Key takeaways
- Seasonal short-term rental markups for the 50 most popular vacation spots in the U.S. can range between 59 percent and 178 percent.
- Short-term rental rates in Augusta, Ga., Long Island, N.Y. and Saratoga Springs, N.Y. double during the peak tourist months of spring and summer.
- Short-term rental rates in Oxford, Miss., Vail/Avon, Colo. and Green Bay, Wis. jump by at least 110 percent during the fall and winter months.
- Travel experts said there are numerous ways to be more budget-conscious while traveling this year, including traveling with bigger groups, staying within the U.S. and leveraging credit card rewards to cover your expenses.
Long Island, N.Y., Saratoga Springs, N.Y., Lake of the Ozarks, Mo. Yellowstone National Park, Mont.
There’s something all these places have in common: every summer they’re inundated by a flood of tourists, transforming sleepy bedroom communities into vacation hot spots where short-term rentals cost 1.5x to 2x what they were in winter.
How expensive can vacation rentals in these places get? If you want to check out a beach town on Long Island this summer, you’ll pay $400 more per night for a vacation home than what you’d pay just a few months prior, according to Bankrate’s new Vacation Rental Study. It’ll be the same story this winter in popular tourist destinations like Vail, Colo. and Park City, Utah later this year, thanks to ski season.
Short-term rentals have become increasingly popular over the last decade, thanks to platforms like Airbnb and Vrbo, which make it easy for property owners to rent out their homes to travelers. AirDNA, a vacation rental analytics firm, estimates the short-term rental market reached approximately $64 billion in revenue in 2023 and forecasts that demand for short-term rentals will continue to grow four to six percent nationally over the next year. Short-term rentals are typically vacation homes that travelers can rent for a few days or weeks.
Travel experts said that traveling to these crowded, pricey spots during peak season, particularly at a time when the economy is on shaky ground, may not provide the best value for your money. With cost being a major deterrent for travel this summer, it could be smart to skip these expensive vacation spots at certain times of the year and instead consider alternative destinations that are less popular and more affordable, they said.
“Travel has become so expensive, and Americans at this point are fairly cash-poor and debt is on the rise.” — Trae Bodge, travel expert and founder of smart shopping blog TrueTrae
Spring and summer vacation spots with the biggest seasonal rental hikes
Bankrate analyzed the 50 most in-demand U.S. vacation markets using 2024 data from AirDNA to determine where short-term rental rates increase the most during peak seasons.
The vacation markets we analyzed offer some of the most enticing destinations on any tourist’s bucket list, from beach getaways to ski resorts, college towns, major sports venues and national parks. That said, you may want to think twice before booking the following spots during the high season.
Here are the top 10 markets where short-term rentals jump the most in the spring and summer:
Except for Augusta, Ga., these markets typically hit maximum occupancy in June, July or August. Augusta experiences an influx of tourism in April every year because it’s home to the famous Masters golf tournament. Much of the demand in Saratoga Springs over the summer is also driven by a singular sporting event: horse racing. Many tourists are willing to pay a hefty price to vacation in these areas during the high season for that one thing it offers, whether it’s a sporting event or the beach.
“The thread that goes through all of these markets is that they are very famous for one particular thing. They’ve got kind of an undiversified tourist appeal.” — Bram Gallagher, Director of Economics and Forecasting at AirDNA
Average vacation rental rates in these 10 popular destinations in the spring and summer are typically 1.5x to 2x what they are in winter — with peak season markups ranging between 79 percent and 178 percent. The average rate for a short-term rental in Augusta, No. 1 on this ranking, is $541 per night at its peak in April. Augusta’s average rate for short-term rentals drops to $194 per night during other times of the year. That’s a seasonal markup of nearly 200 percent for the Masters golf tournament.
The second-highest seasonal markup for a summer destination is Long Island, N.Y., at 117 percent. Saratoga Springs, N.Y. and Bozeman/Yellowstone National Park came in third and fourth place for their peak season markups, at 96 percent and 95 percent, respectively. Lake of Ozarks, Miss. experiences the fifth-biggest spike in short-term rental rates during the summer (92 percent).
