2020 has brought about some big shifts in travel and tourism. Since international travel is off the cards for tourists in many countries, this is the year of the staycation. With this in mind, a recent survey ranks the best places for US vacation rental homes in 2020. Perhaps unsurprisingly, Florida metros feature high on the list.
Shifts in travel
The tourist industry is one of the hardest hit in the current covid-19 pandemic. Lockdown and stay at home recommendations led to almost paralysis in the sector, which is only just starting to emerge again. However, the situation has also led to opportunities and staycations now stand as stalwarts for local tourism.
“Travel doesn’t stop when the economy weakens,” says the report on the best places for US vacation rental homes in 2020. “It changes where people travel.” And this year, travel is all about visiting your home country.
The report, compiled by Rented Research in association with Weiss Analytics, examines 100 areas in the US for their vacation rental potential. It points out that people don’t want to travel far in the current pandemic. It suggests that a 2 to 5-hour drive within their home is the maximum tourists are willing to go this year.
The report also says that holidaymakers are looking for “genuine experiences” in a vacation rental. “High on the list are Instagram-worthy, outdoor locations, and the highest returns come from homes that enhance the guest experience.”
Best locations for US vacation rental homes
With this in mind, the report ranks 100 spots in the US. Other considerations include short-term rental potential in a location, the cost of a property and annual appreciation. These criteria are marked out of 100 points.
The Panhandle area in Florida turns out to the best place for US vacation rental homes this year. This popular seaside spot gets almost full marks with its total score of 98.7 just shy of the maximum 100.
South Jersey Shore in New Jersey comes in second place with 93.4 points. The Poconos, in the mountains in Pennsylvania, sits in close third position with 93 points.
Other Florida hotspots
The Sunshine State is America’s favourite place for holidays and welcomes millions of visitors annually. It’s therefore no surprise to see other locations in Florida as top spots for US vacation rental homes.
Siesta Key takes eighth position and the Miami Metro area comes in 19th place, making it a hat trick for Florida. Still within the top 50, are Tampa (26th), Orlando (36th) and Cape Coral (38th). Jacksonville stands in 51st place.
Florida rental hub
As well as strong vacation rental potential, Florida also offers excellent returns from buy-to-let properties. BRIC Group has an extensive portfolio of buy-to-let investments, all of which are located in prime areas. In addition, most properties come with a 2-year rental guarantee. Find out more about Florida rental property investment here.
(Source: Rented Research)