Forget the hotel keycard, because the global vacation rental market is now a staggering $102.5 billion industry and growing at lightning speed, fueled by travelers everywhere seeking the unique comforts of a home away from home.
Key Takeaways
- The global vacation rental market was valued at USD 102.5 billion in 2022 and is projected to grow at a CAGR of 11.6% from 2023 to 2030
- U.S. short-term rental market revenue reached $22.5 billion in 2023, up 15% from 2022
- Europe's vacation rental sector saw a 12.4% YoY growth in bookings in Q1 2024
- U.S. vacation rental occupancy rate averaged 54% in 2023, up 4% from 2022
- Global average occupancy for short-term rentals was 52% in Q4 2023
- Florida STR occupancy hit 65% in peak summer 2023
- Average U.S. vacation rental nightly rate $250 in Q4 2023, up 7% YoY
- Global ADR for entire homes rose 8.5% to $132 in 2023
- Florida beach markets ADR $350+ in peak 2023
- U.S. active vacation rental listings totaled 2.1 million in 2023
- Global Airbnb listings grew 11% to 7.7 million in 2023
- Florida added 50,000 new STR listings in 2023
- 55% of U.S. vacation rental guests were millennials in 2023
- 42% of global travelers prefer vacation rentals over hotels in 2023 surveys
- Families accounted for 60% of U.S. STR bookings in 2023
The vacation rental market grew globally last year as demand and prices rose.
Market Size & Growth
1The global vacation rental market was valued at USD 102.5 billion in 2022 and is projected to grow at a CAGR of 11.6% from 2023 to 2030
Verified2U.S. short-term rental market revenue reached $22.5 billion in 2023, up 15% from 2022
Verified3Europe's vacation rental sector saw a 12.4% YoY growth in bookings in Q1 2024
Verified4Asia-Pacific vacation rental market expected to register highest CAGR of 13.2% during 2023-2030
Directional5Global vacation rental supply increased by 18% between 2021 and 2023 to over 7.5 million listings
Single source6North American vacation rental market size was USD 28.4 billion in 2022
Verified7Latin America short-term rentals grew 25% in revenue in 2023
Verified8Middle East & Africa vacation rental market projected to grow at 10.8% CAGR to 2030
Verified9U.S. vacation rental industry contributed $188 billion to GDP in 2022
Directional10Global online vacation rental market valued at $85.3 billion in 2023
Single source11Canadian short-term rental revenue hit CAD 3.2 billion in 2023
Verified12Australian vacation rental market grew 14% YoY in 2023 to AUD 5.1 billion
Verified13UK short-term lets market size reached £12.4 billion in 2023
Verified14India's vacation rental sector expanded 22% in 2023 driven by domestic tourism
Directional15Brazil vacation rental bookings surged 30% in 2023
Single source16Global vacation rental market share of online platforms reached 78% in 2023
Verified17U.S. STR market projected to hit $30 billion by 2028 at 8.5% CAGR
Verified18Mexico's vacation rental revenue grew 28% YoY to $4.2 billion in 2023
Verified19Spain short-term rental market valued at €8.5 billion in 2023
Directional20France vacation rentals generated €15 billion in 2023
Single source21Global vacation rental ADR increased 9% to $180 in 2023
Verified22China's domestic vacation rental market hit RMB 200 billion in 2023
Verified23Italy's short-term rental turnover reached €10.2 billion in 2023
Verified24South Africa's vacation rental sector grew 16% to ZAR 25 billion in 2023
Directional25Turkey vacation rentals saw 35% growth in 2023 due to tourism rebound
Single source26Thailand's short-term rental market valued at THB 150 billion in 2023
Verified27Global vacation rental listings surpassed 10 million in Q4 2023
Verified28Portugal short-term rentals contributed €3.5 billion to economy in 2023
Verified29New Zealand vacation rental revenue up 12% to NZD 2.8 billion in 2023
Directional30Global vacation rental market forecasted to reach $200 billion by 2030
Single sourceMarket Size & Growth Interpretation
Despite the global economy's best attempts to vacation elsewhere, it seems everyone is now an innkeeper, collectively building a $200 billion behemoth one 'five-star, pet-friendly, with a stunning view' listing at a time.
