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11 Spots in to Buy American Vacation Investment Properties in 2024

11 Spots in to Buy American Vacation Investment Properties in 2024

Are you considering dipping your toes in the world of vacation property investment in 2024? Among the many attractive vacation properties available in the United States are those that combine natural beauty, tourist appeal, and a potential return on investment. As the real estate market develops, the top 11 places in the USA to invest in vacation properties are listed below.

Economic conditions, travel trends, and local real estate markets all play a role in predicting the future of any investment market, including vacation rentals. 

The vacation rental sector has transformed into a thriving industry, propelled by technological advancements and consumer behavior shifts. Investors are keenly observing this market, with 2024 projections indicating sustained growth and no indications of deceleration, making vacation rentals an attractive and lucrative opportunity this year. 

Are Vacation Rentals a Good Investment in 2024?

Investments in vacation rentals in 2024 present both opportunities and considerations. The landscape for these investments will be primarily determined by factors such as economic stability and shifting consumer preferences. 

Vacation rentals can be a lucrative income stream as travel demand increases, resulting in a lucrative income stream. 

A thorough market research, a thorough assessment of the regulatory environment, and a thorough understanding of the particular dynamics of the chosen location are all essential. In 2024, vacation rental investments will also be shaped by emerging travel trends, the impact of new technologies, and evolving remote work arrangements

The key to success in investment is to be well-informed and adaptable to changing market conditions.

Short-Term Rental Predictions for 2024 

According to data from AirDNA focusing on 2024 projections, the demand for Airbnb and VRBO accommodations is anticipated to continue its upward trajectory. Enthusiasm for travel has exceeded expectations, leading to a robust 8.5% year-over-year growth forecast in demand for 2024. Although supply growth was slowed in 2022 due to rising mortgage rates and declining occupancy, AirDNA forecasts a substantial 14% year-over-year increase in supply (listed nights) in 2023. 

The occupancy rate, projected at 57.6% in 2023, is expected to experience a slight decline in 2024 but will remain higher than pre-pandemic levels. Economic uncertainties and persistent inflation have prompted consumers to seek value, resulting in a 2.1% year-over-year increase in Average Daily Rates (ADRs) in 2023 and an estimated 1.7% increase in 2024. Despite a forecasted -1.1% decline in Revenue Per Available Rental (RevPAR) in 2023, stability is expected in 2024, with the modest decline in occupancy offset by ADR gains.

The Top 11 Cities in the USA for Vacation Rentals 

  1. Orlando, Florida

Known for its magic and adventure, Orlando, Florida, is a prime destination for short-term rentals. Orlando attracts millions of tourists annually due to its world-class theme parks, including Walt Disney World Resort and Universal Studios. Its vibrant cultural scene, diverse dining options, and favorable climate make it even more appealing. When compared to traditional accommodations, short-term rental properties, including cozy apartments and spacious vacation homes, offer a more personalized and immersive vacation experience. The steady influx of tourists and events and conferences held in the area create a robust demand for short-term rentals.

With its year-round appeal and family-friendly attractions, Orlando offers an enticing short-term rental proposition for investors.Beyond its renowned theme parks, Orlando offers delightful weather, flourishing arts as well as a vibrant culture, fueled by a robust tourism industry and its perennial appeal, considering investment in vacation rentals in Orlando proves to be a strategic and intelligent decision.

According to AirDNA - Orlando Florida Statistics are as follows : 

Annual Revenue : $50.6K

Occupancy Rate : 64% 

Average Daily Rate : $216.7

RevPAR : $145.8

According to Redfin, Homes for sale in Orlando have a median listing price of $494K. Some of these homes are Hot Homes, meaning they're likely to sell quickly.

Popular neighborhoods include and Gulf Pines of Gulf Shores.

With its stunning landscape of pristine beaches and abundant wildlife, Gulf Shores, Alabama offers a unique coastal living experience. With mild winters and warm summers, the region is ideal for outdoor activities year-round.

Guests can enjoy various recreational activities, including water sports, fishing, and exploring the nearby nature reserves. Numerous cultural events and festivals also showcase the region's heritage and culture.

2. Alaska, Fairbanks

Nestled in the heart of Alaska, Fairbanks presents a unique opportunity for short-term rentals against the backdrop of pristine wilderness and northern charm. Known for its stunning natural phenomena, including the mesmerizing Northern Lights, Fairbanks attracts visitors seeking an authentic Alaskan experience. 

