Average annual occupancy for 2br/2ba condo in Destin?

Question

I am looking into purchasing my first condo in Destin, FL for short term vacation rentals. How do I obtain the current market data for average annual occupancy for the Destin area?

Ricardo Hidalgo · Answer

Most of the gulf front options are equity plays. Most of my client that bought in 2023 are breaking even or slightly cashflowing with great entry on purchase for long term hold. Gulf front investments or the majority of condos will net 2-5% return and slowly increase each year. Appreciation is the most attractive thing about the miramar and destin market if you buy the correct property! Only some pockets of the beach are continuing to grow or more desirable than the majority of the market.

Andrew Steffens · Answer

I use AirDNA as a starting point then check that number against what units are doing on the booking sites (Airbnb/VRBO).  Basically AirDNA makes my thesis and I prove it against real time available data on those sites.

I am not an expert in Destin but Tampa area is a similar beach market and small condo's struggle as you are competing with hotels to an extent.  I would recommend connecting with a market specialist and maybe considering SFR for a better return.

Bob S. · Answer

CALL A REALTOR , GOOGLE , LOOK AT THE VRBO SITES,

Lake Lutes · Answer

Hey Judgery!! Happy to get you that info. I have an STR condo down here, and analyze STR deals for investors daily. I'll shoot you a message!

From a publically available standpoint, Air DnA and Pricelabs puts out great data for their paid products on nightly rate, occupancies, etc.