Is it profitable to do Airbnb in Richmond Hill, Canada?
What is the occupancy rate of Airbnb in Richmond Hill, Canada?
What is the average daily rate of Airbnb in Richmond Hill, Canada?
Canada / Richmond Hill
Richmond Hill, Airbnb Market Statistics & Data, Canada
A typical short-term rental listing in Richmond Hill is booked for 215 nights a year, with a median occupancy rate of 59% and an average daily rate of CA$109. In 2023, a typical host income (annual revenue) was CA$23K. As of 12th September, 2024, there are 1,013 active Airbnb listings.
Average Revenue: CA$23K/yr
Occupancy Rate
59%
Avg Daily Rate
CA$109
Budget
No. of Listings
1,370
Medium
YoY Revenue Change
-8.39%
Best Month
June
** Period: 2023 Aug - 2024 July | Last Updated on: 12th September, 2024
Revenue By Month
2023-08 - 2024-07
Low
CA$1,401
Average
CA$2,064
High
CA$2,590
Is Airbnb Profitable in Richmond Hill?
Yes, there is good short-term rental demand. A 59% median occupancy rate is considered a good market for Airbnb. The graph below shows the average monthly host income by month.
Tip! 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 rental investment typically is double the amount of traditional rentals.
Starting an Airbnb in Richmond Hill
Short-term rental regulation is lenient in Richmond Hill. Very few Airbnb listing currently have put their license number on their Airbnb listing. This likely means the local government is not strictly enforcing the short-term rental-related regulations.
We made a guide on things you need to know before starting an Airbnb in Canada, learn how much it costs to start an Airbnb and if it’s profitable to start an Airbnb.
Average Airbnb Occupancy Rate in Richmond Hill
A typical listing recorded a 59% average occupancy rate between 2023-08 - 2024-07. In this graph, you can see the occupancy rate distribution. About 39.32% of the guests are international guests, and visitors from Canada is the largest group. Learn more about guest origin!.
You can find the distribution graph of daily rate and revenue in our market dashboard.
You can find the distribution graph of daily rate and revenue in our market dashboard.
Occupancy Rate: 59%
1,013 Active Listings
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Explore Richmond Hill's Airbnb Data ⟶
Best Areas in Richmond Hill for Airbnb
Are you wondering where to invest in Richmond Hill? Look no further!
Top demand Airbnb in Richmond Hill
Airbtics has been tracking all Airbnb listings since 2019. This allows us to understand interesting metrics, like which properties earn the most in the market. Here are our top picks. Go to the app to find detailed information about 1,013 listings.
See 1,013 listing Statistics
Professional Short-term rental property managers in Richmond Hill
We've compiled a list of host profiles that manage the most Airbnb properties in Richmond Hill. The dashboard shows their average occupancy rate, revenue, and year-over-year changes.
Other short-term rental market data in Richmond Hill
Here is a breakdown of short-let properties in Richmond Hill. You might wonder about more specific data before buying an Airbnb property. For example, how much can an average listing with 4 bedrooms and a pool make? Or, what is the seasonality in booking? When is the peak month? Click the below button and check out more in-depth vacation rental data for free.
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