01 Mar Shelbyville Ranked Best City to Own a Vacation Home
Shelbyville is a prime location for vacation rentals, according to LawnStarter and MSN.com.
The report ranked Shelbyville No. 1 out of 318 cities where people own vacation rentals. LawnStarter ranked the cities across 10 key metrics from median listing price per square foot, to rental vacancy rate to prevalence of property crime.
The key metrics are ranked with 1 being the “best.” Altogether, Shelbyville earned a composite score of 68.88. The 36 Airbnb’s in Shelbyville produces an average rental rate of $325 per night, with approximately 30 rentals available at any given time.
Comparatively, the “worst” place to own a vacation rental was Bass Lake, California, with a composite score of 27.55.
The study stated that smaller cities and towns dominated the ranking because vacation homes are cheaper to buy outside cities and have a greater return on investment as they’re strategically placed near popular attractions.
America’s largest cities performed poorly overall as vacation rental hot spots despite consistently ranking high in the attraction category.
Many of the top vacation rental home cities are near attractions in greater Appalachia. Shelbyville and Bardstown, Kentucky – No.1 and No. 5, respectively – are just outside of the Louisville area and surrounded by the bourbon industry, one of the state’s largest tourist draw.
For those who want to take a look at some of the vacation rentals that granted Shelbyville the title, check them out here.