Introduction
Venice, Florida, with its picturesque beaches and charming small-town atmosphere, has become a sought-after destination for tourists and travelers. As a result, the short-term rental market, which includes popular platforms like Airbnb, has experienced significant growth in recent years. In this blog post, we will delve into the details of the short-term rental market in Venice, FL, exploring key statistics and trends that are essential for both hosts and travelers. Whether you’re considering investing in a vacation property or planning your next getaway, this guide has you covered.
The Real Estate Landscape
Home Value Trends
According to Zillow, the median home value in Venice, FL, stands at $447,568. However, it’s worth noting that homes in the area have experienced a slight depreciation of -2.40%. This data provides insights into the real estate market’s health and affordability, which can impact the short-term rental market.
Short-Term Rental Statistics
Venice, FL boasts a robust short-term rental market, with approximately 765 active properties listed on platforms like Airbnb, as reported by Chalet. The average daily rate for these rentals is $210.30, making it an attractive option for both hosts and visitors. The occupancy rate, a crucial metric for hosts, is currently at 58%, indicating healthy demand.
Revenue Potential
Hosts in Venice, FL have the potential to earn an annual revenue of $34,300 from their short-term rentals, based on data from Chalet. This substantial earning potential is one of the primary drivers for individuals looking to invest in vacation properties in the area.
Investment Viability
For potential investors, the average gross yield for short-term rentals in Venice, FL is an attractive 7.66%. This figure highlights the profitability of short-term rental properties in the area, especially when compared to long-term leasing options.
Property Tax Considerations
It’s important to factor in property taxes when investing in short-term rentals. In Venice, FL, the average property tax rate is 0.82%, according to SmartAsset. Understanding this cost is crucial for accurate financial planning.
