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Airbnb City Guide: The Best Places To Invest in St.Paul, Minnesota

Buildings Under Blue Sky in Saint Paul

Airbnb Rules and Regulations in St.Paul, Minnesota

As of 2024, St. Paul has a comprehensive set of regulations for short-term rentals facilitated through the different booking platforms they are hosted on. Hosts are required to obtain an annual Short Term Rental Host license, with fees varying based on the type of property being rented. Non-owner-occupied units must also secure a Fire Certificate of Occupancy. The number of allowable short-term rental units per property is limited, with a maximum of 50% of units in buildings with more than four dwellings, up to a total of four units.

Hosts must adhere to zoning and occupancy limits, provide proof of liability insurance, and ensure their properties meet all city building and safety codes. Additionally, short-term rental platforms are obligated to pay a yearly $10,000 licensing fee to operate within the city. These regulations aim to strike a balance between allowing hosts to participate in the short-term rental market while prioritizing the safety and well-being of guests, neighbors, and the community as a whole.

St.Paul Airbnb Market Data:

  • Average Revenue – $65.4K per year
  • Average Daily Rate – $377.5 per night
  • Average Occupancy Rate – 57%
  • Average RevPAR – $218.7
  • Average Home Prices – $277,076

1. Top Place to Invest in St. Paul, Minnesota - Phalen

Nestled in the heart of St. Paul, Phalen is a vibrant neighborhood that offers a perfect blend of urban convenience and natural beauty. With its proximity to downtown and easy access to major highways, Phalen has become an increasingly popular choice for Airbnb investors looking to capitalize on the growing short-term rental market.

Phalen Airbnb Market Data:

  • Average Revenue – $57.6K per year
  • Average Daily Rate – $355.1 per night
  • Average Occupancy Rate – 50%
  • Average RevPAR – $179.4

Convenience - 7/10

Phalen boasts a convenient location, with quick access to public transportation and major roadways. The neighborhood is served by several bus lines, making it easy for visitors to explore the city without the need for a car. However, the area could benefit from more diverse dining and shopping options within walking distance.

Tourist Attractions - 6/10

While Phalen may not be the top tourist destination in St. Paul, it does offer some unique attractions. The neighborhood's crown jewel is Lake Phalen, a scenic lake surrounded by walking trails and parks. Visitors can enjoy fishing, boating, and picnicking in the summer months. The nearby Phalen Regional Park also features a golf course and a Chinese garden.

Things to Do - 5/10

Phalen offers a limited range of activities for visitors, primarily centered around outdoor recreation. Apart from the lake and parks, there are few notable entertainment or cultural venues in the immediate area. Guests may need to venture into other parts of the city for a more diverse array of experiences.

Average Home Prices - 7/10

As of 2024, the median home price in Phalen is $285,000, according to Zillow data. This represents a modest 2.5% appreciation over the past year, indicating a stable and growing market. While prices are higher than in some other areas of St. Paul, Phalen remains relatively affordable compared to the city's more upscale neighborhoods.

Proximity to Work-Related Travel - 8/10

Phalen's location makes it an attractive choice for visitors attending events at nearby venues. The neighborhood is just a 10-minute drive from the Xcel Energy Center, home to the Minnesota Wild hockey team and a popular concert venue. The RiverCentre Convention Center and Regions Hospital are also within easy reach.

X-Factor - 6/10

Its unique blend of urban living and natural beauty sets Phalen apart. The neighborhood's proximity to Lake Phalen and its surrounding parks offers a peaceful retreat from the hustle and bustle of the city. This combination of convenience and tranquility makes Phalen an appealing choice for Airbnb guests seeking a balance between exploration and relaxation.

2. Top Place to Invest in St. Paul, Minnesota - North End

The North End neighborhood in St. Paul, Minnesota, is a historic working-class area with a diverse population and a unique character. Located just north of downtown and the State Capitol, the North End offers an intriguing mix of affordability, convenience, and potential for short-term rental investors.

North End Airbnb Market Data:

  • Average Revenue – $56.6K per year
  • Average Daily Rate – $284.3 per night
  • Average Occupancy Rate – 61%
  • Average RevPAR – $177.1

Convenience - 6/10

While the North End boasts proximity to downtown St. Paul and major highways, the neighborhood itself lacks some essential amenities. Grocery stores and other necessary shopping options are limited, often requiring residents to travel outside the area. Public transportation is available but may not be as comprehensive as in other parts of the city.

Tourist Attractions - 4/10

The North End is not known as a major tourist destination in St. Paul. However, it does offer some hidden gems for visitors to explore. The Rice Street commercial corridor showcases the neighborhood's working-class roots and diverse ethnic background. Nearby attractions include the historic Oakland Cemetery and the Minnesota Transportation Museum.

