Airbnb City Guide: The Best Places To Invest in Riverside, California

Airbnb Rules and Regulations in Riverside, California

As of 2024, Riverside County has comprehensive regulations for short-term rentals. Hosts must obtain a short-term rental certificate from the county and adhere to occupancy limits based on property size, with a maximum of 10 guests for half-acre lots or smaller, 16 for half-acre to two-acre properties, and 20 for larger parcels. Quiet hours between 10 p.m. and 7 a.m. must be observed, and outdoor noise monitors are required. Rentals under five acres need to notify neighbors within 300 feet and display signage with contact information.

A responsible operator, such as a co-host or property manager, must be designated and respond to complaints within 60 minutes. The minimum stay is two days and one night, with a 10% transient occupancy tax applied. Violations can result in fines of up to $5,000, and permits may be revoked for repeated offenses. These regulations aim to strike a balance between allowing short-term rentals and maintaining neighborhood peace and quiet in Riverside County.

Riverside Airbnb Market Data:

• Average Revenue – $25.8K per year
• Average Daily Rate – $151.7 per night
• Average Occupancy Rate – 57%
• Average RevPAR – $87.2
• Average Home Prices – $622,966

1. Top Place to Invest in Riverside, California - Canyon Crest

Nestled in the heart of Riverside, Canyon Crest is a vibrant and sought-after neighborhood that offers a perfect blend of urban convenience and natural beauty. With its prime location, diverse amenities, and strong real estate market, Canyon Crest has emerged as a top choice for starting a new Airbnb business in Riverside.

Canyon Crest Airbnb Market Data:

• Average Revenue – $30K per year
• Average Daily Rate – $188.5 per night
• Average Occupancy Rate – 53%
• Average RevPAR – $98.4

Convenience - 8/10

Canyon Crest boasts a highly convenient location, with easy access to major highways, shopping centers, and essential services. The neighborhood is well-connected to the rest of Riverside and the Inland Empire, making it an ideal base for residents and visitors.

Tourist Attractions - 6/10

While Canyon Crest itself may not be a major tourist destination, its proximity to various attractions in Riverside and the surrounding areas makes it an attractive option for visitors. The neighborhood is just a short drive from the historic Mission Inn Hotel & Spa, the Riverside Art Museum, and the California Citrus State Historic Park.

Things to Do - 7/10

Canyon Crest offers a range of activities and amenities for residents and guests to enjoy. The neighborhood features several parks, including the scenic Sycamore Canyon Wilderness Park, which offers hiking trails and stunning views of the city. Additionally, the nearby University of California, Riverside, hosts various cultural events and performances throughout the year.

Average Home Prices - 7/10

According to Zillow data for 2024, the typical home value in Canyon Crest is $695,222, which represents a 6.0% increase over the past year. This appreciation rate indicates a strong and stable real estate market, making it an attractive option for investors. However, the relatively high home prices may present a barrier to entry for some investors.

Proximity to Work-Related Travel - 8/10

Canyon Crest's strategic location makes it an excellent choice for investors targeting business travelers and professionals. The neighborhood is situated near the Riverside University Health System Medical Center, the Riverside Convention Center, and the Riverside Sports Complex, all of which attract a steady stream of visitors throughout the year.

X-Factor - 8/10

What sets Canyon Crest apart is its unique blend of natural beauty and urban convenience. The neighborhood's tree-lined streets, stunning views of the surrounding hills, and well-maintained parks create a serene and inviting atmosphere that appeals to both residents and visitors. This combination of factors makes Canyon Crest a highly desirable location for Airbnb and STR investments.

2. Top Place to Invest in Riverside, California - University

The University neighborhood in Riverside, California, is a dynamic and thriving area that offers a wealth of opportunities for Airbnb and short-term rental investors. Situated around the renowned University of California, Riverside (UCR), this neighborhood is a hub of activity, attracting students, faculty, and visitors from around the world.

University Airbnb Market Data:

• Average Revenue – $26.7K per year
• Average Daily Rate – $170.3 per night
• Average Occupancy Rate – 73%
• Average RevPAR – $96.2

Convenience - 9/10

University is one of the most convenient neighborhoods in Riverside, with a wide array of amenities and services within easy reach. The area boasts numerous restaurants, cafes, shops, and grocery stores, catering to the needs of both residents and visitors. The neighborhood's proximity to major highways and public transportation makes it easily accessible from other parts of the city and beyond.

