Learn from AirDNA’s data how the April 2024 total solar eclipse is influencing STR demand across North America, and what it means for your vacation rental business.

Viewing the 2024 Solar Eclipse Through a STR Lens: Trends and Takeaways

Cities in the 2024 solar eclipse path saw occupancy rates surge to 88%, demonstrating the significant impact of unique events on STR demand.

ADR modestly increased outside the eclipse path but significantly by 18.4% within it, showing the potential for dynamic pricing during special events.

The eclipse underscores the need for STR hosts to adopt predictive positioning, dynamic pricing, and tailored marketing for future unique events.

Short-term rental hosts are gearing up for a day when the sun's absence is their brightest moment.

On Monday, North America will witness a total solar eclipse, an event surpassing the scale and duration of its 2017 predecessor. Starting on Mexico’s Pacific coast, it will traverse through Texas, sweep across 14 other U.S. states, and exit over Canada. 

With the moon cloaking the sun for up to 4 minutes and 28 seconds, cities such as Dallas, Indianapolis, and Cleveland will be directly under the path of totality. The path of totality is the stretch where the moon appears between the earth and the sun and blocks the sun completely.

An unprecedented number of spectators are expected, with approximately 44 million people living within the path and hundreds of millions more within driving distance. This potentially makes it the continent’s most extensive eclipse viewership.

When nature puts on a headline act, travelers are more than willing to come from far and wide.

This rare astronomical event has significantly impacted the short-term rental (STR) market. Cities and towns located within and near the path of the eclipse have experienced a surge in demand as millions seek the perfect vantage point to view the event. 

Although the opportunity to capitalize on this specific eclipse has passed (everyone’s pretty much locked and loaded!), it’s crucial to understand the emerging patterns. Short-term rental owners can use this knowledge to prepare for future events, develop pricing strategies, and leverage local attractions or events to enhance occupancy and revenue.

Plan your STR strategy based on real booking activity and trends—plus, see how things change year over year.

While AirDNA’s initial investigations into the pace of eclipse demand focused on a few locations— Dallas and Austin, for instance—interest in viewing the eclipse from the path of totality has increased and spilled over into a broad swath of potential viewing spots.

AirDNA has identified 2,332 cities in Mexico, the U.S., and Canada in the path that have active STR listings in an effort to quantify this event's effect. Collectively, these cities host more than 110,000 active listings during the week of the eclipse. 

Unprecedented Occupancy Rates in the Path of Totality

The anticipation of the solar eclipse has transformed an otherwise ordinary Monday into a lucrative opportunity for STR hosts located within the path of totality. As of March 25th, occupancy rates for April 7th have soared to an impressive 88% across all listings. This represents a massive surge in demand for accommodations on the night before the big celestial event.

The data visualization below clearly captures this surge—you can trace the path of totality by the swath of bright red across the map. 

This kind of data offers hosts a clear signal: when nature puts on a headline act, travelers are more than willing to come from far and wide, seeking the perfect spot to witness the spectacle. 

The top 25 cities with highest occupancy for the eve of the eclipse on April 7th include cities from Texas, Oklahoma, New York, Ohio, Arkansas, Indiana, and Vermont. Austin, Texas has the most listings at approximately 9,600, almost double the second largest STR market on this list, Dallas. They boast an 86.9% and 95.3% occupancy for April 7th, respectively.

Perhaps unsurprisingly, some of the highest occupancy rates are in smaller towns with fewer listings. Buffalo, New York, is experiencing a 98.2% occupancy rate among its 1,297 STR listings. Jefferson, Vermont, with 512 listings, has the highest occupancy rate at 99.2%.

How Far Eclipse Tourists Are Willing to Travel

Astrotourism is getting a big boost thanks to the eclipse as people journey from all corners of the country to witness it firsthand. A state of emergency has been declared in major cities along the path of totality due to the expected large crowds.

At AirDNA, we got curious. Where is everyone coming from? Which cities are getting a larger market share compared to others? Is there a specific region that was popular among long-distance eclipse chasers? 

To answer these questions, we traced the journeys of eclipse watchers from remote areas of the country to the popular urban destinations along the path of the eclipse.

Using data from Arrivalist, we analyzed the travel patterns of tourists in 14 cities along the path of totality, mapping their origins from the top 50 cities. The visualization below illustrates how popular each location was among both local and distant travelers.

As the eclipse draws near, cities like Austin, TX, and Dallas, TX have emerged as prime destinations, attracting travelers from both coasts and beyond.

