Phoenix, Arizona Short-Term Rental Market Analysis

Phoenix, Arizona Short-Term Rental Market Overview

Population: 1,608
Annual Visitors: 44,800,000
Total STRs: 8,586
ADR: $153.80

Visitor Profile

Phoenix, Arizona, is a vibrant tourism destination that attracts approximately 16 million visitors each year, contributing significantly to the local economy. The city’s visitor demographics reveal a diverse mix, with a notable percentage of travelers aged 25-54, representing about 60% of all visitors. The primary reasons for visiting include leisure activities, business trips, and events, with outdoor recreation and cultural experiences being particularly popular. The economic impact of tourism in Phoenix is substantial, with visitor spending exceeding $3 billion annually, supporting thousands of jobs in the hospitality and service sectors.

Key visitor statistics indicate that Phoenix sees a steady influx of tourists throughout the year, with peak seasons occurring in the winter months, particularly from December to April, when the weather is most favorable. The average length of stay for visitors is around 3.5 nights, allowing ample time to explore attractions such as the Desert Botanical Garden and the Heard Museum. According to the tourism bureau (https://www.visitphoenix.com), the city is also a hub for conventions and business travel, which accounts for a significant portion of visitor traffic. The diverse range of accommodations, from luxury resorts to budget-friendly hotels, caters to various preferences and budgets, making Phoenix an appealing destination for all types of travelers. Understanding these Phoenix tourism statistics and visitor demographics is crucial for STR operators aiming to optimize their offerings and enhance guest experiences. By aligning services with visitor interests, businesses can effectively tap into the growing tourism market in this dynamic city.

For more detailed information, visit the official tourism site at https://www.visitphoenix.com.

Top Attractions

Phoenix, Arizona, is a vibrant city known for its stunning desert landscapes, rich cultural heritage, and a plethora of attractions that cater to all interests. Visitors can explore the breathtaking Desert Botanical Garden, which showcases the beauty of desert flora, or immerse themselves in the art and history at the Phoenix Art Museum. With a variety of experiences ranging from outdoor adventures to cultural explorations, Phoenix offers something for everyone. Whether you are traveling with family, seeking adventure, or looking to relax, the city’s attractions promise to create unforgettable memories.

One of the top attractions in Phoenix is the Desert Botanical Garden, where you can wander through 140 acres of stunning desert plants and learn about the unique ecosystems of the Sonoran Desert. The garden features numerous trails, exhibits, and seasonal displays, making it a perfect spot for nature lovers. For more information, visit the official website at https://dbg.org. Another must-see is the Phoenix Art Museum, home to an impressive collection of over 18,000 works of art, including American, Asian, and contemporary pieces. The museum also offers engaging exhibitions and educational programs, making it a cultural hub in the city. Check out their offerings at https://phxart.org. Families will enjoy the Arizona Science Center, which features hands-on exhibits and an IMAX theater, providing an interactive learning experience for all ages. For details, visit https://azscience.org. Lastly, don’t miss the iconic Camelback Mountain, a popular hiking destination that offers stunning views of the city and surrounding landscapes. With its diverse attractions, Phoenix is a city that invites exploration and adventure year-round.

Regulations

Phoenix short-term rental regulations are essential for property owners looking to navigate the local market successfully. In Phoenix, short-term rentals are defined as rentals of residential properties for fewer than 30 consecutive days. Owners must obtain a Short-Term Rental (STR) license from the City of Phoenix, which requires compliance with specific zoning regulations and safety standards. Additionally, property owners are responsible for collecting and remitting a transaction privilege tax (TPT) on rental income. Understanding these regulations is crucial for avoiding fines and ensuring a smooth rental experience. For those interested in operating a short-term rental in Phoenix, it is vital to familiarize yourself with the local laws and requirements.

To operate a short-term rental in Phoenix, property owners must first secure a STR license, which can be applied for through the City of Phoenix’s official website. The licensing process includes providing proof of ownership, compliance with zoning laws, and adherence to safety standards, such as smoke detectors and fire extinguishers. Property owners are also required to collect a TPT of 2.3% on rental income, which must be reported and paid to the Arizona Department of Revenue. Zoning restrictions may limit short-term rentals in certain areas, so it is crucial to verify local zoning ordinances before proceeding. Violations of these regulations can result in penalties, including fines and potential revocation of the STR license. For more detailed information, visit the City of Phoenix’s official STR regulations page at https://www.phoenix.gov/pdd/short-term-rentals and the Arizona Department of Revenue for tax obligations at https://azdor.gov.

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Vacation Rental Market Overview for Phoenix

Phoenix attracts visitors with its urban amenities and entertainment and family-friendly attractions. The short-term rental market here serves diverse traveler demographics, from business professionals to family vacationers.

