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Airbnb City Guide: The Best Places To Invest in Winston-Salem, North Carolina

Winston-Salem, NC, USA

Airbnb Rules and Regulations in Winston-Salem, North Carolina

As of 2024, Winston-Salem, North Carolina, has implemented a set of regulations governing short-term rentals, including those listed on different short-term rental platforms. Hosts must obtain a permit from the city and comply with occupancy limits, which vary depending on the property's size and zoning. Additionally, hosts are required to maintain a local contact person, such as a property manager, who can respond to any issues within one hour.

The city mandates that all Airbnb properties adhere to safety standards, including smoke and carbon monoxide detectors and fire extinguishers. Hosts must also collect and remit applicable taxes, such as the occupancy tax and sales tax. Parking requirements vary based on the property's location, with some areas requiring off-street parking. To ensure the well-being of guests and neighbors alike, the city has established quiet hours from 10 PM to 7 AM. Failure to comply with these regulations may result in fines or the revocation of the short-term rental permit.

Winston-Salem Airbnb Market Data:

  • Average Revenue – $28.4K per year
  • Average Daily Rate – $159 per night
  • Average Occupancy Rate – 49%
  • Average RevPAR – $76.8
  • Average Home Prices – $252,763

1. Top Place to Invest in Winston-Salem, North Carolina - Downtown

Downtown Winston-Salem, the heart of the city, offers a vibrant mix of history, culture, and modern amenities. This area has undergone significant revitalization in recent years, making it an attractive destination for both residents and visitors alike. Its central location and diverse offerings make it a top choice for aspiring Airbnb investors.

Downtown Airbnb Market Data:

  • Average Revenue – 24.1$K per year
  • Average Daily Rate – $172.2 per night
  • Average Occupancy Rate – 45%
  • Average RevPAR – $75.7

Convenience - 8/10

Downtown Winston-Salem boasts a highly walkable environment, with many restaurants, shops, and entertainment venues within easy reach. The area is well-served by public transportation, including bus routes and bike-sharing programs, making it convenient for visitors to explore without relying on a car.

Tourist Attractions - 7/10

The downtown area is home to several notable attractions, such as the Stevens Center for the Performing Arts, the Hanesbrands Theatre, and the Kimpton Cardinal Hotel. Visitors can also enjoy the Downtown Arts District, which features numerous galleries, studios, and public art installations. While there are some popular tourist spots, the area could benefit from additional unique attractions to draw in more visitors.

Things to Do - 9/10

From exploring the local art scene to indulging in the city's thriving craft beer and food culture, downtown Winston-Salem offers a wide range of activities for all ages. The area hosts various local festivals and events throughout the year, such as the Winston-Salem Cycling Classic and the Heavy Rebel Weekender music festival, ensuring there's always something exciting happening.

Average Home Prices - 6/10

According to Zillow data for 2024, the median home value in downtown Winston-Salem is $325,000, representing a 4.2% appreciation rate over the past year. While this price point is relatively affordable compared to larger cities, it may still be considered high for some investors. The steady appreciation rate, however, indicates a stable and growing market.

Proximity to Work-Related Travel - 8/10

Downtown Winston-Salem is conveniently located near major employers, such as Wake Forest Baptist Medical Center and Novant Health Forsyth Medical Center. The area is also close to the Winston-Salem Fairgrounds and the Benton Convention Center, making it an ideal location for business travelers attending conferences and events.

X-Factor - 7/10

What sets downtown Winston-Salem apart is its unique blend of historical charm and modern innovation. The area showcases beautiful Art Deco architecture alongside cutting-edge developments like the Innovation Quarter, a thriving research park, and innovation district. This combination creates a distinctive atmosphere that appeals to diverse visitors.

2. Top Place to Invest in Winston-Salem, North Carolina - Ardmore

Nestled in the heart of Winston-Salem, Ardmore is a charming and historic neighborhood that has captured the attention of Airbnb investors. With its tree-lined streets, well-maintained homes, and strong sense of community, Ardmore offers a welcoming atmosphere for both residents and visitors, making it an attractive option for short-term rental investments.

Ardmore Airbnb Market Data:

  • Average Revenue – $20.4K per year
  • Average Daily Rate – $133.4 per night
  • Average Occupancy Rate – 56%
  • Average RevPAR – $73.2

Convenience - 7/10

Ardmore's central location provides easy access to various amenities, including grocery stores, restaurants, and local businesses. The neighborhood is also well-connected to public transportation, with several bus routes running through the area. However, some parts of Ardmore may require a car to reach certain destinations, slightly impacting its overall convenience score.