Yet, the allure of totality extends far beyond the Lone Star State. Indianapolis was a tourist hotspot, drawing visitors from Chicago, Detroit, New York, Seattle, and Los Angeles. Even cities like Buffalo, NY, and Syracuse, NY were popular spots for eclipse chasers as visitors converged to witness the spectacle against the backdrop of Niagara Falls.

In conclusion, the total solar eclipse brought people from all over the country to cities along its path due to their proximity and accessibility, resulting in a diverse crowd gathering to witness the event.

Demand Pacing for Locations Outside the Path 

While the path of totality is the center of attention, what about locations near the path that still offer decent views?

Not all views are created equal—and the booking data reflects this. The graph below breaks down demand pacing into three categories based on proximity to the eclipse’s path of totality. This approach allows us to control for external factors and isolate the true impact of the eclipse.

We look at three sample groups with varying proximity to the path:

Listings Outside Eclipse States: This group includes all the listings in the U.S. that are not in states traversed by the path of totality, providing a baseline for places with no direct eclipse effect.

Listings in Eclipse States but Outside the Path: These listings are in the states the path of totality moves through but are not directly in the path themselves, offering insights into the partial eclipse effect.

Listings Directly in the Path of Totality: This final group consists of listings located directly within the path of totality, measuring the full impact of the eclipse.

Exhibit a modest growth in demand pacing at 3.9% YOY.

This pacing is slightly lower than in 2023, likely due to the early Easter calendar shift. The shift changed many Spring Break dates from the second week of April to earlier weeks.

Listings in Eclipse States but Outside the Path:

See a significant uplift in interest, with demand pacing 22.4% higher than the same week in 2023.

A substantial rise indicates the strong appeal of partial eclipse views.

Listings Directly in the Path of Totality: 

Experience a skyrocketing demand, with a pacing increase of 207.4% YOY for the eclipse week.

The data shows the high-value that guests place on the total eclipse experience.

The solar eclipse's impact on pricing within the STR market is distinct and varies by location. Here's a clearer breakdown of what this means:

In the U.S., the average daily rate (ADR) for states outside of the eclipse path has not changed significantly and remains flat. This means that even with the eclipse, it hasn’t affected what hosts can charge per night in these areas.

There has been a very slight increase in ADR for states that the path of totality passes through. For listings that are not directly in that path, though, the increase is less than one percent. This indicates that hosts near the eclipse's path are not charging much more than usual.

However, for listings directly in the path of totality, the ADR has increased by 18.4% compared to the previous year. When there's high demand for a certain location (in this case, because of the eclipse) and the occupancy rate goes up, hosts in these areas have more power to raise their prices.

Demand pacing is the rate at which reservations are made for a particular date in the future. As you’ll see in the chart below, listings within the path of totality exhibit demand pacing that eclipses (no pun intended) those outside of it. 

New Hampshire and Missouri are seeing the highest year-over-year (YOY) increases at 514% and 338%, respectively. Significant events can create a ripple effect, increasing pricing power for STR listings positioned within the epicenter of traveler interest.

AirDNA’s powerful yet easy-to-use tools make hosting and investing a breeze. This means having every insight you need, all in one place, always up-to-date.

An Eclipse Pricing Paradox: How ADR and Occupancy Interact Along the Eclipse Path 

A somewhat puzzling story unfolds as we sift through the ADR figures against the backdrop of occupancy rates. In an unexpected twist, New Hampshire, Missouri, and Maine—all positioned within the path of totality—are recording some of the smallest increases in ADR. Maine is even seeing a downturn. Contrary to what one might expect, it’s as if guests are haggling for a bargain in the very spots where the eclipse can be seen in its full splendor.

The occupancy data, however, sheds light on this conundrum. 

The graph below contrasts ADR growth with occupancy levels across various states, revealing a paradox where some regions in the path of totality see unexpectedly lower ADR growth despite high demand for the solar eclipse. Those states have yet to reach the 50% occupancy threshold within the path of totality, pointing to a marketplace where options abound and competitive pricing reigns supreme. 

Where occupancy is tighter, and choices are few (such as in Texas, Vermont, and Pennsylvania), hosts are more likely to notch up their rates. This is different for Maine and New Hampshire, where an April eclipse does little to dispel the usual seasonal quiet. In these cooler climates, even a significant uptick in year-over-year demand does little to tighten the market, leaving guests in a sweet spot to secure a stellar view without a price that shoots for the stars.

