Last updated on June 21st, 2023
Best places to Airbnb in Boston
Key Takeaways
- Boston’s overall financial stability, student market, & tourism has helped various hosts in the city to earn a passive income.
- Discover what real estate investors can expect when investing in an Airbnb property in Boston and nearby areas.
- Find out the top 10 profitable areas for Airbnb nearby Boston along with their respective Airbnb data.
Introduction
Boston is known for its colonial history and Revolutionary War which attracts many curious visitors that want to learn more about it. This city is also fairly walkable and has many attractions in close proximity, which allows tourists to easily explore.
Aside from the fact that this city is a top historical tourist destination, it’s also worth mentioning that it is home to renowned institutes like Harvard and MIT. On top of that, Boston also owns a solid position as an economic leader in Massachusetts.
On the other hand, Airbnb mentioned Boston, MA as one of the most popular places to stay for extended periods to enjoy the fall season in the US!
Wondering which area in Boston you should target for Airbnb investment property?
We got you! In this article, we’ll talk about the best short-term rental places in Boston, Massachusetts and some of the expectations for investing in an Airbnb. Continue reading to learn more.
Why invest in an Airbnb in Boston, MA?
Boston is an interesting market to invest in for property investors. This city is widely known for its renowned institutes of higher education, but check out some of the major reasons why Airbnb Boston is a good investment:
1. Stable financial situation
Boston is not only the economic and political heart of Massachusetts State, but it’s also one of the fastest-growing cities in the country. The city is home to many major companies and over 40,000 small businesses, thus, it offers a booming job market. The significant sectors that contribute a lot to Boston’s economy are education, financial services, healthcare, and technology.
2. Touristy city
We can’t deny that Boston has a fascinating history and architecture created and inspired by world-renowned architects. In fact, the city is a top historical destination on the East Coast that attracts a great number of visitors throughout the year. On top of that, Boston is also relatively close to other touristy places like Salem and the mountains of New Hampshire.
3. Hottest rental markets
Boston offers one of the hottest rental markets in the State, especially if you’re interested in investing in the student real estate market. This city is also home to many prestigious institutions. According to Norada Real Estate, the high property prices and rental income in Boston have led to a decent return on investment for rental properties!
Is Airbnb Profitable in Boston?
Airbtics confirms that Airbnb Investment Properties in Boston are lucrative. Still, it’s good to have in mind that the level of profitability depends on your location and property type.
According to Airbtics’ data, an Airbnb host can expect an occupancy rate of 86% and an average daily rate of $282 for operating a 2-bedroom property in Boston, Massachusetts.
The 10 Best & Most Profitable Areas to Airbnb nearby Boston
Boston is the 24th most populous city in the US which has 23 designated neighborhoods. So you may wonder, “where should I invest in Airbnb in Boston?”– don’t worry, we got you! Check out the best neighborhoods and nearby cities in Boston, MA that are highly recommended for starting an Airbnb business:
1. Boston, Downtown
- Total Number of Airbnb Listings: 120
- Best bedroom size: 3 bedrooms
- Median property price (3-bedroom): $749,000
- Airbnb Annual revenue: $99,432
- Gross rental yield: 13.28%
2. Cambridge
- Distance from Boston: 3 miles (18 minutes drive)
- Total Number of Airbnb Listings: 472
- Best bedroom size: 2 bedrooms
- Median property price (2-bedroom): $889,000
- Airbnb Annual revenue: $70,338
- Gross rental yield: 7.91%
3. Provincetown
- Distance from Boston: 116 miles (2 hours 8 minutes drive)
- Total Number of Airbnb Listings: 495
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): $625,000
- Airbnb Annual revenue: $67,435
- Gross rental yield: 10.79%
4. Barnstable Town
- Distance from Boston: 60 miles (1 hour 14 minutes drive)
- Total Number of Airbnb Listings: 452
- Best bedroom size: 3 bedrooms
- Median property price (3 bedroom): $630,000
- Airbnb Annual revenue: $73,069
- Gross rental yield: 11.59%
5. Dennis
- Distance from Boston: 65 miles (1 hour 19 minutes drive)
- Total Number of Airbnb Listings: 378
- Best bedroom size: 3 bedrooms
- Median property price (3-bedroom): $659,000
- Airbnb Annual revenue: $67,769
- Gross rental yield: 10.28%
6. Worcester
- Distance from Boston: 40 miles (53 minutes drive)
- Total Number of Airbnb Listings: 120
- Best bedroom size: 3 bedrooms
- Median property price (3-bedroom): $450,000
- Airbnb Annual revenue: $62,597
- Gross rental yield: 13.91%
7. Providence, RI
- Distance from Boston: 42 miles (56 minutes drive)
- Total Number of Airbnb Listings: 430
- Best bedroom size: 2 bedrooms
- Median property price (2-bedroom): $315,000
- Airbnb Annual revenue: $46,533
- Gross rental yield: 14.77%
8. Newport, RI
- Distance from Boston: 62 miles (1 hour 23 minutes drive)
- Total Number of Airbnb Listings: 558
- Best bedroom size: 2 bedrooms
- Median property price (2-bedroom): $600,000
- Airbnb Annual revenue: $89,081
- Gross rental yield: 14.84%
9. Old Orchard Beach, ME
- Distance from Boston: 87 miles (1 hour 34 minutes drive)
- Total Number of Airbnb Listings: 259
- Best bedroom size: 2 bedrooms
- Median property price (2-bedroom): $400,000
- Airbnb Annual revenue: $59,986
- Gross rental yield: 15.03%
10. Conway, NH
- Distance from Boston: 114 miles (2 hours 22 minutes drive)
- Total Number of Airbnb Listings: 189
- Best bedroom size: 3 bedrooms
- Median property price (3-bedroom): $399,900
- Airbnb Annual revenue: $75,709
- Gross rental yield: 18.93%
Summary
Nearby cities and neighborhoods in Boston offer a variety of great property investment opportunities to investors. While there are many areas that you can discover and can bring attractive rental yields and annual revenue, it’s always recommended to analyze them carefully!
After getting an overview of the best short-term rental places for Airbnb in Boston, MA, go further and take a look at Airbtics’ Airbnb income estimator, so that you can maximize profitability and stand out among your competitors.
