Fayetteville, Arkansas Short-Term Rental Market Analysis
Table of Contents
Fayetteville, Arkansas Short-Term Rental Market Overview
Visitor Profile
Fayetteville, Arkansas, attracts approximately 1.5 million visitors annually, contributing significantly to the local economy with an estimated economic impact of over $200 million. The visitor demographic is diverse, with a notable 40% of visitors aged between 25 and 44. The primary reasons for visiting include attending events, exploring the outdoors, and experiencing the local culture, particularly the vibrant arts scene and culinary offerings. Fayetteville’s tourism statistics highlight a growing interest in eco-tourism and outdoor activities, making it an appealing destination for both families and adventure seekers.
In terms of comprehensive visitor analysis, Fayetteville’s annual visitor numbers reflect a steady increase, with a significant portion of tourists coming from neighboring states such as Missouri and Texas. The primary demographics showcase a balanced mix of age groups, with families, millennials, and retirees making up the bulk of the visitors. The main reasons for visiting Fayetteville include attending the University of Arkansas events, enjoying the scenic Ozark Mountains, and participating in local festivals. Visitors typically stay an average of 2.5 nights, with peak seasons occurring during the spring and fall months, coinciding with various local events and favorable weather conditions. According to the tourism bureau (https://www.explorefayetteville.com), the city has seen a rise in hotel occupancy rates, reflecting the growing interest in Fayetteville tourism statistics. This influx of visitors presents opportunities for STR operators to cater to diverse needs, from budget accommodations to luxury stays. Understanding Fayetteville visitor demographics is crucial for businesses aiming to enhance their offerings and capitalize on the thriving tourism market.
https://www.explorefayetteville.com https://www.fayettevillear.gov/visitors
Top Attractions
Fayetteville, Arkansas, is a vibrant city nestled in the Ozark Mountains, offering a rich blend of culture, history, and outdoor adventure. Known for its welcoming atmosphere, Fayetteville boasts a variety of attractions that cater to all interests. Visitors can explore the stunning beauty of the Ozark National Forest, delve into the local art scene at the Fayetteville Underground, or enjoy a leisurely stroll through the Botanical Garden of the Ozarks. With its diverse offerings, Fayetteville is an ideal destination for families, couples, and solo travelers alike, promising memorable experiences year-round.
One of the top attractions in Fayetteville is the Crystal Bridges Museum of American Art. This impressive museum features a stunning collection of American art from the Colonial era to contemporary works, all set within a beautiful natural landscape. Visitors can enjoy the museum’s architecture, designed by renowned architect Moshe Safdie, and explore the surrounding trails. For more information, visit their official website at https://crystalbridges.org.
Another must-see is the Botanical Garden of the Ozarks, a 12-acre garden that showcases the region’s diverse plant life. The garden features themed areas, including a butterfly garden and a children’s garden, making it a perfect spot for family outings. Learn more by visiting https://bgozarks.org.
For a taste of local history, the Fayetteville Historic Square offers a charming atmosphere with unique shops, restaurants, and the iconic Washington County Courthouse. This area is perfect for leisurely exploration and soaking in the local culture.
Lastly, the Ozark National Forest provides endless opportunities for outdoor activities, from hiking and biking to camping and fishing. With its breathtaking views and diverse ecosystems, it’s a natural playground for adventure seekers.
Fayetteville attractions promise a delightful mix of experiences that will leave visitors enchanted.
Regulations
Fayetteville, Arkansas, has established specific regulations governing short-term rentals (STRs) to ensure community safety and compliance. Property owners looking to operate STRs in this vibrant city must navigate a series of requirements, including obtaining a rental license, adhering to zoning laws, and fulfilling tax obligations. The city mandates that all short-term rental operators secure a license from the City of Fayetteville, which requires an application and a fee. Additionally, owners are responsible for collecting and remitting a 2% lodging tax on rental income. Understanding these regulations is crucial for compliance and avoiding penalties, making it essential for property owners to familiarize themselves with the local laws. For a comprehensive overview of the Fayetteville short-term rental regulations, continue reading.
To operate a short-term rental in Fayetteville, property owners must first obtain a rental license, as outlined in the Fayetteville Municipal Code (https://library.municode.com/ar/fayetteville/codes/code_of_ordinances). This license must be renewed annually, and failure to do so can result in fines. Zoning restrictions apply, meaning that not all properties are eligible for short-term rental use; owners should verify zoning classifications before proceeding. Safety requirements, including smoke detectors and carbon monoxide alarms, are also mandated to ensure guest safety. Additionally, any violations of these regulations can lead to penalties, including fines and potential revocation of the rental license. For detailed information on licensing and compliance, visit the City of Fayetteville’s official STR page (https://www.fayetteville-ar.gov/str). Understanding these Fayetteville short-term rental regulations is essential for a successful and lawful rental operation.
Vacation Rental Market Overview for Fayetteville
Fayetteville attracts visitors with its urban amenities and entertainment and adventure sports and activities. 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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Fayetteville, Arkansas Market Performance Trends
Short-Term Rental Market Performance Analysis for Fayetteville
The short-term rental market in Fayetteville 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: year-round stability with consistent occupancy
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Fayetteville, Arkansas Rental Market Insights
10-Year Market Growth
Booking Activity
- 1-3 Months:69% Booked
- 4-6 Months:60.9% Booked
- 7-9 Months:48% Booked
- 10-12 Months:4% Booked
Cancellation Policies
- Flexible:32.9%
- Moderate:40.4%
- Strict:23.7%
- Super Strict:23.7%
- N/A:1.8%
Minimum Stay
- 1 Day:205
- 2 Days:292
- 3 Days:10
- 4-6 Days:8
- 7-29 Days:9
- 30+ Days:49
Short-Term Rental Regulations and Booking Patterns in Fayetteville
Fayetteville 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 structured minimum stays optimizing for weekly rentals. 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.
Fayetteville, Arkansas Housing Market Data
Home Value Trends
Market Overview
- Typical Home Value:$372,210
- Median Sale Price:$373,666
- Median List Price:$421,233
Current Inventory
- Homes For Sale:369
- New Listings:134
Detailed Market Analysis
Real Estate Market Analysis for Fayetteville, Arkansas
The residential real estate market in Fayetteville, Arkansas presents unique opportunities for investors and homebuyers alike. Current market dynamics show balanced market conditions with accessible entry points with inventory levels and pricing trends that reflect broader economic conditions and local demand factors.
Key Market Factors
Important considerations for this market include: established neighborhoods, community amenities, and transportation accessibility These factors contribute to the overall market performance and future growth potential.
Real estate investments in Fayetteville, Arkansas benefit from consistent market appreciation and strong resale values. Prospective buyers and investors should consider both current market conditions and long-term growth indicators when evaluating opportunities in this market.
Fayetteville, Arkansas Rental Market Composition
Entire Place by Beds
Common Rental Amenities
Vacation Rental Property Types in Fayetteville
The vacation rental market in Fayetteville 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 predominantly entire home rentals catering to families. 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.
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Get Your Free Property Analysis →The short-term rental (STR) market in Fayetteville, Arkansas, is poised for growth, currently boasting 829 active rentals with an average daily rate (ADR) of $217.13 and an occupancy rate of approximately 48%. Notably, the average monthly revenue per property stands at $2,616, making it an attractive market for investors and property managers looking for profitable opportunities.
