The Best Touristy Towns To Own Rental Property

Paulaandreaonline / Getty Images/iStockphoto

Imagine owning a rental property that generates a constant stream of passive income because it’s in so much demand with tourists. This can become your reality if you decide to buy property in a town that offers popular local attractions, such as adventurous theme parks, plentiful wineries or majestic mountains.

Find Out: How To Budget and Plan for a Vacation in 2021
Learn More: Cheap Places To Travel On $100 a Day Or Less

If you want to invest in a rental property, the next step is to find the most worthwhile places to buy. To determine the best touristy towns to own rental property, GOBankingRates used U.S. News & World Report’s “Best Places to Visit in the USA” rankings, “Best Family Vacations in the USA” and “Best Romantic Getaways” to create a list of 47 top vacation destinations in the U.S. These touristy towns then were analyzed in terms of median monthly rental revenue and average daily rental rate for properties in each place, sourced from AirDNA. The ranking was developed based on cumulative scores.

With growing platforms such as Airbnb and Vrbo, it’s easier than ever to find renters for your properties. Overall, there are plenty of U.S. cities where you can own a lucrative investment property.

Last updated: June 24, 2021

Hilton Head, South Carolina, lighthouse at dusk.

25. Hilton Head, South Carolina

Attraction(s): Coligny Beach Park, Driessen Beach Park, approximately 25 championship golf courses
Median monthly rental revenue: $3,282
Average daily rental rate: $233

Travel Prep: 10 Financial To-Dos Before Going on a Trip

Fort Sumter in Charleston South Carolina

24. Charleston, South Carolina

Attraction(s): Fort Sumter and Fort Moultrie National Historical Park, Aiken-Rhett House Museum, The Battery
Median monthly rental revenue: $3,263
Average daily rental rate: $235

Check Out: 40 Pandemic Airport Secrets Only Insiders Know

23. Ocean City, Maryland

Attraction(s): Ocean City Boardwalk
Median monthly rental revenue: $3,200
Average daily rental rate: $249

Heading Out? 10 Credit Cards To Consider for Travel Rewards

22. Sedona, Arizona

Attraction(s): Uptown Sedona, Red Rock State Park, Chapel of the Holy Cross, Bell Rock
Median monthly rental revenue: $3,920
Average daily rental rate: $239

Ouch: 30 Locations With the Priciest Vacation Rentals

Great Smoky Mountains National Park Scenic Sunrise Landscape at Oconaluftee Overlook between Cherokee NC and Gatlinburg TN.

21. Gatlinburg, Tennessee

Attraction(s): Great Smoky Mountains National Park, Ober Gatlinburg, Ripley’s Aquarium of the Smokies, Dollywood
Median monthly rental revenue: $4,249
Average daily rental rate: $232

Beach and palms trees in the morning atSugar Beach Kihei Maui Hawaii USA.

20. Kihei, Hawaii

Attraction(s): Maui, Wai’anapanapa State Park
Median monthly rental revenue: $3,263
Average daily rental rate: $285

19. Bar Harbor, Maine

Attraction(s): Acadia National Park
Median monthly rental revenue: $3,750
Average daily rental rate: $263

Destin beach in florida ar Henderson State Park USA - Image. — Destin beach in florida ar Henderson State Park USA – Image.

18. Destin, Florida

Attraction(s): Henderson Beach State Park, Destin Harbor Boardwalk, Crab Island, Big Kahuna’s Water and Adventure Park
Median monthly rental revenue: $3,671
Average daily rental rate: $271

17. West Yellowstone, Montana

Attraction(s): Yellowstone National Park
Median monthly rental revenue: $3,158
Average daily rental rate: $298

16. Sanibel Island, Florida

Attraction(s): Bowman’s Beach, Captiva Island
Median monthly rental revenue: $3,504
Average daily rental rate: $284

Napa Valley wine country mountain hillside vineyard growing crops for grape harvest and winery winemaking.