Mapping the Eclipse's Influence on North American STR Markets

In terms of total demand growth YOY, it’s the U.S. that runs away with the top spot. The U.S. is nearly tripling visitation for the week of the Eclipse and hosting well more than five times the usual number of guests on April 7 for places in the path of totality. Although the U.S. occupancy rate isn’t quite as high as Mexico’s, 90.7% on April 7 as of March 25 is still an incredible achievement. The U.S. represents about 80% of the total available North American STR listings in the path of totality, at 88,421.

Canada, meanwhile, has much lower occupancy but substantial ADR growth. The usual April downturn in STR demand, as travelers and locals seek warmer climates, is offset by eclipse watchers seeking premium accommodations typically reserved for the summer. This is allowing for notable increases in ADR.

Mexico has the highest occupancy rate but shows the least change in ADR. April is considered a peak season due to Spring Break, resulting in high ADR. The additional demand from the eclipse does not significantly alter the existing high prices. This means that visitors coming for the eclipse may find that the most luxurious accommodations are already booked. Hosts are weighing the current demand against a busy and high-priced comparison period in the previous year.

5 Strategic Implications for Short-Term Rental Hosts and Investors

The 2024 total solar eclipse has provided an insightful case study into how unique events can affect the dynamics of the STR market. Here are several implications for hosts and investors to consider for future events:

Use market data to predict which locations may experience surges in demand due to unique events. Being ahead of the curve can position hosts to optimize their pricing and availability. Using an Airbnb calculator based on up-to-date data can help determine a property's potential revenue.

Implement dynamic pricing models that respond to increased demand, particularly for properties in prime locations during special events. This could mean adjusting prices as occupancy rates climb, leveraging the principle of compression to maximize revenue. 

Tailor marketing strategies to highlight the advantages of properties based on their occupancy trends. For areas with lower occupancy, focus on value and unique experiences. For high-demand locations, emphasize exclusivity and premium features.

Recognize the influence of seasonality patterns on rental returns. It’s important to strategize on how to prepare for peak season and make the most of the low season. 

Consider the long-term impact of recurring or predictable events when making investment decisions. Properties in areas that regularly host major events may offer greater potential for high yield, especially during those peak times. Keep abreast of market trends and be sure to check out our Best Places to Invest Outlook Report. 

With the total solar eclipse nearly upon us, you're likely preparing to gaze upward (just don't forget those viewing glasses!).  It's also a great time to contemplate how significant events can affect trends and markets in the STR industry. While the next major event may not be a solar eclipse (it could be anything from a Taylor Swift concert to the Superbowl), one thing is sure - you won't be able to ignore its impact on your STR business and how you manage it.

Gain insights into the revenue and occupancy trends in your market.

Explore how the solar eclipse is shaping STR demand and pricing, with key takeaways for maximizing your property's potential during major events.

Eclipse Influence on North American STR Markets

5 Strategic Implications for STR Hosts and Investors

Airbnb Occupancy Rate: Insights and Tips

Key Takeaways
The Airbnb occupancy rate is a vital metric for success and is calculated by dividing the number of booked nights by the available nights. The occupancy rate reflects how often your property is rented out compared to its availability.
Understanding and monitoring your occupancy rate is key to maximizing earnings, as it indicates property performance and influences pricing and marketing strategies.
How you interpret your occupancy rate is essential; high and low occupancy rates don’t always mean what you think.

Successful Airbnb hosts are obsessed with bookings, and for good reason—it’s the name of the vacation rental game.

When hosts talk about Airbnb bookings, they're really talking about occupancy rate: the percentage of available nights that guests book. Monitoring your occupancy rate is important because it shows how well your Airbnb stacks up against the competition. The occupancy rate can also indicate whether you need to switch up your strategy or pricing to boost your rental income.

Whether you’re new to short-term vacation rentals or an industry expert, it’s important to understand the methodology and best practices behind your occupancy rate. 

Learn about short-term rental data

What is Airbnb Occupancy Rate?

In its simplest form, the occupancy rate is the percentage of time a vacation rental property is booked compared to the time it is available for bookings. 

To make understanding occupancy rate easier, let's use a straightforward example.

Imagine you own a cabin that's available for guests all year. That means it could potentially be booked for 365 nights. Throughout the year, guests book your cabin for 90 of those nights. We can use that number to calculate the occupancy rate and see how often your property was rented out compared to its availability. 

By dividing the booked nights (90) by the total available nights (365) and multiplying by 100 to get a percentage, we find an occupancy rate of approximately 25%. This means your cabin was rented out for about a quarter of the year.

