Top 10 PNW STR Markets to invest in 2025!!

Top 10 PNW STR Markets to invest in 2025!!

Realtor · Portland, OR · Member since 2022 · 57 posts · 39 votes

As a Pacific Northwest native, I've seen firsthand how the region's unique blend of natural beauty, vibrant cities, and year-round attractions make it an incredible place for short-term rental (STR) investments. If you're looking to capitalize on the market in 2025, here are the top 10 cities in the PNW that are yielding the best returns on investment:

1. Seattle, WA

  • Median Home Price: $820,000
  • Average Daily Rate: $200
  • Occupancy Rate: 75%

2. Portland, OR

  • Median Home Price: $485,000
  • Average Daily Rate: $180
  • Occupancy Rate: 70%

3. Spokane, WA

  • Median Home Price: $345,000
  • Average Daily Rate: $150
  • Occupancy Rate: 68%

4. Tacoma, WA

  • Median Home Price: $450,000
  • Average Daily Rate: $160
  • Occupancy Rate: 72%

5. Bend, OR

  • Median Home Price: $560,000
  • Average Daily Rate: $190
  • Occupancy Rate: 65%

6. Seaside, OR

  • Median Home Price: $475,000
  • Average Daily Rate: $175
  • Occupancy Rate: 70%

7. Olympia, WA

  • Median Home Price: $400,000
  • Average Daily Rate: $155
  • Occupancy Rate: 67%

8. Eugene, OR

  • Median Home Price: $410,000
  • Average Daily Rate: $160
  • Occupancy Rate: 68%

9. Salem, OR

  • Median Home Price: $385,000
  • Average Daily Rate: $150
  • Occupancy Rate: 65%

10. Ashland, OR

  • Median Home Price: $600,000
  • Average Daily Rate: $210
  • Occupancy Rate: 72%

These markets are thriving with strong tourism, a variety of attractions, and a growing demand for STRs. If you're interested in learning more or need help navigating the best STR opportunities in these areas, I'd love to connect! As a PNW native, I'm passionate about helping investors make the most out of the unique markets in this beautiful region.

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Andrew SteffensBusiness Member
Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
1y

Seattle Yield = 6.23%, Portland = 9.48%, Spokane = 10.79%, Tacoma = 9.34%, Bend = 8.05% Yield

These average yields seem very low, typically 12% ends up about breakeven when using any type of financing.  These markets seem like on average, negative cashflow.  Am I missing something?

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  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    1y

    Hmmm. So I am not going to agree on some. No way I would buy in Seattle. Too tenant (yes tenant) friendly and I wouldn't want to lose my house. Portland is similar.

    Bend has a ban on STRs in the much of the city. Plus licensing is crazy expensive.

    There are issues all over the place here and getting anything to cash flow is a tough row to hoe. Seattle is an excellent example. If you make the 75% at $200 on $820,000, that is only $54,000. You are looking at about that much on P&I alone.

    My 2 cents.

  • Member since 2022 · 529 posts · 413 votes
    1y

    My son is in the Army currently at JBLM but is moving to GA in July. He owns a 3 BD / 2 BA in Tacoma. I'm not sure he has enough appreciation to sell right now and I'm trying to help him decide on sell / MTR / LTR / STR. Thoughts? He near Steillacoom and Pierce.

  • Realtor · Portland, OR · Member since 2022 · 57 posts · 39 votes
    1y
    Quote from @Patricia Andriolo-Bull:

    My son is in the Army currently at JBLM but is moving to GA in July. He owns a 3 BD / 2 BA in Tacoma. I'm not sure he has enough appreciation to sell right now and I'm trying to help him decide on sell / MTR / LTR / STR. Thoughts? He near Steillacoom and Pierce.


    Depends on if he wants to keep the property in Tacoma or does he need it as a down payment for a property in GA. If he's able to rent out the property in Tacoma either STR or MTR (military bases have great tenants) to hold it long term as long as it cashflows enough. I know a few good agents in Tacoma area who can help him sell if needed. Let me know!

