Fort pierce: Short term rental prospects

10 Replies

I am interested in a property in Fort Pierce area.  When I started, I was looking to buy and hold but now I also want to evaluate the short terms rental prospects in the area.  The property is in C3 zone of fort pierce. Close to fort pierce downtown. 

High rental remand? 

Decent tourist destination?

Ft Pierce is not really much of a vacation destination.

Yes, I would agree with Wayne. Although, it does have some of the cheapest waterfront properties in Florida. 

Thanks @Rickey Rodriguez & @Wayne Brooks   .  

Some tourists or no tourists? Any demand for short term rentals? 

Enough accommodation for existing demand, whatever it may be?

What is the economic driver in the area? Industry? Source of employment?

Looking at the attached stats, seems like there is a demand for short terms rentals. What is driving this demand? 

What is driving the demand, you ask.  Airdna.co is 

Take it with a grain of salt.  Actually take it with a couple of grains of salt, a lime wedge and a shot of tequila. 

Look at your local motels and look at your AirBnb ads and see how much occupancy they have.

@Paul Sandhu  

For a newbie like me this past well above my head like a rocket in the sky, while I was enjoying the tequila with a grain of salt. ;-)

Which one did you mean?

1. Airdna is fudging the numbers? 

2. People prefer Airbnb relative to motels?  Traffic is going to AirBnb? 

3. AirBnb has more marketing value? More advertising power?

Do you agree that Fort Pierce is not a short term rental market?

@Gaurav A. What attracted you to Ft. Pierce? What attracts you to STR? As a newbie, what makes you want to start with it, and why there? Your answers might get you different responses. Identify potential hosts in the area, read their descriptions, who are they trying to appeal to, write up an inquiry and ask them straight out what their numbers are.

Good luck.

Originally posted by @Gaurav A. :

@Paul Sandhu 

For a newbie like me this past well above my head like a rocket in the sky, while I was enjoying the tequila with a grain of salt. ;-)

Which one did you mean?

1. Airdna is fudging the numbers? 

2. People prefer Airbnb relative to motels?  Traffic is going to AirBnb? 

3. AirBnb has more marketing value? More advertising power?

Do you agree that Fort Pierce is not a short term rental market?

 1. Airdna is not intentionally fudging their numbers, but their numbers tend to be on the more optimistic side.  The realistic side is going to be less than what Airdna says.

2. True.  But when there isn't much traffic, there isn't much going to people doing Airbnb.

3. Airbnb has more appeal than hotels.

Last question, I do not have an answer.

Personally, I would only do a STR that is within 30 minutes of my house. My furthest STR is 7 minutes away, and I have 22.

What is helping increase the interest in STR is Hutchinson Island, which is a 22 mile barrier island the runs from Stuart, Fl to Ft. Pierce. There are tons of rentals on the island and for those who have been to and know the island they will continue to come back. Ft. Pierce as a city has a bad rep, but that is really only a small nucleus in alphabet city. What the area currently lacks is decent paying jobs but that will change in 2-3 years. Changes are coming!

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