Tag: lat_30.3321838

Best Places in Florida to Own an Airbnb: Top Areas for Investment Properties near Jacksonville

Post author By Magdalena Jara
Post date March 3, 2023

best places in florida to own an airbnb

Key Takeaways

The low-priced real estate market and economic growth of Jacksonville have helped many property investors to earn a good passive income by owning Airbnb listings.
Discover the advantages that real estate investors have when investing in Jacksonville, Florida.
We’ll reveal the 10 most lucrative neighborhoods and nearby cities in Jacksonville, FL and also their recommended property types & Airbnb data.

Introduction

Jacksonville is located on the Atlantic coast of northeastern Florida, thanks to this, it’s home to more than 1,100 miles of shoreline! Also known as the River City for being surrounded by 20% water, Jacksonville offers picturesque beaches and a variety of water sports to locals and visitors alike.

Jacksonville has a diversified economy and an affordable housing market that has attracted the attention of many real estate investors. Yet, you may be intrigued about the top areas to invest in real estate near Jacksonville, right? We got you!

In this article, we’ll feature the best places to own an Airbnb near Jacksonville, Florida and some of the expectations for real estate investments in this city. Stoked to learn more? Then continue reading!

Why should you consider buying an investment property in Jacksonville, Florida?

Investing in Airbnb in Jacksonville can be a great way to earn a passive income because it offers good investment opportunities to real estate investors. Living or investing in this city means that you will enjoy its beautiful beaches & parks and its fascinating cultural scene.

But what benefits does this location offer to property investors? Check out some of the reasons why doing real estate investment in Jacksonville is a good choice:

Affordable housing and cost of living

One of the top advantages of investing in Jacksonville is that its real estate market is affordable. In fact, the average property value is 24% lower than the US average and is also cheaper than other major cities in the state. According to Zillow Index, the median housing price is $291K, trending up 15.3% year over year.

As if the housing market prices weren’t enough, let me add another great aspect of Jacksonville’s livability, it has a low cost of living! Overall, it’s 8% less expensive than the national average and 7% lower than other cities in Florida.

Booming tourist spot

With more than 270 sunny days, 22 miles of sandy beaches, and the largest urban park system in the nation, Jacksonville surely draws the attention of travelers.

As a matter of fact, the city welcomes more than 22M visitors per year as confirmed by Visit Jacksonville portal. Hence, the tourist flow is quite consistent in the city, which is great if you’re considering catering to tourist accommodations.

Fastest-growing city in the southern US

The River City’s economy is consistently growing and is a hub for a plethora of varying job opportunities! Its economy is driven by the healthcare, education, tourism financial sectors. Thus, Jacksonville enjoys a steady economic expansion with an unemployment rate of 2.1%.

Is Airbnb Profitable in Jacksonville, Florida?

Are you concerned that your Airbnb listing in Jacksonville won’t make a good profit? Don’t fret anymore! Airbtics confirms that investing in real estate in Jacksonville is fairly profitable.

Yet, you should keep in mind that the level of profitability depends on the property type and location. In addition to this, you should also consider the Airbnb Rules in Jacksonville to avoid major issues.

Based on Airbtics’ data, an Airbnb host can expect an average annual revenue of $31,350 and a median occupancy rate of 64% for operating a 2-bedroom property in Jacksonville.

Top 10 Places to Own an Airbnb near Jacksonville, Florida

Jacksonville is one the largest city by area in the US and the most populous one in the state of Florida. Jacksonville has more than 500 defined neighborhoods and there are many interesting cities located nearby as well. Thus, it’s understandable if you’re having a hard time choosing the best place to set up your Airbnb listing here.

Check out the best neighborhoods and nearby cities in Jacksonville that are highly recommended for starting an Airbnb business:

1. Lakeshore, Jacksonville

Total Number of Airbnb Listings: 33
Best bedroom size: 2 bedrooms
Median property price (2 bedrooms): $184,000
Airbnb Annual revenue: $32,147
Gross rental yield: 17.47%

2. Baymeadows, Jacksonville

Total Number of Airbnb Listings: 29
Best bedroom size: 3 bedrooms
Median property price (3 bedrooms): $238,500
Airbnb Annual revenue: $39,093
Gross rental yield: 16.39%

3. San Marco, Jacksonville

Total Number of Airbnb Listings: 48
Best bedroom size: 3 bedrooms
Median property price (3 bedrooms): $299,900
Airbnb Annual revenue: $44,405
Gross rental yield: 14.81%

