Airbnb Wichita, Kansas: Market Data, Laws & Investor Guide

Wichita, Kansas is emerging as a hidden gem for Airbnb entrepreneurs in 2024. This vibrant Midwestern city offers a unique blend of affordability, growth potential, and untapped demand that makes it an appealing choice for starting a short-term rental business.

Wichita's cost of living is 8.6% below the national average, translating to lower startup costs for Airbnb hosts. Median home values are an affordable $147,700, 37% below the U.S. median. This allows hosts to acquire desirable rental properties at a fraction of the cost compared to major cities.

Tourism in Wichita is on an upswing, with visitor spending hitting a record $1.1 billion in 2022. Major attractions like the Wichita Art Museum, Botanica Gardens, and Old Town draw a steady stream of leisure travelers seeking authentic local experiences that Airbnb excels at providing.

Wichita is also establishing itself as a Midwest hub for business and aviation. Companies like Spirit AeroSystems and Textron Aviation employ thousands, driving demand for comfortable extended stays. With Wichita's airport passenger traffic surging 23% in 2023, the potential for Airbnb hosting is soaring.

Perhaps most compelling is Wichita's untapped market potential. While Airbnb listings grew 26% in 2023, the ratio of listings to population sits at just 1.2 per 1000 residents, a fraction of the 20.7 ratio enjoyed in major cities like Denver. This signifies massive room for growth as Wichita's Airbnb market matures.

For entrepreneurs seeking an affordable, high-potential city to launch an Airbnb business, Wichita stands out as a savvy choice in 2024. With its low costs, growing tourism appeal, and underserved demand, the opportunity is ripe for hosts who move quickly to plant their flag in this Midwestern destination on the rise.

Wichita Short-Term Rental Market Analysis

Wichita's short-term rental market has shown steady growth and resilience in recent years. Here are some key metrics and insights into the city's Airbnb landscape:

Wichita Airbnb Occupancy Rate, Nightly Rate & Seasonality:

• Average Airbnb Occupancy Rate in Wichita: 60%
• Average Daily Rate in Wichita: $139
• Peak Season: July

Comparing Airbnb market data from 2022 to 2024:

1. Total available listings grew from 956 in 2022 to 986 in 2024, a 3% increase.
2. Average monthly occupancy rate increased by 3% from 2022 to 2024.
3. Average daily rate rose 5% from $133 in 2022 to $139 in 2024.

Wichita, Kansas Tourism Industry Growth:

Wichita's tourism industry has experienced notable growth in recent years:

1. Visitor spending hit a record $1.1 billion in 2022 and is projected to grow further in 2024.
2. Lodging spending increased by around $130 million in 2022, more than $10 million per month compared to previous years.
3. Recreational spending grew to $1.2 billion in 2022, $45 million more than the pre-pandemic high.

Wichita, Kansas Key Events & Festivals:

Wichita hosts a variety of annual events and festivals that draw visitors and boost short-term rental demand:

1. Riverfest - Kansas' largest community event (May 31 - June 8, 2024)
2. Wichita Art Museum Outdoor Film Series (Summer 2024)
3. Wichita Vortex Music Festival (August 2024)
4. Tallgrass Film Festival (October 2024)
5. Illuminations at Botanica (November-December 2024)

Wichita, Kansas Booking Durations & Mid-Term Rentals:

Based on Airbnb host forums and local market insights, booking durations in Wichita vary:

1. 49% of listings have a 30+ night minimum stay, indicating a strong mid-term rental market.
2. 27.5% of listings allow 2-night stays, catering to weekend getaways.
3. Local property managers are seeing increased demand for 3-6 month furnished rentals as an alternative to Airbnb.
4. Airbnb itself is promoting monthly stays in Wichita, with 30+ day discounts and tailored search results.

In conclusion, Wichita's short-term rental market is experiencing steady growth, bolstered by increasing visitor spending, a strong events calendar, and growing demand for flexible mid-term stays. With the right strategy and pricing, Airbnb hosts can capitalize on this promising market in 2024 and beyond.

