Airbnb has seen explosive growth the last few years, even as some cities have fought to manage short-term rentals that they fear are overtaking communities. Still, homeowners and investors are cashing in.
Florida is Airbnb’s hot spot, finds a new study released from IPX 1031, a 1031 exchange resource. For homeowners or investors looking to rent out housing on a short-term basis, the state is home to seven cities with the most per capita rentals through Airbnb. Miami Beach has the most, topping IPX 1031’s list with more than 3,400 Airbnb listings per 50,000 people. Kissimmee, Fla.—near Walt Disney World Resort and Universal Studios—came in at number two.
Airbnb has bloomed into a multibillion-dollar company since launching in 2008. The company allows investment property owners to rent out their homes, apartments, and condos. Some cities haven’t been happy about the growth of short-term rentals in their communities.