Tourist Attractions - 7/10

While the University neighborhood may not be a traditional tourist hotspot, it offers several unique attractions that draw visitors to the area. The UCR campus is a significant draw, with its stunning architecture, beautiful gardens, and various cultural events and performances throughout the year. The neighborhood also features several museums and galleries, such as the California Museum of Photography and the Culver Center of the Arts.

Things to Do - 8/10

The University neighborhood is a bustling area with no shortage of things to do. In addition to exploring the UCR campus and its many offerings, visitors can enjoy a variety of outdoor activities, such as hiking and biking, in the nearby Box Springs Mountain Reserve Park. The neighborhood also hosts several annual events, including the popular Riverside Festival of Lights and the Riverside Dickens Festival.

Average Home Prices - 6/10

According to Zillow data for 2024, the median home value in the University neighborhood is $585,000, representing a modest 3.2% appreciation over the past year. While the relatively high home prices may present a challenge for some investors, the neighborhood's strong rental demand and potential for long-term appreciation make it an attractive option for those with the necessary capital.

Proximity to Work-Related Travel - 8/10

The University neighborhood's location makes it an ideal choice for investors targeting business travelers and professionals. The area is situated near several major employers, including the University of California, Riverside, and the Riverside University Health System Medical Center. Additionally, the neighborhood's proximity to the Riverside Convention Center and the Riverside Municipal Airport makes it a hotspot for corporate rentals because of its convenient location for visitors attending conferences and events.

X-Factor - 9/10

What sets the University neighborhood apart is its vibrant and diverse community, fueled by the presence of UCR. The area's youthful energy and intellectual and cultural richness create a unique and appealing atmosphere for both residents and visitors. This dynamic environment, combined with the neighborhood's strong rental demand and long-term growth potential, makes it an excellent choice for Airbnb and STR investors.

3. Top Place to Invest in Riverside, California - Downtown

Downtown Riverside is a vibrant, historic district that seamlessly blends the charm of the past with modern amenities. This bustling urban center offers diverse attractions, entertainment options, and investment opportunities, making it an enticing choice for Airbnb and short-term rental investors seeking to capitalize on the city's growing popularity.

Downtown Airbnb Market Data:

• Average Revenue – $31.7K per year
• Average Daily Rate – $165.1 per night
• Average Occupancy Rate – 68%
• Average RevPAR – $114.5

Convenience - 9/10

One of Downtown Riverside's greatest strengths is its exceptional convenience. The area is highly walkable, with numerous shops, restaurants, and services within easy reach. Public transportation options, including the Riverside-Downtown Metrolink station and RTA buses, provide convenient access to the rest of the city and beyond.

Tourist Attractions - 8/10

Downtown Riverside boasts an impressive collection of tourist attractions that draw visitors from far and wide. The iconic Mission Inn Hotel & Spa, a stunning example of Spanish Mission-style architecture, is a must-see landmark. The Riverside Art Museum and the UCR ARTS block offer a feast for art enthusiasts, featuring the California Museum of Photography and the Culver Center of the Arts.

Things to Do - 9/10

From cultural celebrations to outdoor adventures, Downtown Riverside offers a plethora of activities for residents and visitors alike. The Main Street Pedestrian Mall is a shopping, dining, and entertainment hub. Annual events like the Riverside Festival of Lights and the Lunar Festival draw huge crowds. Nearby parks, such as Mount Rubidoux and Fairmount Park, provide opportunities for outdoor recreation.

Average Home Prices - 7/10

According to Zillow data, the typical home value in Downtown Riverside is $685,000 as of 2024. While this may seem high compared to some areas, it represents a modest 4.2% appreciation over the past year. The relatively stable home prices and strong rental demand make Downtown Riverside an attractive option for investors, although the entry costs may be a barrier for some.

Proximity to Work-Related Travel - 8/10

Downtown Riverside's central location makes it an ideal base for work-related travel. The Riverside Convention Center is within walking distance, as are several major employers like the County of Riverside. The Riverside University Health System Medical Center and the Riverside Municipal Auditorium are also nearby. Easy access to highways and public transportation further enhances the area's appeal for business travelers.

X-Factor - 9/10

What sets Downtown Riverside apart is its unique blend of history, culture, and community spirit. The area's stunning architecture, from the Mission Inn to the historic courthouse, creates an enchanting atmosphere. A thriving arts scene, diverse culinary offerings, and a packed calendar of events contribute to the neighborhood's vibrant energy. This distinctive character, combined with the strong potential for Airbnb and STR investments, makes Downtown Riverside a truly desirable location.