Short-term rental properties in this city range from cozy cabins to modern homes, providing a comfortable base for adventurers exploring the surrounding landscapes. With its distinctive climate and year-round outdoor activities, Fairbanks caters to tourists seeking a genuine taste of the Last Frontier. 

Whether it's dog sledding in the winter or enjoying the Midnight Sun in the summer, the city's diverse attractions make short-term rentals an attractive option for those wanting to immerse themselves in the unique allure of Fairbanks, Alaska.

According to AirDNA - Fairbanks, Alaska Statistics are as follows : 

Annual Revenue : $45.1K

Occupancy Rate : 63% 

Average Daily Rate : $196.6 

RevPAR : $ 125.4 

According to Redfin, the median listing price for homes in Fairbanks is $265K. Some of these homes are Hot, meaning they will likely sell quickly.

Popular neighborhoods include Hamilton Acres, Chinatown, Downtown Fairbanks, Chena Hot Springs Hills, and Gateway.

Fairbanks, Alaska, is an exceptional place to live because of its stunning natural surroundings. The landscape, including mountains, forests, and rivers, offers outdoor exploration opportunities. The area's winters are cold, and the summers are quite hot. 

Guests can enjoy various activities, including hiking, fishing, skiing, and the vibrant arts and cultural scene.

3. Waldport, Oregon 

Nestled along the picturesque Oregon Coast, Waldport offers a tranquil retreat for those seeking a respite by the sea. With its pristine beaches, charming coastal town atmosphere, and proximity to natural wonders like the Alsea Bay, Waldport has become an appealing destination for travelers. 

Short-term rentals in Waldport range from quaint cottages with ocean views to modern beachfront homes, providing visitors with a comfortable and immersive coastal experience. 

Whether exploring tide pools, enjoying water activities, or simply relishing the stunning sunsets over the Pacific Ocean, Waldport's allure is complemented by the convenience and charm of its short-term rental accommodations, making it an ideal destination for those seeking a coastal escape in the heart of Oregon.

According to AirDNA -  Waldport, Oregon, Statistics are as follows : 

Annual Revenue : $72.6K

Occupancy Rate : 64% 

Average Daily Rate : $311.7

RevPAR : $ 204.8

According to Redfin, Waldport's Homes for sale have a median listing price of $435K. Some of these homes are Hot, meaning they will likely sell quickly.

Waldport, Oregon, offers many things to do, including stunning coastal views, lush forests, and serene rivers. The moderate climate, with mild summers and cool winters, ensures a comfortable climate year-round. 

Recreational activities include hiking, fishing, and exploring the beautiful natural environment.

4. Sevierville, TN

A charming combination of natural beauty and Southern hospitality makes Sevierville, Tennessee, a charming short-term rental destination in the Great Smoky Mountains. Visitors can explore the national park's hiking trails, scenic drives, and diverse wildlife surrounded by the stunning landscapes of the Smokies. 

Among the short-term rental options in Sevierville are cozy cabins surrounded by mountains and spacious lodges with modern amenities that make a comfortable base for exploring. With nearby attractions such as Pigeon Forge and Gatlinburg offering entertainment, dining, and family-friendly attractions, Sevierville's short-term rentals offer convenient and welcoming retreats for those seeking a memorable Tennessee mountain getaway.

According to AirDNA - , Sevierville, TN Statistics are as follows : 

Annual Revenue : $ 87.6K

Occupancy Rate : 67% 

Average Daily Rate : $357

RevPAR : $ 240.8

According to Redfin, Homes for sale in Sevierville have a median listing price of $600K. Some of these homes are Hot Homes, meaning they will likely sell quickly.

The rolling hills and scenic surroundings of Sevierville, Tennessee make it a serene place where the region boasts a diverse landscape, encompassing rolling hills, lush forests, and serene rivers. The weather in Sevierville varies throughout the year, with mild winters and warm summers. 

Guests can enjoy hiking, fishing, exploring the outdoors, and unwind and relax while enjoying the area's beauty through various recreational activities.

5. Holland, Michigan 

A picturesque destination along Lake Michigan, Holland, Michigan is known for its Dutch heritage, tulip fields, and charming waterfront. From quaint cottages overlooking Lake Macatawa to stylish downtown apartments, short-term rentals in Holland offer a unique experience for visitors. 

During the annual Tulip Time Festival, guests can stroll through tulip-lined streets, explore the city's vibrant cultural scene, and see the iconic "Big Red" lighthouse. Short-term rentals in Holland provide an ideal setting for those seeking a blend of relaxation and exploration on the shores of Lake Michigan due to its scenic beauty, friendly community atmosphere, and various seasonal events.

