Welcome to our March 2025 short-term rental market update. This report provides insights based on an analysis of our top 100 short-term rental markets, using various metrics to highlight the biggest trends and opportunities for investors. Our methodology focuses on year-over-year changes in home values, rental yields, net revenues (net of cleaning fees), unemployment rate changes, and investor interest based on our platform data.
The short-term rental market continues to evolve in March 2025, showcasing dynamic shifts in home values, rental yields, and investor interests. Let’s dive into key insights that might help you make informed investment decisions this month.
Home Values on the Rise
This year has been favorable for many property owners, with 65.5% of markets experiencing an increase in home values year-over-year.
Among the leading markets, Cleveland stood out with a massive 10.79% increase in home value, followed closely by Detroit (9.51%) and Carlsbad (9.47%).
If you’re considering investing, these markets are seeing strong property appreciation, which might be a promising sign for future value growth.
Here are the top 10 markets for home value increase:
| Rank | Market | Year-Over-Year Change (%) |
|---|---|---|
| 1 | Cleveland | 10.79 |
| 2 | Detroit | 9.51 |
| 3 | Carlsbad | 9.47 |
| 4 | San Diego | 8.65 |
| 5 | Oceanside | 8.16 |
| 6 | Charleston | 7.97 |
| 7 | Augusta | 7.65 |
| 8 | Miami | 7.52 |
| 9 | Buffalo | 7.27 |
| 10 | South Bend | 6.85 |
Home Value Declines
While many markets saw growth, some experienced a decline in home values. Among the markets with the largest year-over-year declines, Broken Bow saw a -8.44% decrease, followed by Bradenton Beach (-8.04%) and New Orleans (-6.97%).
Here are the top 5 markets with the largest decline in home values:
| Rank | Market | Year-Over-Year Change (%) |
| 1 | Broken Bow | -8.44 |
| 2 | Bradenton Beach | -8.04 |
| 3 | New Orleans | -6.97 |
| 4 | Gatlinburg | -6.29 |
| 5 | Destin | -6.15 |
Markets with Impressive Gross Yields
Gross yields are a crucial indicator for investors aiming to maximize returns, and Detroit leads the way with a 30.88% gross yield.
This is followed by Cleveland (21.47%) and Memphis (20.23%), all offering attractive returns for rental property owners.
Whether you’re a seasoned investor or just starting out, these locations provide some of the highest potential returns in the short-term rental space.
Here are the top 10 markets for gross yields:
| Rank | Market | Gross Yield (%) |
| 1 | Detroit | 30.88 |
| 3 | Cleveland | 21.47 |
| 4 | Memphis | 20.23 |
| 5 | Baltimore | 19.89 |
| 6 | St. Louis | 19.50 |
| 7 | Cincinnati | 18.75 |
| 8 | Pittsburgh | 18.42 |
| 9 | Buffalo | 17.90 |
| 10 | Milwaukee | 17.56 |
