Top reasons for buying an Airbnb Property in Portland

Also known as the City of Roses, Portland offers striking natural surroundings, a creative cultural scene and an exquisite gastronomy that will make your mouth water. However, there’s more to learn as to why we recommend purchasing a property in this city. Here are some of the major reasons why you should consider buying a property for Airbnb in Portland:

1. Portland is an international tourist destination

It’s a given fact that Portland became a renowned touristy city that welcomes a great number of international and national travelers alike. This is one of the greenest cities in the US and offers around 300 parks for people to enjoy. In fact, Portland welcomes around 11M visitors annually.

2. Housing market: Relatively affordable 

The housing market in Portland offers a wide variety of property types as well as prices! While Portland’s real estate market went through a sudden increment in prices, it remains among the cheapest major West Coast cities to buy a house according to Norada Real Estate. Currently, the median housing value is $525K with a 1-year change value 0f 3.1%.

3. No shortage of job opportunities

Portland is home to many big businesses that have set up their HQs here, to name a few, we have Nike, Columbia, IBM and Intel! In addition to this, there are many startups and tech-based companies. We also must highlight that the tourism and hospitality sectors play an important role in the city’s economy. Thus, Portland attracts many people that are interested in its booming job market as well as entrepreneurs and self-starters.

Expectations When Buying A Property in Portland

Aside from the pros of investing in a property in Portland, let’s discuss some of the cons so you can know what to expect when living in this fascinating city. It’s always better to look at the two sides of each coin in order to properly set your expectations!

1. It’s not a cheap city

In Portland, the cost of living is 27% higher than the national average and 8% more expensive than in other cities in the State. But the positive aspect here is that in Portland there’s no sales tax.

2. Crime rate: Higher than the average

Not everything can be rosy and one of the biggest downsides in Portland is its significantly high crime rate. This aspect taints the great atmosphere of Portland a bit because is higher than the national average as there’s a crime rate of 66 per 1,000 residents. When it comes to property crime, the chance of becoming a victim is 1 in 17 based on NeighborhoodScout report.

3. Be mentally prepared for the traffic

We can deny that getting stuck in traffic is a headache and you can expect to get many with Portland’s congestion, things like this can become quite overwhelming. Drivers lose around 72hrs in congestion per year here and the bad news is that it gets worse as time passes.

Pros of buying an Airbnb Property in Washington City, Utah

Located in the southern central part of Utah, Washington City boasts amazing natural surroundings that open the doors to unique experiences. However, there’s more to learn about why we recommend purchasing a property in this city. Here are some of the major reasons why you should consider buying a property for Airbnb in Washington City:

1. The property tax rate is low

Property taxes can give headaches to homeowners from time to time, but don’t worry too much about paying high rates in Utah! Overall, Utah has an average effective property tax rate of 0.52%, which positions the State as the sixth-lowest in the country. Moreover, in Washington County, the rate is 0.61% assessed value.

2. How safe is this city?

While one should always be aware of their surroundings, Washington will let you take a breath away from violent crime issues. The crime rate here is 35% lower than the national average. In addition to this, the property crime rate is 28% lower than in other cities in the state.

3. Don’t worry about natural disasters!

It’s safe to say that property investors will always worry about natural disasters as they can greatly damage their properties. On top of that, insurance can be too expensive with certain damages. But the great news is that you won’t need to worry too much about these problems. According to Dwellics, in Washington, the city is not prone to natural disasters such as tornadoes, hurricanes and wildfires. 

What to Expect When Purchasing a Property in Washington City?

Now that we know the pros of investing in Washington City, let’s take a quick look at some of the cons. It’s always better to look at the two sides of each coin in order to properly set your expectations!

• Real estate in Washington City: Is it affordable?

Washington is, without a doubt, an attractive city to invest in, however, investors with a limited budget will have a difficult time finding affordable houses here as the prices are above other cities in the US. The average housing price in Washington City is $650K with a 1-year change value of 12.6% according to Realtor.

Pros of buying an Airbnb Property in San Diego

It’s a fact that San Diego is a captivating city with almost perfect weather and picturesque beaches. From a variety of shopping options to renowned theme parks, San Diego certainly has something to offer to everyone and you will never get bored here! However, there’s more to learn as to why we recommend purchasing a property in this city. Here are some of the major reasons why you should consider buying a property for Airbnb in San Diego:

1. Popular tourism destination

It’s undeniable that San Diego is one of the major tourist hotspots in Southern California and the tourism sector plays an essential role in San Diego’s economy as it brings a lot of tax revenue! Around 35M travelers visit this city annually to experience its fun recreational activities and lively atmosphere. This certainly is interesting info for investors who want to cater to tourist accommodations.

2. Booming job market 

San Diego is home to many large businesses and startups that allow it to enjoy a strong economy with a booming job market that is mainly based around sectors like healthcare, tourism & accommodations and manufacturing. In fact, the city has an unemployment rate of 2.7% which is lower than the national average of 6.0%.

3. Low crime rate

Safety is always a concern for homeowners and is always best to be aware of everything because we know that crime is something that can happen when you least expect it. Yet, San Diego is a quite safe city as its crime rate is 23 per one thousand residents and the chance to become a victim of property crime is 1 in 52.

Cons of purchasing a property in San Diego

Now that we know the pros of investing in San Diego, let’s take a quick look at some of the cons. It’s always better to look at the two sides of each coin in order to properly set your expectations!

• Cost of living & real estate in San Diego

San Diego is a captivating city and while it has positive aspects, we also need to analyze its downsides, for example, the housing market and cost of living. The median property price is near $900K with a 1-year value change of 7%.  On the other side, the living cost is 50% more expensive than the US average.