Every traveler falls in love with the natural beauty of Marco Island, Florida. It is one of the most incredible spots on the planet for a wonderful holiday. Marco Island is the largest of ten thousand islands in the Gulf of Mexico off Florida’s southern coast. So, it’s logical that Airbnb demand should be high in the area.
However, when looking for a property, it’s always a good idea to do your homework and carefully select the ideal property based on cost, area, and other important factors. If you want to invest in Airbnb Marco Island Florida, you should understand the benefits, what you can anticipate, and what you should be aware of before making a purchase.
Marco Island is home to a thriving real estate market since it is a popular destination and an excellent investment location. People come from all over the world to buy property on Marco Island, offering many options for investors.
Florida Housing Market: 2022 Forecast
In 2021, the Florida real estate market enjoyed an exceptional year, with record-low interest rates, the fastest yearly increase in single-family house values and rentals, low foreclosure rates, and the largest number of home sales in 15 years. As a result, homeowners in 2021 witnessed a market in which their homes sold quickly and regularly above selling prices, as multiple home buyers competed for the winning bid.
The year 2022 will continue to be a seller’s market, with property values rising by double digits percentage points. At the same time, relatively stable prices, low mortgage rates, higher savings, and a stronger job market all help to make homeownership more affordable to a broader range of prospective purchasers.
According to realtor.com’s latest housing market estimate, the growth in home prices will decrease more in 2022 but actual prices will continue to increase. As a result, buyers are expected to become more creative as house costs continue to take a larger amount of their paychecks.
Florida remains one of the leading US vacation and relocation locations for individuals seeking a new place. United Van Lines recently released its 45th Annual National Movers Study, which listed Florida as one of the top five states where Americans planned to relocate in 2021. According to the report, 39% of people who migrated did so for retirement purposes, 27% for the lifestyle, and 22% to be closer to their family.
As priorities change in response to the ongoing pandemic, we anticipate that the migration trend will continue in 2022. Many are relocating to smaller and medium‐sized towns and cities, which represent the majority of Florida’s growing rental markets. As a result, real estate investors looking to buy in Florida will be able to find an affordable home and quickly rent it out.
If you are a first-time real estate investor or live out of state, you can discover more about 2022’s finest rental markets in Florida. In this article, we’ll look at why it’s a good idea to buy an investment property in Marco Island real estate market.
Airbnb Marco Island Florida: Why Should You Invest?
In 2022, purchasing an Airbnb income property in Airbnb Marco Island Florida appears to be more profitable than in previous years, as analysts believe the Sunshine State is expected to outperform many other states in the United States. So if you’ve been debating whether or not to invest in this market, now is the moment to take the plunge. Here are some of the reasons:
Florida recorded the second-highest population growth in the country last year. From July 1, 2020, to July 1, 2021, the state welcomed 211,196 new residents. The numbers outpaced the nation’s total growth rate, which was barely 0.1%, the lowest rate ever recorded by the U.S. Census Bureau. As more Americans relocate to Florida, home values go up, leaving some priced out of the market with little choice but to rent.
Economists predict that by the end of 2022, the number of positions in Florida will return to pre-pandemic levels. Wages are rising rapidly due to more workers leaving low-wage occupations for higher-paying ones. Although the most attractive rental markets in Florida for traditional rental may not be as expensive as in other states, the strong return on investment and positive cash flow are well worth it.
Cost of Living
Although being one of the most prominent vacation and retirement destinations in the United States, Florida remains cheap. The state’s average living costs are less than 1% higher than the national average. Individuals who live in expensive locations are expected to relocate to Florida if they can (e.g., remote workers), though it does not imply that they will purchase a home. As a result, buying rental property in Florida to house these new inhabitants is an excellent investment opportunity.
Quality of Life
Florida is recognized for many things, including its warm temperature, exciting culture, incredible food, and vast diversity. The pleasant weather, with temperatures ranging from 60°F to 81°F, lets residents and visitors take advantage of the state’s abundant recreational opportunities.
Related: Top 10 Best Rental Markets in Florida
Airbnb Marco Island Florida: What You Should Know
Here are a few things to consider before investing in an Airbnb Marco Island:
Discover More About Marco Island
Before you decide to invest in Airbnb Marco Island Florida, learn everything there is to know about the world-class resort island. The pleasant weather and Florida sunshine are among the nicest parts of living here, and there are several outdoor recreational opportunities. In addition, the island’s population nearly doubles during peak season, and the island itself provides excellent dining and retail experiences.
Determine How Much You Can Afford
You should know what you can finance and what property style would meet your needs, particularly if you are a first-time buyer. For example, if you want to buy a Marco Island condo, there are several alternatives to select from and vacant plots that you can build.
Buying on Marco Island
Real estate investing here is a wise investment because people worldwide come here to either enjoy a luxurious vacation or to see their own vacation house. Furthermore, you can lease out your property for the majority of the year, giving you a significant additional Airbnb rental income.
