With over 100 miles of sparkling shoreline and no shortage of history, the Outer Banks is an exciting and relaxing vacation destination. The area’s seaside charm and many to-dos draw four million annual visitors. And that’s exactly what makes buying rental property in the Outer Banks a great consideration for investors.
To help you understand the investment opportunity this coastal market presents, we created a free, downloadable vacation rental market analysis.
Inside you’ll find:
The findings in this analysis are based on Evolve’s Outer Banks market averages in the last 12 months and provide a general baseline for performance potential. They’re designed to help inform smart buying decisions when purchasing an Outer Banks investment property.
Whether guests are planning a memorable family getaway, romantic couple’s retreat, or solo tour of historic attractions, the Outer Banks entertains travelers of all kinds with its surf, sand, and calm pace of living.
The area’s high season tends to hit during the summer months — when visitors can enjoy perfect beach day temperatures and Atlantic breezes. Demand continues in the fall, too, as Outer Banks weather stays mild and sunny and crowds begin to thin out.
The Outer Banks has many towns to explore, all varying in median home value. Nags End and Kitty Hawk come in around $700,000 and $600,000 respectively, while Hatteras Island offers prices in the upper $400,000s. This gives investors options to fit a broader variety of budgets. What’s more: nearly every town in the Outer Banks area has easy access to the shoreline, helping boost your appeal and performance no matter where you land on price.
The strong demand for charming Outer Banks vacations makes the area a worthy rental market to consider. In order to gauge just how much you can make when buying rental property in the Outer Banks, consider these important factors.
With many families and large groups coming to the Outer Banks, four- and five-bedroom homes tend to earn the highest annual revenue. But the area’s available inventory is dominated by two- and three-bedroom homes, which means expanding your search to include mid-size properties can uncover a wider selection.
On that note, homes of all sizes actually tend to see similar annual occupancy. So, a small- to mid-size Outer Banks investment property can still be highly profitable with the correct approach — and potentially come in at a lower upfront cost.
The beach is a top reason many visit the area, so securing an Outer Banks investment property by the sand (or one within walking distance) is a strong move for investors. According to our real estate experts, the most-booked properties in the Outer Banks have ocean-facing balconies, and are often located in or near popular towns like Nags Head, Kitty Hawk, and Kill Devil Hills. Use the shoreline as your guide to discover lucrative properties of all kinds.
If beachfront properties are limited, consider looking near Gallery Row or the shops of Hatteras Island, Duck, and Manteo. These quaint commercial centers offer plenty of shopping and activities, so being close can help you earn more bookings.
Whether or not you’re right on the sand, make beach adventures convenient for travelers by offering amenities like towels, umbrellas, and toys. If you have outdoor space of your own (like a deck or yard), make sure it’s updated. Comfortable outdoor seating and shaded areas mean guests can continue enjoying the salty air even after they’ve left the dunes.
Then, think about bringing the beach atmosphere indoors with inviting interior design. Incorporate bright pillows, coastal decor, or an ocean-themed welcome basket to create a more memorable experience for your guests.
Of course, you never want to forget about the profit-driving amenities travelers have come to expect — and always appreciate. For families visiting the Outer Banks, provide extra sleeping spaces, cribs, and bunks to create that home-away-from-home feel. Touches like self check-in and an informative welcome book can also help you collect more five-star reviews.
Thriving tourism, small-town charm, and easy access to the Atlantic make buying rental property in the Outer Banks a solid income opportunity for investors.
For a more detailed look at the area’s potential, download our free Outer Banks Vacation Rental Market Analysis today. It includes:
Our expert insights can help make evaluating Outer Banks investment properties as easy as watching waves crash against the shore. Take your first step toward an informed vacation rental purchase.