With so many tourists visiting St. Augustine each year, as an investor, purchasing a rental home in America's oldest city may seem like a no-brainer. The city offers mild weather all year, sun-drenched beaches, family-friendly attractions, and unique Spanish colonial architecture.
However, investing in a rental property requires much more effort than you might imagine. You have to make sure that you perform in-depth research before investing in an area or a property. For instance, you want to know that there is demand for your property.
Rental demand is calculated by combining annual occupancy and listing growth rates to determine how frequently rentals are booked throughout the year. The rental demand score for St. Augustine is 79 out of 100. To put it in context, St. Augustine is halfway between Daytona Beach with a rating of 73/100 and Key Biscayne at 85/100.
Between 2018 and 2021, St. Augustine experienced significant and consistent rental market growth, with just a minor fall during the pandemic. Short-term rental development has slowed in other Florida vacation spots and has not rebounded as swiftly.
Keep in mind that these figures apply to Airbnb only. In recent months, VRBO and other booking sites have been eroding Airbnb's market share, but traditional short-term rentals still account for 10% of the industry. However, we believe that Airbnb demand is a good proxy for short-term rental demand in St. Augustine.
World Golf Village is a highly-rated community in Saint Augustine, FL. It’s known for its sprawling green spaces, spacious lots, and excellently rated middle school. World Golf Village is a residential target for young professionals and families.
The residential community of World Golf Village has several world-class amenities, from golf courses and dining establishments to tennis courts. What’s more, residents don’t have to leave the area to enjoy a good movie, an IMAX theater is located in the community!
Being a planned community, you are assured quality of life that other cities and towns in the area won’t be able to provide. However, you might have to pay a little extra.
Saint Augustin Shores is a tranquil neighborhood just minutes from the historic district that attracts many families and retirees. With a mix of older and newer homes, it's an excellent investment for first-time property purchasers. Condos are another alternative if you don't want to deal with as much maintenance.
Saint Augustine Shores residents like spending time outside thanks to the neighborhood amenities. The area has fifty miles of walking routes that connect to natural spaces, golf courses, and marsh habitats, and Crescent Beach is only 15 minutes away.
If you want to be in the thick of everything, the historic downtown area is the place to be. Homes are more expensive here than elsewhere in the city. The price of the houses here is good for investors willing to take on the risk due to the promise of good returns.
Few areas in the United States provide this much history, superbly preserved period architecture, attractions, shops, and restaurants. Therefore, investors should consider this when looking to buy an investment property in St. Augustine.
Lincolnville is a welcoming, traditional Southern village near the historic district. Lincolnville's housing stock ranges from Victorians to restored cottages with front porches, contributing to the town's sociability.
Developers and investors have recently shown a strong interest in this historic district. Home values are rising as a result. Vacation rentals have proliferated in Lincolnville due to its proximity to the historic district. That said, local groups are working with city officials to help keep some of the neighborhood's residential vibe.
North City is a peaceful choice just north of the main historic core. In North City, you'll find a wide range of architectural styles and reasonably priced homes. The neighborhood is close to everything downtown offers, but without the traffic and headaches that come with peak tourist season.
The main advantage of North City is the abundance of antique shops, casual eateries, coffee shops, and attractions for curious visitors. It's also where the ghost tour of Saint Augustine begins, with a visit to the Old Jail.
Saint Augustine South is a quiet neighborhood with tree-lined streets and picturesque vistas of the inter-coastal waterway. Most homes were built after the 1940s and are well-kept, making it a good investment region.
Dixie Highway runs through the region to the west and is lined with shops and restaurants. Saint Augustine South is a convenient choice for those who work at Flagler Hospital.
Anastasia Island is a relaxed village surrounded by natural preserves and cooled by the sea breezes. The Bridge of Lions, which spans Matanzas Bay connects Anastasia Island to downtown Saint Augustine.
Lighthouse Park is an older, charming neighborhood with mature trees that provide shade all the way to the ocean. Home prices in Anastasia Island vary depending on the age of the building. Anastasia State Park, which has been well conserved, is also a terrific spot to explore nature and has one of Florida's most stunning beaches.
Investing in St. Augustine real estate is a wise decision. There are plenty of beaches, restaurants and desirable neighborhoods in the area. Any of the St. Augustine neighborhoods mentioned above could help you realize your investment goals. That said, you should also work with the correct property manager if you want to maximize your ROI and get peace of mind.
Suncastle Properties will supply you with high-quality property management services. We take care of everything, so you don't have to. We will help you optimize your investment by offering professional property management for your St. Augustine investment property, backed by our years of experience in the field and commitment to exceptional customer service. Contact today to learn about our services.