Introduction
San Luis Obispo, nestled on the stunning Central Coast of California, is not only a picturesque destination but also a burgeoning hub for short-term rentals. Whether you’re a homeowner considering dipping your toes into the Airbnb market or a traveler seeking the perfect accommodation, understanding the dynamics of this vibrant rental landscape is crucial. In this guide, we delve into the ins and outs of the short-term rental market in San Luis Obispo, providing valuable insights and data-backed analysis to help you make informed decisions.
Property Values and Depreciation Trends
According to Zillow, the median home value in San Luis Obispo stands at an impressive $1,035,795. However, it’s essential to note that homes in the area experienced a 6.20% appreciation, indicating a potentially shifting market landscape.
Short-term Rental Metrics
Chalet reports a total of 367 active short-term rentals in San Luis Obispo. These properties boast an average daily rate of $406.50, with an occupancy rate of 57%. This translates to an annual revenue of $70,300, with an average gross yield of 6.79%.
Tax Considerations
Property taxes play a significant role in the financial equation for short-term rental hosts. In San Luis Obispo, the average property tax rate is 0.82%, a factor that hosts must account for when calculating their overall profitability.
