Economic Drivers of Short Term Rentals

What is happening? U.S. vacation rental revenue is estimated to be  $17.7B in 2023. The number of listings are also increasing to 1.3 million listings this year, up 20% from 2019.

Why is this important? The driver of this economic growth is owners with multiple units. It is estimated that short term rentals yield 30% more profit than long term leases.

How will this be important? There remains gaps in taxation collection, voluntary tax agreements are difficult to audit, and noise and trash issues are driven by local issues.

Route Fifty | 5 Things Local Governments Need to Know About Short-term Vacation Rentals