Las Vegas Airbnbs Among Most Profitable In Country

If you own property in Las Vegas, you might want to consider renting it out once in a while. A new study has revealed the most profitable cities in the country for Airbnbs, and Las Vegas AirBnbs came in very high on the list.

After the Coronavirus pandemic, the Las Vegas housing market skyrocketed. The median price of single-family homes increased more than 50 percent by May of 2022, according to ricelasvegas.com. In the same year, Las Vegas saw almost 100,ooo new residents move to the state, fox5vegas.com reported. Clearly, it was a seller's market as buyers came in droves to secure property.

And though many people moved to Las Vegas to live, others bought property to turn them into Airbnbs. A smart move, as Las Vegas is one of the most popular travel destinations in the world. And this latest study has revealed just how lucrative an Airbnb can be in the Las Vegas Valley.

The study, which was done by personal finance experts Wealth of Geeks, analyzed cities all over the country. And found the average nightly rate of an Airbnb in that location.

Then they took data from the US Bureau of Labor Statistics to find the average weekly wage in the same city. With this data, they were able to determine what percentage of their weekly wage someone in Las Vegas can earn by owning an Airbnb.

Las Vegas came in at number five on the list. With our average Airbnb costing $312 per night. The study also revealed that the median weekly wage in Las Vegas is $724. Making the average nightly AirBnb profit equivalent to 43.1% of the owner's weekly income.

My neighbor in the Paradise area of Las Vegas bought the house next door to mine in August of 2022. And immediately turned it into an AirBnb. In the summertime, that house has booked a different group of people all four weekends.

In the slow season, maybe two weekends a month are booked. And I've never seen anyone renting the place during the middle of the week at any time of the year.

That might sound like a bad investment, but let's do the math. Even on slow months, if the owner has a minimum of a three-night booking, and books two weekends a month, he's bringing in $1,872 per month. During the months that book all four weekends, he's doing a four-night minimum, which is $4,992 per month.

And I know that this particular property was purchased outright with cash, as many Californians could afford to do after selling their much more expensive homes in the Golden State. So there's no mortgage to pay on the AirBnb either.

The best part about Las Vegas is that there aren't a lot of slow months. We have stuff going on almost all year round. And the passive income Airbnb owners get from their properties reflects this. Airbtics.com reports that a 4-bedroom house in the Paradise area (same area where the neighbor's house is) of Las Vegas brings in an average of $80,102 per year.

This, undoubtedly, is because of the events we have in Las Vegas that brings a lot of people. Those are the weekends Airbnb owners can really cash in. Winter is an especially lucrative time for local Airbnb owners, as Vegas ranks high as a destination location for the season.

This video compares three Airbnbs in Vegas and shows the price for each. You can see that the host, Norma, talks to the owner of the second property. He indicates that his average price is $100/night, but that on EDC weekends, he has gotten up to $1000/night!

Bottom line: if you're looking for a lucrative investment, we all know real estate is sound. And even more so if you have the means to turn your property investment into one of the many Las Vegas Airbnbs that tourists look for when they come to visit.

If you're looking to invest in other cities, Arizona is a good place to consider. Scottsdale, Tempe, Phoenix, Glendale and Chandler all landed in the top ten on the Wealth of Geeks list. At numbers one, two, four, six, seven and eight, respectively. Number three is Charleston, South Carolina. Virginia Beach, Virginia was number nine. And North Charleston, South Carolina was number ten.

Unlike many metropolitan places, cities surrounded by desert have a ton of unique features that make them perfect for photographs. Wildlife, interesting trees and plants. And have you ever seen a desert sunset? Exactly.

So it's no surprise that desert regions are constantly showing up in photos that land on Instagram. And not just professional ones either. That's the great thing about a great landscape. You don't have to be a professional shutterbug to land a breathtaking photo.

Compiled by Betway, the list analyzed several desert destinations in the United States. They considered factors, including number of Instagram photos posted of the destination, and ranked the cities accordingly. Here's what they found.

First of all, Arizona killed it in this list. Which isn't surprising. They have some of the most gorgeous scenery that is perfect for photos. Of the top 10 cities on the list, four of them are in Arizona. Including Sedona (with 406,681 Instagram photos), Scottsdale (with 306,599 photos), Cottonwood (with 169,040 photos) and Bisbee (with 142,315 photos). Which came in at numbers two, three, five and 10, respectively.

Two cities in the top 10 came from Texas. Marfa (at number three with 367,440 photos) and Amarillo (at number six with 216,060 photos). And two from Colorado. Grand Junction (at number five with 270,101 photos) and Palisade (at number seven with 207,027 photos).

The number one spot on Betway's list was Joshua Tree, California, with a staggering 2,266,188 Instagram photos. Also not surprising. After all, it was the subject of an entire album done in 1987 by U2. Who made headlines this year when they opened the iconic Vegas Sphere. Coincidence? Perhaps. But the landscape has always been worthy of anyone with a lens.

And the final spot on the list goes to our own desert oasis in Southern Nevada. At number nine with 161,877 photos, it's none other than beautiful Boulder City. With so many wildlife species, the Colorado River, and Hoover Dam, Boulder City appeals to photogs of all skill levels. And in these photos, it's easy to see why. -Wendy Rush, 96.3KKLZ

Did you hear about that concert video Billy Idol did at the Hoover Dam? Check it out.

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