Stunning Views to Enjoy
Whether you choose to live on Marco Island forever or rent out your Airbnb Marco Island Florida for the majority of the year, residents may enjoy some of the most beautiful scenery in the world. It’s a popular tourist destination, and purchasing real estate here might be a wise investment.
Although it is a good “fluffy” statement, don’t disregard it. There are beach views, ocean views, and in-land/garden views to choose from. However, it’s worthwhile to consider how much you’re willing to pay for a waterfront property on Marco Island.
Broad Range of Properties
You can choose from a variety of fantastic property types, ranging from a luxury Airbnb Marco Island Florida property to a large family house. It’s a safe property market – more so than anywhere else in the area – with great returns on investment. The island is in high demand because of the diversity of properties available.
Making Money in Real Estate Made Easy
The Marco Island real estate market is excellent for buyers and sellers, making it simple to buy and sell a property. Because there are constantly prospective purchasers, selling your property will be easy. In addition, several buyers purchase property for investment reasons since Marco Island is a prospective, popular, and elegant living environment for all.
Related: What Are the Best Ways to Make Money in Real Estate as a Beginner?
Ideal for Retirement
You can buy a Marco Island condo particularly for your retirement and see the value of your property increase year after year. You can rent out the Airbnb Marco Island Florida property for extra rental revenue and let the property pay for itself over time. Then, when the time comes to relocate, you’ll have a home ready for you and your family in one of the most desirable areas in the country.
How to Choose the Best Airbnb Marco Island Florida Property
Now that you know how profitable it would be to own an Airbnb in Florida, specifically in Marco Island, you need to know how to choose the ideal short term rental property. Unless you employ a real estate investment tool like Mashvisor, the selection process can be difficult and time-consuming. Here’s how our platform can assist you.
Get an Overview of Airbnb Marco Island Florida Properties
If you are unfamiliar with the local market, you may be interested in learning which neighborhoods in the city offer the biggest income potential for your short term rental strategy. First, enter your search criteria (for example, “Marco Island, FL”) into Mashvisor’s Property Search function. Then, configure the heatmap to show which locations are hot based on the following criteria:
- Traditional Cash on Cash Return
- Airbnb Cash on Cash Return
- Traditional Rental Income
- Airbnb Rental Income
- Listing Price
- Airbnb Occupancy Rate
Based on the criteria you provide, the top-performing regions will be highlighted in green, while the comparably worst-performing locations will be shown in red. You can also specify whether the search results and heatmap should update when you move the map to other places. You can easily find the neighborhood that will fit your investment objectives using the heatmap.
We discovered the most recent key data for the Marco Island rental market in 2022, primarily for short term rentals, using Mashvisor’s Property Analysis Report:
- Median Property Price: $1,447,877
- Average Price per Square Foot: $625
- Days on Market: 89
- Airbnb Rental Income: $4,311
- Airbnb Cash on Cash Return: 1.69%
- Airbnb Daily Rate: $277
- Airbnb Occupancy Rate: 62.69%
- Walk Score: 23
Related: Investment Property Search Features
Mashvisor Airbnb Calculator
When you find a property that piques your interest, tap on it to see its listing page. You will not only discover basic information such as the price, square footage, and summary on this page. Moreover, you will also have access to our Airbnb profit calculator, which provides complete financial analysis on the property mentioned above based on comparable houses in the region. It also bases its estimations on data gathered from Airbnb and other short term rental platforms.
Our investment calculator calculates vital metrics such as:
- Airbnb Rental Income
- Airbnb Cash Flow
- Airbnb Cash on Cash Return
- Airbnb Cap Rate
- 10-year Investment Payback
You can also change the rental revenue, occupancy rate, and expenses, and our calculator will take them into account and produce a more realistic prediction. Using the tool can assist you in determining whether the property is worth investing in or whether you need to adjust your costs and revenues to get the desired returns.
You can book a demo with our team to learn more about how Mashvisor can help you identify successful investment properties.
Marco Island is not only a popular destination for real estate investors, but it is also a popular vacation destination for high-end vacationers. The above factors make the location excellent for anyone looking to purchase their own piece of real estate, whether as a primary residence or for investment purposes.
If you wish to invest and broaden your real estate portfolio, enter any city on our Property Search page to obtain a fast overview of the available properties for sale in the region. The heatmap can be activated to emphasize the areas with the highest rental revenue, cash on cash returns, or occupancy rates.
When you click on a property that interests you, our listing page displays not just the property information but also our extensive analytics and calculator. The tools will assist you in analyzing the property and determining whether it is worth investing in.
We show properties for sale that are also listed on the MLS, and our evaluations are based on active Airbnb listings. Start your 7-day free trial with Mashvisor right now by clicking here!