Vacation Rental Market Analysis: Flagstaff, AZ

The Evolve Team
The Evolve Team
August 7, 2023

The city of Flagstaff naturally sets itself up as Arizona’s high country oasis, where nearby Phoenix and Sedona residents — as well as snowbirds, roadtrippers, and hiking enthusiasts across the country — all flock for outdoor fun. 

Surrounded by the Coconino National Forest, Flagstaff provides the ideal access point to the area’s most sought-after spots for over 6 million visitors each year — like the Lava River Cave, the Lowell Observatory, and the Arizona Snowbowl (where you can actually catch views of the Grand Canyon!). 

All of this makes a Flagstaff investment property a lucrative opportunity for interested buyers. To help you understand the income potential of the Flagstaff rental 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 Flagstaff real estate market averages in the last year and provide a general baseline for performance potential. They’re designed to help inform your decisions when buying a Flagstaff investment property.

Download Our Complete Flagstaff Rental Market Investment Analysis

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

Why Flagstaff Is a Great Place Own Vacation Rental Property

With mild winters and comfortable summers, travelers of all budgets, group sizes, and hobbies visit Flagstaff throughout the year. Summertime tends to offer the highest occupancy rates, but that doesn’t mean vacation rentals lack interest in other months. Plus, our real estate experts say your bedroom count can range from one to six and still see consistent annual performance.

Median home values in the Flagstaff rental market currently sit just under $660,000. While this is significantly above the national average, the Flagstaff real estate market is more affordable than nearby Sedona — and could be the perfect place to start a profitable side hustle.

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

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

As a haven for outdoor activities and easy access to some of the Southwest’s most iconic natural landmarks, Flagstaff’s year-round tourism presents the opportunity for a steady income stream. In order to gauge just how much you can make with a Flagstaff investment property, consider these important factors.

Property Size

The most popular homes in the Flagstaff real estate market have space to accommodate families or larger groups. That said, it’s important to note that four- and five-bedroom homes make up the smallest portion of available inventory, so scooping up a smaller property could be easier for investors.

One-, two-, and five-bedroom Flagstaff vacation rentals all see a similar number of annual nights booked, though one-bedrooms top the range. The real difference is in the average daily rates. Five-bedroom homes have the potential to charge the highest here since they can accommodate larger groups of people. But again, three- and four-bedroom homes can still see strong performance and could have lower upfront costs — so you don’t want to rule them out entirely. 

Property Location

Homes with easy access to both in-town fun and outdoor recreation tend to reign supreme in the Flagstaff rental market. Many travelers are booking homes within five miles of the downtown area for easy access to both the best eateries and historic city blocks, while also not being far from fan-favorite nature excursions like hiking Humphreys Peak or snowshoeing through the Arizona Nordic Village.

So while a cozy cabin or luxury home on the edge of the national forest could draw in those craving a remote getaway, interested buyers should look for a Flagstaff investment property that gives guests the best of both worlds. It can help you lock in more bookings at high average daily rates.

Property Amenities

With a lot of opportunity to explore outside the home, your property should be the ideal place for guests to recharge and have an experience worthy of a five-star review

Our team recommends looking for a home with a hot tub, fireplace, pool table, or game room, given our top-performing Flagstaff vacation rentals have one or more of these relaxation-forward features. And since families, couples, and solo travelers alike flock to Flagstaff, providing an updated outdoor space (like a deck, porch, or balcony) can give guests another opportunity to enjoy the weather and increase the draw to your property.

As always, don’t forget to focus on the essential amenities that help everyone feel cared-for on vacation. Make sure you can provide reliable, high-speed WiFi to support business travelers or anyone working remotely. Add local touches to your interior design to really make guests swoon. Keep travelers’ needs in mind by taking note of day-to-day details, too — like the kitchen’s accessibility or central air conditioning. These features can really help drive your vacation rental success.

Download Our Full Flagstaff, AZ Vacation Rental Market Investment Analysis

With endless recreation in the nearby peaks and refreshing alpine weather providing relief from the notorious Arizona heat, the Flagstaff rental market presents clear income potential. Make the most of your Flagstaff investment property by downloading our free Vacation Rental Market Analysis today

Inside you’ll find:

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

While Flagstaff sits at nearly 7,000 feet in elevation and has relatively low humidity, we won’t leave you high and dry when evaluating your investment opportunities. Use our expert insights to help make your vacation rental journey as refreshing as Flagstaff’s crisp mountain air.

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