Since the pandemic, the demand for vacation rentals has skyrocketed. Vacasa, a vacation rental management platform, recently released its 2021 Top 25 Best Places to Buy a Vacation Home report, identifying the top U.S. destinations for purchasing a vacation rental property, and Pagosa Springs and Florissant, Colorado ranked 19 and 23 respectively on the list!

Among other factors, researchers factored in average cap rate or yearly rate of return in determining the rankings. Other southwestern states with rankings included three cities in California: Big Bear, Twentynine Palms, and Palm Springs. Also on the list are Big Sky, Montana, and Bear Lake, Utah. Gatlinburg, Tennessee took the first spot with a median home sale price of $320,111.

Pagosa Springs is known for its hot springs and is located in the southern resort area of Colorado. The median sale price is $361,320 and is part of the Pagosa Springs Association of REALTORS®. Central Colorado’s Florissant is part of the Pikes Peak Association of REALTORS® and is known for its national monument, the Florissant Fossil Beds. The median sale price for homes there is $367,000.

A spokesperson for Vacasa said that market conditions are always shifting, but the accelerated and lasting adoption of short-term rentals during the pandemic has had a clear impact on second-home sales. The spike in guest demand and preference for new, more remote destinations is changing where prospective buyers can find the best investment properties.

Whether you’re considering investing in a rental property or just looking for a more remote home location, Pagosa Springs and Florissant are both great areas to check out. Contact Metrowest today – we’d love to show you around!