Key Takeaways
- Airbnb hosts can obtain a good passive income by managing rental properties in Maine since it offers a strong tourist market, good living conditions, high profitability, and more.
- Discover some of the benefits property investors can enjoy when investing in Maine real estate market.
- The best rental markets in Maine are featured here! We’ll also reveal their recommended property types and specific Airbnb data using Airbtics app.
Introduction
The state of Maine is nestled in the New England region of the Northeastern United States, being bordered by New Hampshire, the Atlantic Ocean and Canada. Maine’s cities are renowned vacation destinations that could capture anyone’s heart as you can contemplate one of the most beautiful natural sceneries in the US.
Maine offers a unique combination of striking natural surroundings, rich history, a relaxing lifestyle, heartwarming communities and a diverse economy. Thus, it’s understandable why this state has drawn the attention of property investors.
Yet, having clear goals is an important factor in investment success, especially if you are considering investing in the rental market of Maine. Hence, to start your Airbnb journey on the right foot you should first find out the most profitable locations for buying an investment property in Maine.
In this article, you can find the best places to invest in Airbnb in Maine. As a bonus, we’ll also mention some of the main reasons why property investors should consider investing in this destination. Continue reading to learn more about this market!
Top Reasons to Invest in Maine Real Estate
Buying a vacation home in Maine and then listing them on platforms like Airbnb is certainly a smart way to build your path toward financial freedom. Perhaps, that’s why Airbnb is so popular among young investors. But before taking a crucial step in this investment journey, it’s always good to know what kind of advantages the rental market of your target city can offer to investors.
If you’re targeting Maine, then make sure to check out some of the reasons why buying investment properties in cities located in this state can deliver fruitful rewards:
Diversified economy
Maine enjoys a diversified economy that includes sectors like agriculture, services and manufacturing industries. Thanks to its natural surroundings, national parks and beaches, the service sector, particularly the tourism industry, plays an important role in the economic situation of the state as it is the largest generator of employment.
The state also has a significant presence within the renewable energy sector with a variety of solar and wind power plants.
High standard of living
Maine is truly a dazzling destination, which offers a strategic location, and amazing living conditions. With a laidback lifestyle, remarkable scenery, stunning coastlines and a warming community, this state attract thousands of visitors each year as well as people looking to relocate to one of its cities. On top of that, most cities in Maine provide a safe and clean environment that is almost free of air pollution where you can safely enjoy outdoor activities.
Furthermore, Maine offers a good educational system that opens the doors to high-quality education with plenty of public schools and renowned higher institutions.
Low cost of living
Another advantage of Maine is that this state offers a fairly affordable living cost. The daily expenses, amenities, housing and public services are relatively cheap if we compared them to the national average.
The real estate market offers a variety of housing options at different prices. From affordable apartments to luxury houses in popular vocational spots, you can certainly find a property that fits not only your goals but also your budget.
Plenty of things to do
Maine is widely known for its stunning natural beauty. As we reach its seafront, we can find almost 5,500km of coastline with rocky shores, cliffs, beaches and some picturesque fishing ports. And if we move to the inside of the state, we can discover that its landscape is shaped by mountains, lakes, rivers and leafy forests. Considering its diverse geography, you can enjoy a wide range of outdoor activities all year round such as hiking, biking, boating and fishing,
Maine is the perfect destination to enjoy unique experiences and adventures. And of course, we can’t forget to mention Maine’s cultural background and it owns a rich history that can be found while visiting its charming cities. You can visit lively farmers’ markets, art galleries, handicraft shops, and vibrant entertainment venues, and don’t forget to try Maine’s exquisite dishes in one of its restaurants!
Is Airbnb Profitable in Maine?
Wondering if doing an Airbnb investment in Maine is worth it? Airbtics confirms that real estate investments in Maine can help you to obtain a good cash-on-cash return! But still, you should note that the level of profitability that a listing can generate depends on factors like the listing’s location and how many bedrooms it has. This is why choosing the best type of property type for your Airbnb is just as important.
If you’re thinking of buying a property to let in Maine, then you may like to know how much profitability a listing can generate. Let us give you a hint! – An Airbnb host can expect an average annual revenue of $51,016 and a median occupancy rate of 53% for operating a 2-bedroom property in Maine as confirmed by Airbtics’ data.
Best Places to Invest in Airbnb in Pittsburgh
best places to invest in Maine
Source: Airbtics Dashboard
Best Places Rental Markets to Invest in Maine
While there are a variety of Airbnb host expenses to consider before listing a property, the most important factor that investors should consider is the property’s location.
It’s worth mentioning that many cities in Maine are popular tourist destinations. Hence, some of them certainly can offer interesting investment opportunities, albeit each of them can generate different levels of profitability. For this reason, it can be quite a challenge to choose the right location to set up your rental property in Maine.
