Investing in short term vacation rentals has grown as a popular investment strategy in recent years for good reason. When you buy in a popular location and you know what you look for in a vacation rental, it can be a lucrative way to diversify your portfolio and often results in passive income on a monthly basis.
Once you’ve decided on looking for vacation rental properties in Panama City Beach, it’s smart to further narrow the search by looking at the different neighborhoods and communities. Here are 5 of the best places to by a vacation rental in Panama City Beach, including why we think they are a good choice.
1. Front Beach Road
Front Beach Road is the main artery running along the coastline, offering immediate access to PCB’s beautiful white sand beaches and crystal-clear waters. Properties along this road are highly sought after for their proximity to the beach and the stunning Gulf views they offer. Because of this, your potential guests are going to search for homes specifically on this street, and you can likely expect high occupancy rates during all busy seasons.
The location of the vacation rental matters so much because most people are renting based on what is close by. Here’s what you’ll find near Front Beach Road vacation homes:
- Pier Park: A major shopping and entertainment complex with over 124 stores, restaurants, and a large IMAX theater. It’s a big draw for tourists and a prime spot for rental properties.
- Beach Access: Numerous public beach access points make it easy for vacationers to enjoy the Gulf without needing to travel far from their rental.
- Restaurants and Bars: Plenty of dining and nightlife options cater to tourists, increasing the desirability of rental properties in this area.
2. Thomas Drive
Thomas Drive runs parallel to Front Beach Road and is another prime location for vacation rentals. It offers a quieter atmosphere while still being close to the action. You’ll find just as much demand for homes here.
You can market your Thomas Drive vacation rental as being close to:
- St. Andrews State Park: This popular state park offers pristine beaches, nature trails, and excellent fishing and snorkeling opportunities. Proximity to the park can be a significant draw for tourists.
- Marinas: Several marinas offer boat rentals, fishing charters, and other water activities, attracting a variety of tourists, including avid boaters and fishermen.
- Nightlife: Clubs and bars along Thomas Drive are popular with the spring break crowd, making it a lucrative spot for rental properties targeting younger demographics.
3. Laguna Beach
Located on the west end of PCB, Laguna Beach offers a more relaxed and less commercialized environment. It’s ideal for families and vacationers looking for a quiet retreat, so you might want to look here if you’re planning to run a family-friendly vacation rental.
Nearby there is plenty do to, including:
- Quiet Beaches: Less crowded than other parts of PCB, providing a peaceful and serene vacation experience.
- Local Shops and Cafes: Quaint local businesses and cafes offer a charming atmosphere that appeals to tourists looking for a more laid-back vacation.
- Proximity to 30A: Easy access to the scenic Highway 30A and its upscale beach communities like Seaside and Rosemary Beach, which attract visitors from all over.
4. Sunnyside
If Laguna Beach isn’t right for your family-friendly vacation rental property, consider Sunnyside. It is another tranquil area on the west end of PCB, perfect for those looking to escape the busier parts of the city while still enjoying easy access to the beach.
The quiet streets and safe neighborhoods are ideal for families, as well as nearby attractions like:
- Beach Access: Direct access to beautiful, uncrowded beaches enhances the appeal of properties in this area.
- Proximity to Panama City Beach Conservation Park: Offers hiking, biking, and wildlife viewing opportunities, which are attractive to nature-loving tourists.
5. Lower Grand Lagoon
Lower Grand Lagoon is situated just east of the main PCB strip and offers a mix of residential and vacation rental properties. It’s close to many of the area’s top attractions but offers a more residential feel. You may be able to find a property here that is more affordable, and can then market your vacation home as a more budget-friendly option. However, don’t assume that Lower Grand Lagoon is not a nice area. It’s beautiful and popular, just a bit further from the main strip.
Nearby attractions include:
- St. Andrews Bay: Provides excellent opportunities for fishing, boating, and other water activities.
- Golf Courses: The area is home to several top-rated golf courses, attracting golfing enthusiasts year-round.
- Restaurants and Bars: A variety of dining options, from casual eateries to upscale restaurants, cater to tourists and residents alike.
Ultimately, the best place to invest depends on your target market and investment goals. Ready to find your vacation rental home for sale in Panama City Beach or learn more about the real estate market here? Contact us any time.