As far as locally, here is a Flagstaff Area Performance Report report provided by Evolve.
January 18, 2019
Original Source: Vacation Rental Performance Report: Flagstaff Area
By: Lauren Kaye
As Arizona’s mountain getaway, Flagstaff offers a welcome change to the sweltering urban hubs of Phoenix, Scottsdale, and Tucson. Cooler temperatures and four-season mountain recreation make Flagstaff a fantastic place to own a second home and run a short-term rental.
When you’re not using the property yourself, you can rent it out to visitors. The area attracts people from across the Southwest who are looking to escape the heat as well as out-of-state tourists visiting the nearby attractions like Sedona’s red rocks and Grand Canyon National Park.
Our Vacation Rental Performance Report contains key data on rental income, occupancy rates, booking windows, and vacation rental inventory to show just how great the potential is in Flagstaff.
Download it to see why this destination is a great place to start a vacation rental property.
How Much Can You Make With A Vacation Rental In Flagstaff?
Rental income in Flagstaff varies based on the size of your property, the number of bookings you make per year, and your nightly rate. However, we surveyed active listings to determine what you can expect if you perform better than half the market (50th percentile) and better than 75% of the market (75th percentile).
These benchmarks were established to show roughly how much you can make if your property is average and how much more you can make if you’re at the top of the market.
A one-bedroom property makes $14,536 in yearly revenue at the 50th percentile. That jumps up to $21,237 if you perform at the 75th percentile.
With an average occupancy rate of 74% year-round, one-bedroom rentals are clearly in high-demand among travelers and can provide a steady source of rental income.
Three-bedroom properties generate $30,531 in yearly revenue at the 50th percentile. That increases to $42,169 if you outperform the majority of the market at the 75th percentile.
Three-bedroom homes are one of the most common property sizes in Flagstaff, and while the occupancy rates are lower than one-bedrooms (60% on average), the higher nightly rates generate more rental income revenue overall.
Download the full report to see how much you can earn with different property sizes.
What You Need To Perform At The Top Of The Market In Flagstaff
If you want to go past the average and become one of the top-performing properties in the market, you need to understand what travelers are looking for when they book vacation rentals in Flagstaff.
Our experience booking Flagstaff vacation homes has revealed five top amenities you need to compete in this market:
- Furnished outdoor patio or deck
- Hot tub
- Gas or wood-burning fireplace
- Mountain views
- Updated kitchen
Travelers who visit Flagstaff are looking for an escape from the famed Arizona heat, and they want to book a vacation rental that feels like a cozy cabin in the woods. Views of Arizona’s highest peaks, hot tubs to relax in after skiing or hiking, fireplaces with rustic charm, and outdoor spaces that make it easy to enjoy the great outdoors are in high demand for this area.
If you are interested in purchasing a vacation home, give us a call! (928) 440-0418. Or email us [email protected].