The Housing Market Becomes More Favorable for Buyers with Rural Mountain and Coastal Locations Dominating the List for Year-Round Vacation Rental Potential
DENVER, Oct. 21, 2021 /PRNewswire/ -- Evolve, a leading hospitality company with more than 16,000 vacation rentals, has officially released its Best Places to Buy a Vacation Rental in 2022 findings, a list of a dozen destinations in the U.S. that consistently outperform the market and deliver outstanding ROI for owners. The list is based on a combination of three main metrics: vacation rental performance across the U.S., Zillow's 2021 median home value, and estimated yearly expenses to operate a vacation rental.
Out of Evolve's top 12 destinations, 75 percent are in mountainous regions while 25 percent are waterfront locations, a finding that ties into a larger consumer trend within the travel industry.
"Evolve's 2022 Travel Trends Forecast uncovered that out of more than 5,000 travelers surveyed, the majority are seeking out rural, secluded mountain escapes and waterfront getaways – 60.7 percent and 83.7 percent respectively – over urban experiences," said Louis Olds, senior manager of real estate services at Evolve. "The best places to invest directly correlates with these highly sought after vacation experiences, which ultimately maximizes revenue potential."
According to the Home Buying Institute, recent reports are showing an increased number of houses for sale, slowing price appreciation, and a general cooling trend for real estate. This indicates the housing market may become more favorable for buyers in 2022 than it has been this year.
"Vacation rentals continue to see strong gains in both consumer interest and high revenue performance, with no signs of slowing down. That fact, coupled with a slightly less competitive real estate market, indicates 2022 will be a perfect time to invest in a second home," said Olds.
Evolve's 2022 best places to buy a vacation rental:
The Poconos, PA
Bryson City, NC
Surfside Beach, TX
North Conway, NH
Gulf Shores, AL
Pinetop - Lakeside, AZ
New destinations dominated this year's best places to buy, showcasing expanded investment opportunities for homebuyers. Three destinations — Surfside Beach, TX; Gulf Shores, AL; The Poconos, PA — were also selected for Evolve's Best Places to Buy a Beach House and Best Places to Buy a Lake House lists released this summer.
For more information on each of the destinations featured in Evolve's Best Places to Buy a Vacation Rental in 2022, to learn more about their real estate services, or to become an Evolve owner, visit www.evolve.com.
Best Places to Invest Methodology
Evolve's annual "Best Places to Invest" list is aggregated based on a combination of proprietary and public data. The list focuses on three main metrics: Vacation rental performance metrics across the U.S. to learn where bookings lead to higher median revenue; Zillow's 2021 median home value to identify listing prices; and estimated yearly expenses to run a vacation rental (approximately 30 percent of total revenue) to help calculate capitalization rates.
Evolve is a hospitality company with a mission to make renting a vacation home easy for both guests and owners. They have helped over 5 million guests rest easy knowing their homes are vetted, their support is 24/7, and if a stay doesn't meet their standards, they'll make it right. Evolve also makes vacation rental stress-free for over 16,000 homeowners, partnering with them to book more and keep more of what they earn thanks to an industry-low 10% management fee. Learn more at www.Evolve.com.
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