![]() Similar occupancy levels as Capitol Hill with a younger guest profile. The extent to which young professionals book in Belltown for leisure is not surprising given the artsy feel, trendy restaurants, and shopping options available. Obviously most of the new condos have HOA restrictions against short term rentals, which present a nice opportunity for real estate owners in the area who are not restricted by such rules. The Central Business District is one of the few areas in the country where an additional long stay discount during slow months doesn’t seem necessary.Īnother popular tourism district, the number of condos that have gone up in this area is quite impressive. All year round it feels like hosts in this area are thriving and the number of business travelers booking on Airbnb is quickly rising. Seattle is not one of those markets, and the central business district is the epicentre of consistent demand in the city. Many short term rental markets in the country have such a weak low season that owners opt for medium term rentals during this time. One of the most successful local economies in the United States, it’s no secret the home of Amazon and Microsoft is a hub for business activity in the modern age of technology. The top properties are also experiencing consistent business traffic that covers Sunday to Wednesday given the location’s proximity to the Central Business District. There is not a huge amount of competition relative to the number of people coming into the city. There is clearly a gap between the demand and the supply as it is one of the strongest 4-6 month booking windows we’ve seen in metropolitan cities. As expected for tourist areas, the occupancy curve is heavily tilted towards Wednesday to Saturday but the margins are quite high even in the winter. You could stay here for a month and not run out of things to do. One of the most popular areas for tourists to stay in all year round. ![]() Lower demand areas also tend to have less hosts utilizing professional Seattle short term rental management taking care of their Airbnb which allows hosts to provide better service relative to competitors. ![]() ![]() less supply surrounding it) and the opportunity to stand out through parameters like interior design is easier. If a listing is in a neighborhood outside of these areas it will likely be compared to fewer listings (i.e. While these regions are where many travelers want to stay they also have the most competition. It’s important to note that a listing can thrive if it’s not in one of these areas. Top hosts are making 30-60% more than if they were to rent the property long term, and so it’s no surprise the market has grown the way it has over the past few years. depending on multiple factors related to the property. Listings in these neighborhoods are experiencing a yearly average occupancy of between 80%-95%. Like any other major city, there are a select few areas that are benefiting from the growth in short term rental demand. The guest profiles booking on average tend to also be more mature and professional than other cities of comparable size, as a result of corporate traveller focused Airbnb activity. A combination of spring and summer tourist activity, consistent flow of business and regional traffic in the winter, and a “restrictive but open to anyone” approach to licencing ensures occupancy levels are consistently strong all year. ![]() Seattle is one of the most consistently strong Airbnb style short term rental markets in the world, and real estate owners are taking advantage. ![]()
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