According to AirDNA - , Holland, Michigan Statistics are as follows : 

Annual Revenue : $ 97.8K

Occupancy Rate : 64% 

Average Daily Rate : $420.1

RevPAR : $ 280.3

According to Redfin, Homes for sale in Holland have a median listing price of $339K. Some of these homes are Hot Homes, meaning they will likely sell quickly.

Popular neighborhoods include Historic District, Rosa Parks Green, Midtown, Maplewood, Westside, South End, Downtown Holland, Central Downtown, and Hope.

With its beautiful landscape encompassing lakes, parks, and lush greenery, Holland, Michigan offers a serene and picturesque environment. The region experiences a variety of weather patterns throughout the year, from warm summers to snowy winters. 

Various activities are available to guests, including hiking trails, water sports on the lakes, sports leagues, and cultural events.

6. Palo Pinto, Texas 

Located in the heart of North Texas, Palo Pinto County offers a tranquil retreat for those seeking a retreat in the Lone Star State. It boasts rolling hills, scenic lakes, and a peaceful atmosphere. The picturesque location has a variety of short-term rentals, from cozy cabins with rustic charm to spacious homes overlooking the countryside. 

Among the attractions close to the lake are Possum Kingdom Lake, known for its water recreation, as well as Palo Pinto Mountains State Park, which offers hiking and birdwatching opportunities. The short-term rentals offer a comfortable and immersive experience, offering a peaceful respite while still being close to outdoor activities and the quaint charm of Palo Pinto, making it an ideal destination for anyone seeking a Texan getaway off the beaten path.

According to AirDNA - , Palo Pinto, Texas Statistics are as follows : 

Annual Revenue : $ 79K

Occupancy Rate : 47% 

Average Daily Rate : $463.9

RevPAR : $ 208.2

According to Redfin, Homes for sale in Palo Pinto have a median listing price of $624K. Some of these homes are Hot Homes, meaning they're likely to sell quickly.

7. Wisconsin Dells, Wisconsin 

In addition to its natural beauty and family-friendly attractions, the Dells stand out as a vibrant destination nestled in the scenic landscapes of Wisconsin. Wisconsin Dells offers a wide range of short-term rentals, from cozy cabins near the Wisconsin River to spacious vacation homes with modern amenities. In addition to waterparks such as Noah's Ark and Mt. Olympus, the Dells are popular with adventure seekers.

 In addition to exploring the stunning rock formations along the Wisconsin River and participating in water activities, short-term rentals in the area offer a convenient base for dining and entertainment in downtown Dells. Short-term rentals in Wisconsin Dells offer outdoor adventure and recreation opportunities that make a memorable Wisconsin getaway convenient and enjoyable.

According to AirDNA - , Wisconsin Dells Statistics are as follows : 

Annual Revenue : $ 73.6K

Occupancy Rate : 59% 

Average Daily Rate : $339.7

RevPAR : $ 207.7

According to Redfin, Homes for sale in Wisconsin Dells have a median listing price of $220K. Some of these homes are Hot Homes, meaning they will likely sell quickly.

The picturesque landscape of Wisconsin Dells, Wisconsin makes it a unique place to visit. Wisconsin Dells has a variety of natural attractions, including lush forests, rolling hills, and peaceful lakes. There are distinct seasons in Wisconsin Dells, with a warm summer and a cold winter. 

Outdoor sports, hiking, bike riding, boating, and exploring local parks are available to guests.

8. Dover, VT

The charming town of Dover is nestled in the picturesque Green Mountains of Vermont, offering a mixture of outdoor adventures and small-town charm. Those seeking a cozy retreat within the region's scenic beauty can find short-term rentals in Dover. There is something for everyone here, from traditional New England cottages to contemporary mountain lodges. 

Mount Snow, a popular ski resort in Dover, attracts winter enthusiasts. In the warmer months, hiking, mountain biking, and quiet walks near lakes and streams are available. For those looking to escape to the heart of Vermont, Dover's short-term rentals provide the perfect blend of relaxation and adventure with its proximity to natural attractions and recreational activities.

According to AirDNA - , Dover, VT Statistics are as follows : 

Annual Revenue : $ 99K

Occupancy Rate : 50%

Average Daily Rate : $ 538.2

RevPAR : $282.7

According to Redfin, Homes for sale in Dover have a median listing price of $487K. Some of these homes are Hot Homes, meaning they will likely sell quickly.