4. Top Place to Invest in Riverside, California - Arlington Heights

Nestled in the heart of Riverside, Arlington Heights is a charming and well-established neighborhood that offers a perfect blend of residential tranquility and urban convenience. With its tree-lined streets, historic homes, and proximity to key attractions, Arlington Heights has emerged as an attractive option for establishing short-term rentals.

Arlington Heights Airbnb Market Data:

• Average Revenue – $21.8K per year
• Average Daily Rate – $141.7 per night
• Average Occupancy Rate – 55%
• Average RevPAR – $77.1

Convenience - 7/10

Arlington Heights offers a convenient location with easy access to major highways and public transportation. The Riverside Transit Agency (RTA) buses serve the neighborhood, connecting residents and visitors to various parts of the city. However, the area may not be as walkable as some other neighborhoods, with fewer nearby amenities.

Tourist Attractions - 6/10

While Arlington Heights may not be a significant tourist destination, it is near several notable attractions in Riverside. The California Citrus State Historic Park, which showcases the region's rich agricultural history, is just a short drive away. The neighborhood is also close to the Riverside Art Museum and the historic Mission Inn Hotel & Spa.

Things to Do - 6/10

Arlington Heights offers a quiet residential atmosphere, with limited entertainment options within the neighborhood itself. However, residents and visitors can enjoy several parks and outdoor spaces like Arlington Park and Hole Lake. The nearby Victoria Club provides opportunities for golfing and social events.

Average Home Prices - 8/10

According to Zillow data for 2024, the typical home value in Arlington Heights is $550,000, representing a 5.5% appreciation over the past year. This relatively moderate price point, combined with the steady appreciation rate, makes Arlington Heights an attractive option for investors seeking a balance between affordability and potential returns.

Proximity to Work-Related Travel - 6/10

Arlington Heights is primarily a residential neighborhood with limited proximity to major work-related travel destinations. However, the neighborhood's location near highways and public transportation makes it relatively convenient for commuters. The Riverside University Health System Medical Center and the Riverside Convention Center are within a reasonable driving distance.

X-Factor - 7/10

What sets Arlington Heights apart is its strong sense of community and historic charm. The neighborhood features a mix of architectural styles, including well-preserved historic homes that add character and appeal. The area's quiet, tree-lined streets and friendly residents create a welcoming atmosphere for both long-term residents and short-term visitors.

5. Top Place to Invest in Riverside, California - Orangecrest

Nestled in the southeastern corner of Riverside, Orangecrest is a vibrant and growing neighborhood that offers a perfect blend of suburban charm and urban convenience. With its master-planned communities, excellent schools, and proximity to key attractions, Orangecrest has emerged as a top choice for new short-term rental investments.

Convenience - 8/10

One of Orangecrest's greatest strengths is its convenient location. The neighborhood is well-connected to major highways, including the 215 and 91 freeways, making accessing other parts of Riverside and the Inland Empire easy. Residents enjoy a variety of nearby amenities, such as shopping centers, restaurants, and grocery stores.

Tourist Attractions - 6/10

While Orangecrest itself may not be a major tourist destination, its proximity to various attractions in Riverside and the surrounding areas makes it an attractive base for visitors. The neighborhood is just a short drive from the historic Mission Inn Hotel & Spa, the Riverside Art Museum, and the California Citrus State Historic Park.

Things to Do - 7/10

Orangecrest offers a range of activities and amenities for residents and guests to enjoy. The neighborhood features several parks, including the expansive Orange Terrace Community Park, which boasts a community center, sports fields, and walking trails. Nearby hiking destinations, such as Sycamore Canyon Wilderness Park, provide opportunities for outdoor recreation.

Average Home Prices - 7/10

According to Zillow data for 2024, the typical home value in Orangecrest is $746,030, representing a 6.3% increase over the past year. While the relatively high home prices may present a barrier to entry for some investors, the neighborhood's strong appreciation rates and growing popularity make it an attractive option for those seeking long-term returns.

Proximity to Work-Related Travel - 7/10

Orangecrest's location makes it convenient for investors targeting business travelers and professionals. The neighborhood is situated near the Riverside University Health System Medical Center and the March Air Reserve Base. Additionally, the nearby University of California, Riverside, attracts a steady stream of visitors, including students, faculty, and conference attendees.

X-Factor - 8/10

What sets Orangecrest apart is its unique blend of suburban tranquility and urban convenience. The neighborhood's well-maintained streets, abundant green spaces, and strong sense of community create a welcoming atmosphere for both residents and visitors. This combination of factors and the area's growing popularity and investment potential make Orangecrest a highly desirable location for Airbnb and STR investors.