Reasons Why Your Occupancy Rate Matters
Maximize Revenue Potential: Physical products can be sold at any time if they’re not immediately purchased. However, a vacant vacation rental represents a unique challenge. If a property goes unbooked for a night, it's impossible to "sell" that night again. Each unbooked night directly translates into a tangible loss of potential income. That’s why the occupancy rate is crucial for owners looking to maximize their earnings. 
Reveal Property Performance Insights: Consider two similar properties in the same location. Property A consistently achieves an 80% occupancy rate, while Property B struggles to reach 50%. This stark difference signals that Property A might be better aligned with guest preferences or have better marketing. Analyzing occupancy rates helps identify performance gaps and areas for improvement, whether that's improving your listing or adjusting pricing strategies to meet market demand.
Determine Market Demand and Inform Pricing Strategies: High Airbnb occupancy rates indicate strong market demand, while low occupancy rates can reflect lower demand. This information informs your pricing strategy. Let’s consider an apartment near a convention center that has high occupancy during events but low occupancy rates otherwise. This trend suggests that you may want to consider adjusting your rates in relation to the convention center’s event calendar. Dynamic pricing takes into consideration trends like this and uses them to optimize revenue during peak and off-peak times.
Guide Investment and Enhancement Decisions: Evaluate occupancy rates before and after making upgrades, like installing high-speed internet or renovating the kitchen, to assess the return on investment (ROI). This analysis is crucial for prioritizing property improvements that make your listing more appealing and, subsequently, improve the occupancy rate.

Learn about Dynamic Pricing

How to Calculate the Airbnb Occupancy Rate

Understanding the occupancy rate of your Airbnb property is pivotal for optimizing your rental strategy. Yet, it all comes down to a single equation.

Airbnb Occupancy Rate Calculation

Reserved Days / Available Days x 100 = Occupancy Rate

With that in mind, here's a simple guide on how to find Airbnb occupancy rates:

Step-by-Step Calculation
Determine the Total Number of Reserved Days: Start by counting how many days guests booked your property over a specific period of time, usually 12 months. 
Identify the Total Number of Available Days: Calculate the total days your property was available for booking over the same time period, excluding any days you blocked off for personal use.
Calculate the Occupancy Rate: Divide the total number of reserved days by the total number of available days, then multiply the result by 100 to convert it into a percentage. These steps represent AirDNA’s version of an Airbnb occupancy rate calculator.

Example Calculation:

Imagine you own a house on the water in North Carolina and you're evaluating its performance on Airbnb over the last 12 months. The property was available for 340 days and booked for 240 days within this timeframe.

Reserved Days: 240

Available Days: 340

Occupancy Rate Calculation: 240/340 x 100 = 70.58%

Calculate potential earnings

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Interpreting Your Occupancy Rate

While a 70% occupancy rate may seem ideal, signaling guest satisfaction and consistent revenue, it's essential to delve deeper. High occupancy could indicate underpricing, meaning you might be missing out on potential income. It's crucial to balance occupancy with your average daily rates (ADRs) to maximize revenue. 

Think about it: A property with a 50% or 60% occupancy rate could earn more revenue than one that’s booked 70% of the time. It’s all relative to pricing. A property booked more often at $100 per night may not outearn a property that’s booked less often at $300 per night.

It’s important to ask yourself: Do I want higher occupancy or higher average daily rates (ADRs)? An accurate data tool can help you sort out which strategy is best for your bottom line. (Why guess when you can know exactly what you should be charging guests?)

What is a Good Airbnb Occupancy Rate?

Average Airbnb occupancy rates vary from market to market and year to year. You can see how the national average occupancy rate has fluctuated:

Trailing twelve months (TTM), March 2023 to February 2024: 55.1%
2023: 55.4%
2022: 58.6%
2021: 60.3%

The occupancy rate in 2022 reflects a recovery trend in the industry after the pandemic brought the average occupancy rate into the low fifties in 2020.

Determining a "good" rate is less about finding a universal number and more about understanding local market conditions, historical performance, and your personal goals for the property. Knowing your market's average helps inform decisions on pricing, marketing, and operations.

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Average Airbnb Occupancy Rates by City: Top 10 Highest Occupancy Rates

If you’re new to the short-term rental market, understanding the average airbnb occupancy rates by city can help you choose a location that’s likely to generate a healthy revenue.

These markets had the highest trailing twelve-month short-term occupancy rates (March 2023 to February 2024):

Kauai, Hawaii: 74.4%
Oahu, Hawaii: 73.4%
Maui, Hawaii: 72.4%
Maine DownEast/Acadia Coastal: 67.7%
Big Island, Hawaii: 67.1%
New York City: 65.5%
Denver: 65.3%
Anaheim, California: 65.2%
Boulder, Colorado: 64.3%
 Outer Banks, North Carolina: 64.3%

Many of the markets with the highest occupancy rates are located in Hawaii. However, seeing as the vacation rental market in Hawaii is subject to fairly heavy restrictions, let’s consider the markets with the highest occupancy rates in the contiguous U.S.

