Farmington Hills, Michigan| Airbnb Market Data & Overview | USA
Farmington Hills, Michigan Airbnb Market Data & Overview USA
Is it profitable to do Airbnb in Farmington Hills, Michigan, USA?
What is the occupancy rate of Airbnb in Farmington Hills, Michigan,
USA?
What is the average daily rate of Airbnb in Farmington Hills, Michigan,
USA?
Farmington Hills, Michigan, USA Airbnb Data
Last updated on: 5th May, 2024
USA / Farmington Hills, Michigan
Investing
in a short-term rental can be highly stable and
profitable. It’s stable because housing has been
one of the most stable asset classes. Also, when
you can’t do an Airbnb anymore, you can still
rent it out to a long-term tenant with a lower
yield. It is highly profitable because the
monthly cash flow from short-term rentals
typically is double the amount of traditional
rentals.
The true profit from home investing comes from
capital appreciation and cash flow from your
rental. Between 1850 and 2015, globally, the
average home value appreciated at
5.5% annually. If your short-term rental
yields 3% of your total initial
investment, your investment’s annual return is
8.5% before taxes are considered.
Without further ado, let’s see if
Farmington Hills, Michigan is good for Airbnb.
Yes, it’s profitable to Airbnb
because the average net rental yield for a
one-bedroom property is
10.3%.
The national median net short-term rental yield is
5.4% in the USA. For more context, a
traditional rental can typically yield 2-4% if
you don’t have to pay a mortgage interest. A typical
1 bedroom listing in Farmington Hills, Michigan is booked for
164 nights a year, with a median
occupancy rate of 45% and an average
daily rate of $96. In Farmington Hills, Michigan, A typical
host income (annual revenue) was
$19,764 in 2023.
Best Areas in
Farmington Hills for
Airbnb
Are you wondering where to invest in Farmington Hills? Look no
further! Here are 10 areas travelers often search for.
You can find the short-term rental statistics of all of
these neighborhoods from Airbtics! Check out which
neighborhood has the highest rental demand. 🚀
Detroit Institute of Arts
Henry Ford Museum
Detroit Historical Museum
Greenfield Village
Belle Isle Park
Fox Theatre
Comerica Park
The Guardian Building
Motown Museum
Detroit Riverwalk
Okay, you might wonder about more specific data. For
example, how much can an average listing with 2 bedrooms
and a pool make? Or, what is the seasonality in booking?
When is the peak month?
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vacation rental data for free.
