Vacation Rental Market Analysis: Raleigh, NC

The Evolve Team
The Evolve Team
July 19, 2023

Dubbed the ‘Smithsonian of the South,’ the city of Raleigh is filled with oak-lined streets, art museums, and a diverse, down-home food scene that attracts travelers from all backgrounds. 

Nearly 16 million visitors flock to Raleigh each year to also get a taste of Southern culture and take in nature’s scenery via thousands of park acres (including North Carolina’s longest hiking trail). These unique draws are exactly why a Raleigh real estate investment is an opportunity worth exploring.

To help you understand the earning potential this charming market presents, 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 Raleigh 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 exploring the Raleigh rental market.

Download Our Complete Raleigh Real Estate Investment Analysis

Green icon of a house with shrubs and stars

Why Raleigh Is a Great Place to Own Vacation Rental Property

With over a dozen museums and kid-friendly attractions — including Marbles Kids Museum and the North Carolina Museum of Natural Sciences — Raleigh tends to draw in lots of families (especially during school breaks). However, adults-only groups can also find plenty to do thanks to Raleigh’s nightlife scene, must-try restaurants, and live sporting events. 

Annual occupancy for short-term vacation rentals in Raleigh tends to remain relatively steady throughout the year, with demand dipping off a bit in both early and late winter months — making a Raleigh real estate investment a good contender for more stable vacation rental income.

The current average home price in Raleigh sits just under $430,000, making it slightly more expensive than the median national average. Compared to other North Carolina hotspots like Outer Banks or Asheville, though, Raleigh offers more affordable options.

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

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

Raleigh presents a variety of real estate options for buyers to scoop up. To get a better understanding of how you can earn with a Raleigh investment property, consider these important factors.

Property Size

According to our current data, three-bedroom Raleigh vacation rentals tend to stay the most booked throughout the year. Unsurprisingly, four- and five-bedroom homes — that can accommodate large groups or families — tend to bring in the most annual income.

However, smaller property sizes also see steady occupancy throughout the year. This gives investors options to choose from during a search for the perfect Raleigh real estate investment.

Property Location

It’s important to keep location in mind when deciding on your Raleigh investment property. Overall, our real estate experts recommend looking for homes with proximity to top entertainment picks or easy access to nature. 

For example, Raleigh visitors seek out homes with proximity to the North Carolina Museum of Art, live music venues, and PNC Arena. But if you want to appeal to guests traveling for Family Weekend at one of the local universities, then a short commute to campus is something to look for during your property search.

In general, many five-star reviews from guests specifically mention that they like walkability when staying in Raleigh vacation rentals. So if you’re able to scoop up a home in a central location, even better.

Property Amenities

Since Raleigh boasts comfortable year-round temperatures, travelers will appreciate an updated outdoor space they can relax in. Think cozy seating, protection from the sun, and even a hot tub or fire pit to really wow your guests.

Inside your home, be sure to include all the top-booked amenities to help give your performance a boost. And remember, many Raleigh visitors are families, so providing appropriate amenities can further maximize your rental income. You might even consider making your property pet-friendly to draw in bookers with furry friends.

When you’re ready to explore the market, make your search easier by starting with vetted homes for sale.

Download Our Full Raleigh, NC Vacation Rental Market Analysis

Every year, this North Carolina hotspot attracts millions of travelers with its timeless charm, making it a great option to explore a Raleigh real estate investment.

Whether you’re thinking about buying a vacation rental or capitalizing on the potential of an existing home, download our free Raleigh Area Vacation Rental Market Analysis today to help make your journey smoother. It’s full of useful insights, including: 

  • Average daily rate by property size 
  • Expected seasonality in vacation rental demand
  • Average length of stay in high and low seasons
  • Inventory breakdown based on property size 

Use our free report to equip yourself with key industry knowledge and help make buying a Raleigh investment property as breezy as an afternoon stroll through Museum Park.

Get Your Vacation Rental Market Analysis

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