This destination’s rental market offers unique opportunities for property investors, with comprehensive data revealing seasonal patterns and demand drivers.

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Phoenix, Arizona Market Performance Trends

LTM Avg. Daily Rate$182.00
LTM Occupancy Rate66.7%
LTM Avg. Revenue$2,500

Short-Term Rental Market Performance Analysis for Phoenix

The short-term rental market in Phoenix demonstrates dynamic pricing patterns and occupancy trends that savvy property investors and managers monitor closely. This comprehensive 12-month analysis reveals seasonal variations and revenue optimization opportunities.

Market Trend Summary

Current market indicators show: strong seasonal variation with peak summer demand

Market data updated daily. Professional-grade analytics trusted by thousands of property managers and real estate investors.

Phoenix, Arizona Rental Market Insights

10-Year Market Growth

Booking Activity

  • 1-3 Months:59.5% Booked
  • 4-6 Months:54.8% Booked
  • 7-9 Months:44.6% Booked
  • 10-12 Months:12.7% Booked

Cancellation Policies

  • Flexible:34.1%
  • Moderate:29.5%
  • Strict:33.7%
  • Super Strict:33.7%
  • N/A:0.9%

Minimum Stay

  • 1 Day:2,037
  • 2 Days:1,653
  • 3 Days:900
  • 4-6 Days:402
  • 7-29 Days:459
  • 30+ Days:490

Short-Term Rental Regulations and Booking Patterns in Phoenix

Phoenix vacation rental operators navigate specific local regulations and booking patterns that shape market dynamics. Understanding minimum stay requirements, cancellation policies, and booking windows is essential for successful property management.

Market analysis reveals flexible booking policies attracting last-minute travelers. These insights help property managers optimize their listing strategies and maximize occupancy.

Local regulations and platform policies influence rental operations. StaySTRA provides comprehensive policy tracking and compliance insights.

Phoenix, Arizona Housing Market Data

Home Value Trends

Market Overview

  • Typical Home Value:$408,113
  • Median Sale Price:$417,633
  • Median List Price:$460,999

Current Inventory

  • Homes For Sale:5,497
  • New Listings:1,335

Detailed Market Analysis

The average home value in Phoenix, AZ is $408,114, down 4.6% over the past year. Learn more about the Phoenix housing market and real estate trends.

Real Estate Market Analysis for Phoenix, Arizona

The residential real estate market in Phoenix, Arizona presents unique opportunities for investors and homebuyers alike. Current market dynamics show steady growth patterns in an established market with inventory levels and pricing trends that reflect broader economic conditions and local demand factors.

Key Market Factors

Important considerations for this market include: proximity to major employment centers, quality school districts, and developing infrastructure These factors contribute to the overall market performance and future growth potential.

Real estate investments in Phoenix, Arizona benefit from balanced supply-demand dynamics and reasonable price points. Prospective buyers and investors should consider both current market conditions and long-term growth indicators when evaluating opportunities in this market.

Phoenix, Arizona Rental Market Composition

Entire Place by Beds

Common Rental Amenities

Guest Rating Highlights

  • Overall Rating:4.75 / 5
  • Cleanliness:4.79 / 5
  • Location:4.79 / 5
  • Value:4.74 / 5
  • Accuracy:4.82 / 5
  • Check-in:4.86 / 5
  • Communication:4.86 / 5

Vacation Rental Property Types in Phoenix

The vacation rental market in Phoenix features a diverse mix of property types, from cozy studios to spacious family homes. Understanding the property composition helps investors identify market gaps and opportunities.

Market characteristics include a balanced mix of entire homes and private rooms. This distribution reflects local demand patterns and traveler preferences.

Premium amenities and guest ratings play a crucial role in rental performance, with data showing clear correlations between specific features and booking rates.

More Locations In Arizona

Related Short-Term Rental Markets

Explore 65 vacation rental markets within Arizona. Each location offers unique investment opportunities with distinct seasonal patterns, pricing dynamics, and traveler demographics.

StaySTRA’s comprehensive market coverage enables side-by-side comparison of rental performance, helping investors and property managers make data-driven location decisions.

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The short-term rental (STR) market in Phoenix, Arizona is thriving, with a total of 8,479 active rentals, an average daily rate (ADR) of $189.52, and an impressive occupancy rate of 64%. Notably, the city's rental demand score stands at 67.66, indicating a robust market that attracts both investors and travelers alike.

More Locations In Arizona

Related Short-Term Rental Markets

Explore 65 vacation rental markets within Arizona. Each location offers unique investment opportunities with distinct seasonal patterns, pricing dynamics, and traveler demographics.

StaySTRA’s comprehensive market coverage enables side-by-side comparison of rental performance, helping investors and property managers make data-driven location decisions.

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