Mims, Florida, a small community located in Brevard County, benefits from its proximity to major attractions, natural parks, and waterways. Centrally positioned between Titusville and Cocoa, Mims is inviting for those seeking a quieter lifestyle without being far from urban amenities. As tourism continues to grow in Brevard County, short-term rental investments in this area are increasingly appealing, offering opportunities especially for investors looking to capitalize on its accessibility to the Space Coast and Indian River.

The short-term rental market in Mims is characterized by several key performance indicators (KPIs) that potential investors should monitor:

• Current Average Daily Rate (ADR): The average daily rate for rentals is currently $133.63.
• Occupancy Rates: Over the past year, occupancy in Mims has ranged from 60-75%, indicating a steady demand for short-term accommodations.
• Average Length of Stay: Guests tend to stay an average of 3 to 5 nights, which is typical for a mix of tourists and temporary workers.
• Seasonal Booking Trends: Demand spikes during holidays and summer months, particularly around the launch of space missions from Cape Canaveral, drawing visitors eager to experience unique events.

Over the past decade, Mims has experienced a modest but steady growth in both its population and tourism-driven activities. According to U.S. Census Bureau data, the population has seen minimal fluctuations, indicating stability within the community. Visitor statistics shared by local tourism offices suggest an increase in tourism connected to the Space Coast, with more visitors attracted to Mims for short stays. This growth trajectory bodes well for the future of short-term rental investments as demand for lodging continues to combine with rising interest in the area.

With an ADR of $133.63 and an occupancy rate estimated upwards of 70% during peak times, short-term rental investments in Mims show considerable potential for return on investment (ROI). For instance, an investor operating a property rented at the average rate over 12 months could see its financial breakdown as follows:

• Occupancy Rate: 70% yields approximately 255 rented nights annually.
• Revenue Calculation: At $133.63 per night, annual gross revenue would be approximately $34,063.65.
• Operating Expenses: Assuming generally accepted operating costs (cleaning, property management, utilities, and maintenance) amounting to around 30%, the total expenses could reach $10,219.09, leading to a net operating income (NOI) of about $23,844.56. This generates a strong ROI, particularly when compared to traditional long-term rental yields.

Mims experiences defined seasonal patterns that influence rental demand:

• Peak Season: Summer (June to August) and winter holidays (including Thanksgiving and Christmas) see increased visitors due to family vacations and holiday travelers.
• Shoulder Season: Spring and Fall months often feature moderate activity; events such as SpaceX launches can boost occupancy during these periods.
• Low Season: Typically winter months after the holiday surge may see a slight drop in occupancy, although special events and local attractions can mitigate these effects.

Understanding these patterns can aid in preparing properties for guest influx during peak times and maintaining cash flow year-round.

In Mims, various types of short-term rentals cater to distinct markets:

• Single Family Homes: These dominate the market and are popular for families and groups attending local events. Their larger capacity allows for higher occupancy rates, particularly during peak seasons.
• Condos and Townhouses: While they typically see less operating strain than detached homes, properties may appeal to budget-conscious travelers.
• Camping and Glamping Options: Given Mims's natural surroundings, unique offerings such as camping or glamping can attract guests seeking an outdoor experience, particularly near the wildlife refuges.

Investors should evaluate the existing competition and consider what type of property fits best with current market demands to maximize profitability.

Insights into guest preferences in Mims reveal a focus on certain amenities and features:

• Essential Amenities: High-demand amenities include Wi-Fi, air conditioning, fully equipped kitchens, and laundry facilities.
• Unique Offerings: Features such as pools, outdoor spaces, and access to local attractions (like parks, beaches, or launch sites) can provide a competitive edge.
• Sustainability and Eco-friendliness: Increasingly, guests are looking for properties that incorporate green practices, such as recycling provisions and energy-efficient appliances.

Investors should consider integrating popular amenities to enhance guest satisfaction, leading to favorable reviews and repeat bookings.

Mims operates under Brevard County’s regulations concerning short-term rentals. The area has implemented regulations focused on safety, zoning, and licensing requirements. Key points include:

• Licensing: Property owners intending to rent must obtain a business tax receipt and adhere to county zoning laws.
• Zoning Laws: Certain neighborhoods may have restrictions on short-term rentals, so understanding local zoning ordinances is crucial.
• Safety Regulations: Compliance with fire safety regulations and proper liability insurance is mandatory.

Up-to-date knowledge of local regulations is essential for investors to avoid potential fines and ensure smooth operation.

Mims is characterized by its small-town feel, with neighborhoods that contribute to its unique charm:

• Proximity to Nature: Many neighborhoods are adjacent to parks and waterways, making it attractive to visitors interested in outdoor activities, such as hiking and bird watching.
• Cultural Attractions: The presence of local businesses and cultural sites enriches the environment for both guests and residents.
• Community Events: Regularly scheduled community events can augment tourism rates, especially those that attract families or space enthusiasts.

An in-depth understanding of each neighborhood's attributes can assist investors in selecting the ideal property location, enhancing potential marketability.

The outlook for Mims's short-term rental market appears optimistic considering several factors:

• Growing Tourism: The expansion of space activities associated with the Kennedy Space Center and Cape Canaveral Air Force Station drives interest and visitation to the region.
• Shift in Traveler Preferences: Trends indicate an increase in domestic travel, with more individuals seeking local escapes. This shift could accelerate demand for rental properties in Mims.
• Investment in Infrastructure: Ongoing improvements in local infrastructure may make Mims more accessible, further boosting its attractiveness.

Monitoring these trends will be crucial for real estate investors looking to capitalize on shifting market dynamics.

1. How do occupancy rates vary by property type in Mims?
Occupancy rates are generally higher for single-family homes due to their capacity to accommodate larger groups, while condos and smaller units may have lower occupancy but cater to short-stay visitors.

2. What are the significant events that influence rental demand?
Major events such as rocket launches, local festivals, and holiday vacations typically drive demand for short-term rentals, leading to increased bookings.

3. Are there any permits required for short-term rentals in Mims?
Yes, property owners must secure a business tax receipt and comply with Brevard County’s zoning regulations, which vary by neighborhood.

4. What amenities do guests prefer when staying in Mims?
Commonly sought-after amenities include high-speed internet, kitchen facilities, outdoor spaces, and access to local attractions, enhancing guest satisfaction.

5. What is the typical length of stay for visitors in Mims?
Visitors typically stay between 3 to 5 nights, with some longer stays during holidays or events.

In summary, Mims presents a compelling opportunity for short-term rental investments driven by steady demand, moderate growth potential, and supportive local activity surrounding tourism. Investors should evaluate specific market dynamics closely, ensuring compliance with regulations and maximizing property appeal through amenity offerings.