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.
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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!