Last updated on June 22nd, 2023
Are you looking to invest in an Airbnb property in Arizona? If you have chosen Phoenix in particular, then you’re on the right track.
There’s no doubt that the best places to Airbnb in Arizona are generating thousands of dollars which catches the attention of property owners and investors. In addition to this, Phoenix offers various investment opportunities that one should not miss out on.
Continue reading to learn more about Airbnb rules in Phoenix and check out the profitability in this city.
Is Airbnb legal in Phoenix?
Let’s cut the story short: Yes, Airbnb is certainly legal in Phoenix! With more than 8 million visitors annually, this city is popular for its thrilling attractions such as the Desert Botanical Garden, Scottsdale Civic Center Plaza, Tempe, and more.
Here is a little proof! As of July 2022, there are 35,456 nights available in Phoenix from Airbnb alone. WanderJaunt manages 101 listings, while Evolve and Rebl operate 64 and 42 respectively.
How much can I make by running an Airbnb in Phoenix?
Currently, there are 3,128 Airbnb listings in Phoenix, with 77% of entire houses earning up to $3,033 a month. The Average Occupancy Rate in Phoenix is 67% and the average daily rate is $113. According to vacation holiday rental market data source Airbtics, a 2-bedroom apartment in Phoenix can make up to $36,333 each year. Check out our Short-Term Profit Estimator to discover how much income you can make with Airbnb!
What Are The Short-term Rental Accommodation Policies in Phoenix?
- It is required for short-term or vacation rental owners to register with the city and provide emergency and complaint contact information.
- All residential rental units, including vacation and short-term rentals, must be registered with Maricopa County.
- Phoenix requires owners and operators of hotels and certain property rentals to apply for a license to operate.
Is Phoenix A Profitable Area to Invest In?
If you’re worried about spending thousands of bucks to purchase a property, the good news is you have an option of not owning one. This is because there are many property investors who enjoy doing rental arbitrage in Phoenix as a passive income!
Based on a recent report about Airbnb occupancy rates by city, Phoenix has a potential annual revenue of $33,636 during peak seasons in February. These Airbnb metrics are important in order to expect potential revenue and avoid losing hard-earned money. Before starting an Airbnb business, getting to know your preferred area’s occupancy rates, average daily rates, and annual revenue is important to achieve success.
By using an accurate short-term rental calculator, you’ll be able to confirm if Phoenix is a good place for investment! In the digital era, it’s easy to discover your estimated annual revenue and high-return investment opportunities in Phoenix.
Phoenix’s Property Market 2022
Based on a recent report of the rental market trend in Phoenix, rent price has increased by $105 in comparison to the previous year. Despite this fact, more and more tenants are still interested in renting properties for passive income in Phoenix.
Source: Rental Price Trend in Phoenix
Profitable Neighborhoods in Phoenix
Here are some of the most recommended neighborhoods that you can look into & consider purchasing based on Airbtics estimator:
| Suburbs | Average House Price (2bd apartments) | Average Rent Price | Average Airbnb Revenue |
|---|---|---|---|
| Central City | $475,000 | $1,926 | $2,824 |
| Midtown | $272,000 | $2,125 | $3,370 |
| Arcadia Lite | $329,000 | $1,750 | $3,738 |
Source for Property Price: Properties in Phoenix
Conclusion
In general, considering the Airbnb rules & regulations in Phoenix will help your Airbnb business to run smoothly! Aside from the fact that this is a passive income for various hosts, starting an Airbnb business is also a way to enjoy life and connect with new people from all over the world. Try Airbtics now and make the wisest investment decisions!
