The LTR Genie Score of Saratoga Springs, NY is 58 and STR Genie Score is 52, indicating a moderate level of attractiveness for both long-term and short-term rental investments. The LTR Rentability is moderate, suggesting that the market may be suitable for long-term rental investments. However, the STR Net ROI is higher than the LTR Net ROI, indicating that short-term rental investments may offer better returns in this market. The 1-Year Price Appreciation Forecast is positive, which could be a good sign for potential property appreciation.
Saratoga Springs, NY is known for its historic charm, cultural attractions, and natural beauty, making it a desirable location for both tourists and residents. The city is home to the famous Saratoga Race Course, Saratoga Spa State Park, and a vibrant downtown area with shops, restaurants, and entertainment options.
In conclusion, Saratoga Springs, NY may be a good market for real estate investors looking to diversify their portfolio with both long-term and short-term rental properties. The positive price appreciation forecast and the potential for higher returns in short-term rentals make this market attractive for investors seeking a mix of stability and growth opportunities. However, it is important to conduct thorough market research and due diligence before making any investment decisions.
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Saratoga Springs, NY Investment Data and Rental Metrics
Investment Data & Rental Metrics
LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$1,950
Monthly Cash Flow
-$1,911
Principal + Equity
$3,287
Annual Total Gain
$16,505
Cash on Cash
-14.68%
Net ROI %
STR Financial Performance
Median Price
Avg. Daily Rate
$447
Occupancy Rate
40%
Monthly Revenue
$3,614
Monthly Cash Flow
-$789
Principal + Equity
$3,287
Annual Total Gain
$29,971
Cash on Cash %
-6.06%
Net ROI %
Market Health & Growth
Median Income
$100,485
Population
28,542
LTR Renter %
42.54%
Forecast (1 yr)
2.2%
Appreciation (1 yr)
2.14%
Appreciation (5 yr)
46.29%
Appreciation (10 yr)
69.06%
Job Growth
-0.81%
LTR Rentability
Moderate
STR Demand
30
STR Rentals
1,390
Top Public Schools
A-Lake Avenue Elementary School
BCaroline Street Elementary School
B
B
B
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
A-
Overall
Top-level market grade
Best Suburbs to Live in New York
#137out of 389 markets
Best Places to Retire in New York
#189out of 591 markets
Best Suburbs for Young Professionals in New York
#77out of 389 markets
A-
Public School
C
Crime And Safety
C
Housing
A-
Nightlife
A-
Good For Families
Diversity
Jobs
Weather
Cost Of Living
Health And Fitness
Outdoor Activities
Commute
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Saratoga Springs, NY.
In Saratoga Springs, NY, Short Term Rentals (STRs) are regulated by the city's Zoning Ordinance and the City Code.
1. Zoning Regulations: The city of Saratoga Springs has specific zoning regulations that govern short term rentals. Investors should be aware of the zoning district in which the property is located, as some districts may have restrictions on STRs or require special permits for short term rental operations.
2. Permitting Requirements: In Saratoga Springs, property owners must obtain a Short Term Rental Permit in order to legally operate a short term rental. The permit application process may include submitting documentation such as proof of insurance, a floor plan of the property, and a list of emergency contact information for guests.
3. Occupancy Limits: The city of Saratoga Springs has occupancy limits for short term rentals, which vary depending on the size and type of property. Investors should be aware of these limits and ensure that their property complies with them.
4. Noise and Nuisance Regulations: Saratoga Springs has noise and nuisance regulations that apply to short term rentals. Investors should be aware of these regulations and take steps to ensure that their guests are respectful of neighbors and the community.
5. Taxation: Short term rentals in Saratoga Springs are subject to occupancy taxes, which must be collected and remitted to the city. Investors should be aware of these tax obligations and ensure that they are in compliance with local tax laws.
6. Code Compliance: Investors should ensure that their property meets all building and safety codes required for short term rentals in Saratoga Springs. This may include requirements for smoke detectors, carbon monoxide detectors, and fire extinguishers.
Overall, investors considering purchasing a property for short term rental in Saratoga Springs should thoroughly research and understand the local regulations and requirements governing short term rentals in order to ensure compliance and avoid potential legal issues.
Market Trends Over Time
Explore 25 years of market data for Saratoga Springs, NY, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
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