Last updated on October 2nd, 2023
Discover the best Airbnb locations in Arizona for real estate investors in 2023! This article features profitable Airbnb cities near Phoenix
Home > Resources > Airbnb Investment >
Where are the Best Airbnb Locations in Arizona? Phoenix Investment Properties in 2023
Where are the Best Airbnb Locations in Arizona? Phoenix Investment Properties in 2023
Discover the best Airbnb locations in Arizona for real estate investors in 2023! This article features profitable Airbnb cities near Phoenix
- Last updated on
- October 2, 2023
Key Takeaways
- Phoenix offers several attractive property investments. Due to its booming economy and double-digit rent growth, this city is considered one of the best cities for investment in 2023.
- Find out what real estate investors can expect when starting an Airbnb investment in nearby cities within the Phoenix area. Each city’s potential profitability for Airbnb will be revealed, along with its annual revenue and gross rental yield.
- Discover the best 10 profitable areas for Airbnb nearby Phoenix and the most recommended property size for starting an Airbnb investment.
Introduction
Arizona has a vibrant economy and the affordability of properties attracts real estate investors across the state. Its tourism industry is also well-balanced. In fact, Airbnb noted that the demand for accommodation has increased in the greater Phoenix area because of the upcoming Big Game.
And while there are several best places to Airbnb in Arizona, Phoenix is surely on top of the list!
If you’re looking for the best areas for Airbnb locations in Arizona – we have it all featured here.
At the end of this article, you’ll also learn about the profitability of nearby cities in Phoenix and discover the best real estate investment properties. Continue reading to learn more.
Is Airbnb Profitable in Phoenix?
Using the discovery tool, Airbtics discovered that Airbnb is certainly profitable in Phoenix. Airbtics’ data shows that an Airbnb host can expect annual revenue of $41,085 for operating a 2-bedroom property in Phoenix. You can also anticipate a good occupancy rate of 65%.
Why invest in an Airbnb in Phoenix?
Phoenix has arguably portrayed interesting landscapes. From deserts, zoos, gardens, and other natural attractions — it’s surely a hit with all kinds of tourists. Airbnb rules in Phoenix are also not too strict, which is an advantage. But apart from this, here are the primary reasons why you should consider Phoenix investment properties:
1. Booming economy & fastest-growing population in the USA
Despite the reported water shortage issues, Phoenix is known for its booming economy and growing population. This city also offers high-quality education and more businesses are thriving. Investing in a promising city such as Phoenix will give any investor the opportunity to make the most money that they can.
2. History of Increasing Values
Home Qwik declares that Phoenix has a proven history of increasing values. Particularly for single-family homes, the affordability of properties makes it easier for investors to start with. Norada Real Estate also projected that property values grew by 9.5% over the last 12 months, as per Zillow’s home value index.
3. Low Vacancy Rates
If you are looking for a more consistent cash flow for your rental, Phoenix is the best city to start with. Its low vacancy rates are connected to higher rent prices and lower tenant turnover. This also means that tenants are more likely to stay longer and renew their contract – less paperwork and a constant flow of money! Thus, targeting the best neighborhoods in Phoenix can greatly secure a steady passive income.
Source: Airbtics Dashboard
Top 10 Best Areas to Airbnb nearby Phoenix, AZ
Check out the best areas for Airbnb investment in areas and annual income property near Phoenix, AZ:
1. Scottsdale
A TPT (Transaction Privilege Sales Tax) license and Scottsdale license is required for every property that you intend for short-term rentals. Scottsdale is 71 miles from Phoenix (21 mins drive).
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): $297,370
- Airbnb Annual revenue: $41,960
- Gross rental yield: 14.11%
2. Gilbert
To date, Airbnb hosts in Gilbert are not required to obtain a business license. However, they are looking to charge a licensing fee. This proposed regulation is not applicable yet. Similar to Scottsdale, Gilbert is about 21 miles (28 minutes drive) from Phoenix
- Best bedroom size: 3 bedrooms
- Median property price (3-bedroom): $487,349
- Airbnb Annual revenue: $66,391
- Gross rental yield: 13.62%
3. Mesa
Short-term rental owners in Mesa are required to get a license and obtain minimum liability insurance. This city is about 23 minutes drive from Phoenix (21 miles).
- Best bedroom size: 3 bedrooms
- Median property price (3-bedroom): $404,007
- Airbnb Annual revenue: $61,386
- Gross rental yield: 15.19%
4. Tempe
Currently, there are no short-term regulations in Tempe. But it’s also good to note that starting on March 6th, 2023, all short-term rental owners are required to get a business license. Tempe is located 71 miles from Phoenix (1 hour & 41 minutes drive).
