"The Coachella Effect! Home Prices in Festival Hot Spot Cities Have Nearly Doubled in Under 10 Years"
Posted by Grossman & Jones Group on
Realtor.com shares, "the country's biggest festivals have had a dramatic—and very positive—impact on the housing markets in towns and cities that host America's most popular events, from Coachella to Lollapalooza, new Realtor.com® data has revealed.
Every year, hundreds of thousands of visitors converge on places like Austin, TX; Indio, CA; and Park City, UT, with many opting to take advantage of short-term rentals (STR) for the duration of their stay, rather than hotels, which often have higher prices and fewer home comforts.
The influx of festivalgoers provides local homeowners with a lucrative opportunity to earn extra income by leasing their homes as STRs—a trend that has seen local house prices in many festival hot spots nearly double in…
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