Things to Do - 5/10

The North End provides a few notable parks and recreational opportunities. Sylvan Park and Marydale Park offer green spaces for outdoor activities, while the Rice Recreation Center hosts community events and programs. Nevertheless, the neighborhood lacks the variety of entertainment and cultural venues found in other parts of St. Paul.

Average Home Prices - 7/10

As of 2024, the median home value in the North End stands at $285,000, according to Zillow data. This represents a modest 2.5% appreciation over the past year, indicating a stable and gradually growing market. The North End's home prices are relatively affordable compared to other neighborhoods in St. Paul, making it an attractive option for investors seeking lower entry points.

Proximity to Work-Related Travel - 6/10

The North End's location provides decent access to some major work-related destinations in St. Paul. The neighborhood is near the State Capitol complex and within a 15-minute drive of downtown offices. However, it is farther from the city's main hospitals and convention centers, which may be a consideration for some short-term rental guests.

X-Factor - 7/10

What sets the North End apart is its strong sense of community and rich history. The neighborhood's diverse population, including many immigrant families, creates a vibrant and welcoming atmosphere. The Rice Street corridor, with its mix of small businesses and ethnic eateries, adds to the area's unique character and local flavor.

3. Top Place to Invest in St. Paul, Minnesota - Greater East Side

The Greater East Side of St. Paul, Minnesota, is a sprawling and diverse area that encompasses several neighborhoods, including Dayton's Bluff, Payne-Phalen, and Battle Creek. With its mix of historic charm, natural beauty, and growing potential, the Greater East Side presents an intriguing opportunity for Airbnb and short-term rental investors.

Greater East Side Airbnb Market Data:

  • Average Revenue – $65.6K per year
  • Average Daily Rate – $306.1 per night
  • Average Occupancy Rate – 63%
  • Average RevPAR – $190.8

Convenience - 7/10

The Greater East Side offers a good balance of urban convenience and suburban tranquility. The area is well-connected to downtown St. Paul and other parts of the city via major roads and highways, such as I-94 and US-61. Public transportation options, including bus lines and the nearby Union Depot, provide additional accessibility for visitors without cars.

Tourist Attractions - 6/10

While not as well-known as some other St. Paul destinations, the Greater East Side boasts several notable attractions. The historic Dayton's Bluff neighborhood features beautiful Victorian-era homes and stunning views from Indian Mounds Park. The Bruce Vento Nature Sanctuary offers hiking trails and birdwatching opportunities, while the Battle Creek Regional Park provides a variety of outdoor recreational activities.

Things to Do - 6/10

The Greater East Side provides a range of activities for visitors, particularly those interested in outdoor pursuits. In addition to the parks and nature areas, the neighborhood is home to several golf courses, including the Phalen Park Golf Course and the Keller Golf Course. The Hmong Village Shopping Center offers a unique cultural experience with its array of Asian markets and restaurants.

Average Home Prices - 8/10

As of 2024, the median home value in the Greater East Side stands at $220,000, according to Zillow data. This represents a 3.5% appreciation over the past year, indicating a growing and relatively affordable market compared to other parts of St. Paul. The lower entry prices make the Greater East Side an attractive option for investors looking to maximize their returns on short-term rentals.

Proximity to Work-Related Travel - 5/10

The Greater East Side's location may not be ideal for all work-related travel, as it is situated farther from some of St. Paul's major business districts and hospitals. However, the area's proximity to downtown and the State Capitol complex makes it a viable option for visitors attending events or meetings in those areas. The nearby Union Depot also provides convenient access to the Green Line light rail.

X-Factor - 7/10

What sets the Greater East Side apart is its diverse and evolving character. The area's mix of historic neighborhoods, natural beauty, and growing immigrant communities creates a unique and dynamic atmosphere. As the neighborhood continues to develop and attract new investment, it presents an exciting opportunity for Airbnb hosts to be part of its transformation and showcase its hidden gems to visitors.

4. Top Place to Invest in St. Paul, Minnesota - West 7th-Fort Road

The West 7th-Fort Road neighborhood in St. Paul, Minnesota, is a vibrant and historic area that has undergone significant revitalization in recent years. Stretching from the edge of downtown to the Mississippi River, this neighborhood offers a unique blend of urban convenience, cultural attractions, and entrepreneurial spirit, making it an attractive option for launching Airbnb startups.

The West 7th-Fort RoadAirbnb Market Data:

  • Average Revenue – $115.7K per year
  • Average Daily Rate – $593.3 per night
  • Average Occupancy Rate – 61%
  • Average RevPAR – $367.4

Convenience - 9/10

One of the greatest strengths of the West 7th-Fort Road neighborhood is its exceptional convenience. Located just minutes from downtown St. Paul, the area is well-served by public transportation, including several bus lines and the nearby Union Depot, which offers light rail and Amtrak service. The neighborhood's proximity to major highways, such as I-35E and US-52, provides easy access to other parts of the Twin Cities metropolitan area.