Best Neighborhoods in Wichita for an Airbnb Business

When starting an Airbnb business in Wichita, selecting the right neighborhood is crucial for success. Hosts should consider factors like proximity to attractions, up-and-coming areas, and tourist hotspots. Here are the top 5 neighborhoods in Wichita for an Airbnb business:

1. Old Town

Old Town is a historic district known for its unique shopping, diverse eateries, and attractions like the Warren Old Town Theatre and Museum of World Treasures. It appeals to young adults, business travelers, and weekenders exploring the local nightlife.

1. Average Occupancy Rate: 65%
2. Average Daily Rate: $105
3. Airbnb Seasonality: Year-round, peaking during summer and major events
4. Estimated Annual Revenue: $24,900

Housing prices in Old Town range from lofts in renovated warehouses to townhouses and modern apartments. The median home price in the area is $220,000. One-bedroom and two-bedroom listings provide the best return on investment in this neighborhood.

2. Riverside

Riverside is a picturesque neighborhood along the Little Arkansas River, known for attractions like the Wichita Art Museum, Botanica Gardens, and scenic river paths. It appeals to families, nature lovers, and those seeking a tranquil setting.

1. Average Occupancy Rate: 60%
2. Average Daily Rate: $95
3. Airbnb Seasonality: Best in spring and summer due to outdoor attractions
4. Estimated Annual Revenue: $20,800

Housing options in Riverside include historic homes, bungalows, and apartments with river views. The median home price is $180,000. Two-bedroom and three-bedroom listings offer the best ROI in Riverside.

3. College Hill

College Hill is an upscale, historic neighborhood known for its grandeur and attractions like Clifton Square's boutique shops, College Hill Park, and the Crown Uptown Theatre. It appeals to visitors seeking a refined experience and proximity to events.

1. Average Occupancy Rate: 62%
2. Average Daily Rate: $110
3. Airbnb Seasonality: Consistent demand with peaks during community events
4. Estimated Annual Revenue: $24,900

Housing in College Hill includes historic mansions, colonial homes, and renovated apartments. The median home price is $280,000. Three-bedroom and four-bedroom listings provide the best ROI in this neighborhood.

4. Delano District

The Delano District is a trendy, walkable neighborhood known for its local shops, restaurants, and proximity to Downtown Wichita. It appeals to millennials, foodies, and those seeking a vibrant urban experience.

1. Average Occupancy Rate: 63%
2. Average Daily Rate: $90
3. Airbnb Seasonality: Year-round with peaks during festivals and events
4. Estimated Annual Revenue: $20,700

Housing in the Delano District includes modern apartments, lofts, and townhomes. The median home price is $150,000. Studio and one-bedroom listings offer the best ROI in Delano.

5. East Front

East Front is an up-and-coming neighborhood near Wichita State University, known for its affordability, diversity, and proximity to campus. It appeals to visiting families, college sports fans, and budget-conscious travelers.

• Average Occupancy Rate: 58%
• Average Daily Rate: $75
• Airbnb Seasonality: Peaks during college events and move-in/move-out periods
• Estimated Annual Revenue: $15,900

Housing in East Front includes single-family homes, duplexes, and apartments. The median home price is $120,000, the most affordable of the top neighborhoods. Two-bedroom and three-bedroom listings provide the best ROI in East Front.

Maximizing Your Revenue Through In-Demand Amenities and Properties in Wichita

To set competitive prices for your Airbnb in Wichita, consider factors like location, property type, amenities, seasonality, and local events. Research similar listings in your area to gauge the going rates.

The most successful Airbnb listings in Wichita share some key amenities that help them stand out:

• Well-equipped kitchens with modern appliances
• Stylish, comfortable furnishings and decor
• Outdoor spaces like patios, decks, or yards
• Smart home features like keyless entry and smart thermostats
• Unique amenities like hot tubs, fire pits, or game rooms
• Thoughtful touches like local art, welcome baskets, or guidebooks

Incorporating these in-demand amenities can help your listing attract more guests and command higher rates.

