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Best Touristy Towns To Own Rental Property

Sophia Zolan

Imagine owning a rental property that generates a constant stream of passive income because it’s so in demand with tourists. This dream can become a reality if you decide to buy property in a town that offers popular local attractions, such as adventurous theme parks, lush wineries and beautiful museums.

If you want to invest in a rental property, the next step is to find the most worthwhile places to look. To determine the best touristy towns to own rental property, GOBankingRates analyzed the annual rental revenue and average daily rental rate in 50 cities and destinations. The annual rental revenue for each town comprises the total nightly rate and cleaning fees earned over the past year and doesn’t include taxes, service fees or additional guest fees. The average daily rental rate consists of the average nightly rate and cleaning fees for all booked days over the last year.

With growing platforms like Airbnb and HomeAway, it’s a simple task to rent out your property to eager vacationers across America. California, in particular, hosts the largest number of cities with popular attractions, followed by Florida. Overall, there are plenty of U.S. cities where you can own a lucrative investment property.

50. Grand Canyon, Arizona

  • Attraction(s): Grand Canyon National Park
  • Annual rental revenue: $1,743
  • Average daily rental rate: $80

49. St. Louis


  • Attraction(s): Gateway Arch, St. Louis’ Old Courthouse and Missouri Botanical Garden
  • Annual rental revenue: $1,757
  • Average daily rental rate: $109

48. Philadelphia


  • Attraction(s): Liberty Bell, Independence Hall and South Street
  • Annual rental revenue: $2,129
  • Average daily rental rate: $143

Read More: 13 Ways To Invest That Don’t Involve the Stock Market

47. Colorado Springs, Colorado


  • Attraction(s): Pikes Peak and Cheyenne Mountain
  • Annual rental revenue: $2,375
  • Average daily rental rate: $144

46. Niagara Falls, New York


  • Attraction(s): Niagara Falls
  • Annual rental revenue: $2,064
  • Average daily rental rate: $164

45. Williamsburg, Virginia


  • Attraction(s): Colonial Williamsburg and Busch Gardens Williamsburg
  • Annual rental revenue: $1,864
  • Average daily rental rate: $181

44. Joshua Tree, California


  • Attraction(s): Joshua Tree National Park
  • Annual rental revenue: $2,209
  • Average daily rental rate: $160

43. Gettysburg, Pennsylvania


  • Attraction(s): Gettysburg National Military Park and Eisenhower National Historic Site
  • Annual rental revenue: $2,080
  • Average daily rental rate: $171

42. Washington, D.C.


  • Attraction(s): White House, United States Capitol and Smithsonian
  • Annual rental revenue: $2,495
  • Average daily rental rate: $149

41. Miami


  • Attraction(s): Everglades, South Beach, art deco architecture and Little Havana
  • Annual rental revenue: $2,248
  • Average daily rental rate: $166

40. Chicago


  • Attraction(s): Art Institute of Chicago, Willis Tower and Wrigley Field
  • Annual rental revenue: $2,386
  • Average daily rental rate: $158

39. Seattle


  • Attraction(s): Space Needle and Pike Place Market
  • Annual rental revenue: $2,637
  • Average daily rental rate: $156

38. Los Angeles


  • Attraction(s): Hollywood, Venice Beach, Santa Monica State Beach and Universal Studios Hollywood
  • Annual rental revenue: $2,785
  • Average daily rental rate: $160

37. Fort Lauderdale, Florida


  • Attraction(s): Las Olas Boulevard, Bonnet House Museum and Gardens, and widespread beaches
  • Annual rental revenue: $2,465
  • Average daily rental rate: $180

36. Juneau, Alaska


  • Attraction(s): Mendenhall Glacier, Tracy Arm Fjord and Tongass National Forest
  • Annual rental revenue: $2,794
  • Average daily rental rate: $166

35. New Orleans


  • Attraction(s): French Quarter, Mardi Gras, bustling jazz clubs and timeless streetcars
  • Annual rental revenue: $2,501
  • Average daily rental rate: $187

34. Orlando, Florida


  • Attraction(s): Walt Disney World Resort and Universal Orlando Resort
  • Annual rental revenue: $2,590
  • Average daily rental rate: $183

33. Ashford, Washington


  • Attraction(s): Mount Rainier National Park
  • Annual rental revenue: $2,806
  • Average daily rental rate: $183

32. Las Vegas


  • Attraction(s): Las Vegas Strip and casinos
  • Annual rental revenue: $2,800
  • Average daily rental rate: $196

31. St. Augustine, Florida


  • Attraction(s): Colonial Quarter, Castillo de San Marcos National Monument and St. Augustine Beach
  • Annual rental revenue: $2,914
  • Average daily rental rate: $197

30. Keystone, South Dakota


  • Attraction(s): Mount Rushmore National Memorial
  • Annual rental revenue: $2,900
  • Average daily rental rate: $200

29. New York


  • Attraction(s): Statue of Liberty, Empire State Building and One World Trade Center
  • Annual rental revenue: $3,060
  • Average daily rental rate: $191

28. Sedona, Arizona


  • Attraction(s): Coconino National Forest, canyons and red sandstone formations
  • Annual rental revenue: $2,918
  • Average daily rental rate: $200

27. Honolulu


  • Attraction(s): Waikiki Beach, Pearl Harbor National Memorial and Diamond Head State Monument
  • Annual rental revenue: $3,335
  • Average daily rental rate: $179