Tourist Attractions - 5/10

While Ardmore itself does not boast major tourist attractions, its proximity to downtown Winston-Salem and other popular areas makes it a convenient base for exploring the city. Visitors can easily access attractions such as the Reynolda House Museum of American Art and the Old Salem Museums & Gardens within a short drive.

Things to Do - 6/10

Ardmore offers a range of local activities, including parks, community events, and a thriving food scene. The neighborhood is home to several popular restaurants and cafes and the Ardmore Farmers Market, which operates seasonally. However, compared to other areas in Winston-Salem, Ardmore may have fewer options for entertainment and nightlife.

Average Home Prices - 7/10

According to Zillow data for 2024, the median home value in Ardmore is $280,000, with a 3.8% appreciation rate over the past year. This price point is relatively affordable compared to other desirable neighborhoods in Winston-Salem, making it an attractive option for Airbnb investors. The steady appreciation rate also indicates a stable and growing market.

Proximity to Work-Related Travel - 6/10

Ardmore is located near major employers such as Wake Forest Baptist Medical Center and Novant Health Forsyth Medical Center. However, the neighborhood is slightly further from the city's main convention centers and sports venues, which may be a consideration for investors targeting business travelers.

X-Factor - 8/10

Ardmore's unique selling point lies in its strong sense of community and historic charm. The neighborhood features a mix of architectural styles, from quaint bungalows to stately Craftsman homes, creating a visually appealing and inviting atmosphere. The active neighborhood association and regular community events foster a tight-knit community spirit that appeals to both residents and visitors alike.

3. Top Place to Invest in Winston-Salem, North Carolina - Washington Park

Washington Park, a historic neighborhood in Winston-Salem, has emerged as a sought-after location for Airbnb investors. Boasting a mix of grand old homes and modern renovations, this area offers a unique blend of charm and convenience. Its proximity to downtown and thriving local culture make it an attractive option for short-term rental investments.

Washington Park Airbnb Market Data:

  • Average Revenue – $19.9K per year
  • Average Daily Rate – $142.4 per night
  • Average Occupancy Rate – 48%
  • Average RevPAR – $67.5

Convenience - 8/10

Situated just south of downtown Winston-Salem, Washington Park provides easy access to the city's main attractions and amenities. The neighborhood is well-served by public transportation, with several bus routes connecting it to other parts of the city. Many local shops, restaurants, and services are within walking distance, adding to the area's overall convenience.

Tourist Attractions - 6/10

While Washington Park itself is not home to major tourist attractions, its location allows for easy exploration of nearby points of interest. Visitors can quickly reach destinations such as the Old Salem Museums & Gardens, the Reynolda House Museum of American Art, and the vibrant downtown area, all within a short drive or bus ride.

Things to Do - 7/10

Washington Park offers a variety of local activities and events that cater to both residents and visitors. The neighborhood features several parks, including the namesake Washington Park, which hosts community gatherings and outdoor concerts. The area also boasts a growing food and beverage scene, with a selection of local restaurants, cafes, and breweries to enjoy, which opens up the opportunity to establish local partnerships and create extra value for your customers.

Average Home Prices - 7/10

According to Zillow data for 2024, the median home value in Washington Park is $295,000, with a 4.1% appreciation rate over the past year. This price point is relatively affordable compared to other historic neighborhoods in Winston-Salem, making it an attractive option for Airbnb investors. The steady appreciation rate also indicates a stable and growing market.

Proximity to Work-Related Travel - 7/10

Washington Park is conveniently located near major employers, such as Wake Forest Baptist Medical Center and Novant Health Forsyth Medical Center. The neighborhood is also within a reasonable distance from the city's main convention centers and sports venues, making it a suitable choice for investors targeting business travelers.

X-Factor - 8/10

Washington Park's unique appeal lies in its historic architecture and strong sense of community. The neighborhood features diverse architectural styles, from grand Victorian homes to charming bungalows, creating a visually stunning and inviting atmosphere. The active neighborhood association and regular community events foster a tight-knit community spirit that appeals to both residents and visitors alike.

4. Top Place to Invest in Winston-Salem, North Carolina - Buena Vista

Buena Vista, a historic neighborhood in Winston-Salem, has captured the attention of Airbnb investors with its stunning architecture, tree-lined streets, and proximity to downtown. This picturesque area offers a perfect blend of old-world charm and modern convenience, making it an attractive option for starting new short-term rental investments.

Buena Vista Airbnb Market Data:

  • Average Revenue – $29.1K per year
  • Average Daily Rate – $194 per night
  • Average Occupancy Rate – 51%
  • Average RevPAR – $98.5

Convenience - 7/10

Located just northwest of downtown Winston-Salem, Buena Vista provides easy access to the city's main attractions and amenities. The neighborhood is served by public transportation, with several bus routes connecting it to other parts of the city. While some local shops and restaurants are within walking distance, a car may be necessary to reach certain destinations, slightly impacting its overall convenience score.