Budget-conscious tourists may be able to save cash if they pick a spot next door to a tourist hot spot, according to the study. For example, Tri-State locals could save almost $200 per night by opting for a vacation near the Jersey Shore instead of Long Island during the summer.
The rate for a short-term rental on the Jersey Shore during peak season averages about $600 per night, while the average short-term rental rate on Long Island during the summer is nearly $800 per night.
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Short-term rentals are gaining traction as a vacation preference, especially for budget-conscious travelers
Short-term rentals are grabbing an ever-bigger share of the hotel market, according to a report by AirDNA and hotel data provider STR. Hotels still account for 85 percent of the U.S. market as of 2023, but short-term rentals’ share nearly doubled from 8 percent in 2018 to 15 percent in 2023.
Kristen Taylor, vice president of operations at Vacasa, a vacation rental management platform, said these types of rentals are popular because tourists are becoming increasingly selective about where they want to stay, and they’re gravitating toward the variety of experiences offered by individual home and apartment owners.
“ We’re definitely seeing folks splurge on the right things,” Taylor said. “Location really matters and amenities are a big one. We’re really seeing people want amenities, whether it’s a private pool, hot tub or gym access.”
Taylor said younger generations, particularly Gen Zers, are leading the way with group travel and being savvier about how they travel this summer. Two in 5 travelers (38 percent) are planning to stay in a vacation rental for their summer vacation, according to Vacasa’s 2025 summer travel report.
“A lot of the Gen Zers are getting friends together, and larger groups are traveling versus couples or smaller families. You definitely get a better bang for your buck.” — Kristen Taylor, VP of Vacasa
Taylor said short-term rentals tend to cater more to budget-friendly trips because you can split the cost of the house with family or friends and eat out less since most short-term rentals have kitchens.
Gallagher said hotel rates also rise during the high season, but their price swings are “not as dramatic” because they do not experience the same amount of seasonal supply and demand surges.
“[Short-term] rental prices reflect the seasonal demand and a potentially different mix of properties available at peak season,” he said.
Save on accommodations by comparison shopping
Given that vacation rentals may have bigger price swings, it may be to tourists’ advantage to comparison shop and check hotel listings before booking a short-term rental in the area they’re vacationing in.
How this New Jersey family takes an affordable trip to Catskill every year
Instead of going to the beach during the summer, Bodge, who lives in Montclair, N.J., said she and her family go on an annual trip to Catskill, N.Y. every summer as a means to get away without breaking the bank.
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The annual trip involves splitting the cost of a massive short-term rental with other families, access to a private lake on the property and cooking meals together. Bodge said what started as an affordable trip idea turned into an annual tradition with her family and other families.
“We found a house in the Catskills that we rent for a week with a bunch of friends, and we’ve been doing it now for 12 years,” Bodge said. “Our kids have essentially grown up there. “ It is such a fabulous tradition, and it’s really budget-friendly because it’s only three hours away.”
Bodge’s family, as well as other families, typically drive to the property and bring food they can cook with them, which helps them save money on flights and dining out. She said another big benefit of staying at the same house in the Catskill Mountains at the same time every year is that she’s been able to negotiate with the homeowner to keep the rate unchanged.
“I’m always trying to find ways to keep the price affordable for everybody. People can bring their dogs so they don’t have to board their dogs where they would have to otherwise if we were traveling someplace else.” — Trae Bodge, travel expert and founder of smart shopping blog TrueTrae
Fall and winter vacation spots with the biggest seasonal rental hikes
Driven primarily by ski attractions and major sporting events, these 10 spots have the biggest markups in average rental rates during the fall and winter months.
Average vacation rental rates typically double in these markets during the second half of the year, with markups ranging between 83 percent and 125 percent. Much of the demand in these markets is driven by sporting events. Oxford and Green Bay, for example, are home to the Ole Miss Rebels and Green Bay Packers, bringing in thousands of fans per game to tailgate and cheer them on throughout the fall. Vail, Steamboat Springs, Park City, Aspen and Mammoth Lakes are all well-established skiing towns, drawing in tourists from all over the world during the winter months.
