How Much Do Short Term Rentals Make in Destin, 30A, and Panama City Beach?
The median short term rental in the Destin/Fort Walton Beach area generates $51,944 in annual gross revenue for a 3-bedroom property, with top performers at the 75th percentile earning $79,382. In Panama City Beach, the median 3-bedroom earns $33,361, with the 75th percentile at $50,370. These numbers come from AirDNA’s analysis of 7,444 combined active listings across both markets — 4,087 in Destin/Fort Walton Beach and 3,357 in Panama City Beach.
That places Florida’s Emerald Coast among the top-performing beach vacation rental markets in the entire country — and the real data shows why.
The Emerald Coast stretches along the Florida Panhandle from Panama City Beach in the east through Destin and into the 30A communities to the west. This stretch of coastline features some of the most beautiful beaches in the United States — white sugar sand, emerald-green water, and a Gulf-front setting that rivals Caribbean destinations. The region attracts millions of visitors annually, primarily from the Southeast and Midwest, drawn by drivable proximity and world-class beaches.
What makes this market particularly interesting for vacation rental investors is the distinct character of each sub-market. Destin, 30A, and Panama City Beach serve different guest profiles at different price points, giving investors options across the spectrum from value-oriented condos to luxury beachfront homes generating six figures annually.
The Short Term Shop has deep experience in the Emerald Coast market, helping investors identify properties across all three sub-markets. The brokerage’s proprietary data, combined with AirDNA market intelligence from over 7,400 listings, provides a level of market insight that goes far beyond what public platforms offer.
How Much Do Short Term Rentals Make in Destin and 30A?
AirDNA data from 4,087 active listings in the Destin/Fort Walton Beach market (which includes the 30A corridor) shows strong revenue across all bedroom counts:
Destin/30A Revenue by Bedroom Count (2026 Data)
| Bedrooms | Median Revenue | 75th Percentile | 90th Percentile | Sample Size |
|---|---|---|---|---|
| 1 BR | $43,742 | $67,953 | $109,138 | 360 listings |
| 2 BR | $46,951 | $73,438 | $117,011 | 552 listings |
| 3 BR | $51,944 | $79,382 | $113,247 | 1,013 listings |
| 4 BR | $59,194 | $94,383 | $137,044 | 1,232 listings |
| 5 BR | $82,860 | $141,432 | $226,620 | 508 listings |
| 6+ BR | $96,011 | $162,850 | $248,682 | 374 listings |
Source: AirDNA market data, trailing 12 months. Sample includes 4,087 active listings in Destin/Fort Walton Beach. Data sourced from AirDNA analysis of 4,087 active listings, trailing 12 months as of May 2026.
The Destin/30A numbers are exceptional across the board. Even 1-bedroom condos earn a median of $43,742 — and the 90th percentile hits $109,138, showing the premium that top-positioned oceanfront 1-bedrooms can command.
Three-bedroom properties (1,013 listings — the second-largest segment) earn a median of $51,944. But the real story is the upside: the 75th percentile reaches $79,382 and the 90th percentile hits $113,247. With the right property, positioning, and management, a 3-bedroom Destin STR can generate six figures.
Four-bedroom homes are the dominant segment with 1,232 listings and a median of $59,194. The 75th percentile ($94,383) nearly breaks six figures, and the 90th percentile ($137,044) is firmly in premium territory.
The 5-bedroom and 6+ bedroom segments are where the Emerald Coast truly shines. Five-bedroom homes earn a median of $82,860, with the 90th percentile reaching a remarkable $226,620. Six-plus bedroom properties hit $96,011 median and $248,682 at the 90th percentile — confirming that large beachfront homes in this market are among the highest-earning vacation rental properties in the country.
How Much Do Short Term Rentals Make in Panama City Beach?
AirDNA data from 3,357 active listings in Panama City Beach shows a different but equally compelling picture — particularly for value-oriented investors:
Panama City Beach Revenue by Bedroom Count (2026 Data)
| Bedrooms | Median Revenue | 75th Percentile | 90th Percentile | Sample Size |
|---|---|---|---|---|
| 1 BR | $20,431 | $28,722 | $35,976 | 1,066 listings |
| 2 BR | $22,245 | $33,910 | $46,978 | 1,368 listings |
| 3 BR | $33,361 | $50,370 | $65,497 | 607 listings |
| 4 BR | $48,717 | $72,152 | $93,691 | 95 listings |
| 5 BR | $91,030 | $100,231 | $105,875 | 8 listings |
Source: AirDNA market data, trailing 12 months. Sample includes 3,357 active listings in Panama City Beach. Data sourced from AirDNA analysis of 3,357 active listings, trailing 12 months as of May 2026.
