Vacation Rental Market Analysis: Destin, FL

The Evolve Team
The Evolve Team
April 19, 2023

Dating back to a small fishing village in the 1800s, Destin has become a favorite vacation spot in Florida — and it has a rich, historic story to share with visitors. Not to mention its location on the sparkling Emerald Coast provides endless attractions for families, outdoor enthusiasts and, well, anyone else looking for fun in the sun, sea, and sand.

About 4.5 million travelers frequent the area every year to explore 24 miles of white-sand coastline, shop the nation’s largest designer outlets, and golf against the gorgeous Gulf Coast backdrop. These massive draws create the potential for curious buyers to earn with a Destin investment property.

To help you understand the income opportunity of this Florida market, we created a free, downloadable vacation rental market analysis.

Inside you’ll find:

  • Rental income potential by property size
  • Average occupancy by property size
  • Average daily rate by property size
  • Average days booked in advance
  • Average length of stay
  • Vacation rental inventory by property size
  • Occupancy rate by month

The findings in this analysis are based on Evolve’s Destin market averages in the last 12 months and provide a general baseline for performance potential. They’re designed to help inform smart decisions when looking into a Destin investment property.

Download Our Complete Destin Vacation Rental Investment Analysis

Purple icon of a beach house with waves, an umbrella, and stars

Why Destin Is a Great Place to Own Vacation Rental Property

Destin’s 24 miles of Appalachian quartz beaches and Gulf Coast surf are home to the largest charter fishing fleet and some of the best saltwater fishing in the United States. It’s what gives this locale its nickname, “World’s Luckiest Fishing Village.”

But the king mackerel aren’t the only reason people flock to these waters. Gulfarium Marine Adventure Park is located right on the coast, kayaking and paddleboarding invite people into the calm waters, and snorkeling and scuba diving offer underwater sights like no other. After visitors brush off the sand, museums, open-air shopping centers, and world-class golfing keep the fun rolling all year long — thanks in large part to a pleasant year-round climate.

In fact, Destin’s vacation rental occupancy data tends to follow a similar trend as the temperature. While winter occupancy slows down with cooler days, check-ins can start rising around mid- to late winter. They continue climbing all the way to high spring and summer peaks — even holding strong earning potential through fall months.

The area’s current $630,000 average home value is another factor to consider. That number is on the state’s high end compared to other coastal scenes, like Daytona Beach and Tampa. However, there are a wide range of purchasing price points, from more expansive family homes to smaller condos. And because there are typically more condo communities closer to the beach — providing guests with a view of those famously pristine waters — a condo investment property could be a great wave to ride into the Destin market.

Purple icon of a crystal ball with the words "profit prediction" in the middle with stars

How Much Money Can You Earn with a Destin Vacation Rental?

Destin is a draw for millions of families, couples, and sun seekers each year. But before you decide if a condo in Destin is a good investment — or if, say, a bigger beach house purchase is the way to go — there are a few details to fish for first. Consider these important factors before you reel in the big one.

Property Size

According to the data, four- and five-bedroom investment properties in Destin secured the top average nights booked — with three- and two-bedroom homes following close behind. While four- and five-bedroom homes also scored the highest average revenue, they make up less of the local inventory. This means investors and short-term renters have fewer large property options to choose from.

When you’re deciding between a rental fit for large groups or one better suited for cozy beach getaways, the lower upfront cost could make a smaller home or a condo investment property in Destin a more accessible option.

Property Location

According to our real estate experts, travelers in Destin want beach access and water views — which makes sense once you’ve seen that glistening Gulf. Starting your property search as close to the white sands as possible could help secure strong performance opportunities.

And since condo communities are often nearer to the shoreline, our experts also say a condo investment property in Destin could offer high potential to go with those high-rise views.

If a beach house investment is calling your name, check out other top-performing markets to consider on every U.S. coast.

Property Amenities

Thanks to the tropical locale, Destin investment properties can attract more bookings when offering amenities like swimming pools, water access, and beach supplies like chairs, umbrellas, or even paddleboards — anything that makes it easier for them to get in (or next to) the water faster. 

As you budget for the perfect investment, consider adding air conditioning and an updated outdoor space, too. These perks create the perfect environment for guests to relax after a long day in the sun. All-weather entertainment can also help you earn five-star reviews when rain and cooler temps keep people inside. And smart TVs, gaming consoles, or a pool table can turn up the fun for all ages.

When you’re ready to look for vacation rentals for sale, start with these available homes.

Download Our Full Destin, FL Vacation Rental Market Analysis

It’s no secret how great Destin is. More people discover its famous fishing, emerald waters, and variety of entertainment options year after year. So, a Destin investment property could be a sparkling opportunity.

Before you dive in with a rental property purchase, though — or ride the revenue wave with your current home — get the market data you need in our free Destin Vacation Rental Market Analysis. It’s full of insights like:

  • Average daily rate by property size
  • Average days booked in advance
  • Average length of stay in high and low seasons
  • Revenue potential by property size

Use our exclusive insights to help make sure your Destin vacation rental investment journey is smooth sailing.

Get Your Vacation Rental Market Analysis

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