Tourist Attractions - 8/10

The West 7th-Fort Road neighborhood boasts a rich history and a variety of cultural attractions that appeal to visitors. The historic Schmidt Brewery, now converted into artist lofts and a community center, serves as a focal point for the area's creative scene. The neighborhood is also home to the Minnesota Transportation Museum, which showcases the state's railroad history, and the Xcel Energy Center, a major sports and entertainment venue.

Things to Do - 8/10

Visitors to the West 7th-Fort Road neighborhood will find no shortage of things to do. The area is known for its diverse array of restaurants, bars, and breweries, ranging from classic dive bars to upscale eateries. The neighborhood also offers several parks and green spaces, including the scenic Irvine Park and the Mississippi River Boulevard, which are popular for walking, biking, and scenic drives.

Average Home Prices - 7/10

As of 2024, the median home value in the West 7th-Fort Road neighborhood stands at $350,000, according to Zillow data. This represents a 4% appreciation over the past year, indicating a strong and growing market. While prices are higher than in some other areas of St. Paul, the neighborhood's prime location and attractive amenities make it a solid investment for Airbnb hosts.

Proximity to Work-Related Travel - 9/10

The West 7th-Fort Road neighborhood's location makes it an ideal choice for visitors traveling for work-related purposes. The area is just a short drive or public transit ride from major employers in downtown St. Paul, including the State Capitol complex and numerous corporate offices. The neighborhood is also conveniently located near several hospitals, including United Hospital and Regions Hospital. West 7th-Fort Road is one of the best locations for a corporate rental, thanks to its great proximity to numerous offices.

X-Factor - 8/10

What sets the West 7th-Fort Road neighborhood apart is its unique combination of history, culture, and community. The area's historic architecture, vibrant arts scene, and thriving local businesses create a distinctive sense of place that appeals to visitors seeking an authentic St. Paul experience. As the neighborhood continues to grow and evolve, it offers exciting opportunities for Airbnb hosts to be part of its ongoing renaissance.

5. Top Place to Invest in St. Paul, Minnesota - West Side

Nestled along the western bank of the Mississippi River, St. Paul's West Side neighborhood offers a unique blend of history, culture, and opportunity for investors. With its vibrant Latino community, convenient location, and affordable housing options, the West Side presents an attractive proposition for those looking to capitalize on the growing tourism market in Minnesota's capital city by launching a short-term rental.

West Side Airbnb Market Data:

  • Average Revenue – $79.3K per year
  • Average Daily Rate – $303.4 per night
  • Average Occupancy Rate – 83%
  • Average RevPAR – $256.4

Convenience - 8/10

The West Side boasts an incredibly convenient location just across the Wabasha Bridge from downtown St. Paul. This proximity allows easy access to the city's major attractions, restaurants, and entertainment venues, making it an ideal visitor base. The neighborhood is also well-connected by public transportation, with several bus routes running through the area.

Tourist Attractions - 7/10

While the West Side itself may not be a primary tourist destination, its unique cultural offerings, and nearby attractions make it an appealing choice for visitors. The neighborhood is home to the vibrant District del Sol, a stretch of Cesar Chavez Street known for its authentic Mexican restaurants, bakeries, and shops. The area also hosts the annual Cinco de Mayo festival, one of the largest in the United States.

Things to Do - 7/10

The West Side offers a variety of activities and experiences for visitors to enjoy. From exploring the colorful murals and street art along Cesar Chavez Street to indulging in delicious Latino cuisine at local favorites like El Burrito Mercado and Boca Chica, there's no shortage of ways to immerse oneself in the neighborhood's rich culture. The nearby Harriet Island Regional Park provides opportunities for outdoor recreation, with stunning views of the Mississippi River and downtown St. Paul.

Average Home Prices - 8/10

As of 2024, the median home value in the West Side neighborhood stands at $250,000, according to Zillow data. This represents a modest 1% appreciation over the past year, indicating a stable and affordable market compared to other areas of St. Paul. The relatively low entry prices make the West Side an attractive option for investors looking to maximize their returns on short-term rentals.

Proximity to Work-Related Travel - 7/10

The West Side's location provides convenient access to several key work-related destinations in St. Paul. The neighborhood is just a short drive or bus ride from the State Capitol complex and major hospitals like United Hospital and Regions Hospital. While not as close to the downtown core as some other areas, the West Side's proximity to these important institutions makes it a viable option for business travelers and medical professionals.

X-Factor - 8/10

What truly sets the West Side apart is its rich history and vibrant Latino culture. From its early days as a haven for Mexican immigrants to its current status as the heart of St. Paul's Latino community, the neighborhood has a unique character that is palpable in its streets, businesses, and people. This authentic cultural experience, combined with the area's convenient location and affordable housing options, makes the West Side a compelling choice for Airbnb investors looking to tap into a growing market of culturally curious travelers.

⚡️
Reveal your property’s rental profitability

Buy this property and list it on Airbnb.