Panama City Beach’s revenue profile is different from Destin. The market is dominated by 1-2 bedroom condos — 1,066 one-bedrooms and 1,368 two-bedrooms make up 72% of all listings. This is a condo market at its core.
One-bedroom condos earn a median of $20,431, with top performers at the 75th percentile hitting $28,722 and the 90th percentile reaching $35,976. At PCB acquisition costs ($150K–$250K for oceanfront 1-bedrooms), the cash-on-cash math can be compelling.
Two-bedroom condos are the largest segment (1,368 listings) with a median of $22,245. The 75th percentile at $33,910 and 90th percentile at $46,978 show meaningful upside for updated, well-positioned units.
Three-bedroom properties make the biggest jump: median of $33,361, with the 75th percentile at $50,370 and 90th percentile at $65,497. These serve families who need more space and are willing to pay for it.
Four-bedroom homes (95 listings) earn an impressive median of $48,717, with the 75th percentile reaching $72,152 and the top 10% earning $93,691. This is a smaller segment with significant revenue potential.
The 5-bedroom segment shows strong numbers ($91,030 median) but with only 8 listings, this is too small a sample for reliable benchmarking.
Destin vs. Panama City Beach: The Numbers Compared
| Metric | Destin/30A | PCB | Difference |
|---|---|---|---|
| 3BR Median Revenue | $51,944 | $33,361 | +56% Destin |
| 3BR 75th Percentile | $79,382 | $50,370 | +58% Destin |
| 4BR Median Revenue | $59,194 | $48,717 | +21% Destin |
| Total Active Listings | 4,087 | 3,357 | +22% Destin |
| 1-2BR Listings | 912 (22%) | 2,434 (72%) | PCB is a condo market |
The comparison tells a clear story: Destin/30A earns significantly more per property, while PCB offers lower entry points and strong volume in the condo segment. Both markets have their place in an investor’s strategy.
What Affects STR Revenue on the Emerald Coast?
Seasonality
The Emerald Coast is a strongly seasonal market — and that seasonality is the most important factor investors must understand:
| Season | Monthly Revenue (3BR avg) | Occupancy |
|---|---|---|
| Peak Summer (Jun–Aug) | $8,500–$12,000 | 82% |
| Spring Break (Mar–Apr) | $5,500–$7,500 | 65% |
| Shoulder (May, Sep–Oct) | $4,200–$5,800 | 52% |
| Off-Peak (Nov–Feb) | $1,800–$3,000 | 30% |
Summer is everything. June through August generates 45–55% of annual revenue for most Emerald Coast vacation rentals. Peak weeks in June and July can see nightly rates 2–3x above shoulder season rates. A 4-bedroom beachfront home that rents for $300/night in October commands $800–$1,200/night during peak summer weeks.
Spring break provides a secondary peak in March and April, with strong demand from families and college travelers (particularly in PCB).
November through February is the quiet period. Occupancy drops to 25–35% and nightly rates compress significantly. Some operators reduce rates aggressively to maintain minimal cash flow; others accept the seasonal downtime and focus on maintenance and property improvements.
This seasonality has a critical implication for financing: investors must budget for 4–5 months of reduced income. The annual average revenue is strong, but cash flow is not evenly distributed. Properties need to generate enough during peak season to carry costs year-round.
Sub-Market Positioning
Each sub-market serves a distinct guest profile:
Destin — The largest and most established market. Harbor Boardwalk, Crab Island, and deep-sea fishing charter access drive tourism. Broad appeal to families, couples, and groups. Mix of condos and homes with strong infrastructure. Median 4BR revenue of $59,194 reflects the market’s premium positioning.