Tourist Attractions - 5/10

Buena Vista itself does not boast major tourist attractions, but its location allows for easy exploration of nearby points of interest. Visitors can quickly reach destinations such as the Reynolda House Museum of American Art, the Old Salem Museums & Gardens, and the vibrant downtown area within a short drive.

Things to Do - 6/10

Buena Vista offers a range of local activities and events that cater to both residents and visitors. The neighborhood features several parks, including the nearby Grace Court Park, which hosts community gatherings and outdoor events. The area also has a selection of local restaurants and cafes, but entertainment and nightlife options may be limited compared to other parts of the city.

Average Home Prices - 8/10

According to Zillow data for 2024, the median home value in Buena Vista is $375,000, with a 3.6% appreciation rate over the past year. While this price point is higher than some other neighborhoods in Winston-Salem, the area's historic charm, architectural beauty, and prime location justify the investment for Airbnb investors. The steady appreciation rate also indicates a stable and growing market.

Proximity to Work-Related Travel - 6/10

Buena Vista is located near major employers, such as Wake Forest Baptist Medical Center and Novant Health Forsyth Medical Center. However, the neighborhood is slightly further from the city's main convention centers and sports venues, which may be a consideration for investors targeting business travelers.

X-Factor - 9/10

Buena Vista's unique selling point lies in its stunning historic architecture and picturesque streetscapes. The neighborhood features diverse architectural styles, from grand Colonial Revival homes to charming Craftsman bungalows, creating a visually appealing and inviting atmosphere. The well-maintained homes and gardens, along with the neighborhood's quiet, residential feel, offer a peaceful retreat for visitors while still being close to the city's main attractions.

5. Top Place to Invest in Winston-Salem, North Carolina - Reynolda Village

Reynolda Village, a historic district in Winston-Salem, has emerged as a sought-after location for Airbnb investors. This charming area, once part of the R.J. Reynolds estate, now offers a unique mix of shops, restaurants, and attractions, all set against a backdrop of stunning architecture and beautifully landscaped gardens.

Reynolda Village Airbnb Market Data:

  • Average Revenue – $31K per year
  • Average Daily Rate – $188.4 per night
  • Average Occupancy Rate – 53%
  • Average RevPAR – $99.6

Convenience - 6/10

Located just north of downtown Winston-Salem, Reynolda Village is easily accessible by car but may have limited public transportation options. While the village offers various amenities, including shops, restaurants, and services, visitors may need to rely on a vehicle to explore other parts of the city, slightly impacting its overall convenience score.

Tourist Attractions - 8/10

Reynolda Village is home to several notable tourist attractions, including the Reynolda House Museum of American Art, which showcases an impressive collection of American art and decorative arts. The village also features the Reynolda Gardens, a beautiful 129-acre estate with formal gardens, walking trails, and a conservatory. These attractions draw visitors from both the local area and beyond.

Things to Do - 7/10

In addition to exploring the museum and gardens, visitors to Reynolda Village can enjoy a variety of shopping and dining options. The village features a mix of local boutiques, art galleries, specialty shops, and several restaurants and cafes. While the area may have limited nightlife options, its unique charm and historic setting provide a memorable experience for visitors.

Average Home Prices - 9/10

According to Zillow data for 2024, the median home value in the neighborhoods surrounding Reynolda Village is $450,000, with a 4.2% appreciation rate over the past year. While this price point is higher than many other areas in Winston-Salem, the village's prime location, historic charm, and proximity to attractions justify the investment for Airbnb investors. The steady appreciation rate also indicates a stable and growing market.

Proximity to Work-Related Travel - 5/10

Reynolda Village is located further from the city's main business districts and convention centers compared to other neighborhoods in Winston-Salem. While the village is still within a reasonable driving distance from major employers like Wake Forest Baptist Medical Center, it may be less convenient for business travelers attending conferences or events in the city center.

X-Factor - 9/10

Reynolda Village's unique appeal lies in its rich history, stunning architecture, and beautifully landscaped surroundings. The village's historic buildings, many of which have been carefully restored and repurposed, create a charming and inviting atmosphere that sets it apart from other areas in Winston-Salem. The combination of cultural attractions, shopping, and dining options within a picturesque historic district makes Reynolda Village a truly desirable destination for visitors and a promising opportunity for Airbnb investors.

⚡️
Reveal your property’s rental profitability

Buy this property and list it on Airbnb.