US Vacation Rentals Summer 2021 Outlook: Occupancy, Rate & Demand

Wondering what the summer 2021 outlook is for US vacation rentals? Look no further! We have compiled data into pricing, occupancy and demand in key US markets to bring some insight to performance relative to 2019. Read on to learn which short term rental market types are booking and how.

Vacation rental data brings invaluable visibility over key trends in the industry and your market. Check out free global data in our dashboard:

3 Key US vacation rental markets

We have chosen to look at 3 key US vacation rental markets representing both different states and regions, and different market types.

Destin, located in the Florida Panhandle, is an established beach-leisure vacation rental market. Famed for its beaches and golf courses, Transparent track over 16,000 professional short-term rental listings in the market.
New York, New York on the other hand, is very much an urban and global destination. The average STR listing in the city stacked up $26.6k in revenue in 2019.
Finally we picked Steamboat Springs, Colorado as our mountain/rural market representative.

For each market we have analysed year on year evolution in July metrics including:

Read on for insight into the vacation rental Summer 2021.

Vacation rental occupancy on the books for summer 2021

Occupancy illustrates the much discussed demand patterns with urban and rural destinations, with July occupancy at week 14 16% higher for Destin and 9% up for Steamboat. However, there is also a slight increase this time for New York.

The overall increase in occupancy already booked up across all 3 market types really demonstrates the general appetite for trips ahead of the summer.

Rates for summer 2021 vacation rentals

The reflection of demand and booking confidence for ‘rural’ markets in Summer 2021 pricing is also noteworthy. Both our beach and mountain destinations are seeing their July rates increase from 2019.
For beach destination Destin, booked ADR is up a third, with current advertised rates also higher at a more realistic 8% increase on July 2019. Meanwhile, Steamboat has so far booked July at 24% more per night on average, with nights currently advertised a huge 52% above 2019.

Contrastingly, urban centre New York has very comparable advertised rates with 2019, recovering from a 17% reduction in rates on reservations booked so far for July.

This data combined tells us how booked these markets currently are for summer, and at what rate that occupancy was booked at. It also hints at the prices hosts and managers are hoping to achieve on that remaining availability.

Demand for summer 2021 vacation rentals

The occupancy and pricing have given us a flavour for what’s already booked. Next, we look at year on year reservations in each of our markets, which will illustrate the demand driving the rate changes.

Beach/leisure market Destin took almost double the bookings in week 14 this year that it took in the same week of 2019. Meanwhile, our mountain market saw a 27% increase year on year. Conversely, New York inventory experienced 42% fewer reservations than in week 14 2019.

Summer 2021 Outlook for US Vacation Rentals

The above data confirms the much-postulated idea that demand is centering around non-urban stays. However, demand in general is strong.

As we emerge from the pandemic, guests are keen to escape their locale and gain some new space. Trends are emerging, with appetite for greater isolation, outdoor and more remote attractions, and more self-sufficiency in accommodations, not only driving non-urban demand, but also boosting rental demand over traditional lodgings such as hotels.

You can track current vacation rental demand in our recovery data tracker, which includes a state breakdown map:

All in all, with non-urban demand, occupancy and rates all significantly increased on 2019, and urban destinations such as New York resisting in pricing and booked occupancy, vacation rentals are positioned well to recover quickly.

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