In terms of property types, single-family homes are the most popular in Wichita, followed by apartments and condos. Here's a breakdown of average property prices and potential short-term rental revenue by bedroom count:

Single-Family Homes:

• 1 Bedroom: $120,000 median price, $15,800 estimated annual revenue
• 2 Bedroom: $150,000 median price, $20,700 estimated annual revenue
• 3 Bedroom: $180,000 median price, $24,900 estimated annual revenue
• 4+ Bedroom: $280,000 median price, $24,800 estimated annual revenue

Apartments & Condos:

• Studio: $90,000 median price, $12,500 estimated annual revenue
• 1 Bedroom: $110,000 median price, $14,500 estimated annual revenue
• 2 Bedroom: $140,000 median price, $18,000 estimated annual revenue

While larger homes tend to generate more revenue, they also come with higher upfront costs. Studios and one-bedroom apartments offer a lower barrier to entry for new hosts looking to maximize their return on investment.

By strategically selecting your property type, outfitting it with sought-after amenities, and implementing a dynamic pricing strategy, you can position your Wichita Airbnb listing for maximum earning potential in 2024 and beyond.

Understanding Wichita Short-Term Rental Regulations

Wichita, Kansas has implemented short-term rental regulations to ensure neighborhood harmony and guest safety. Operators must obtain a license for each rental property, submit a detailed application, pay a $225 annual fee, and secure liability insurance. The regulations limit occupancy to two adults per bedroom, with no limit on children.

Following incidents in 2021, Wichita is considering changes to zoning and licensing rules for short-term rentals. Proposed ordinances focus on compliance with current codes and zoning requirements. Property owners would have 12 months to comply, and neighbors could protest a property becoming a short-term rental. Licensing fees are set at $225 per unit annually, with potential suspensions of up to five years for violations.

To start a short-term rental business in Wichita, individuals must adhere to the proposed licensing program, which requires annual license renewal, $250,000 in insurance, a "good-neighbor" policy, gathering limits until 10 p.m., 24/7 operator availability, and city inspections. Non-compliance can result in fines up to $500 per day, restitution, and potential jail time.

Property owners must obtain an annual license from the City's Express Office in the Finance Department. Owner-occupied rentals must be licensed by March 12, 2024, while those requiring additional zoning approval must be licensed by September 12, 2024. Compliance with the Unified Zoning Code is mandatory.

Read our full STR regulations guide for more detailed information about Wichita’s short-term rental regulations, including insights from local hosts and a closer look at other policies.

Keys to Success as a Wichita Airbnb Host

Starting an Airbnb business in Wichita can be a rewarding venture, but success requires more than just a great property. To stand out in this growing market, hosts must understand their target audience, optimize their listings, and provide exceptional guest experiences. Here are some key strategies for thriving as a Wichita Airbnb host.

Popular Amenities and Design Themes in Wichita

Wichita guests are drawn to listings that showcase the city's unique charm and offer modern comforts. Successful hosts incorporate amenities like:

• Well-appointed kitchens with stainless steel appliances
• Cozy outdoor spaces with fire pits or string lights
• Stylish decor that blends modern and rustic elements
• Smart home features like keyless entry and voice-controlled devices
• Thoughtful touches like local art, snacks, or personalized welcome notes

Attracting Wichita Customers:

To attract guests to your Wichita Airbnb, focus on highlighting the city's best features and tailoring your listing to your target audience:

• Emphasize your property's proximity to popular attractions, restaurants, and events
• Use high-quality photos that showcase your space's unique character and amenities
• Craft a compelling listing description that tells a story and sets your property apart
• Optimize your listing for relevant keywords like "Wichita," "Old Town," or "Riverfest"
• Leverage social media and local partnerships to promote your listing to potential guests

Potential Challenges and Success Strategies for Wichita Airbnb Hosts:

While Wichita offers plenty of opportunities for Airbnb hosts, navigating the local market comes with its own challenges. Here are some potential hurdles and tips for overcoming them, based on insights from experienced Wichita hosts:

Seasonality: Wichita's short-term rental market can be seasonal, with slower periods during the winter months. To mitigate this, hosts recommend:

