Potential STR Market - Raleigh, Durham
Hi BP fam!
We are a couple looking to potentially invest out of state for STRs to offset our W-2 income, and are wondering if Durham or Raleigh area is a good market for short term rentals?
Any advice or insights would be appreciated!
Most Popular Reply
Hi there!
I work in the PM industry in this area (we focus on long term but interact plenty in all directions with the market), and here's my take on what we're seeing:
It remains a pretty solid market for short-term rentals right now. Average occupancy sits around 55%, with higher numbers in the spring and fall, and daily rates usually land in the $170 range. Annual revenue tends to fall between $23K–30K for typical listings, though top properties can pull in quite a bit more. Demand stays steady thanks to the universities (Duke, UNC, NC State), Research Triangle Park, and a good flow of family and business travelers.
There's a bit of a dip in winter, but it's not too dramatic. The market is growing (listings jumped about 13% over the past year) so standing out with good photos, solid amenities, and a great guest experience is important. Regulations are pretty manageable overall, but it's worth checking city-specific rules and HOA restrictions before jumping in.