Over the past few years Vancouver has become one of the world’s best markets for short term rentals. The combination of a hotel shortage, a quickly increasing level of international prominence, and short term rentals emerging as a leading industry player has caused demand for homestyle accommodations to reach unprecedented heights. Throughout the recent evolution of Vancouver’s accommodation sector, a few neighbourhoods have performed particularly well in terms of the increase in demand and revenue potential. Though we are only highlighting four areas, it’s important to note that many of the city’s top hosts are located outside of these neighbourhoods. While location certainly helps, there are so many other factors, such as the quality of the property and management of the guest experience, that impact success. Here is our list of the top Vancouver neighbourhoods for Airbnb.
It’s probably no surprise that one of the city’s top tourist destinations makes the list. On the waterfront and home to some of Vancouver’s trendiest restaurants, shopping, bars, and entertainment, Yaletown hosts are often charging top dollar to guests who want to be immersed in some of the best the city has to offer. While no short-term rental neighborhood is immune to seasonality, Yaletown is one of the least seasonal areas in all of Canada.
Vancouver’s oldest neighborhood has one of the biggest demand and supply gaps on the short-term rental market. With great attractions, dining options, and nightlife it is a must visit spot for many. During the peak times, it can feel near impossible for guests to book a place in Gastown at an affordable rate. For hosts, this can mean that managing prices closely and waiting until the competition sells out during these high demand periods can bring exceptional income.
The city’s West End is one of the most popular places to explore for visitors looking for a complete Vancouver experience. There is a lack of concentration of hotels in the West End between Robson Street and Davie Street which is a nice pocket to operate for short-term rental hosts, especially those on Booking.com and Expedia. The rental demand has moved up consistently and rates are staying strong as a result.
The only neighborhood on the list that is not downtown, it’s one of the best places to rent a homestyle accommodation for those looking to ‘live like a local’. Several of Vancouver’s most acclaimed restaurants are based here and South Granville provides some of BC’s most unique shopping options for both tourists and residents. There are almost no hotels in Fairview when compared to downtown so the Airbnb scene has really heated up recently.
So there you have it! Our list of some of the top Vancouver neighbourhoods for Airbnb. While hosts in these neighborhoods have experienced significant demand growth recently, given how strong the market is in all of Vancouver, almost every area in and around the core has significant income potential. Be sure to list on sites outside of just Airbnb and follow hosting best practices to generate five star reviews that will get you those rockstar bookings.