2018 Vacation Rental Performance Report: Hilton Head Island, South Carolina

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Hilton Head Island

Boasting an average yearly temperature of a comfortable 70 degrees, with 69 degree sea water temperature to boot, it should come as no surprise that Hilton Head Island is a year-round tourist destination – attracting 2.7 million visitors annually. The island, which occupies 42 square miles on the intercoastal waterway, is known for its peaceful atmosphere and wide range of activities.

Play tennis, golf, explore nature preserves, enjoy fine dining and shopping, or just spend your day lazily relaxing on the beach. Hilton Head Island is the ultimate destination for those looking to escape their busy lives and spend a few days embracing sun, sand, sea, and sightseeing.

You know that Hilton Head is an attractive tourist destination, but as a current or prospective vacation rental homeowner, have you ever considered how can you take advantage of the ever-growing visitor count?

When you’re up against other vacation rentals and resorts, how many bookings should you be getting? What is normal occupancy for low season versus high season? How much should you charge for your nightly rate?

We set out to answer these questions in our 2018 Hilton Head Island Vacation Rental Performance Report, where we take a deeper look into how vacation rental inventory performs on the island.

In the free report, you’ll find:

  • Rental income potential by property size
  • Average occupancy by property size
  • Average daily rate by property size
  • Average length of stay
  • Property inventory by size
  • Occupancy rate by month

Now Is The Right Time to Invest

Unlike places like Disney World that usually attract families with younger children, or locations such as Napa that mostly attract couples – Hilton Head is a destination for travelers of all types and ages.

Because of the diverse demographics that visit this area, vacation rentals have always been popular. They’re not a one-size-fits-all solution. They’re not luxury hotels or family-friendly resorts. They’re unique and can fit a variety of group sizes, needs, tastes, and budgets. And as more people discover Hilton Head Island, the demand for accommodations and different experiences for each traveler grows.

With the right strategy and the right investment, you can find rental success on Hilton Head Island – no matter what size vacation home you choose.

In fact, according to our report, both two bedrooms and four bedrooms get booked for over 60% of the year – adding more evidence to the fact that Hilton Head Island is not just popular for all travelers, but also most seasons.

The price of a Hilton Head Island property is also incredibly accessible. As you’ll see in our report, you can most definitely expect a large return on your investment no matter what type or size rental you choose.

If you just want a small condo near the beach, you’ll receive bookings from couples and even snowbirds in the winter months. According to Trulia, the median price of a two-bedroom is $393,000.

If you’re looking to buy a home near the golf courses, you’ll get bookings from groups of golfers and tennis players, excited to play on world-renowned courses and courts. In the same Trulia report, it’s stated that the median price for a four-bedroom is $675,000.

Hilton Head IslandWhat to expect for yearly income

Per our report, every size and type of vacation rental, from a studio to a five bedroom, performs well when it comes to occupancy and income.

A two bedroom in the 50th percentile will earn around $26,000, while a two bedroom in the 75th percentile can expect about $41,000. Similarly, a four bedroom in the 50th percentile can expect around $97,000, while a four bedroom in the 75th percentile earns almost $116,000.

Both property sizes experience a large increase in income from the 50th to the 75th percentile. But why? The properties in the 75th percentile for income likely were deliberate with their location, updates, and marketing strategy – an investment of time and money that has clearly paid off.

If you’re looking to purchase a vacation rental property in the Hilton Head Island area, or already have one and are trying to gauge your earning potential, download our full Vacation Rental Performance Report to see what you can expect.

Are you missing out on bookings? Could you be increasing your income? At Evolve, we help homeowners across North America maximize their profit while minimizing the hassle. From marketing strategy to dynamic rates to free distribution across the five top listing sites – our teams are here to help you achieve vacation rental success. Click here to see what we do and how we do it – for an industry-low booking fee of just 10%.

 


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The Hilton Head Island Area
Vacation Rental Performance Report

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