You’ve heard it 1,000 times before and you’ll hear it 1,000 times more, real estate investing is all about location, location, location. In the case of short-term vacation rentals, this can affect the nightly cost you can charge to your guests. By looking at the different zip codes of Scottsdale for the week of Thanksgiving 2018, assuming a family of 2 adults and 2 children staying at a house to themselves, I did some research for you on how location effects short-term rental pricing.
North Scottsdale (85262, 85266, and 85255)
These zip codes are known to house some of Scottsdale’s more luxurious custom homes, so it is no surprise that out of North, Central, and South Scottsdale, Northern had the greatest nightly rent at $3,160/night. So why does north Scottsdale get a price boost?
For one, you are close to all of the premium golf courses such as Troon, Whisper Rock, Scottsdale National Golf Club, and are in easy access to Westin Kierland and TPC. Other features you can’t get in the southern parts of Scottsdale are the clear night skies away from the light pollution, you would be closer to many hiking trails, and shopping at Kierland Commons and Scottsdale Quarter isn’t too far away.
On the lower hand, you see $200-$230 per night in this area.
North of Shea, but South of Bell Rd (85254, 85260, and 85259)
Moving a little south we approach neighborhoods that are more masterplan community than custom homes. These homes tend to be smaller in size from the more northern homes, but still, offer a number of luxury options. On the highest nightly price, 85254 takes the cake with $1,700 per night, followed by 85260 with $1,164, and 85259 going for $942 as the most expensive. The minimum for all three of these was between $170-$200/night.
This location is great for a short-term rental as you are close to just about everything. In some cases, you could easily walk to the shopping and golf courses. In addition to these popular spots, you are also close to the 101, making it ideal to travel all around the valley and even explore other parts of Arizona by doing day trips.
South of Shea, North of Indian School (85258 and 85253)
Hitting up McCormick Ranch and Old Town Scottsdale, the nightly value increases from the previous section’s options by being even closer to entertainment options. 85253, breaks 85254’s record of $1,700 per night by going up to $1,800 per night. In this location, the highest nightly cost was $2,141 per night in 85258. On the lower side of things, we see $140-$180 per night
This location is great because of the proximity to far more attractions such as Butterfly Wonderland, Odysea, Old Town (for both the art and the nightlife), and Scottsdale Fashion Square’s shopping and dining options.
South Scottsdale (85250, 85251, and 85257)
Verging into Tempe, we see one of the lowest nightly minimums, but also one of the higher ones too. At minimum per night, we see $127 in 85257, while the high, unsurprisingly, was just south of Indian School Road in 85251 at $2,033 per night.
This location doesn’t have as many options for entertainment, food, or luxury homes. Instead, it does provide better value to being in between Scottsdale and Tempe, which some people opt for if they are visiting students that go to ASU.
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