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 Lakewood, Ohio is good for Airbnb.
Maybe, it’s profitable to Airbnb because the average net rental yield for a one-bedroom property is 6.8%.
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 Lakewood, Ohio is booked for 212 nights a year, with a median occupancy rate of 58% and an average daily rate of $82. In Lakewood, Ohio, A typical host income (annual revenue) was $16,954 in 2023.
Best Areas in Lakewood for Airbnb
Are you wondering where to invest in Lakewood? 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. 🚀
Rocky River Reservation
Edgewater Park
Cleveland Metroparks Zoo
Great Lakes Science Center
West Side Market
Cleveland Museum of Art
Cleveland Botanical Garden
Cleveland Museum of Natural History
Progressive Field
FirstEnergy Stadium
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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