15. Napa, California

Attraction(s): Wineries, Napa Valley Wine Train, Russian River
Median monthly rental revenue: $3,200
Average daily rental rate: $303

14. Lanai City, Hawaii

Attraction(s): Lanai Island, Puu Pehe overlook, beaches
Median monthly rental revenue: $4,100
Average daily rental rate: $309

13. Steamboat Springs, Colorado

Attraction(s): Yampa Valley, Yampa River Core Trail, Strawberry Park Hot Springs, Old Town Hot Springs
Median monthly rental revenue: $3,636
Average daily rental rate: $362

12. Key West, Florida

Attraction(s): Florida Keys, Duval Street, Ernest Hemingway Home and Museum, abundant fishing
Median monthly rental revenue: $4,855
Average daily rental rate: $350

A beautiful day at the Sand Harbor area of Lake Tahoe.

11. South Lake Tahoe, California

Attraction(s): Lake Tahoe, ski resorts
Median monthly rental revenue: $5,464
Average daily rental rate: $365

Going-to-the-Sun Road, Lake, Midwest USA, Montana - Western USA, Plant. — Going-to-the-Sun Road, Lake, Midwest USA, Montana – Western USA, Plant.

10. West Glacier, Montana

Attraction(s): Glacier National Park
Median monthly rental revenue: $5,711
Average daily rental rate: $355

A red car vehicle touring the scenic mountain highways.

9. Springdale, Utah

Attraction(s): Zion National Park, the Narrows
Median monthly rental revenue: $6,605
Average daily rental rate: $328

8. Jackson, Wyoming

Attraction(s): Jackson Hole, Grand Teton National Park, Teton Village
Median monthly rental revenue: $5,127
Average daily rental rate: $409

Epic shot of The Vineyard Island from our boat in Martha's Vineyard. — Epic shot of The Vineyard Island from our boat in Martha’s Vineyard.

7. Barnstable, Massachusetts

Attraction(s): Cape Cod, beaches, John F. Kennedy Hyannis Museum
Median monthly rental revenue: $5,117
Average daily rental rate: $427

Sonoma California Vineyards Near Sebastopol California

6. Sonoma, California

Attraction(s): 425-plus wineries, Taylor Mountain Regional Park and Open Space Preserve
Median monthly rental revenue: $5,473
Average daily rental rate: $480

5. Edgartown, Massachusetts

Attraction(s): Martha’s Vineyard, Edgartown Lighthouse, Oak Bluffs
Median monthly rental revenue: $5,283
Average daily rental rate: $529

Skiers on Telluride's Gold Hill with the majestic Wilson Massif in the background. — Skiers on Telluride’s Gold Hill with the majestic Wilson Massif in the background.

4. Telluride, Colorado

Attraction(s): Rocky Mountains, ski resorts, film festival
Median monthly rental revenue: $6,100
Average daily rental rate: $512

A pair of fast skiers rocket down a groomed trail on Ajax Mountain at Aspen Colorado.

3. Aspen, Colorado

Attraction(s): Ski resorts, Maroon Bells, Independence Pass
Median monthly rental revenue: $5,200
Average daily rental rate: $581

Smoke and fire rising from Lava Vent at Halemaumau crater, Volcanos National Park, Hawaii at sunset.

2. Kilauea, Hawaii

Attraction(s): Kauai, Kōke’e State Park, Wailua River State Park
Median monthly rental revenue: $6,190
Average daily rental rate: $699

Bixby Bridge (Rocky Creek Bridge) and Pacific Coast Highway at sunset near Big Sur in California, USA.

1. Big Sur, California

Attraction(s): U.S. Highway 1, a designated American National Scenic Byway through the area; Julia Pfeiffer Burns State Park; Pfeiffer and Sand Dollar beaches
Median monthly rental revenue: $18,000
Average daily rental rate: $957

More From GOBankingRates

Sophia Zolan contributed to the reporting for this article.

Methodology: GOBankingRates determined the best touristy towns to own rental property by using U.S. News & World Report’s “Best Places to Visit in the USA” rankings, “Best Family Vacations in the USA” and “Best Romantic Getaways” to create a list of 47 top vacation destinations in the U.S. These touristy towns then were analyzed in terms of median annual rental revenue and average daily rental rate for properties in each place, sourced from AirDNA. These two factors were then scored and all 47 places were ranked against each other based on their cumulative score. All data was collected on and up to date as of March 30, 2021.

This article originally appeared on GOBankingRates.com: The Best Touristy Towns To Own Rental Property