Check out the best places to invest in Airbnb around Maine and are recommended for starting an Airbnb business:
|
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|---|---|---|---|---|---|
| City | Number of Airbnb Listings | Best Bedroom Size | Median Property Price | Airbnb Annual Revenue | GRY |
| Bar Harbor | 314 | 3 bedrooms | $606,000 (3 BD) | $100,675 | 16.61% |
| Southwest Harbor | 175 | 2 bedrooms | $545,000 (2 BD) | $73,200 | 13.43% |
| York | 308 | 2 bedrooms | $615,000 (2 BD) | $72,798 | 11.84% |
| Portland | 634 | 2 bedrooms | $590,000 (2 BD) | $68,976 | 11.69% |
| Old Orchard Beach | 365 | 2 bedrooms | $429,000 (2 BD) | $61,937 | 14.44% |
| Camden | 112 | 1 bedroom | $294,000 (1 BD) | $56,263 | 19.14% |
| Boothbay Harbor | 130 | 1 bedroom | $326,000 (1 BD) | $44,448 | 13.63% |
| Bangor | 222 | 2 bedrooms | $260,000 (2 BD) | $43,053 | 16.56% |
City
Airbnb Dataset
- Total Number of Airbnb Listings: 314
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $606,000
- Airbnb Annual revenue: $100,675
- Gross rental yield: 16.61%
- Total Number of Airbnb Listings: 175
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $545,000
- Airbnb Annual revenue: $73,200
- Gross rental yield: 13.43%
- Total Number of Airbnb Listings: 308
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $615,000
- Airbnb Annual revenue: $72,798
- Gross rental yield: 11.84%
- Total Number of Airbnb Listings: 634
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $590,000
- Airbnb Annual revenue: $68,976
- Gross rental yield: 11.69%
- Total Number of Airbnb Listings: 365
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $429,000
- Airbnb Annual revenue: $61,937
- Gross rental yield: 14.44%
- Total Number of Airbnb Listings: 112
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): $294,000
- Airbnb Annual revenue: $56,263
- Gross rental yield: 19.14%
- Total Number of Airbnb Listings: 130
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): $326,000
- Airbnb Annual revenue: $44,448
- Gross rental yield: 13.63%
- Total Number of Airbnb Listings: 222
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $260,000
- Airbnb Annual revenue: $43,053
- Gross rental yield: 16.56%
Source: Airbtics Dashboard
How to Find the Best Places to Invest in with Airbtics
Here’s how you can find the best places to invest in Airbnb in Maine or any other location that you want to target easily. First, access to Airbtics Dashboard and type “Maine” in the search bar to have an overview of the data in this region.
Here you can try out different approaches to get the best market:
1. You can research the cities and neighborhoods of a destination and find the one that suits your tastes best. If you already have a specific city, town or neighborhood in mind, type the name on the search bar. On the results section, you may find your preferred area or;
2. If the target area doesn’t have an active market, you can customize your own map to get the most personalized results!
Please notice that to unlock your preferred location, you will need to use 1 Market Credit.
After finding your target market, it’s time to discover whether the area would provide fruitful rewards to you or not. When unlocking the market, you will have access to the following dataset:
- Occupancy Rate
- Average Daily Rate
- Annual Revenue
- Nightly Rate
- Seasonality
- Average Length of Stay
- Top-performing listings
- Revenue Heatmap
What’s next? Now, you will have a better overview of your target area, but you want to dive deeper and obtain more specific data points. Then, you can use the filter to play around with the results.
Let’s say your target market is the town of York, ME. You can use the filters to find out what type of property in this market offers the most attractive results. For instance, if you want to know if a 2-bedroom apartment is a profitable investment, then you can hover over the options on the filter tab and find out the answer to that question.
Now, you can decide if a 2-bedroom apartment is a good investment in York, ME, OR compare it with other property types until you find out the most lucrative option for you! The best part is that Airbtics provides dynamic data. Thus, when you move and zoom in and out of your map, the data will also change accordingly.
Easy peasy, right? Wait no more and have full access to your dream market with Airbtics!
Access Airbnb data to make smart investment decisions
We can conclude that Maine’s real estate market offers some lucrative locations for rental properties where investors can obtain a good return on investment just by listing their property on Airbnb.
However, we recommend exploring different locations and reviewing all options carefully so that you won’t miss out on better investment opportunities. Thus, you should take advantage of the digital era and analyze markets using dynamic data with Airbtics.
Now that you have a better overview of the best places to invest in Airbnb in Maine, we encourage you to continue your market analysis while checking Airbtics’ Airbnb profit estimator. This way you will improve your strategies by making data-based decisions!
