CAPE CORAL, Fla. — Many people dream of owning a home in Florida. However, it’s not always cost-effective for snowbirds, so many turn to those homes into short-term rentals to offset the costs.
The trend started back in 2020. But a local realtor explained to Cape Coral's Community Correspondent Bella Line, why this strategy is no longer paying off:
"Five years ago, you could buy an Airbnb, and you would do very well, financially. Currently, I don't think that they are doing as well as they were,” said local realtor Trevor Caldwell.
New data by the City of Cape Coral shows there were more than 9,000 short-term rental listings in the city in 2024, which is nearly double the 5,000 that existed in 2020.
"There are over 200 houses that are currently able to be rented as of today, just in the MLS. That's not, including Airbnb, VRBO, Home Away any of those other vacation rental sites, so there's, there's not a shortage of inventory to rent, and we're at the height of rental season,” said Caldwell.
He says this surplus in Airbnbs is overpowering the demand, even in peak rental season. He says the owners of one house he is selling are experiencing this issue.
"This property is absolutely beautiful. I mean, this view, this location. I mean, you're minutes from downtown Cape Coral, and you know, there, there might be five of them on this canal, whereas before there was only one,” said Caldwell.
Fox 4 reached out to the City of Cape Coral for more information on their data and they said, "The City's infrastructure is designed to accommodate residents and visitors alike, whether they are staying in a home short-term or long-term. Our water and roadway systems are built to support the capacity of our community.”
If you would like to attend, the meeting is at 9 AM on Wednesday in the Council Chambers.
