Being a property owner isn’t easy. Not only is buying a property a hefty investment, but sometimes, that investment just doesn’t pay off. This is a problem that experienced short-term rental property owners know all too well.
You need to be strategic about where you invest, and one way to do that is by choosing a city that's not only popular, but also primed for the short-term rental business. So, where should you set your sights?
These are the six best cities for your next Airbnb investment:
- Wilkinsburg, PA: Best for low property prices
- Marrero, LA: Best for monthly rental income
- Merriam Woods, MO: Best for outdoor activities
- Westwego, LA: Best for access to New Orleans
- Brooklyn, OH: Best for access to Cleveland
- Inkster, MI: Best for access to Detroit
While this article aims to list out the best cities for Airbnb in the US, choosing one can still prove to be a tricky task. Consider speaking to investment professionals at Summer to help you narrow down your focus and find the perfect investment for a short term rental property.
How We Selected the Best Places to Buy Airbnb
The cities on our list may surprise you. Most, if not all, of them aren’t the traditional “tourist hotspots”--in fact, none of them are in California, Florida, or Nevada, the big three when it comes to tourism.
Instead, these are the cities with the highest cash-on-cash return rate in 2024, according to data from Mashvisor. While these cities have lower average rental rates than properties in more popular destinations, these cities also have lower median property values, allowing investors to gain a faster return on their investments.
1. Wilkinsburg, PA: Best for Low Property Prices
Median Property Price: $136,140
Monthly Average Airbnb Rental Income: $2,568
Wilkinsburg might not be the first place that comes to mind when you think of tourism, but this hidden gem is quickly gaining traction. Nestled just a 20 minute drive away from Pittsburgh, Wilkinsburg offers all the perks of city life without the hefty price tag.
In Wilkinsburg, you'll find a charming historic district that just oozes with character, making it a hit with guests looking for a more cultural travel experience. Plus, the affordability of properties here means you can get more bang for your buck, even if the average price per day isn’t the greatest.
There’s a vibrant local arts scene, and numerous galleries and community events that keep the area buzzing, especially during the summer months. The town’s rich history is reflected in its architecture, with plenty of gorgeous “Instagrammable” spots that your guests would love to explore. And with easy access to Pittsburgh, your guests can take a quick drive to enjoy museums, sports events, and a fantastic food scene.
Another major draw is Wilkinsburg's sense of community. With friendly neighbors, quaint shops, and beautiful parks, Wilkinsburg has a cozy small-town feel. All these factors make it a top choice for your next Airbnb.
2. Marrero, LA: Best for Monthly Rental Income
Median Property Price: $227,771
Monthly Average Airbnb Rental Income: $4,742
Just across the Mississippi River from New Orleans, Marrero has a quieter, more laid-back atmosphere while still being in close proximity to the Big Easy's famous attractions. Properties here are much more affordable than in the heart of New Orleans, giving you a chance to invest in a growing market.
Outside of New Orleans, Marrero has its own fair share of attractions. It is home to the Barataria Preserve, part of the Jean Lafitte National Historical Park. Your guests can explore miles of trails, spot wildlife, and immerse themselves in the beauty of the bayou. Marrero also has a ton of local restaurants with authentic Creole and Cajun cuisine–definitely a must-visit destination for foodies looking for local flavors.
Marrero’s location makes it a win-win for guests who want the best of both worlds. They can enjoy the peaceful suburban feel of Marrero while being just a short drive away from the lively music, culture, and nightlife of New Orleans. This blend makes Marrero an attractive destination for travelers, and a great spot to invest in for an Airbnb host.
3. Merriam Woods, MO: Best for Outdoor Activities
Median Property Price: $245,260
Monthly Average Airbnb Rental Income: $3,051
If your idea of the Ozarks is based on the TV show, Merriam Woods is here to change that. This small town is the perfect tranquil vacation spot for guests looking to escape the hustle and bustle of the city.
Properties here are incredibly affordable, despite being only a 16 minute drive away from the popular tourist destination of Branson, a city known for its live entertainment, family-friendly attractions, and outdoor adventures. Merriam Woods is also a stone’s throw away from Rockaway Beach, a resort town known for its variety of watersports.
