CHARLESTON, S.C. (WCBD) – A recent study found that Charleston is the second most profitable city in the United States for rental property owners.
According to HomeAdvisor, rental property owners in Charleston have an average daily mortgage cost of $58. The average daily cost of an Airbnb rental is around $369, resulting in a $311 profit margin.
Based on HomeAdvisor’s study, it takes hosts in Charleston just under five days of rent to make up their monthly expenditures on the rental home.
The study attributes Charleston’s allure to its location, waterfront views, beaches, fine dining, and attractions to suit all interests.
Green Bay, Wisconsin topped the list with an average daily profit of $313. Rounding out the top three was Nashville, Tennessee with an average daily profit of $284.
The least lucrative place to own an Airbnb according to the study was San Jose, California, where hosts actually lose money. The average daily mortgage cost is $283, while the average daily investment in a rental property is $218, resulting in a -$65 profit margin.