Gain an edge with short-term rental comps

A competitive set, (we often call them comp sets) is a group of comparable properties that share key characteristics with your vacation rental. They help you understand your true position in the market by showing you real performance data from similar properties. While traditional real estate comps focus on property value, short-term rental comps compare factors like pricing, occupancy, and revenue to help you optimize your ongoing performance. Comp sets allow you to do everything from see when competitors adjust pricing for events or seasons, to set realistic occupancy expectations for the future.

When you connect your listing, we automatically identify up to 100 similar properties in your area based on location, property type, and square feet. Each property receives a Match Score (minimum 70) indicating how similar it is to yours. You can then refine this comp set using filters to make sure you're comparing yourself against truly relevant properties.

The vacation rental market is dynamic, with new properties entering the market and existing ones updating their offerings regularly. We recommend reviewing your comp set monthly and making adjustments quarterly. This helps you stay on top of market trends and make sure your pricing strategy remains competitive throughout the year.

While the Performance Dashboard is only compatible with Airbnb listings, our vacation rental comps include both Airbnb and Vrbo performance data, giving you a complete picture of your market regardless of where you list your property. This cross-platform visibility helps you understand the entire competitive landscape, and compare your listing performance to others on different sites. 

Every host has different business goals, and you can get a deeper understanding of property management performance metrics here. A good way to get started is by comparing these key performance indicators: Average Daily Rates (ADR), occupancy rates, booking patterns, revenue performance, booking lead times, and amenity offerings.

Focus on multiple aspects of your business strategy when you’re analyzing your data against vacation rental comps. Start by adjusting your pricing strategy based on market demand patterns you observe in your competitive set. Look for opportunities to add high-value amenities that top-performing properties offer. Optimize your minimum stay requirements to match successful competitors. You can also use these insights to improve your listing description and photos, ensuring you're highlighting the features that make your property stand out.

Creating a reliable comp set requires careful consideration of multiple factors that influence your property's performance. Your set should include at least 20 active properties that share similar characteristics with yours—from square footage and guest capacity to geographic location and amenity offerings. Focus on properties that target the same guest demographics as yours, ensuring your short-term rental comps provide relevant insights for your business. 

Custom filters let you refine your comp set based on specific criteria that matter in your market. For example, if you're near a tourist attraction, you might want to filter active listings by proximity to make sure you're only comparing yourself against properties with similar location advantages. You can save these filters to maintain consistent analysis over time and quickly adapt to market changes.

Our platform updates rental comps data daily, ensuring you always have the most current market insights on your rental property. This frequent updating is crucial because the vacation rental market can change rapidly, especially during peak seasons or around major events. Having access to fresh short-term rental comps helps you make timely adjustments to your strategy and stay ahead of market shifts.

Yes! This is particularly valuable for vacation rental markets with distinct seasonal patterns in the United States and worldwide. You might want different short-term rental comps for your high season versus your low season, as your competitive landscape and rent estimates might shift. For example, rental listings with pools might be your main competition in summer, while properties with indoor amenities might be more relevant in winter. You can filter AirDNA's recommended comps by amenities, or build a custom comp set that allows you to utilize our full list of filters (including Seasonality Score!)

Understanding your competitive landscape through rental comps is key to optimizing your pricing strategy. When you connect your Airbnb listing, our system shows you not just current rates, but also future patterns in rent prices from similar properties. This helps you compare your listing performance to others and spot opportunities where comparable properties are achieving higher rates, allowing you to adjust your own pricing proactively. You can also use these insights to keep an eye on your Airbnb listing performance, and develop sophisticated seasonal pricing strategies based on what's working for successful properties in your market.

Each property in your comp set receives a Match Score based on the criteria you've selected. Scores range from 70 to 100. If you live in an area with a lot of vacation rentals, you’re likely to see higher match scores among your comp set. If you have a unique property or if you’re operating in an area with limited short-term rentals, your comp set properties might be closer to 70. We’ve made the minimum 70 so that you know all of the properties are a reliable comparison, no matter where they fall in this range.