Occupancy & Demand
1U.S. vacation rental occupancy rate averaged 54% in 2023, up 4% from 2022
Verified2Global average occupancy for short-term rentals was 52% in Q4 2023
Verified3Florida STR occupancy hit 65% in peak summer 2023
Verified4European vacation rentals averaged 48% occupancy in 2023
Directional5Top 10% U.S. markets saw 70%+ occupancy in 2023
Single source6Mexico City vacation rental occupancy rose to 62% in 2023
Verified7Barcelona short-term rentals had 55% annual occupancy in 2023
Verified8Australian beach destinations averaged 68% occupancy during holidays 2023
Verified9Paris vacation rentals peaked at 85% occupancy during 2024 Olympics prep in 2023
Directional10Nashville STR occupancy increased 8% YoY to 58% in 2023
Single source11Bali vacation rental occupancy averaged 60% in 2023
Verified12London short-term lets occupancy at 50% annually in 2023
Verified13Hawaiian Islands STR occupancy 72% in 2023 despite wildfires impact
Verified14Toronto vacation rentals saw 55% occupancy growth post-pandemic in 2023
Directional15Dubai short-term rentals hit 75% occupancy in winter 2023
Single source16Seattle STR demand up 10%, occupancy 56% in 2023
Verified17Costa Rica vacation rentals averaged 64% occupancy in 2023
Verified18Amsterdam banned new STRs, occupancy dropped to 45% in regulated areas 2023
Verified19Phoenix metro STR occupancy 62% in 2023
Directional20Cape Town vacation rentals 70% occupancy peak season 2023
Single source21Vienna short-term rentals occupancy 52% in 2023
Verified22Orlando Disney-area STRs 78% occupancy 2023
Verified23Queenstown NZ vacation rentals 82% winter occupancy 2023
Verified24Global STR demand grew 14% YoY in 2023
Directional25U.S. average RevPAR for vacation rentals $140/night in 2023
Single source26Lisbon STR occupancy fell 5% to 58% due to regulations in 2023
Verified27Myrtle Beach SC occupancy 75% summer 2023
Verified28Global average length of stay in vacation rentals was 4.2 nights in 2023
Verified29Denver STR occupancy 59% in 2023
DirectionalOccupancy & Demand Interpretation
Despite some cities tightening the reins with new regulations, the global vacation rental market is proving remarkably resilient, averaging just over half full but with sun-soaked hotspots and event-driven destinations like Paris and Hawaii hitting the coveted occupancy jackpot.
Revenue & Pricing
1Average U.S. vacation rental nightly rate $250 in Q4 2023, up 7% YoY
Verified2Global ADR for entire homes rose 8.5% to $132 in 2023
Verified3Florida beach markets ADR $350+ in peak 2023
Verified4European cities average STR rate €150/night in 2023
Directional5Top U.S. luxury rentals ADR exceeded $500/night in 2023
Single source6Mexico Cancun vacation rental ADR $220 in 2023
Verified7Barcelona regulated STR average rate €120/night 2023
Verified8Sydney Australia STR ADR AUD 400 in summer 2023
Verified9Paris Olympic-impacted rentals ADR €300+ in 2023
Directional10Nashville music city rentals ADR $280/night 2023
Single source11Bali villa rentals average ADR $180 in 2023
Verified12London STR ADR £200/night annual average 2023
Verified13Hawaii Maui ADR $450 pre-wildfire 2023
Verified14Toronto peak season ADR CAD 350 in 2023
Directional15Dubai luxury STR ADR AED 800/night 2023
Single source16Seattle STR ADR $320 in 2023
Verified17Costa Rica beach rentals ADR $250/night 2023
Verified18Amsterdam STR ADR €160 despite regs 2023
Verified19Phoenix AZ ADR $290 summer 2023
Directional20Cape Town peak ADR ZAR 3500/night 2023
Single source21Vienna STR ADR €130/night 2023
Verified22Orlando ADR $320 Disney area 2023
Verified23Queenstown NZ winter ADR NZD 600 2023
Verified24U.S. vacation rental RevPAR up 12% to $135 in 2023
Directional25Lisbon ADR €140 post-regulation 2023
Single source26Myrtle Beach ADR $280 peak 2023
Verified27Global private room rentals ADR $85 in 2023
Verified28Denver ADR $310 in 2023
VerifiedRevenue & Pricing Interpretation
While our collective wanderlust continues to fuel a global surge in nightly rates—from a modest €130 in Vienna to a staggering $500+ for luxury havens—it’s clear that the cost of chasing sunsets, city lights, or mountain retreats is now a premium experience, with travelers and hosts alike riding the wave of rising revenue per available room.