4. Springfield, Jacksonville

Total Number of Airbnb Listings: 82
Best bedroom size: 3 bedrooms
Median property price (3 bedrooms): $250,000
Airbnb Annual revenue: $36,608
Gross rental yield: 14.64%

5. Riverside, Jacksonville

Total Number of Airbnb Listings: 91
Best bedroom size: 3 bedrooms
Median property price (3 bedrooms): $298,000
Airbnb Annual revenue: $42,735
Gross rental yield: 14.34%

6. St. Augustine, FL

Distance from Jacksonville: 37 miles
Total Number of Airbnb Listings: 443
Best bedroom size: 2 bedroom
Median property price (2 bedroom): $329,900
Airbnb Annual revenue: $58,711
Gross rental yield: 17.79%

7. Gainesville, FL

Distance from Jacksonville: 61 miles
Total Number of Airbnb Listings: 337
Best bedroom size: 2 bedrooms
Median property price (2 bedrooms): $173,000
Airbnb Annual revenue: $40,300
Gross rental yield: 23.29%

8. Daytona Beach, FL

Distance from Jacksonville: 85 miles
Total Number of Airbnb Listings: 635
Best bedroom size: 2 bedrooms
Median property price (2 bedrooms): $225,000
Airbnb Annual revenue: $65,247
Gross rental yield: 29%

9. New Smyrna Beach, FL

Distance from Jacksonville: 99 miles
Total Number of Airbnb Listings: 598
Best bedroom size: 3 bedrooms
Median property price (3 bedrooms): $489,000
Airbnb Annual revenue: $88,948
Gross rental yield: 18.19%

10. Orlando, FL

Distance from Jacksonville: 125 miles
Total Number of Airbnb Listings: 695
Best bedroom size: 2 bedrooms
Median property price (2 bedrooms): $215,000
Airbnb Annual revenue: $45,015
Gross rental yield: 20.93%

Takeaway

In conclusion, Jacksonville offers a diversified housing market and also many profitable areas where hosts can get a nice cash-on-cash return. Although there are plenty of neighborhoods and nearby cities in Jacksonville with attractive annual revenues, it is still worth analyzing your options with care.

After finding out the best places in Florida to own an Airbnb property, take advantage of the digital era and check Airbtics’ short-term rental calculator. Stand out among other Airbnb hosts and maximize your profitability now!

Explore The Most Profitable Airbnb Locations Near Jacksonville

Tags Airbnb Investments, lat_30.3321838, lng_-81.655651

Airbnb Rental Arbitrage All About Airbnb

Airbnb Rental Arbitrage in Jacksonville

Post author By Robyn Peña
Post date September 13, 2022

Are you interested in achieving financial independence through passive income? Here’s a disclaimer: you don’t need to own a property to start the Airbnb rental arbitrage business.

In this article, we featured the entire process of Airbnb rental arbitrage in Jacksonville, its profitability, along with the best areas and neighborhoods. Continue reading to learn more about short-term regulations and ways to convince landlords to sublet properties for rental arbitrage.

What is Rental Arbitrage?

Rental Arbitrage is a perfect way to start an Airbnb business with no money. By convincing landlords to lease you a property, you can furnish and sublease it on Airbnb and VRBO. No need for you to buy a property.

It is perfectly legal and is a proven scalable business model. In my podcast, I have spoken to various entrepreneurs doing Airbnb arbitrage full-time.

Here’s a proof! In Jacksonville, Mark manages 57 listings and I’m pretty sure that he doesn’t own all the properties. He has made $7,004,437 in the last 12 months.

Is Rental Arbitrage Profitable in Jacksonville?

Before you dive in and start putting out your hard-earned money on a property, it’s important to know how much profit you can make. For instance, the best neighborhood to invest in is Springfield, which is one of the most attractive & charming neighborhoods in Jacksonville.

Using Airbtics’ income generator, you can easily discover that rental arbitrage in Jacksonville is profitable.

Profit & Monthly Expense in Jacksonville

Based on Airbtics’ data, you can earn a whopping $4,684 per month for a 2-bedroom apartment in Downtown alone. With the data provided, you can certainly tell that investing in a property in Jacksonville is profitable.

Average Rent Price	Airbnb Monthly Revenue	Monthly Expense	Monthly Profit
$1,725	$4,684	$937	$2,022

Source: Airbtics dashboard

The monthly profit can be calculated by subtracting the Airbnb monthly revenue, the rental price, and the monthly expenses ($4,684 – $1,725 – $937 = $2,022).

