Looking for good data for STR investment in S Florida

[Barbara Chaney]

Hi everyone, 

We're looking at properties in South Florida for a possible STR. Tough market for sure, but we have time and wanted to be within driving distance for our first property. I'm trying to get data and looking for good sources.

AirDNA is telling me avg occupancy in Ft Lauderdale for STRs is 61%, but I'm kind of skeptical. Listings I see on Airbnb don't look even 30% booked after the season. AlltheRooms says 53% for FtL. I also found InsideAirbnb.com and their numbers are worse... 31% estimated occupancy. They have a negative stance on Airbnb though.  

I'm sure the numbers are an average, but want to make sure I'm not missing anything. Have you guys found better sources or you do you just conservatively guesstimate based on AirDNA? Any help would be appreciated. Thanks.

[Michael C.]

@Sofia Sharkey

I’ve also found AirDNA to be inaccurate. One important item to know is many of these websites ‘scrape’ data from Airbnn, VRBO, etc using automated program. The analysis is inherently inaccurate for many of the reasons others have stated and I won’t repeat. We’ve found two solutions - 1) find local operators and ask how their properties are performing. You’ll be surprised at how people are willing to help and 2) find a data provider that using ‘first party data’ to generate rental estimates. Keydata provides this service. It’s more expensive but I’ve found it to be much more accurate.

I hope this helps!