26. Savannah, Georgia


  • Attraction(s): Historic District, Forsyth Park and no open container laws
  • Annual rental revenue: $3,005
  • Average daily rental rate: $214

25. Adirondack, New York


  • Attraction(s): Adirondack Mountains and Schroon Lake
  • Annual rental revenue: $3,099
  • Average daily rental rate: $228

24. San Diego


  • Attraction(s): San Diego Zoo, Gaslamp Quarter and Coronado
  • Annual rental revenue: $3,375
  • Average daily rental rate: $211

23. Gatlinburg, Tennessee


  • Attraction(s): Great Smoky Mountains National Park
  • Annual rental revenue: $3,700
  • Average daily rental rate: $215

22. Charleston, South Carolina


  • Attraction(s): Fort Sumter and Fort Moultrie National Historical Park and Aiken-Rhett House Museum
  • Annual rental revenue: $3,365
  • Average daily rental rate: $236

21. Sanibel Island, Florida


  • Attraction(s): Sanibel Stoop, Wildlife Drive and beaches
  • Annual rental revenue: $3,740
  • Average daily rental rate: $250

20. San Francisco


  • Attraction(s): Golden Gate Bridge, Alcatraz Island and iconic cable cars
  • Annual rental revenue: $3,958
  • Average daily rental rate: $238

19. Boston


  • Attraction(s): Fenway Park, Boston Common and Bunker Hill Monument
  • Annual rental revenue: $4,204
  • Average daily rental rate: $240

18. Bryce, Utah


  • Attraction(s): Bryce Canyon National Park
  • Annual rental revenue: $4,458
  • Average daily rental rate: $227

17. Bar Harbor, Maine


  • Attraction(s): Acadia National Park and Bar Harbor’s Main Street
  • Annual rental revenue: $4,450
  • Average daily rental rate: $248

16. West Yellowstone, Montana


  • Attraction(s): Yellowstone National Park
  • Annual rental revenue: $3,981
  • Average daily rental rate: $289

15. Steamboat Springs, Colorado


  • Attraction(s): Popular outdoor activities, such as hiking, horseback riding, rafting and biking; summer festivals, including the Hot Air Balloon Rodeo and Art in the Park; Strawberry Park Hot Springs; and Old Town Hot Springs
  • Annual rental revenue: $3,315
  • Average daily rental rate: $339

14. Anaheim, California


  • Attraction(s): Disneyland Park
  • Annual rental revenue: $4,710
  • Average daily rental rate: $263

13. Rodanthe, North Carolina


  • Attraction(s): The Outer Banks (family-friendly beaches, barrier islands and historic shipwrecks to explore)
  • Annual rental revenue: $4,331
  • Average daily rental rate: $287

12. Destin, Florida


  • Attraction(s): Henderson Beach State Park
  • Annual rental revenue: $4,437
  • Average daily rental rate: $282

11. South Lake Tahoe, California

  • Attraction(s): Lake Tahoe
  • Annual rental revenue: $3,856
  • Average daily rental rate: $349

10. Springdale, Utah


  • Attraction(s): Zion National Park
  • Annual rental revenue: $4,950
  • Average daily rental rate: $322

9. Newport, Rhode Island


  • Attraction(s): Colonial homes, Thames Street, Fort Adams and sprawling beaches
  • Annual rental revenue: $4,334
  • Average daily rental rate: $369

8. Key West, Florida


  • Attraction(s): Florida Keys, celebrated beaches and ample fishing
  • Annual rental revenue: $5,276
  • Average daily rental rate: $321

7. Jackson, Wyoming


  • Attraction(s): Jackson Hole, Snow King Mountain and Grand Teton National Park
  • Annual rental revenue: $5,086
  • Average daily rental rate: $428

6. West Glacier, Montana


  • Attraction(s): Glacier National Park
  • Annual rental revenue: $6,301
  • Average daily rental rate: $359

5. Yosemite, California


  • Attraction(s): Yosemite National Park
  • Annual rental revenue: $6,275
  • Average daily rental rate: $427

4. Sonoma, California


  • Attraction(s): 400 wineries (some of which offer free tastings), farm-to-table eateries, specialty food stores and bustling farmers markets, plus breweries, distilleries and cider houses
  • Annual rental revenue: $5,817
  • Average daily rental rate: $456

3. Telluride, Colorado


  • Attraction(s): Skiing and film festival
  • Annual rental revenue: $5,600
  • Average daily rental rate: $514

2. Aspen, Colorado


  • Attraction(s): Skiing
  • Annual rental revenue: $6,300
  • Average daily rental rate: $625

1. Big Sur, California


  • Attraction(s): Home of the famous U.S. Highway 1 and the longest scenic stretch of undeveloped coastline in the contiguous United States
  • Annual rental revenue: $12,650
  • Average daily rental rate: $756

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Methodology: GOBankingRates determined the best touristy towns to own rental property by using U.S. News & World Report’s Best USA Vacation Rankings to generate a list of 50 cities, towns and destinations, which were then analyzed in terms of annual rental revenue and average daily rental rate, sourced from AirDNA. These two factors were scored and added together, and then all 50 places were ranked. All data used to conduct this study was compiled and verified on Sept. 19, 2019.

This article originally appeared on GOBankingRates.com: Best Touristy Towns To Own Rental Property