. Occupancy surges to 70% in March, reflecting the influx of visitors for spring sports and regional events, while June sees occupancy fall to 39% as temperatures rise and travel demand wanes. The winter and spring seasons together account for 57% of annual revenue, underscoring how Glendale’s calendar is anchored by both snowbird migration and the city’s robust event schedule.

Glendale’s 8.9% gross yield sits at the 49th percentile among 501 US markets, nearly matching the national median. The median home value of $408,515 is down 3.9% year-over-year, and investors face a payback period of about 11.6 years at current active-operator revenue levels, a figure that reflects both the area’s healthy ADR ($251, above the US median) and moderate occupancy (44%).

The most common property type is a three-bedroom, but five-bedrooms lead in earnings at $51,408 per year with a $462 ADR, making larger homes especially attractive for underwriting. Occupancy has dipped 6% year-over-year while ADR has jumped 24%, indicating that while demand has softened, operators have maintained revenue by raising prices, likely in response to reduced supply and continued event-driven spikes. For a detailed look at Glendale’s seasonality and property mix, see Glendale’s analytics page.

Who it fits. Investors targeting event-driven revenue and larger homes in a Phoenix suburb.

Regulation: Glendale requires STR owners to register with the city, obtain a TPT license, and comply with local health and safety rules.

7. Phoenix: Urban scale and high occupancy

Data from the past year shows that Phoenix’s short-term rental market thrives in the cooler months, with occupancy surging to 74% in March while dipping to just 40% in June. This pronounced seasonality, driven by winter and spring travel demand, results in those two seasons contributing 58% of annual revenue, underscoring the city’s enduring appeal for snowbirds and event-goers escaping colder climates.

With a median annual revenue of $36,084 and an average daily rate of $166, Phoenix’s pricing power remains below the US median ADR of $232, but its 53% median occupancy rate stands well above the national median of 45%.

While Phoenix’s 8.8% gross yield sits at the 48th percentile of 501 US markets, the city’s scale is evident in its 3,488 active full-time listings, offering investors a wide range of property types. The payback period for active operators is about 11.7 years, which is reasonable for an urban market with moderate home values and strong booking volumes.

Occupancy fell 6% year-over-year, but a striking 40% jump in ADR helped offset that dip, reflecting both a tightening supply (listings fell 20%) and owners’ ability to command higher nightly rates during peak demand. The dominance of one-bedroom units (1,587 listings) offers entry-level options, while large six-bedroom homes can gross nearly $76,000 annually, making Phoenix attractive for diverse investment strategies.

Who it fits. Buyers seeking scale, urban demand, and a wide range of property types.

Regulation: Phoenix requires a short-term rental permit, a TPT license, and compliance with city safety and nuisance rules. Additional requirements apply for accessory dwelling units (ADUs).

8. Gilbert: High revenue, higher home values

Revenue figures in Gilbert stand out, with a median of $48,699 annually and a robust average daily rate of $249, both surpassing the US medians. Occupancy reaches its high point in March at 73%, then falls to a seasonal low of 47% in June, reflecting the area’s strong winter and spring draw, these two seasons together generate 57% of annual revenue.

The surge in ADR by 30% year-over-year, even as occupancy dipped by 7%, suggests that operators have been able to command higher nightly rates despite some demand softening, likely due to a 16% reduction in available listings tightening supply.

Compared to the national field, Gilbert’s 8.5% gross yield places it at the 45th percentile among 501 US markets, just below the US median of 9.0%. The median home value sits at $573,048 (down 2.1% year-over-year), resulting in a lengthier payback horizon, about 12 years of gross active-operator revenue to recoup the median purchase price.

The market’s bedroom mix reveals that while three-bedroom properties are most common, five-bedrooms generate the highest annual earnings at $53,858, indicating that scaling up can improve returns for investors able to manage larger homes. For a closer look at Gilbert’s seasonality and property mix, check Gilbert’s analytics page.

Who it fits. Buyers with higher capital looking for strong revenue and stable suburban demand.

Regulation: Short-term rental rules vary by city, county, and HOA. Verify current requirements for the specific property before buying.

9. Peoria: Balanced seasonality and consistent occupancy

Revenue patterns in Peoria reflect a steady year-round appeal, with occupancy peaking at 71% in March and dropping to 44% in December. This pronounced winter and early spring draw results in 30% of annual revenue generated during winter and 26% in spring, making up over half of yearly earnings. The market’s median occupancy rate of 50% stands above the US median of 45%, while the $232 ADR matches the national median, signaling a competitive position for suburban Phoenix.

Investors will note the 12.2-year payback period based on active-operator revenue, a direct result of stable occupancy and strong pricing momentum, ADR surged 44% year-over-year even as occupancy held steady. The 375 full-time listings are dominated by three-bedroom homes, but five-bedrooms command the highest earnings at $36,862 annually with a $533 ADR, providing options for different investment strategies.

Peoria’s numbers reflect both consistent demand and the effect of rising nightly rates, supported by a market that remains attractive despite a slight dip in home values. For more detail, see Peoria’s analytics page.

Who it fits. Investors seeking a balanced, suburban market with consistent returns.

Regulation: Short-term rental rules vary by city, county, and HOA. Verify current requirements for the specific property before buying.

10. Surprise: Steady occupancy and spring bookings

Market conditions in Surprise reflect a balanced mix of steady demand and moderate pricing, with occupancy peaking at 67% in March and dropping to 41% in June. Spring and winter are the strongest seasons, each contributing 29% of annual revenue, while summer lags at just 20%. This seasonality points to a guest base that prefers the area’s mild weather and spring training attractions, making spring the prime time for bookings and revenue.

Compared to the national landscape, Surprise’s 7.9% gross yield places it at the 38th percentile among 501 US markets, just below the 9.0% US median. The payback period sits at 13 years on active-operator revenue, signaling a moderate investment horizon for buyers.

The most common listing is a three-bedroom, but the highest earnings go to five-bedrooms at $40,261 per year, suggesting that larger homes can outperform if demand supports higher nightly rates. Occupancy softened by 13% year-over-year even as ADR surged 29%, indicating that rising prices may be outpacing demand as new listings grew 10%. Investors should underwrite with the $32,459 active-operator benchmark and focus on properties that can capture peak-season demand.

Who it fits. Buyers seeking a stable, suburban market with moderate entry costs.

Regulation: Short-term rental rules vary by city, county, and HOA. Verify current requirements for the specific property before buying.

Why Arizona’s Famous Markets Miss the Ranking

Arizona’s best-known destinations, think Sedona, Scottsdale, and Flagstaff, are absent from the yield leaderboard for a simple reason. Price. These trophy markets have seen home values outpace rental revenue, pushing gross yields well below the state’s top performers. While they offer strong appreciation stories and brand recognition, their cash-flow potential lags behind smaller, less-hyped cities where entry prices are lower and demand is concentrated in peak seasons. For investors focused on income, the numbers simply don’t justify the premium.

How to Read These Rankings Before You Buy

Gross yield is a powerful filter, but it doesn’t tell the whole story. The headline figures average every listing in a market, including those with minimal or sporadic bookings. The active-operator benchmark, which filters to listings with sustained activity, is a more reliable underwriting base for buyers.

Seasonality, event-driven demand, and property type all shape the real revenue potential of a home. Regulations can also shift, so always check the latest city and HOA requirements before closing a deal. Use these rankings as a starting point, but verify at the property level to ensure your assumptions hold up.

Ready to identify the right Arizona market for your goals? Find a local STR-savvy agent to guide your next move. For personalized underwriting and deeper analytics, connect with Chalet’s experts today.