“Oxford is not a huge metropolitan area with lots of attractions. If you’re going to Oxford, it’s almost invariably because you’re going to go to support the football team.” — Bram Gallagher, Director of Economics and Forecasting at AirDNA
Bozeman/Yellowstone National Park is the only market on the ranking that sees a big jump in short-term rental rates in both the summer and winter. That’s because Bozeman attracts skiers in the winter, while Yellowstone National Park attracts visitors in the summer. Rental rates dip significantly in April and May, which means prospective tourists have an especially small window to take advantage of low rental rates in Bozeman and Yellowstone National Park.
“ You’ve got markets that are very seasonal for weather reasons,” Gallagher said. “Bozeman, Yellowstone, Lake of the Ozarks, Lake Norman and Idaho Falls are natural places where you can get outside and see beautiful things. That has been a big trend since the COVID-19 pandemic.”
Skiers may be able to save money by picking a ski resort that’s a little less popular or staying a little further outside well-known ski hubs. For example, short-term rental rates are significantly cheaper during the ski season in Salt Lake City, which is a 40-minute drive from Park City, a popular ski resort. According to the study, a short-term rental costs $271 per night in Salt Lake City during the winter, compared to $888 per night in Park City.
Among the ski resorts in Colorado, a more budget-friendly skiing destination compared to Vail or Aspen is Breckenridge. Average short-term rental rates during the winter are around $650 per night in Breckenridge, compared to nearly $950 per night in Vail and more than $1,000 per night in Aspen.
10 ways to save on travel in 2025
It’s no secret that vacationing can get expensive fast. More than half of U.S. adults (54 percent) are planning to skip travel altogether this summer, according to Bankrate’s 2025 Summer Travel Survey. And of those who do plan to travel, almost a third (29 percent) will take on debt to pay for it.
Bankrate spoke with three travel experts to get their best tips to save on travel this year. They said while there are numerous ways to cut costs during your travels, the array of money-saving tips may overwhelm travelers. The more you can implement the following strategies into your travel plans, the better, but know that you don’t have to tackle every item on the list to maximize your travel budget.
These are 10 tried and true ways to save on travel this year:
1. Flexibility is key: By staying open to destinations or timing, you may more easily snag deals and discounts. Consider letting whatever travel deal you score guide your trip planning.
2. Plan ahead: Though you may not need to purchase flights and accommodations right away, travel experts suggest planning your travel six to 12 months out to track prices, build savings and credit card rewards and lock in the best rates for your flights, accommodations and activities. The further out the booking, typically the better the prices or availability are.
3. Sign up for travel alerts: Travel alerts from airlines, hotels and booking platforms can make it easier for you to find exclusive deals and flash sales. Additionally, consider signing up for Google Flights alerts to receive email notifications when the price of a flight you’re tracking changes. This can be helpful for finding the best deals on flights without constantly monitoring prices.
4. Travel domestically: Staying in the U.S. for travel is a surefire way to guarantee a more budget-friendly trip compared to jet-setting somewhere international. Consider exploring nearby destinations to cut down flight costs. According to Vacasa’s 2025 report, 87 percent of travelers are headed to destinations this summer within the U.S.
5. Travel out of season or during less popular times of the week: By avoiding peak tourist times, you may score lower prices, fewer crowds and have a more relaxed travel experience. Flights and accommodations are often cheaper in the middle of the week.
6. Sign up for loyalty programs: Joining airline, hotel and car rental loyalty programs can earn you points and rewards that translate into freebies and upgrades on your future travels.
7. Use credit card rewards: Use a travel rewards credit card for your everyday purchases and that offers points or cash back that you can apply towards flights, hotels or other travel costs. Make sure to pay your credit card balance off in full every month, so you aren’t chasing rewards while in debt.
8. Travel with a group: Sharing costs for accommodations, meals, and transportation can make your travel budget stretch further and create memories with your family or friends.
9. Use travel deal sites: Platforms like Booking.com and Experian sometimes offer limited-time discounts on flights, hotels and vacation packages, making your travel budget go further. Bodge recommends adding CouponCabin as an extension on your browser to score more discounts while booking travel online.
10. Stay near public transportation: Staying in convenient locations with easy access to buses, trains or subways can save you money on Ubers or car rentals. It can also make getting around easier during your trip.
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