There is no place quite like Idaho, and this uniqueness represents profitable opportunities for vacation rentals. Sun Valley, Coeur d’Alene, and McCall might be the first places one thinks about when reading ‘Idaho vacation properties,’ but with the growth in the Boise metro area comes an awareness that brings both business and tourism. Property owners in the Treasure Valley looking to invest in a burgeoning market should think about turning that home or accessory dwelling unit into a vacation rental.
Here, we explore the short-term rental market and its potential for Treasure Valley home owners.
Idaho Tourism released 2017 statistics that claimed 34.3 million trips were made to Idaho during that year. Of these, 40% included overnight stays, with an estimated $3.3 billion spent by travelers. As more and more people come to the region to visit or to stay, these numbers represent earned income for those in the Valley prepared to invest in the vacation market.
Online platforms have popularized and simplified renting one’s space in the short-term. Through applications like Airbnb, property owners can share and market their homes, book guests, and receive ratings and reviews. The ease of platforms like this create opportunities for a variety of property owners to seriously compete in the vacation rental arena. With the Treasure Valley becoming an increasingly popular destination, these vacation rentals offer travelers an alternative to monotonous hotel rooms.
Airbnb lists over 300 homes in the Boise area available for rent, with spaces ranging from the entire house to a shared common area. Even parking for an RV can be marketed through these online platforms.
Vrbo, a site for vacation rental listings like Airbnb, shows 360 properties available in Boise alone for short-term rent. Average nightly prices spike in June, July, and November, at a high of $148, with the yearly average falling at around $140.50 a night. Should a renter book out their space for an entire year, that’s revenue of over $51,000.
Marketing Idaho’s Vacation Rentals
The Treasure Valley’s unique blend of the urban and the rural influences the creation and marketing of colorful, personal properties that are definitively Idaho. From garden yurts to quiet downtown cottages, property owners focus on what makes a Treasure Valley experience different than what vacationers may find in other states. Recreation and wildlife surround the safe and inviting Boise nightlife that often draws so many renting travelers. For potential hosts, find what makes Idaho uniquely Idaho when marketing your properties, as one Boise resident did with a famously large potato.
Hospitality is one avenue of home ownership with potential for revenue that may have just started to be tapped. Treasure Valley residents, you may or may not like that so many people are coming to our state, but at least you can profit from it.
We all have personal definitions for what Idaho means to us. Whether you are a recent transplant or a third-generation native, Idaho represents a unique combination of experiences. What makes Idaho different for you? What would you like visitors to experience when they come to the state, and how would you translate that in a rental property? Please find 208.properties online and share your thoughts, comments and experiences. We can’t wait to hear from you.
By: Jake Nuttall