Supply & Inventory
1U.S. active vacation rental listings totaled 2.1 million in 2023
Verified2Global Airbnb listings grew 11% to 7.7 million in 2023
Verified3Florida added 50,000 new STR listings in 2023
Verified4Europe vacation rental inventory up 9% to 2.5 million in 2023
Directional5Top U.S. markets supply growth 15% YoY 2023
Single source6Mexico STR supply increased 20% to 250,000 listings 2023
Verified7Barcelona listings reduced 10% due to bans to 45,000 in 2023
Verified8Australia added 30,000 vacation homes to inventory 2023
Verified9Paris STR supply capped at 60,000 amid Olympics 2023
Directional10Nashville inventory grew 12% to 15,000 listings 2023
Single source11Bali supply expanded 25% with 40,000 villas 2023
Verified12London active short-term lets 80,000 in 2023
Verified13Hawaii total listings 55,000 despite regulations 2023
Verified14Toronto STR supply 25,000 units 2023
Directional15Dubai vacation rental listings hit 30,000 in 2023
Single source16Seattle supply up 8% to 12,000 listings 2023
Verified17Costa Rica listings grew 18% to 20,000 properties 2023
Verified18Amsterdam supply down 15% to 18,000 licensed 2023
Verified19Phoenix added 5,000 new STRs in 2023 total 22,000
Directional20Cape Town inventory 15,000 homes 2023
Single source21Vienna licensed STRs 8,000 in 2023
Verified22Orlando supply 45,000 listings near attractions 2023
Verified23Queenstown NZ listings 4,500 peak 2023
Verified24Global new listings added 1.2 million in 2023
Directional25Lisbon supply reduced to 20,000 after crackdown 2023
Single source26Myrtle Beach supply 10,000 beachfront units 2023
Verified27Denver inventory 18,000 STRs in 2023
VerifiedSupply & Inventory Interpretation
The vacation rental market is booming globally, yet delicately balanced between explosive growth and regulatory pushback as destinations like Barcelona and Lisbon pull back the reins while Bali and Mexico race ahead.
Traveler Demographics & Preferences
155% of U.S. vacation rental guests were millennials in 2023
Verified242% of global travelers prefer vacation rentals over hotels in 2023 surveys
Verified3Families accounted for 60% of U.S. STR bookings in 2023
Verified468% of European renters aged 25-44 in 2023
Directional5Solo female travelers up 20% in vacation rentals 2023
Single source675% of Mexico STR guests international in 2023
Verified7Gen Z bookings for STRs grew 30% YoY to 25% share in 2023
Verified852% of Barcelona renters from domestic market 2023
Verified9Australian STRs 70% domestic travelers post-COVID 2023
Directional10Paris guests 40% from U.S. in 2023 pre-Olympics
Single source11Nashville STRs popular with 35-50 age group 65% in 2023
Verified12Bali 80% international guests mostly from Australia 2023
Verified13London short lets 55% business travelers in 2023
Verified14Hawaii domestic U.S. guests 85% in 2023
Directional15Toronto 60% couples booking STRs 2023
Single source16Dubai luxury rentals 70% high-income millennials 2023
Verified17Seattle STRs 45% remote workers extended stays 2023
Verified18Costa Rica eco-tourists 55% families 2023
Verified19Amsterdam guests shifted to locals 40% after regs 2023
Directional20Phoenix snowbirds 50+ age 60% winter 2023
Single sourceTraveler Demographics & Preferences Interpretation
While millennials and Gen Z are busy turning vacation rentals into the new social hubs and remote offices, families and couples are claiming their stake for sanity-saving getaways, proving that from Phoenix snowbirds to Bali-bound Aussies, the entire world is now in a relentless, cross-generational pursuit of a home away from home—preferably with good Wi-Fi and a kitchen.
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