Introduction
Catskill, NY, nestled in the picturesque Hudson Valley, has become a hotspot for short-term rentals, particularly through platforms like Airbnb. With its scenic beauty, cultural attractions, and outdoor recreational opportunities, it’s no wonder that travelers are flocking to this charming town. In this blog post, we’ll delve into the dynamics of the short-term rental market in Catskill, examining key metrics and trends that shape the industry.
Exploring the Short-term Rental Market in Catskill, NY
Introduction
Catskill, NY, nestled in the picturesque Hudson Valley, has become a hotspot for short-term rentals, particularly through platforms like Airbnb. With its scenic beauty, cultural attractions, and outdoor recreational opportunities, it’s no wonder that travelers are flocking to this charming town. In this blog post, we’ll delve into the dynamics of the short-term rental market in Catskill, examining key metrics and trends that shape the industry.
Understanding the Market
Market Trends and Data Points
According to recent data from Zillow, homes in Catskill have depreciated by 5.10%, with the median home value standing at $327,997. These figures provide insight into the local real estate landscape, indicating potential opportunities for short-term rental investors.
Chalet’s analytics reveal that there are currently 178 active short-term rentals in Catskill, with an average daily rate of $360.90 and an occupancy rate of 44%. This translates to an annual revenue of $51,900, with an average gross yield of 15.82%. Additionally, SmartAsset reports that the average property tax in Catskill is 2.27%, a factor that investors must consider when assessing the financial feasibility of short-term rental properties.
