Vacation Rental Market Analysis: Santa Fe, NM

The Evolve Team
The Evolve Team
December 15, 2022

Known for renowned art galleries, fascinating museums, and comforting Southwestern cuisine, Santa Fe is the ultimate destination for travelers seeking an enriching cultural experience in the scenic Sangre de Cristo foothills.

Offering everything from old pueblo cliff dwellings to vibrant art markets that reflect centuries of eclectic regional influences, “The City Different” draws nearly two million visitors each year — making real estate investment properties in Santa Fe a prime opportunity for potential buyers.

To help you understand the income potential this top vacation rental 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 Santa Fe market averages in the last year and provide a general baseline for performance potential. They’re designed to help inform smart buying decisions when purchasing real estate investment properties in Santa Fe.

Download Our Complete Santa Fe Vacation Rental Investment Analysis

Purple icon of a Southwestern home with cactus, shrub and stars

Why Santa Fe Is a Great Place to Own Vacation Rental Property

Boasting acclaimed destinations like Meow Wolf and the Georgia O’Keeffe Museum, Santa Fe is a well-known artistic hub. Match that with historical sites like Bandelier National Monument and the natural beauty of Santa Fe National Forest, and this Southwest hotspot attracts outdoor enthusiasts, too.

Along with a variety of traveler draws, 325 days of annual sunshine give vacation rental property owners strong business opportunities in three seasons. The most popular months for visiting are March through October, with occupancy peaking in July and August. And while travel is slower in winter, snow bunnies still come to hit the slopes at Ski Santa Fe, bringing owners some November and December bookings.

The median list price in this area hovers just over $570,000. However, opting for a smaller home (like a condo) could put you at a lower starting price, so owners have the opportunity to drive a profit with a variety of Santa Fe investment property sizes.

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

How Much Money Can You Earn with a Santa Fe Vacation Rental?

The area’s timeless charm attracts travelers from far and wide, so investors in the area are well primed to earn ample bookings and solid revenue. To tap into your income potential with a Santa Fe real estate investment, there are several factors to consider.

Property Size

According to our team of experts, performance can be high in Santa Fe across all sizes and bedroom counts. While the data puts one-bedroom properties at the top according to average nights booked, two-, four-, five-, and three-bedroom homes follow closely behind.

With that in mind, larger homes (which could cater to visiting families) make up the smallest portion of available inventory. This means it may take longer to find the just-right one for your Santa Fe investment property. With a higher percentage of one- and two-bedroom homes in the area, investors can see high occupancy on a smaller budget — and find the perfect place for couples or solo getaways.

Property Location

You’ve heard it before: it’s all about location, location, location. Our experts say proximity to area attractions is key to capturing Santa Fe bookings. Look for homes close to downtown where guests can easily walk to Santa Fe Plaza, art galleries, and the Railyard district. Homes near Meow Wolf also give travelers a convenient commute to an acclaimed immersive art experience.

Property Amenities

Our team says one of the most desired amenities in the Santa Fe area is outdoor space. Guests want to take advantage of the sunny days and lounge with loved ones in their own private slice of New Mexico paradise. So, looking for a home with a patio or backyard can give your property an edge over others. Thoughtful furnishings and southwestern decor can also bring your interior design up a notch. So, consider updated homes for sale with adobe-style touches to hit all the right notes with guests.

Of course, you also don’t want to overlook the importance of key profit-driving amenities travelers have come to love. Find a home that you can easily add relaxing features to, like high-speed internet, a fireplace, or a hot tub.

Download Our Full Santa Fe, NM Vacation Rental Market Analysis

Iconic adobe architecture, rich history, and bustling art community invite strong tourism with tons of opportunity for vacation rental earnings. We’ve crunched the numbers to help you make the most of a Santa Fe real estate investment. Download our full Santa Fe Vacation Rental Market Analysis today, and inside, you’ll get:

  • 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

Finding the perfect real estate investment properties in Santa Fe should feel like creating your own work of art. Use our report to evaluate your opportunities with confidence and help you make vacation rental buying decisions with high-earning results.

Get Your Vacation Rental Market Analysis

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