How to Analyze Airbnb Comps to Find Profitable Short-Term Rental Markets

When it comes to short-term rental investing, guessing just doesn’t cut it anymore. The most successful Airbnb hosts and STR investors rely on hard data—not hunches—to decide where to buy and what to charge. That’s where Airbnb comps come in. Think of them like real estate comparables, but tailored for the world of vacation rentals. They help you see how similar properties are performing in your target market so you can make smarter, more profitable choices. 

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Whether you're sizing up a new neighborhood or fine-tuning your nightly rate, understanding comps is key to spotting high-performing STR markets. In this article, we’ll break down how to analyze Airbnb comps and use them to uncover markets where your next property can thrive.

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Understanding Airbnb Comps

Before diving into data, it’s important to get clear on what an Airbnb “comp” actually is. Short for “comparable,” a comp is another Airbnb listing that’s similar to the property you’re analyzing—same general location, number of bedrooms, amenities, and overall vibe. If you're looking at a two-bedroom beachside condo with a hot tub, a good comp would be another nearby condo with similar features and guest capacity.

The point of using comps is simple: they help you set expectations. By looking at how similar properties are priced, how often they’re booked, and what kind of income they bring in, you can gauge whether a potential investment is likely to perform well—or fall flat. It’s about making decisions based on real-world performance, not wishful thinking.

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Key Metrics to Evaluate in Comps

Before diving into spreadsheets or dashboards, it’s important to know which numbers actually matter when looking at Airbnb comps. Here are the key metrics to keep an eye on:

• Average Daily Rate (ADR): This tells you how much a property earns per night on average. It’s a quick snapshot of pricing power.
• Occupancy Rate: This shows how often a property is booked. A high occupancy rate usually signals strong demand in the area.
• Revenue per Available Rental (RevPAR): A combo of ADR and occupancy, this gives you a clearer picture of how well a property performs overall.
• Seasonality Trends: Not all months are created equal. Look at how bookings and prices shift throughout the year so you can plan for slow and busy seasons.
• Guest Reviews and Ratings: What guests say—and how often they leave good ratings—can reveal a lot about a property's appeal and consistency.

These metrics form the foundation of solid STR market analysis.

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Steps to Analyze Airbnb Comps

If you want to spot top-performing Airbnb markets, you need to go beyond the surface. Here’s how to dig into the data and get a clear picture of what’s actually working.

• Identify Comparable Properties: Start by finding listings that closely match the type of property you're looking to buy or rent out. Look for similarities in location, number of bedrooms, property type, and even amenities. A beachfront condo performs very differently than a suburban basement suite—so keep your comps tight. Tools like Airbnb, AirDNA, and Mashvisor make it easier to filter and identify true comparables.
• Collect and Analyze Data: Once you’ve got your list, gather the key numbers: nightly rates, occupancy rates, and monthly revenue. Don’t stop there—take note of extra features like hot tubs, pools, or pet-friendliness. These details often explain why one listing outperforms another.
• Benchmark Against Market Averages: How do your comps stack up against the broader market? Compare their metrics to city or neighborhood averages to find out if a particular listing is killing it—or falling flat. This can also help you spot pricing opportunities or oversaturated areas.
• Adjust for Seasonality and Events: Short-term rentals are highly seasonal. Summer tourism, ski season, festivals, and holiday weekends can all skew performance. Make sure you’re comparing apples to apples by factoring in time of year and major local events.
• Evaluate Regulatory Environment: Lastly, check the local rules. Some cities are tightening restrictions on STRs or requiring permits and taxes. A high-earning comp doesn’t mean much if it’s in a zone that’s about to outlaw Airbnbs. Make sure you’re looking in markets where the legal environment supports sustainable hosting.

Done right, this kind of analysis can give you a huge edge—so take the time to do it well.

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Tools and Resources for Comp Analysis

You don’t have to crunch all the numbers yourself—there are some great tools out there that make Airbnb comp analysis way easier (and more accurate).

Awning’s Airbnb Estimator is worth a look. It’s beginner-friendly, uses real market data, and gives you quick insights into estimated revenue for any U.S. property—even before you buy. Perfect for testing different cities or running the numbers on a specific address.

AirDNA is a go-to for most STR investors. It gives you a full picture of any market, including average daily rates (ADR), occupancy rates, seasonality, and revenue trends. If you want to know how a neighborhood stacks up, this is a solid place to start.

Mashvisor goes a step further by analyzing potential cash flow, rental income, and investment performance. It’s great if you're comparing multiple properties or deciding between STR and long-term rental strategies.

Rabbu is another handy option. It’s fast, easy to use, and helps you quickly estimate how much revenue a property might bring in, based on real comps.

Together, these tools take the guesswork out of finding strong-performing short-term rentals.

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Takeaway

At the end of the day, analyzing Airbnb comps isn’t just a nice-to-have—it’s essential if you want to make smart, profitable STR investment decisions. Looking at how similar properties perform gives you a clear picture of what’s working (and what’s not) in any market you’re considering. But don’t stop there. The short-term rental landscape is always shifting—seasonal demand, local regulations, and guest expectations can change fast. 

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That’s why it’s important to keep an eye on the data and adjust your strategy as needed. Whether you’re just getting started or growing your portfolio, staying plugged into market trends and comp performance will help you stay ahead of the curve—and ahead of the competition.

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