Another perk of Merriam Woods is its outdoor recreational opportunities. With nearby lakes, hiking trails, and golf courses, there's something for everyone. Whether you’re hosting an outdoorsy couple or a family looking for a summer adventure, Merriam Woods has it all.
This combination of affordability, proximity to tourist hotspots, and amazing scenery makes Merriam Woods a prime spot for an Airbnb investment.
4. Westwego, LA: Best for Access to New Orleans
Median Property Price: $287,780
Monthly Average Airbnb Rental Income: $3,784
Another city around 20 minutes from New Orleans, Westwego should be on your list for places to consider for your next Airbnb. Located on the banks of the Mississippi River, this charming town has a blend of Cajun culture and modern amenities that your guests will love.
Aside from driving down to enjoy the French Quarter’s lively music scenes and world-class restaurants, Westwego has attractions of its own. It has a famous Farmers & Fisheries Market, where guests can enjoy fresh seafood, local produce, and local handmade crafts. Westwego is also home to the Bayou Segnette State Park where guests of all ages can go fishing, boating, and hiking.
Like New Orleans, Westwego has a rich cultural heritage. It takes part in the famous Mardi Gras celebrations, and it also celebrates its own vibrant festivals and events, like the local Westbank Heritage Festival.
Like Marrero, the Jean Lafitte National Historical Park and Preserve is incredibly close by, offering educational programs and tours that allow visitors to explore the area’s natural beauty and history. If you’ve been wanting to invest in New Orleans but find the prices too inaccessible, then take a look at Westwego.
5. Brooklyn, OH: Best for Access to Cleveland
Median Property Price: $220,171
Monthly Average Airbnb Rental Income: $3,077
Forget Brooklyn, New York–Brooklyn, Ohio should be on your radar instead. Conveniently situated right outside Cleveland, Brooklyn has that small-town charm with all the conveniences of living near a big city.
Brooklyn has several parks and green spaces, which your guests will love to explore. More than that, it has a budding local dining scene. If the restaurants in the city are not to your guests’ tastes, Cleveland is only a short hop away, and is known for its eclectic food culture.
Brooklyn also has its fair share of history and culture, with the Brooklyn Historical Society Museum and Veterans Memorial Park. In Old Brooklyn, there is the Cleveland Zoo and the Jesse Owens oak at James Ford Rhodes High School.
But, its biggest advantage has to be its proximity to Cleveland. In just a short drive, your guests can explore Cleveland’s bustling downtown, visit renowned museums like the Rock & Roll Hall of Fame, or catch the Cleveland Guardians at Progressive Field. And, after a day of adventure, they can be home in the peace and quiet of Brooklyn in just 20 minutes.
6. Inkster, MI: Best for Access to Detroit
Median Property Price: $163,543
Monthly Average Airbnb Rental Income: $1,952
Inkster is a city that’s been flying under-the-radar. Eclipsed by the nearby city of Detroit, Inkster has a bevy of affordable properties that can set the stage for an impressive ROI, should you choose to invest.
Not only does Inkster have several parks, it also has a recreation complex with sports fields, walking trails, and playgrounds–perfect for a peaceful outdoorsy holiday. For those interested in local history, Inkster is home to The Malcolm X House and is just a short drive from the Henry Ford Museum of American Innovation.
However, while the barrier-to-entry in Inkster is affordable, it is still a developing city. Parts of the city have a higher-than-average crime rate, and property owners looking towards buying in Inkster should do their due diligence before investing.
Still, if you feel confident in purchasing a home in Inkster, your investment can pay off in a very short amount of time. With its affordability and location, it offers a very compelling opportunity for savvy investors.
Bottom Line
If you think it’s impossible to make money on Airbnb, think again. These six cities show you that you don’t have to spend a lot to gain a lot. While there are a multitude of popular destinations out there, usually the best chances for getting a great ROI on your property is by purchasing in places you least expect. So, do your research, trust your instincts, and watch your investment thrive!