Maine DownEast/Acadia Coastal: 67.7%
New York City: 65.5%
Denver: 65.3%
Anaheim, California: 65.2%
Boulder, Colorado: 64.3%
Outer Banks, North Carolina: 64.3%
San Diego: 64.2%
Sarasota, Florida: 64.1%
Lincoln City/Newport, Oregon: 64%
Gatlinburg/Pigeon Forge, Tennessee: 63.9%

Average Occupancy Rates by City: Top 10 Lowest Occupancy Rates

The average Airbnb occupancy rates by city in the following areas leave hosts wanting more. These markets currently have the lowest trailing twelve-month occupancy rates:

Oxford, MS: 34.9%
Big Bear, CA: 39.6%
Southbend, Indiana: 40.4%
Texas East Area: 41.4%
College Station, Texas: 41.8%
Mississippi area: 42.1%
Augusta, Georgia/South Carolina: 42.8%
Pocono Mountains, Pennsylvania: 43.2%
California South area: 43.7%
 Louisiana area: 43.9%

If you’re looking to invest in vacation properties, avoid these markets because you likely won't get a good ROI. Property managers and hosts in these markets may need to lower their rates to encourage guests to book with them rather than other Airbnbs.

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Why Airbnb Occupancy Rates Differ from Hotels 

Hotels offer a consistent product and pricing strategy, but STRs vary widely in terms of property type, location, amenities, and host engagement. It’s crucial to assess STR occupancy differently than traditional hotel occupancy in order to accurately reflect performance in the vacation rental market.

AirDNA only considers active listings in its occupancy rate calculations, whether it’s for a specific market or when someone uses our Airbnb calculator. We define active as having at least one calendar day classified as reserved or available during the reporting period. If we included every available night from every available listing in our occupancy calculation, it would return a falsely low occupancy rate. This is due to variations in vacation rental host behaviors and motivations. We’re talking about host attentiveness in managing listing calendars and their responsiveness to reservation requests.

Here are three host cases that would falsely skew occupancy downward if we included them in the occupancy rate calculation: 

Event-Based Hosts: Hosts who list properties temporarily to take advantage of specific events, causing temporary market fluctuations that don’t reflect regular hosting activity.

"Make Me Move" Hosts: Hosts who set their prices significantly above the market rate, using Airbnb as an opportunistic platform rather than a committed hosting venue.

Dormant Listings: Properties that appear available but haven't seen a booking for months, often due to a shift in host priorities or property usage.

AirDNA ensures that its occupancy rate calculations reflect genuine market activity and trends by focusing on active listings. We stand by the accuracy of our data and use this methodology to help stakeholders understand the true dynamics of the STR market. Our insights are distinct from those that can be gleaned from hotel occupancy data.

How to Get High Occupancy on Airbnb

Occupancy rate may not be a complete picture of your property’s performance, but it’s still important. After all, you’re only making money if guests are staying at your property. If your occupancy rate is falling short of expectations, take these data-driven steps to learn how to increase occupancy rate on Airbnb. 

Increase Your Airbnb Occupancy Rate

Occupancy Rate is Just the Beginning  

According to ou annual best places to invest report, most of the destinations at the top of the list have occupancy rates of 60-70%. If you're interested to learn more about a market's occupancy rate, visit the AirDNA app.

While Airbnb occupancy rates are important, you need to track a range of metrics to assess how your Airbnb is performing overall. Our insights can help you optimize your properties for the best possible occupancy rate, average daily rate (ADR), revenue per available rental (RevPAR), and overall profitability.

Frequently Asked Questions:
What is a good occupancy rate for an Airbnb?

There is no universal “good" occupancy rate. Determining whether your occupancy rate is optimized requires understanding local market conditions, historical performance, and your personal goals for the property. Keep in mind that lower occupancy rates don’t necessarily indicate lost revenue. If you are charging a higher average daily rate, you might not need as many bookings to make as much money as a competitor with higher occupancy but a lower nightly rate.

Where can you see Airbnb occupancy rates?

You can see the occupancy rate for your listing as well as that of competitors in the area on your AirDNA dashboard. 

Find out what “Airbnb occupancy rate” refers to, how to calculate it, and tips for improving your occupancy rate and increasing your STR income.

Viewing the 2024 Solar Eclipse Through a STR Lens: Trends and Takeaways

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