How a Once Unpaved Stretch of Highway Became One of Florida’s Hottest Rental Markets

7/25/2023

The area along Florida's Scenic Highway 30A has seen explosive growth over the past two decades. It has also become one of Florida's hottest short-term rental markets. But like many vacation-rental markets across the country, the 30A area has experienced an occupancy slowdown this summer season from last year, with an occupancy rate of 64 percent as of July 17, down from 72 percent during the same time last year and down from 68 percent during the same time in 2019, according to Key Data dashboard. However, pricing remains steady with the average daily rental rate down 7 percent from $806 last year. Ultraluxury rentals along 30A have only been moderately impacted, according to property manager Sam Cobb, founder and CEO of ELP Luxury Vacations. Cobb said he has an occupancy rate of 80.4 percent this summer season, down slightly from 82.6 percent during the summer season last year. This season, his homes are bringing in anywhere from $12,000 to $64,425 a week, including taxes and fees. According to Key Data Dashboard, the average daily rate of the most expensive rentals on the market this summer season with five-plus bedrooms is $2,793, up from $1,979 during the same period in 2019 and down 4 percent from $2,897 during the same period last year.

Wall Street Journal (07/19/23) Libertina Brandtm

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