Homeowners interested in earning extra income may consider turning their properties into short-term rentals. Vacation rental website Airbnb has grown to become a billion-dollar global company, helping homeowners arrange such rental accommodations at their properties. Where are homeowners cashing in the most on Airbnb’s growing popularity? These 10 cities rank at the top for Airbnb profits, according to IPX 1031, a firm that focuses on 1031 tax-deferred exchanges. The firm came up with its list by culling data from AirDNA, a short-term rental analytics database.
1. Moreno Valley, Calif.
- Annual profit: $33,720
- Average daily Airbnb rate: $226
2. Virginia Beach, Va.
- Annual profit: $32,208
- Average daily Airbnb rate: $275
3. Pasadena, Texas
- Annual profit: $29,988
- Average daily Airbnb rate: $180
4. Garden Grove, Calif.
- Annual profit: $29,772
- Average daily Airbnb rate: $266
5. Fremont, Calif.
- Annual profit: $26,700
- Average daily Airbnb rate: $204
6. Grand Prairie, Texas
- Annual profit: $24,432
- Average daily Airbnb rate: $172
7. Columbus, Ga.
- Annual profit: $23,820
- Average daily Airbnb rate: $114
8. Oxnard, Calif.
- Annual profit: $23,256
- Average daily Airbnb rate: $404
9. Orlando, Fla.
- Annual profit: $22,020
- Average daily Airbnb rate: $179
10. Shreveport, La.
- Annual profit: $19,992
- Average daily Airbnb rate: $109
Source: “Best Cities to Buy Airbnb Investment Property,” IPX1031.com (Jan. 29, 2019)