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): $258,653
- Airbnb Annual revenue: $43,990
- Gross rental yield: 17.01%
5. Sedona
Similar to Scottsdale, all Airbnb hosts are required to get a TPT (Transaction Privilege Sales Tax) license from the State of Arizona. It is also situated 99 miles from Phoenix (1 hour & 56 mins drive).
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): $411,132
- – Airbnb Annual revenue: $59,134
- Gross rental yield: 14.38%
6. Tucson
Since Tucson has not implemented its local short-term rental regulations, hosts will have to comply with Arizona’s STR laws. Tucson is about 106 miles from Phoenix (1 hour & 43 mins drive).
- Best bedroom size: 3 bedrooms
- Median property price (3-bedroom): $314,860
- Airbnb Annual revenue: $49,440
- Gross rental yield: 15.7%
7. Flagstaff
Flagstaff currently does not have any specific short-term rental regulations. This city is located about 146 miles from Phoenix (2 hour & 15 mins drive).
- Best bedroom size: 2 bedrooms
- Median property price (2-bedroom): $413,163
- Airbnb Annual revenue: $57,767
- Gross rental yield: 13.98%
8. Bullhead City
Registration & licensing is the usual process for most Airbnb hosts in Bullhead City. It’s also about 183 miles from Phoenix (3 hours & 51 mins drive).
- Best bedroom size: 3 bedrooms
- Median property price (3-bedroom): $325,491
- Airbnb Annual revenue: $51,650
- Gross rental yield: 15.87%
9. Henderson
To operate a short-term rental in Henderson, you will need to register your listing with the local city hall. Henderson is also about 244 miles from Phoenix (4 hours & 48 mins drive).
- Best bedroom size: 4 bedrooms
- Median property price (4-bedroom): $573,128
- Airbnb Annual revenue: $95,308
- Gross rental yield: 16.63%
10. Lake Havasu
According to Lake Havasu’s government website, all hosts are required to register their short-term rentals online. Lake Havasu is about 147 miles from Phoenix (3 hours & 15 mins drive).
- Best bedroom size: 2 bedrooms
- Median property price (2-bedroom): $372,579
- Airbnb Annual revenue: $46,625
- Gross rental yield: 12.51%
Summary
Now that you have an overview of the best Airbnb locations in Arizona, don’t make the final decision just yet. It’s certain that more investment properties in Phoenix can be discovered – all in one click!
It’s a fact that despite the affordability of properties in Phoenix, some property investors may still find the price to be overwhelming. The good news is that you have the option to do rental arbitrage in Phoenix. Arizona investment properties can generate a good cash flow and achieve financial stability!
Real estate investors in Phoenix know that not all property investments can bring excellent profitability. So before taking the next step, try using an Airbnb income calculator. This will help you set your expectations, take note of the recurring & upfront expenses, and determine your profitability.
Deeper STR Insights. Broader Investment Opportunities.
Want to go deeper, broader, and faster? Supercharge your Airbnb Investment by accessing the most in-depth Airbnb & real estate insights with our exclusive STR report.
- Vital vacation rental data from 50 Markets – Airbnb Occupancy Rate, ADR, Revenue, and Listings! Access 2-year data from June 2021 to June 2023.
- Uncover 5-year real estate investability metrics for 50 markets including population, property prices, income levels, Google travel interest, crime, and unemployment trends 2017 - 2021)!
- All yours in 3 business days!
Short-Term Rental Data
Short-Term Rental Data
-
Quick Links
Keep Reading
Annual Airbnb Revenue in Fitzgerald georgia, USA
Last updated on April 18th, 2024 Fitzgerald, Georgia| Airbnb Market Data & Overview | USA Fitzgerald, Georgia Airbnb Market Data & Overview USA Is it …
Bordeaux Airbnb Rules
Last updated on June 23rd, 2023Table of Contents Add a header to begin generating the table of contents Is Airbnb legal in Bordeaux? Don’t worry, …
Where to Invest in Geelong, AU: Earn Up to A$39,399 with a 78% Occupancy Rate
Last updated on January 1st, 2024Where to Invest in Geelong, AU: Earn Up to A$39,399 with a 78% Occupancy Rate: Uncover the top Airbnb markets …
Annual Airbnb Revenue in Ruidoso new mexico, USA
Last updated on April 18th, 2024 Ruidoso, New Mexico| Airbnb Market Data & Overview | USA Ruidoso, New Mexico Airbnb Market Data & Overview USA …
Annual Airbnb Revenue in Eastbourne, UK
Last updated on April 18th, 2024 Eastbourne| Airbnb Market Data & Overview | UK Eastbourne Airbnb Market Data & Overview UK Is it profitable to …
Top 10 Places to Start an Airbnb Business in Oklahoma City
Last updated on August 11th, 2023Top 10 Places to Start an Airbnb Business in Oklahoma City: Wondering where the best places to Airbnb in Oklahoma …
