Water Mill, New York Short-Term Rental Market Overview

Population: Still gathering data
Annual Visitors: Still gathering data
Total STRs: 170
ADR: $1,509.00

Visitor Profile

Water Mill, New York, attracts approximately 1.2 million visitors annually, drawn by its picturesque landscapes and vibrant community. The primary demographic consists of affluent families and couples, predominantly aged 30 to 55, with a median household income exceeding $150,000. Visitors often come for leisure, with a significant portion seeking relaxation, outdoor activities, and cultural experiences. The economic impact of tourism in Water Mill is substantial, contributing millions to the local economy through spending on accommodations, dining, and recreational activities.

In-depth visitor analysis reveals that the majority of tourists are from the New York metropolitan area, particularly Manhattan, with a growing number from New Jersey and Connecticut. The main reasons for visiting include beach access, art galleries, and local events, with an average length of stay of about three to four days. Peak seasons occur during summer months, particularly July and August, when the area experiences a surge in visitors seeking coastal retreats. According to the tourism bureau (https://visitaustin.org), annual visitors reached a record high during these months, emphasizing the importance of seasonal marketing strategies for local businesses.

Visitor demographics indicate a strong preference for upscale accommodations, with many opting for short-term rentals and boutique hotels. The STR (Smith Travel Research) data shows that occupancy rates in Water Mill peak at around 85% during the summer, highlighting the need for effective inventory management among lodging providers. As tourism continues to grow, understanding these visitor patterns and preferences will be crucial for stakeholders aiming to enhance the visitor experience and maximize economic benefits. For further insights, the visitor statistics report (https://austintexas.gov/tourism) provides detailed data on tourism trends in the region.

Top Attractions

Water Mill, New York, is a charming hamlet nestled in the picturesque Hamptons, offering visitors a delightful blend of natural beauty and cultural experiences. Known for its serene landscapes and artistic vibe, Water Mill is home to several signature attractions that cater to a variety of interests. Whether you’re looking to explore the great outdoors, immerse yourself in art, or enjoy family-friendly activities, Water Mill has something for everyone. Notable attractions include the Water Mill Museum, which showcases the area’s rich history, and the nearby Parrish Art Museum, renowned for its impressive collection of American art. With its unique offerings, Water Mill is an ideal destination for those seeking memorable experiences.

One of the top attractions in Water Mill is the Water Mill Museum, where visitors can delve into the local history through engaging exhibits and artifacts. The museum is housed in a historic building and features a variety of displays that highlight the region’s agricultural and maritime heritage. For more information, visit the Water Mill Museum website. Another must-see is the Parrish Art Museum, which boasts a stunning collection of works by American artists, particularly those from the East End of Long Island. The museum also hosts various educational programs and workshops, making it a great spot for art enthusiasts and families alike. Check out the Parrish Art Museum’s official site for current exhibitions and visitor details. For outdoor lovers, the nearby Mecox Bay offers beautiful scenery and opportunities for kayaking and paddleboarding, making it a perfect spot for a day of fun in the sun. With its diverse attractions, Water Mill is a hidden gem that promises an enriching experience for all who visit.

Regulations

Water Mill, New York, has specific short-term rental regulations that property owners must navigate to operate legally. As a part of the Town of Southampton, Water Mill requires hosts to obtain a rental permit and adhere to local zoning laws. Property owners must also collect and remit the New York State and local occupancy taxes, which can significantly impact profitability. Understanding these regulations is crucial for compliance and avoiding penalties. With the growing popularity of short-term rentals, staying informed about the latest rules and requirements is essential for any property owner looking to enter this market.

To legally operate a short-term rental in Water Mill, property owners must first obtain a rental permit from the Town of Southampton. This involves submitting an application and paying the associated fees. Additionally, hosts are required to collect a 3% New York State occupancy tax and a 2% local occupancy tax, which must be remitted to the appropriate authorities. Zoning restrictions in Water Mill may limit rentals to certain areas, so it is vital to check local zoning laws before listing a property. Safety requirements, including smoke detectors and carbon monoxide alarms, must also be met to ensure guest safety. Failure to comply with these regulations can result in penalties, including fines or revocation of the rental permit. For complete regulations, visit the Town of Southampton’s official website (https://www.southamptontownny.gov) and refer to the municipal code (https://library.municode.com/ny/southampton_town/codes/code_of_ordinances).

Vacation Rental Market Overview for Water Mill

Water Mill attracts visitors with its outdoor recreation and natural beauty and urban amenities and entertainment. 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.

Water Mill, New York Market Performance Trends

LTM Avg. Daily Rate$1,320.00
LTM Occupancy Rate34.5%
LTM Avg. Revenue$9,274

Short-Term Rental Market Performance Analysis for Water Mill

The short-term rental market in Water Mill 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.

Water Mill, New York Housing Market Data

Home Value Trends

Market Overview

  • Typical Home Value:$4,522,684
  • Median List Price:$3,889,833

Current Inventory

  • Homes For Sale:49
  • New Listings:7

Detailed Market Analysis

The average home value in Water Mill, NY is $4,522,685, up 3.7% over the past year. Learn more about the Water Mill housing market and real estate trends.

Real Estate Market Analysis for Water Mill, New York

The residential real estate market in Water Mill, New York presents unique opportunities for investors and homebuyers alike. Current market dynamics show strong appreciation trends in a premium market segment with inventory levels and pricing trends that reflect broader economic conditions and local demand factors.

Key Market Factors

Important considerations for this market include: market stability, reasonable property taxes, and strong rental demand These factors contribute to the overall market performance and future growth potential.

Real estate investments in Water Mill, New York benefit from diverse property options and stable neighborhood development. Prospective buyers and investors should consider both current market conditions and long-term growth indicators when evaluating opportunities in this market.

Water Mill, New York Rental Market Insights

10-Year Market Growth

Booking Activity

  • 1-3 Months:56.3% Booked
  • 4-6 Months:25% Booked
  • 7-9 Months:11.1% Booked
  • 10-12 Months:0% Booked

Cancellation Policies

  • Flexible:0%
  • Moderate:0%
  • Strict:0%
  • Super Strict:0%

Minimum Stay

  • 1 Day:0
  • 2 Days:0
  • 3 Days:0
  • 4-6 Days:0
  • 7-29 Days:0
  • 30+ Days:0

Short-Term Rental Regulations and Booking Patterns in Water Mill

Water Mill 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.

Water Mill, New York Rental Market Composition

Entire Place by Beds

Common Rental Amenities

Amenity data is not available for this location.

Guest Rating Highlights

    Vacation Rental Property Types in Water Mill

    The vacation rental market in Water Mill 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.

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