Introduction
Frisco, Texas, is a thriving city known for its economic growth and vibrant community. Located in the heart of the Dallas-Fort Worth metroplex, Frisco has attracted visitors and investors alike. One of the key elements driving its popularity is the burgeoning short-term rental market, with Airbnb rentals taking center stage. In this blog post, we’ll delve into the world of short-term rentals in Frisco, exploring key statistics, trends, and essential information for both visitors and potential investors.
The Real Estate Landscape in Frisco, TX
Home Appreciation and Value
According to data from Zillow, homes in Frisco, TX, have experienced a modest depreciation rate of 3.70%. Despite this, the median home value stands at an impressive $674,493. This suggests that Frisco remains an attractive location for real estate investments.
Short-Term Rentals in Frisco, TX
Market Size and Performance
Chalet, a leading platform for short-term rental analytics, reports that there are currently 391 active short-term rentals in Frisco, TX. These properties have an average daily rate of $227.50 and maintain an occupancy rate of 52%. The annual revenue generated by these rentals amounts to a substantial $34,900.
Investment Potential
For prospective investors, the average gross yield for short-term rentals in Frisco stands at an attractive 5.17%. Additionally, the average property tax rate is 1.77%, making it a financially appealing option.
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Local Insights
Median Household Income
The median household income in Frisco, TX, is a vital factor for potential investors. As of the latest data available, the median household income is $146,027, indicating a strong and financially stable community.
Climate
Frisco enjoys a diverse climate with hot summers and mild winters. Summers are typically hot and humid, while winters are relatively mild with occasional cold spells. This climate makes it a year-round destination for visitors.
Population Size
With a growing population, Frisco has become one of the fastest-growing cities in the United States. As of the latest data, the population size is estimated to be over 200,000 residents.
Sports and Education
Frisco is a hub for sports enthusiasts, hosting several professional sports teams and colleges. Notable teams include FC Dallas, the Frisco RoughRiders, and the Dallas Cowboys, who have their world-class practice facility in Frisco. Additionally, colleges like Collin College and the University of North Texas have campuses in the city.
Crime Rate
Frisco is known for its safety, boasting a low crime rate compared to national averages. The city’s commitment to security is a significant draw for both residents and tourists.
Tourism in Frisco, TX
Visitor Demographics
Frisco attracts visitors from various regions, with a significant number coming from neighboring cities and states. Proximity to Dallas and easy accessibility via major highways make it a desirable destination.
Total Number of Visitors
While specific visitor data may vary year to year, Frisco consistently welcomes a substantial number of tourists, thanks to its attractions and events.
Tourist Attractions
Frisco offers a wide range of tourist attractions, including the National Videogame Museum, Frisco Commons Park, and the Stonebriar Centre shopping mall. Sports events, festivals, and cultural experiences also contribute to its appeal.
Peak Season
The peak tourist season in Frisco typically coincides with the summer months when the climate is favorable for outdoor activities and events are in full swing. However, the city’s year-round attractions ensure a steady influx of visitors throughout the year.
Conclusion
Frisco, TX, is not only a thriving community but also a remarkable destination for short-term rentals. With a strong real estate market, growing population, and a wide range of attractions, it presents an exciting opportunity for investors and a delightful experience for travelers. Whether you’re considering a vacation or an investment in short-term rentals, Frisco has much to offer in the heart of Texas.
