Introduction
The short-term rental market in Logan, OH, has been gaining significant attention in recent years. With the rise of platforms like Airbnb, vacationers are opting for unique and comfortable accommodations, and Logan, nestled in the Hocking Hills region of Ohio, is no exception. In this blog post, we will delve into the key aspects of the Airbnb and short-term rental market in Logan, OH, and explore the factors contributing to its growth.
Market Overview
Real Estate Trends
According to data from Zillow, homes in Logan have seen an 10.50% depreciation in their value, making it an attractive option for potential investors. The median home value currently stands at $225,864, which makes it an affordable market for property buyers.
Short-term Rental Landscape
Chalet reports that there are currently 861 active short-term rentals in Logan, OH. These properties have an average daily rate of $349.20, and the occupancy rate hovers around 55%. As a result, the annual revenue generated by short-term rentals in Logan amounts to an impressive $65,900.
Investment Potential
With an average gross yield of 29.18%, investors are eyeing Logan as a promising market for short-term rentals. Additionally, the average property tax rate is reasonable at 1.43%, making it a financially viable option for property owners.
