For the 4th of July, Americans favor coastal destinations, with a 7.7% increase in bookings. Popular spots include Gulf Beaches and Santa Rosa, FL. Urban bookings declined by 10%, impacted by New York's rental restrictions.
Where are Americans spending their 4th of July this year? According to data-driven insights from AirDNA latest monthly review on the U.S. short-term rental market. Summer bookings, particularly beach reservations for July 4th, are seeing substantial growth. Coastal destinations are the clear favorites, with 1.63 million nights already booked – a 7.7% increase from last year. Traditional beach hotspots are seeing impressive growth:
Gulf Beaches (+34%)
Santa Rosa/Rosemary Beach, FL (+22%)
Panama City, FL (+28.8%)
New York City has dropped out of the top 10 most booked destinations, replaced by the Delaware/Maryland Beaches. This change is largely due to New York’s crackdown on short-term rentals, reducing supply by 82.5% in May 2024 (YOY). Urban destinations overall have seen a 10% year-over-year drop in bookings for the July 4th weekend. Small city and rural destinations have seen the largest growth, with demand up 10.6% over last year.
Top Destinations Based on Booked Nights for 4th of July:
Orlando, FL ($304.81/night)
Myrtle Beach, SC ($361.54/night)
Gulf Shores/Mobile, AL ($482.37/night)
Santa Rosa/Rosemary Beach, FL ($650.63/night)
Panama City, FL ($410.26/night)
Affordable Options:
For those looking for more budget-friendly options, Fayetteville, NC, stands out, offering proximity to popular but expensive markets like Lake Norman and Myrtle Beach. Other affordable spots include:
El Paso, TX ($136.66/night)
Fort Wayne, IN ($138.59/night)
Las Cruces, NM ($143.25/night)
While AirDNA predicted that 2024 would be a turning point for the STR industry, the year’s ups and downs have made it hard to say for sure. Thankfully, a fantastic May and strong forward-looking pacing data are some of the best signs yet that the industry is on a growth path again – and has been throughout 2024.
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