Take me to Tennessee
Forget beach towns and ski lodges. Real estate investors looking to cash in on the vacation rental game should apparently look to Tennessee. According to a new ranking, that’s where that nation’s best spot to buy a vacation home is.Verify your new rate (Sep 16th, 2019)
The top city for vacation home rentals
According to a new ranking from vacation rental marketplace Vacasa, the best place to buy a vacation home is in Sevierville, Tennessee — a small town with a population of just 14,000.
Vacasa’s data shows the average Sevierville vacation home owner brings in nearly $25,000 per year on their property. The average nightly rate is $274, and the city sees more than 30,000 guests every year.
Sevierville’s high potential is likely due to its close proximity to the Smoky Mountains.
As Vacasa’s report explains, “Our number one best place to buy a vacation rental is Sevierville, Tennessee, nestled among the Smoky Mountains—and it’s not the only city in the region to make the list. Whittier, North Carolina, rang in at No. 4 on the list of best places to buy, shining some extra light on the popular vacation rental destination that offers guests incredible experiences in Great Smoky Mountains National Park.”
The runners up
Killington, Vermont, came in second with an average income of $19,365. Though the city only sees a mere 9,000 quests annually, its average nightly rate of $432 helps vacation home owners rake in the profits.
Other cities high on Vacasa’s list were Davenport, Key West and Kissimmee, Florida; Dauphin Island, Alabama; Myrtle Beach, South Carolina; and Fort Bragg, California.
Though the average vacation home owner in Key West brings in more than $46,000 per year on their property, housing prices keep the city from ranking higher. The median sale price in the area is $763,000.Verify your new rate (Sep 16th, 2019)
Get today’s mortgage rates
Want to invest in a vacation home rental in one of these high-potential cities? Then shop around and see what mortgage rates you qualify for today.