Brief-Time period Rental Costs Surge at These 20 Trip Hotspots

In case you’re heading to a trip hotspot this summer time, you may be paying a markup of greater than 100% for a keep at a short-term rental.

A brand new research from Bankrate recognized 20 trip hotspots the place short-term rental costs surge throughout their busy season — 10 within the fall and winter and 10 within the spring and summer time.

The research used rental information compiled by AirDNA, a trip rental analytics agency, to find out the place rental costs hiked essentially the most in 2024. It additionally targeted on properties that had been single-family houses with a minimum of two bedrooms.

Augusta, Georgia, skilled the best peak season markup, with the typical day by day fee for short-term leases spiking 178% within the spring, because of the Masters Event. A household beforehand informed Enterprise Insider that renting their residence out for Grasp’s week paid their mortgage for the 12 months.

Different places that spiked within the spring and summer time included water locations, like Lengthy Island, New York, and Lake of the Ozarks, Missouri, in addition to Bozeman, Montana, which is close to Yellowstone Nationwide Park. Bozeman additionally was among the many highest markups within the winter as a consequence of its snowboarding.

Locations that noticed the largest markups in fall and winter included sport and snowboarding locations similar to Vail, Avon, and Steamboat Springs in Colorado, in addition to Inexperienced Bay, Wisconsin, and Ann Arbor, Michigan. The largest fall or winter markup was 125% in Oxford, Mississippi, which attracts 1000’s each fall to look at Ole Miss soccer.

Alex Gailey, a knowledge analyst at Bankrate, informed BI the massive swings in rental costs at these standard locations was “eye-popping.” She additionally famous many People are saying they nonetheless plan to journey this 12 months however that they’re making an attempt to be extra budget-conscious.

“Flexibility is among the greatest methods it can save you on journey,” Gailey mentioned.

For vacationers who do wish to go to these hotspots within the busy season, Gailey mentioned it is best to plan forward of time and ebook early. Vacationers who’ve flexibility of their journey dates also needs to use it, as short-term leases are typically rather a lot cheaper through the week than on the weekends.

She additionally mentioned in case you can keep away from a busy season go to, you are more likely to discover higher charges visiting these locations within the shoulder seasons.

Another choice is to remain in an adjoining metropolis that’s shut by however doesn’t expertise the identical stage of value hike. For example, staying in Salt Lake Metropolis could be a lot extra budget-friendly than Park Metropolis, the place short-term leases can price over 103% extra on common within the fall or winter season, in line with Bankrate.

Gailey additionally mentioned profiting from bank card factors and different journey rewards could be a good option to make journey extra budget-friendly regardless of broader financial uncertainty.

Here is the complete lists of places and the typical peak season markup for short-term leases, in line with the Bankrate research.

Spring and summer time

1. Augusta, Georgia
Most common day by day fee: $541
Minimal common day by day fee: $194
Peak season markup: 178%

2. Lengthy Island, New York
Most common day by day fee: $785
Minimal common day by day fee: $362
Peak season markup: 117%

3. Albany/Saratoga Springs, New York
Most common day by day fee: $439
Minimal common day by day fee: $224
Peak season markup: 96%

4. Bozeman/Yellowstone Nationwide Park
Most common day by day fee: $611
Minimal common day by day fee: $313
Peak season markup: 95%

5. Lake of the Ozarks, Missouri
Most common day by day fee: $407
Minimal common day by day fee: $212
Peak season markup: 92%

6. Lake Norman, North Carolina
Most common day by day fee: $692
Minimal common day by day fee: $364
Peak season markup: 90%

7. Norfolk/Virginia Seashore, Virginia
Most common day by day fee: $435
Minimal common day by day fee: $231
Peak season markup: 88%

8. Idaho Falls/Rexburg, Idaho
Most common day by day fee: $377
Minimal common day by day fee: $201
Peak season markup: 87%

9. Windfall, Rhode Island
Most common day by day fee: $388
Minimal common day by day fee: $211
Peak season markup: 84%

10. Myrtle Seashore, South Carolina
Most common day by day fee: $349
Minimal common day by day fee: $195
Peak season markup: 79%

Fall and winter

1. Oxford, Mississippi
Most common day by day fee: $635
Minimal common day by day fee: $283
Peak season markup: 125%

2. Vail/Avon, Colorado
Most common day by day fee: $946
Minimal common day by day fee: $424
Peak season markup: 123%

3. Inexperienced Bay, Wisconsin
Most common day by day fee: $457
Minimal common day by day fee: $215
Peak season markup: 113%

4. Steamboat Springs, Colorado
Most common day by day fee: $694
Minimal common day by day fee: $335
Peak season markup: 107%

5. Ann Arbor, Michigan
Most common day by day fee: $414
Minimal common day by day fee: $201
Peak season markup: 105%

6. Park Metropolis, Utah
Most common day by day fee: $888
Minimal common day by day fee: $436
Peak season markup: 103%

7. Aspen/Snowmass, Colorado
Most common day by day fee: $1,082
Minimal common day by day fee: $535
Peak season markup: 102%

8. State School, Pennsylvania
Most common day by day fee: $642
Minimal common day by day fee: $315
Peak season markup: 98%

9. Bozeman/Yellowstone Nationwide Park, Montana
Most common day by day fee: $611
Minimal common day by day fee: $313
Peak season markup: 95%

10. Mammoth Lakes, California
Most common day by day fee: $554
Minimal common day by day fee: $303
Peak season markup: 83%