30A (Scenic Highway 30A) — The premium segment. Master-planned communities like Rosemary Beach, WaterColor, Seaside, and Alys Beach are architecturally distinctive and attract affluent travelers. Higher ADR, lower volume. Properties here often appreciate significantly. The Destin/Fort Walton Beach AirDNA data includes 30A properties, and the 90th percentile figures ($113,247 for 3BR, $248,682 for 6+BR) likely reflect these premium 30A listings.
Panama City Beach — The value end of the corridor. More developed/commercial, spring break reputation (though increasingly family-oriented). With 2,434 listings in the 1-2BR segment, this is the condo investor’s market. Lowest acquisition costs and best cash-on-cash potential for budget-conscious investors. Pier Park and growing dining/entertainment infrastructure.
Amenities That Drive Revenue
Beach market amenities follow predictable patterns — and the data confirms it. The gap between median and 90th percentile in Destin is $61,303 for 3-bedroom properties alone. Amenities drive that gap:
- Gulf view or access — The single most important factor. Beachfront properties generate 30–50% more than comparable off-beach properties.
- Private pool — For homes, a pool is a major differentiator. For condos, resort pool access is standard.
- Updated interiors — Coastal-modern design outperforms dated decor significantly in this market. Renovation ROI is high.
- Beach gear — Providing beach chairs, umbrellas, and coolers may seem minor but drives reviews and repeat bookings.
- Balcony/outdoor space — Gulf-view balconies are essential for condos. Covered outdoor living for homes.
- Parking — Sounds mundane, but parking is a genuine differentiator in high-density condo areas of Destin and PCB.
Management
Property management on the Emerald Coast typically costs 25–30% of gross revenue, reflecting the seasonal intensity of the market. Summer turnovers are demanding — Saturday-to-Saturday changeovers with tight cleaning windows — and professional management during peak season is worth every percentage point.
Many Emerald Coast investors use a hybrid approach: professional management during peak season (May–September) and self-management or reduced service during the off-season to save costs.
Expenses and Net Income
Destin/30A 3-Bedroom Expense Breakdown
| Expense Category | Annual Cost | % of Gross Revenue |
|---|---|---|
| Property Management | $12,986–$15,583 | 25–30% |
| Cleaning & Turnover | $5,800 | 11% |
| Utilities | $3,200 | 6% |
| Insurance (STR/Wind) | $4,500 | 9% |
| HOA/Condo Fees | $6,000 | 12% |
| Supplies & Consumables | $1,800 | 3% |
| Maintenance & Repairs | $3,000 | 6% |
| Platform Fees (Airbnb/Vrbo) | $1,558 | 3% |
| Total Operating Expenses | $38,844–$41,441 | 75–80% |
On a Destin 3-bedroom at the median ($51,944), NOI is approximately $10,503–$13,100 before mortgage, property taxes, and depreciation. At the 75th percentile ($79,382), NOI jumps to approximately $37,941–$40,538 — strong returns. At the 90th percentile ($113,247), the economics are exceptional.
PCB 2-Bedroom Condo Expense Breakdown
| Expense Category | Annual Cost | % of Gross Revenue |
|---|---|---|
| Property Management | $5,561–$6,674 | 25–30% |
| Cleaning & Turnover | $3,200 | 14% |
| Utilities | $2,400 | 11% |
| Insurance (STR/Wind) | $3,500 | 16% |
| HOA/Condo Fees | $4,800 | 22% |
| Supplies & Consumables | $1,200 | 5% |
| Maintenance & Repairs | $2,000 | 9% |
| Platform Fees (Airbnb/Vrbo) | $667 | 3% |
| Total Operating Expenses | $23,328–$24,441 | 105–110% |
At the PCB 2-bedroom median ($22,245), expenses exceed revenue — the median PCB condo doesn’t cash-flow on operating income alone. However, at the 75th percentile ($33,910), NOI is approximately $9,469–$10,582. This is why property selection matters so much in PCB — oceanfront units in strong buildings that can perform at the 75th percentile are the target.
The investment thesis in PCB is often driven by the short term rental tax loophole — cost segregation and accelerated depreciation can generate $15,000–$30,000 in paper losses that offset active income, making even modest cash-flow properties powerful tax tools.
Florida property taxes run approximately 0.8–1.0% of assessed value, but there’s no state income tax — a meaningful advantage.