• Offering discounts or special packages during off-peak times
• Targeting business travelers or long-term guests to fill gaps in bookings
• Diversifying your marketing efforts to reach a wider audience

Regulations: Wichita's evolving short-term rental regulations can be complex, with licensing requirements, zoning restrictions, and potential neighbor objections. Successful hosts advise:

• Thoroughly researching and complying with all local regulations
• Communicating proactively with neighbors to address any concerns
• Joining local host groups or hiring a property manager for support

Competition: As Wichita's Airbnb market grows, standing out from the crowd becomes increasingly important. Top hosts recommend:

• Focusing on providing exceptional guest experiences with personalized touches
• Continuously improving your listing with updates and new amenities
• Building a strong brand and reputation through consistent quality and communication

By understanding Wichita's unique market dynamics, tailoring your listing to guest preferences, and adapting to challenges with proven strategies, you can position yourself for success as a Wichita Airbnb host in 2024 and beyond.

Using BNBCalc to Find Profitable Properties in Wichita, Kansas

Investing in a short-term rental property can be a lucrative venture, but it requires careful research and analysis. BNBCalc is a powerful tool that can help aspiring Airbnb entrepreneurs find profitable properties in Wichita, Kansas. By leveraging BNBCalc's data-driven insights and user-friendly interface, investors can make informed decisions and maximize their returns.

Analyze Properties Using BNBCalc:

BNBCalc allows users to easily analyze potential investment properties in Wichita. Simply enter the address, number of bedrooms, and other key details, and BNBCalc will provide a comprehensive report on the property's estimated revenue, occupancy rates, and expenses. This information can help investors determine whether a property is worth pursuing.

Benchmark Comparable Rentals:

One of BNBCalc's most valuable features is the ability to compare a potential investment property to other nearby rentals. By analyzing the performance of similar listings in the area, investors can gain insights into pricing strategies, amenities, and guest preferences. This information can help investors optimize their own listings to fetch top dollar and stay competitive in the Wichita market.

Determine The Right Price and Property Size:

BNBCalc's advanced algorithms can help investors determine the optimal number of bedrooms, bathrooms, and purchase price to maximize revenue. By inputting different scenarios and comparing the projected returns, investors can identify the sweet spot that balances upfront costs with long-term profitability. This feature is particularly useful for those new to the Wichita market who may be unsure about local demand and pricing dynamics.

Make an Offer:

Once you've identified a promising property using BNBCalc's analysis tools, it's time to make an offer. BNBCalc's partnered STR lender, Brian Bockholdt at Alliant Credit Union, can help investors get prequalified for financing at competitive rates. With a solid understanding of the property's potential returns and a prequalification letter in hand, investors can confidently negotiate with sellers and secure their ideal Wichita investment property.

Use Our Tax Calculator:

BNBCalc's tax calculator is a valuable tool for investors looking to maximize their tax deductions. By inputting key financial data, users can estimate potential deductions from bonus depreciation and other tax strategies specific to short-term rentals. This feature can help investors optimize their tax planning and keep more of their hard-earned profits.

Come Up With a Buy Box:

A well-defined buy box is essential for investors seeking to build a profitable Wichita Airbnb portfolio. When creating your buy box, focus on properties that offer:

• Prime locations near popular attractions, business districts, or universities
• Attractive cap rates and cash-on-cash returns based on BNBCalc's projections
• Unique features or amenities that set the property apart from competitors
• Potential for value-add improvements to increase revenue and occupancy
• Alignment with your overall investment goals and risk tolerance

By using BNBCalc's powerful tools and focusing on properties that meet your specific buy box criteria, you can confidently navigate the Wichita short-term rental market and build a thriving Airbnb business in 2024 and beyond.

Ready to start your Airbnb journey in Wichita? Use BNBCalc to analyze potential properties and make informed investment decisions. Our powerful tool provides comprehensive data to help you maximize your profits. Check out this pre-analyzed Wichita Airbnb opportunity and see how BNBCalc can help you succeed in the short-term rental market. Visit BNBCalc.com today and take the first step towards building your Airbnb business.