Top 10 Colorado Cities for Short-Term Rental Investments in 2024
Investing in short-term rental properties, particularly through platforms like Airbnb, has become increasingly popular in Colorado. With its stunning natural beauty, vibrant cities, and robust tourism industry, Colorado offers numerous opportunities for profitable short-term rental investments. In this article, we highlight the top 10 Colorado cities for short-term rental investments in 2024, focusing on emerging markets and high-demand areas.
Denver, the state capital, remains a top destination for short-term rental investments. The city's thriving cultural scene, sports events, and business conventions attract a steady stream of visitors year-round. Neighborhoods like LoDo, Capitol Hill, and Highlands are particularly popular for Airbnb rentals due to their proximity to major attractions and vibrant nightlife​ (Colorado Realty & Property Management)​.
Known for its picturesque setting at the base of the Rocky Mountains, Boulder is a hotspot for tourists and outdoor enthusiasts. The city's high demand for short-term rentals is driven by visitors coming for hiking, rock climbing, and the University of Colorado events. Boulder’s strict short-term rental regulations mean less competition and potentially higher returns​ (Hostaway)​.
Colorado Springs offers a mix of natural beauty and urban convenience, making it a desirable location for short-term rentals. The city's attractions, such as Garden of the Gods and Pikes Peak, draw millions of tourists annually. Investment opportunities are abundant in neighborhoods like Old Colorado City and Manitou Springs​ (Colorado Realty & Property Management)​​ (Hostaway)​.
Breckenridge is a premier ski destination with a thriving short-term rental market. Its popularity peaks during the winter months, but the town also attracts visitors in the summer for hiking, mountain biking, and festivals. Investing in Breckenridge can yield high returns, especially for well-located properties close to the ski slopes and downtown area​ (Hostaway)​.
Aspen is synonymous with luxury and attracts affluent tourists from around the world. The high demand for upscale accommodations makes Aspen an excellent market for short-term rental investments. Properties in Aspen command premium rental rates, especially during the ski season and major events like the Aspen Music Festival​ (Hostaway)​.
Vail, another world-renowned ski resort town, offers excellent investment opportunities for short-term rentals. The town’s year-round appeal, with activities like skiing, hiking, and cultural events, ensures a steady flow of visitors. Properties near Vail Village and Lionshead Village are particularly lucrative​ (Hostaway)​.
Fort Collins, home to Colorado State University, has a robust rental market driven by students, tourists, and business travelers. The city's vibrant downtown, craft breweries, and proximity to outdoor recreation areas make it a desirable location for short-term rentals. Neighborhoods near the university and Old Town are prime investment areas​ (Colorado Realty & Property Management)​.
Granby, located near the western entrance to Rocky Mountain National Park, is an emerging market for short-term rentals. The town's appeal lies in its access to outdoor activities such as hiking, fishing, and skiing at the nearby Granby Ranch. Granby's affordability compared to more established resort towns makes it an attractive option for investors​ (Hostaway)​.
Grand Lake, known for its stunning namesake lake and proximity to Rocky Mountain National Park, offers a unique blend of natural beauty and small-town charm. The town attracts visitors year-round for boating, fishing, and hiking in the summer, and snowmobiling and ice fishing in the winter. Investing in short-term rentals in Grand Lake can yield high returns due to the town’s popularity as a tourist destination​ (Hostaway)​.
Steamboat Springs, known for its ski resort and natural hot springs, attracts tourists year-round. The town’s family-friendly atmosphere and diverse activities make it a popular destination. Short-term rentals in Steamboat Springs, especially those close to the ski area or downtown, can generate substantial income​ (Hostaway)​.
Conclusion
Investing in short-term rentals in Colorado can be highly profitable, especially in these top cities. Each location offers unique attractions and opportunities that cater to different types of visitors. Whether you’re looking to invest in a bustling city like Denver or a serene mountain town like Steamboat Springs, Colorado’s diverse real estate market has something to offer every investor.
Good Neighbor Realty’s brokers are experts in local legislation and regulations regarding short-term rentals. They can provide invaluable guidance to ensure you comply with all local laws, maximizing your investment's potential while avoiding legal issues. By focusing on these high-demand and emerging markets, you can make informed investment decisions and capitalize on Colorado's thriving short-term rental market in 2024.