Startup Cost in Jacksonville

Now that you have an overview of how much your monthly expense & revenue, let’s talk about the start-up cost! How long does it take for an investor to get back the startup cost? Let’s take a look at this calculation:

Total Startup Cost (Average startup cost + 2 months rent price)	Cash Return Time
$5,540	3 months

The average estimated startup cost (for furnishing) in Jacksonville is around $2,000. To compute the total startup cost, it is necessary to add the 2 months of average rent price ($3,450). Now that we have a total startup cost of $5,450, cash return time can be calculated by dividing this by the monthly profit ($2,022).

Given your monthly revenue of $2,022, it will take approximately 3 months time to get back the startup cost! In such a short period of time, you can already expect profit and consider starting your second unit for rental arbitrage. If this sounds promising to you, then go ahead and look at the other best areas for rental arbitrage in Jacksonville.

Best Areas for Rental Arbitrage in Jacksonville

Before investing in a particular area in Jacksonville, you have to take a look at the top markets and number of listings to set your expectations towards success. Check out the top 3 boroughs in Jacksonville ranked by their annual revenue, along with their occupancy & daily rates!

1. Riverside

This neighborhood in Jacksonville has trendy gastropubs and restaurants. Riverside is also recognized as one of the safest neighborhoods in Jacksonville. Check out the Airbnb data such as the average revenue, occupancy rates, and more in Riverside:

Type of Bedrooms	Average Rent Price	Average Airbnb Revenue	Occupancy Rates	Average Daily Rate
1 bedroom	$1,150	$2,245	78%	$117
2-bedroom	$1,250	$2,557	82%	$133
3-bedroom	$1,885	$3,766	79%	$204

According to our Airbtics Dashboard, there are more than 87 Airbnb listings with 10 condo property and 3 one-bedroom properties in this area. The monthly revenue for most properties in Riverside is more than $2,213 per month with occupancy being more than 75%.

2. Springfield

Springfield is an up-and-coming trendy area that offers exciting places to visit including breweries and public art. Check out the Airbnb data such as the average revenue, occupancy rates, and more in Springfield:

Type of Bedrooms	Average Rent Price	Average Airbnb Revenue	Occupancy Rates	Average Daily Rate
1 bedroom	$875	$1,840	81%	$108
2-bedroom	$1,250	$2,020	67%	$118
3-bedroom	$1,495	$3,794	61%	$215

This area has a total of 73 Airbnb listings with 14 private room properties and 43 one-bedroom properties. The monthly revenue for most properties in Springfield is more than $1,873 per month with occupancy being more than 63%.

3. Downtown

This neighborhood is the main business district which generally targets business professionals and tourists. Check out the Airbnb data such as the average revenue, occupancy rates, and more in Downtown:

Type of Bedrooms	Average Rent Price	Average Airbnb Revenue	Occupancy Rates	Average Daily Rate
1 bedroom	$1,269	$2,082	80%	$104
2-bedroom	$1,725	$4,684	31%	$792
3-bedroom	$2,530	$3,630	43%	$228

This area has a total of 46 Airbnb listings with 3 private room properties and 26 one-bedroom properties. The monthly revenue for most properties in Downtown is more than $2,594 per month with occupancy being more than 48%.

Short-term rental regulations in Jacksonville

To begin with, it’s certainly important to be familiar with the Airbnb rules in Jacksonville to make sure that your business will run smoothly. Here are some of the short-term rental regulations and laws to take note of:

Short-term vacation rentals are permitted in zoning districts in Florida where residential uses are permitted.
If you are a property owner or a licensed agent for a property management company, you must apply for a short-term vacation rental certificate for every property being used as a short-term vacation rental.
All existing short-term vacation rentals that require a certificate are required to make an application to the City of Jacksonville Beach. You can register your short-term rental property to the planning and development department at city hall located at 11 3rd Street North.
If you are an owner-occupied dwelling with a unit renting 50% or less, you are not subject to the short-term vacation rental regulations. However, registration with county and state taxing authorities is still required.

Rental Properties in Jacksonville

To run an Airbnb rental arbitrage in Florida, you can look at property websites and get a grasp of the ranging prices in Jacksonville:

1. Zillow

2. Trulia

How to Find Landlords for Airbnb Rental Arbitrage

Airbnb investment through rental arbitrage is one of the best strategies to have passive income. However, it could be a challenge to find a landlord that allows their property for subletting on Airbnb. You can also convince a landlord by following the rental arbitrage email template & be extra creative!