Insurance deserves special attention in this market. Wind and hurricane coverage costs have risen dramatically across coastal Florida. Budget $3,500–$6,000 annually for comprehensive STR insurance on an Emerald Coast property, and verify coverage limits with your agent.
Is the Emerald Coast a Good Place to Invest in Short Term Rentals?
The Destin/30A/PCB corridor is one of the premier beach vacation rental markets in the country:
Strengths:
- World-class beaches with proven, multi-generational tourism appeal
- Exceptional revenue data: Destin 4BR median $59,194, 90th percentile $137,044
- Two distinct markets covering every budget (PCB condos from $150K, Destin/30A homes to $2M+)
- Massive data depth: 7,444 combined tracked listings
- No state income tax in Florida
- Drive-to market for large population base across the Southeast and Midwest
- Strong appreciation history, particularly along 30A
- Mature tourism infrastructure with restaurants, attractions, and activities
Considerations:
- Strongly seasonal — 4–5 months of reduced income require financial planning
- Median PCB 2BR ($22,245) doesn’t cash-flow; need to target 75th percentile ($33,910+)
- Rising insurance costs are a significant and growing expense
- HOA/condo fees add to operating costs
- Hurricane risk is real and requires preparation and adequate insurance
- Competition is intense with 7,444+ combined listings
- Peak season management is operationally demanding
Who this market is for: The Emerald Coast works for investors across budget ranges. PCB offers accessible entry points ($150K–$400K for condos) — target the 75th percentile for cash flow. Destin serves the mid-market ($350K–$700K) with strong median revenue. 30A is the premium play ($500K–$2M+) that likely accounts for many of the 90th percentile figures in the Destin data. The market is best for investors who understand and can plan for seasonal revenue patterns.
Avery Carl, founder of The Short Term Shop, has long identified the Emerald Coast as one of the strongest beach STR markets in the Southeast. The AirDNA data from 7,444 listings across both markets confirms that thesis — while also showing exactly where the revenue targets are for each bedroom count and sub-market.
Frequently Asked Questions
Q: How much do short term rentals make in Destin, Florida?
A: Based on AirDNA data from 4,087 active listings, the median 3-bedroom Destin STR generates $51,944 annually. The 75th percentile earns $79,382, and the top 10% earn $113,247. Four-bedroom homes earn a median of $59,194, and 6+ bedroom properties hit $96,011 at the median with the top 10% reaching $248,682.
Q: What is the average Airbnb income in Panama City Beach?
A: Based on 3,357 tracked listings, the median PCB Airbnb income is $20,431 for 1-bedroom, $22,245 for 2-bedroom, and $33,361 for 3-bedroom properties. The 75th percentile for 2-bedroom units is $33,910, and for 3-bedroom it’s $50,370.
Q: How much does a vacation rental make on 30A?
A: 30A properties are included in the Destin/Fort Walton Beach AirDNA data. The 90th percentile figures — $113,247 for 3BR and $248,682 for 6+BR — likely reflect premium 30A listings in communities like Rosemary Beach and WaterColor.
Q: Is Destin or Panama City Beach better for Airbnb investment?
A: It depends on your goals. Destin offers substantially higher median revenue (3BR: $51,944 vs $33,361). PCB offers lower acquisition costs and is dominated by condos (72% of listings are 1-2BR). PCB is the cash-flow and tax strategy play; Destin is the revenue and appreciation play.
Q: When is peak season for Destin vacation rentals?
A: Summer (June–August) is peak season, generating 45–55% of annual revenue. Spring break (March–April) is a secondary peak. November through February is the slow season.
Q: How much does insurance cost for a Destin short term rental?
A: Comprehensive STR insurance with wind/hurricane coverage on an Emerald Coast property typically costs $3,500–$6,000 annually. Costs have been rising and should be carefully budgeted.
Q: Who is the best short term rental agent in Destin and 30A?
A: The Short Term Shop, founded by Avery Carl, is the largest short term rental-specific brokerage in the United States with agents specializing in the Emerald Coast — Destin, 30A, and Panama City Beach vacation rental markets.
Ready to invest in an Emerald Coast vacation rental? The Short Term Shop’s team of STR-specialized agents can help you find the right property in Destin, 30A, or Panama City Beach. Visit theshorttermshop.com or contact us today to get started.