  • Member since 2022 · 529 posts · 413 votes
    1y
    Quote from @Keegan Schaub:
    Quote from @Patricia Andriolo-Bull:

    My son is in the Army currently at JBLM but is moving to GA in July. He owns a 3 BD / 2 BA in Tacoma. I'm not sure he has enough appreciation to sell right now and I'm trying to help him decide on sell / MTR / LTR / STR. Thoughts? He near Steillacoom and Pierce.


    Depends on if he wants to keep the property in Tacoma or does he need it as a down payment for a property in GA. If he's able to rent out the property in Tacoma either STR or MTR (military bases have great tenants) to hold it long term as long as it cashflows enough. I know a few good agents in Tacoma area who can help him sell if needed. Let me know!


    Thanks. He has an agent. Just wasn't sure about the STR demand in the area. He doesn't need the $$ for another down payment. I don't think it will cash flow as a LTR or if it does, it would be close to break even.

  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    1y

    This attempt to drum up business should be in the classifieds section.

  • AJ WongBusiness Member
    Real Estate Broker · Oregon & California Coast · Member since 2022 · 834 posts · 696 votes
    1y

    Great Post! Oregon is such an undervalued and under appreciated market. Exceptional comparative value and lower operating costs. Thanks for sharing. Cheers. 

    Sesemi | STR Brokers powered by Fathom Realty 518 Reviews
  • Realtor · Portland, OR · Member since 2022 · 57 posts · 39 votes
    1y
    Quote from @Patricia Andriolo-Bull:

    My son is in the Army currently at JBLM but is moving to GA in July. He owns a 3 BD / 2 BA in Tacoma. I'm not sure he has enough appreciation to sell right now and I'm trying to help him decide on sell / MTR / LTR / STR. Thoughts? He near Steillacoom and Pierce.

    It’s a solid area with good demand. I mainly use Awning.com Airbnb rental calculator to estimate annual rev for an STR
  • Andrew SteffensBusiness Member
    Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
    1y

    Seattle Yield = 6.23%, Portland = 9.48%, Spokane = 10.79%, Tacoma = 9.34%, Bend = 8.05% Yield

    These average yields seem very low, typically 12% ends up about breakeven when using any type of financing.  These markets seem like on average, negative cashflow.  Am I missing something?

  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    1y

    @Andrew Steffens, nope. Spot on.

  • Rental Property Investor · Somewhere over the Rainbow · Member since 2021 · 1k+ posts · 1k+ votes
    1y

    Washington & Oregon - two liberal states that are not landlord friendly

    For those reasons, I'm out 

    • Member since 2022 · 1k+ posts · 1k+ votes
      1y
      Quote from @Jeremy Horton:

      Washington & Oregon - two liberal states that are not landlord friendly

      For those reasons, I'm out 


       I see what you did there !

  • Member since 2022 · 529 posts · 413 votes
    1y

    Completely agree and wouldn't normally purchase a rental in these markets personally.  I had two in a renter friendly state previously (one went without a hitch, the second not so much), I wouldn't look to repeat that experience.  But, given that he has a primary residence there already that he must leave (Army doesn't give much choice on location), if he isn't able to sell the property quickly for at least break even, and can't take a deduction for a loss, my thinking is to flip it to a rental (question is which kind makes the most sense), he should be able to cash flow given his monthly expenses, even if only $100/mo, then if he still sells for a loss in a year or two, he could take a deduction.  Thoughts?

  • Garrett BrownPro Member
    Rental Property Investor · Houston, TX · Member since 2024 · 517 posts · 554 votes
    1y

    Seaside/Rockaway Beach is the winner on that list based on data and yields. Where did you pull your data from? I'm broadly showing closer to $300 ($299-311) ADR and 59% Occupancy rates on AirDNA research. 

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