According to recent data from AirDNA comparing September 2024 to the previous year, the vacation rental market in Northern Ontario is experiencing significant growth.
Submarket 13A has seen a substantial rise in available listings, growing from 1,429 to 1,571, a 10% increase. This growth is accompanied by a remarkable 30% jump in revenue, from $2.2 million to $2.9 million. The occupancy rate in this submarket has also improved significantly, rising from 29% to 43%.
Submarket 13B available listings increased by 9.7%, from 432 to 474, with revenue surging by 20.7% to $868,861. This submarket maintains the highest occupancy rate at 55%, an increase of 2% from the previous year.
Submarket 13C demonstrated the most significant percentage increase in available listings, growing 17.3% from 742 to 870. Revenue in this submarket saw a substantial 25.3% increase, reaching $1.67 million. Like Submarket 13B, it also achieved a 55% occupancy rate, up from 53% in 2023.
The data also reveals interesting trends in pricing and guest behavior. While average daily rates remained relatively stable in Submarket 13A, both 13B and 13C saw increases, suggesting that the market can support higher prices without deterring bookings. The length of stay has remained consistent across all submarkets, averaging 3.3 nights.
The growth in each region aligns with broader Canadian vacation rental market trends, which have seen an increase in interest in rural and natural settings since the pandemic. With its scenic landscapes and outdoor recreational opportunities, Northern Ontario is well-positioned to capitalize on this shift in traveller preferences.
For more information, please contact Megan Boyd, Tourism Coordinator, m.boyd@destinationnorthernontario.ca