9.Hocking Hills, Ohio 

In the heart of Ohio, Hocking Hills is renowned for its stunning natural beauty and outdoor adventures. Visitors to the Hocking Hills can take advantage of short-term rentals to experience the tranquility of this picturesque region. With cabins nestled in the woods and charming cottages with scenic views, these accommodations offer a comfortable getaway.

An excellent place for adventure seekers and nature lovers, Hocking Hills is home to iconic rock formations, cascading waterfalls, and lush hiking trails. In addition to providing a cozy haven, Hocking Hills' short-term rentals are a great place to explore the region's enchanting landscape, making it a popular destination in Ohio.

According to AirDNA - ,Hocking Hills Statistics are as follows : 

Annual Revenue : $75.9

Occupancy Rate : 68%

Average Daily Rate : $ 307.8

RevPAR : $ 212

According to Redfin, the median sale price of a home in Hocking County is $334K , down 5.8% since last year. The median sale price per square foot in Hocking County is $206, down 3.5% since last year.

10. Savannah, Georgia 

A captivating destination with a rich blend of Southern hospitality and architectural splendor, Savannah stands out among Georgia's cobblestone streets and historic squares. Visitors to Savannah can experience a unique experience in a short-term rental, from elegant historic homes adorned with Spanish moss to cozy apartments in the city's vibrant districts. 

As a result of these accommodations, guests can visit the city's antebellum architecture Forsyth Park's iconic fountain, or savor the renowned Southern cuisine of the Historic District. Savannah's short-term rentals provide an ideal setting for those seeking a blend of relaxation and exploration in the heart of the Deep South, with its historic charm, cultural attractions, and a myriad of festivals and events.

According to AirDNA - , Savannah, Georgia Statistics are as follows : 

Annual Revenue : $76.6K

Occupancy Rate :64 %

Average Daily Rate : $327.2 

RevPAR : $212.7 

According to Redfin, Homes for sale in Savannah have a median listing price of $370K. Some of these homes are Hot Homes, meaning they're likely to sell quickly.

Popular neighborhoods include Savannah Highlands, Downtown Savannah, Ardsley Park-Chatham Cresent, South Historic District, The Landings, North Historic District, Windsor Forest, Southbridge, Thomas Square, and West Savannah.

Several types of single-family homes are available in Savannah, Georgia, including ranch-style, craftsman-style, and modern-style homes, each with unique architectural design and features. 

In addition to historic neighborhoods like Ardsley Park and Baldwin Park, newer developments like Southbridge and Berwick Plantation include these homes. Savannah, Georgia offers a variety of housing options for different preferences and budgets, ranging from condominiums to single-family homes. 

11.Vernon Township, NJ 

A tranquil getaway awaits those seeking a serene getaway in Vernon Township, nestled in the scenic landscapes of New Jersey. Various short-term rentals are available in Vernon Township, from cozy cottages with woodland views to spacious vacation homes near picturesque lakes. 

Several adventure seekers and peaceful retreaters enjoy the area because of its proximity to Mountain Creek Resort, renowned for skiing in the winter and outdoor activities during the warmer months. With short-term rentals in Vernon Township, you can explore the nearby Appalachian Trail, enjoy water sports on Lake Wallkill, and visit local wineries from a comfortable base. 

In the heart of New Jersey's natural beauty, Vernon Township's short-term rentals offer an inviting accommodation option for those seeking outdoor adventures or a relaxing getaway.

According to AirDNA - , Vernon Township Statistics are as follows : 

Annual Revenue : $46.7K

Occupancy Rate : 45%

Average Daily Rate : $283.6 

RevPAR : $135.9

According to Redfin, Homes for sale in Vernon Township have a median listing price of $310K. Some of these homes are Hot Homes, meaning they will likely sell quickly.

How can Hostaway Help?

In 2024, the top 11 vacation property spots in the United States offer investors a variety of investment opportunities. Each location offers its own charm and the potential for lucrative short-term rentals. 

Your property management must be streamlined as you embark on this exciting adventure in vacation property investment. Hostaway, the leading vacation rental management platform, can help optimize your operations. 

By simplifying the complexities of managing vacation rentals, Hostaway lets you concentrate on maximizing your investment with features such as automated guest communication, channel management, and performance analytics. Take advantage of technology through  Hostaway for optimal success in your vacation rental venture 2024 as you explore these enticing

Ready to find out how Hostaway can transform your business?

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