Here are ways how you can find landlords that allow Airbnb rental arbitrage:

Real Estate Websites

Renters in the digital world who are looking for properties online can easily connect with landlords. Some of the most recommended online real estate websites which allow you to filter by city, state, or ZIP code are:

However, you can also find apartment & condominium properties online in the following websites:

Search Engines & Marketplaces

There are numerous property owners who are leasing their properties and you can easily find them on Google & online marketplaces. Check out some of the most recommended marketplaces:

Craigslist allows renters to specifically state what kind of property they are looking for. You can try typing in ‘landlords allowing Airbnb’ or ‘sublease property in (city name)’ and try other keywords to get you on the right track.
Facebook marketplace has a vast community of landlords & renters, so you can try joining the right groups to lead you on the right path. Here are some of the finest Facebook groups that you can join:

Communicate with Landlords

If you are currently renting a space or know someone who is, then it’s also recommended to speak with them. Start by asking if there are vacant rooms or properties and let them know about your intentions of putting them up for rental arbitrage. They might also be able to recommend neighbors or local friends who are also interested in this idea!

Tags Airbnb Rental Arbitrage, lat_30.3321838, lng_-81.655651

Airbnb Rules All About Airbnb

Airbnb Rules in Jacksonville

Post author By Robyn Peña
Post date September 13, 2022

If you are looking to invest in an Airbnb property in Florida, particularly in Jacksonville, this article is for you! Florida is one of the booming short-term rental areas and it was also recently recognized to be part of the most profitable Airbnb cities in the USA this summer of 2022.

There’s no doubt that the best places to Airbnb in Florida are generating thousands of dollars for property owners and investors. Because of this, there are also various investment opportunities that one should consider – especially in Jacksonville!

Continue reading to learn more about Airbnb rules in Jacksonville and check out the profitability in this city.

Is Airbnb legal in Jacksonville?

Let’s cut the story short: Yes, Airbnb is certainly legal in Jacksonville! With over 850 square miles of serene beaches and tourist attractions, this city is pretty much occupied with over 23.3 million visitors annually.

Jacksonville is vastly popular for its Museum of Contemporary Art, State Parks, Timucuan Ecological and Historical Preserve, and other tourist attractions.

Here is a little proof! As of July 2022, there are 15,123 nights available in Jacksonville from Airbnb alone. Mark manages 57 listings, while Eric and Andrew & Melody operate 39 and 31 respectively.

How much can I make by running an Airbnb in Jacksonville?

Currently, there are 1,125 Airbnb listings in Jacksonville, with 59% of entire houses earning up to $2,204 a month. The Average Occupancy Rate in Jacksonville is 61% and the average daily rate is $86. According to vacation holiday properties market data source Airbtics, a 2-bedroom apartment in Jacksonville can make up to $24,714 each year. Check out our Short-Term Rental Income Calculator and discover how much you can make on Airbnb!

What Are The Short-term Rental Accommodation Policies in Jacksonville?

Short-term vacation rentals are permitted in zoning districts in Florida where residential uses are permitted.
If you are a property owner or a licensed agent for a property management company, you must apply for a short-term vacation rental certificate for every property being used as a short-term vacation rental.
All existing short-term vacation rentals that require a certificate are required to make an application to the City of Jacksonville Beach. You can register your short-term rental property to the planning and development department at city hall located at 11 3rd Street North.
If you are an owner-occupied dwelling with a unit renting 50% or less, you are not subject to the short-term vacation rental regulations. However, registration with county and state taxing authorities is still required.

Is Jacksonville 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 Florida as a passive income!

Based on recent Airbnb statistics in Florida East Coast Beaches, Jacksonville’s occupancy rate has increased from 59% in 2021 to 76% this year. 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 are important to achieve success.

By using an accurate short-term rental calculator, you’ll be able to confirm if Jacksonville 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 Jacksonville.

Source: Airbtics Dashboard

Jacksonville’s Property Market 2022

Based on a recent report of Jacksonville’s rental market trend in 2022, there is a 19% price increase in comparison to the previous year. Despite this fact, more and more tenants are still interested in renting properties for passive income in Jacksonville.

Source: Jacksonville Rental Market

Here are some of the most recommended neighborhoods that you can look into & consider purchasing based on Airbtics estimator:

Suburbs	Average House Price (3bd apartments)	Average Rent Price	Average Airbnb Revenue
Riverside	$325,000	$1,885	$3,766
Springfield	$475,000	$1,495	$3,794
Downtown	$588,000	$2,530	$3,630

Source for Property Price: Properties in Jacksonville

Conclusion

In general, considering the Airbnb rules & regulations in Jacksonville 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!

Tags Airbnb Rules & Regulations, lat_30.3321838, lng_-81.655651

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