Airbnb City Guide: The Best Places To Invest in Grand Prairie, Texas

Airbnb Rules and Regulations in Grand Prairie, Texas

Grand Prairie has implemented comprehensive regulations for short-term rentals like Airbnb as of 2024. All hosts must obtain a permit from the city, which involves submitting an application, paying a fee, and passing safety inspections. Short-term rentals are only permitted in certain zoning districts, primarily residential areas, with restrictions on the number of guests and vehicles allowed. Hosts are required to maintain a local responsible party, such as an Airbnb co-host or property manager, within a specified radius to address any issues that may arise.

Additionally, they must collect and remit hotel occupancy taxes, currently set at 7% of the rental price. The city has cracked down on illegal rentals, issuing fines and cease-and-desist orders to violators. These measures aim to strike a balance between supporting the sharing economy and preserving the character of residential neighborhoods. Prospective Airbnb investors should familiarize themselves with Grand Prairie's evolving regulations to ensure compliance and avoid penalties.

Grand Prairie Airbnb Market Data:

• Average Revenue – $42.4K per year
• Average Daily Rate – $232.4 per night
• Average Occupancy Rate – 50%
• Average RevPAR – $117.8
• Average Home Prices – $324,917

1. Top Place to Invest in Grand Prairie, Texas - Downtown

Downtown Grand Prairie is the city's vibrant heart, offering a unique blend of historic charm and modern amenities, making it an attractive destination for Airbnb investors seeking to capitalize on the growing demand for short-term rentals in the Dallas-Fort Worth metroplex.

Downtown Airbnb Market Data:

• Average Revenue – $41.4K per year
• Average Daily Rate – $222.4 per night
• Average Occupancy Rate – 51%
• Average RevPAR – $115.7

Convenience - 8/10

The downtown area boasts a pedestrian-friendly layout, with numerous shops, restaurants, and entertainment venues within walking distance. Excellent public transportation options, including the DART light rail system, provide convenient access to other parts of the metroplex, ensuring a hassle-free experience for visitors.

Tourist Attractions - 7/10

Several notable attractions are located in downtown Grand Prairie, such as the Grand Prairie Memorial Airpark, which showcases vintage aircraft and hosts aviation-themed events. The historic Main Street district and the Grand Prairie Farmers Market offer visitors a glimpse into the city's rich cultural heritage.

Things to Do - 8/10

Downtown Grand Prairie offers diverse activities for visitors, from dining at local eateries and breweries to attending festivals and events at the Grand Prairie AirHogs baseball stadium. The area's thriving arts scene, with galleries, theaters, and live music venues, provides ample entertainment options.

Average Home Prices - 7/10

According to Zillow data for 2024, the median home price in Downtown Grand Prairie is $295,000, representing a 3.5% appreciation rate over the past year, slightly higher than the Dallas-Fort Worth metropolitan area average. While prices are relatively affordable, the limited inventory of single-family homes in the downtown area may pose challenges for investors.

Proximity to Work-Related Travel - 9/10

Downtown Grand Prairie's location is excellent for corporate rentals, with the Dallas/Fort Worth International Airport and the Arlington Convention Center just a short drive away. The area is also in close proximity to several major employers, such as the Grand Prairie Premium Outlets and the Epic Waters Indoor Waterpark.

X-Factor - 8/10

Its unique blend of historical charm and modern amenities sets Downtown Grand Prairie apart. The area's well-preserved architecture and vibrant cultural scene create a distinct atmosphere, while the presence of new developments and entertainment options add an exciting, contemporary vibe. This combination makes Downtown Grand Prairie an attractive destination for a wide range of visitors.

2. Top Place to Invest in Grand Prairie, Texas - Westchester

Westchester, a well-established neighborhood in Grand Prairie, offers a perfect blend of suburban tranquility and urban convenience, making it an attractive option for aspiring Airbnb investors seeking to tap into the growing demand for short-term rentals in the Dallas-Fort Worth metroplex.

Westchester Airbnb Market Data:

• Average Revenue – $46.9K per year
• Average Daily Rate – $256.8 per night
• Average Occupancy Rate – 50%
• Average RevPAR – $128.6

Convenience - 8/10

Westchester is conveniently located near major highways, providing easy access to downtown Dallas and other surrounding areas. The neighborhood itself is well-planned, with a variety of shopping and dining options within its boundaries, ensuring a comfortable and hassle-free experience for visitors.

Tourist Attractions - 6/10

While Westchester itself does not boast any major tourist attractions, its proximity to the Dallas-Fort Worth metroplex offers a wealth of opportunities for visitors to explore. The nearby Grand Prairie Premium Outlets and the Epic Waters Indoor Waterpark provide entertainment options for families and shoppers alike.

Things to Do - 7/10

Westchester offers visitors a range of recreational activities, including several parks, walking trails, and sports facilities. The neighborhood is also home to a variety of dining options, ranging from casual eateries to upscale restaurants. The nearby Grand Prairie Farmers Market provides opportunities for visitors to experience local culture and cuisine, quickly making it a solid foodie destination.

Average Home Prices - 7/10

According to Zillow data for 2024, the median home price in Westchester is $325,000, reflecting a 3.8% appreciation rate over the past year. These prices are relatively affordable compared to other parts of the Dallas-Fort Worth metroplex, making Westchester an attractive option for Airbnb investors seeking a balance between affordability and amenities.

Proximity to Work-Related Travel - 7/10

Westchester is conveniently located near several major employment hubs, including the Dallas/Fort Worth International Airport and the Arlington Convention Center. Its proximity to major highways and public transportation options makes it an ideal base for business travelers attending conferences or events in the metroplex.

X-Factor - 8/10

Westchester's unique selling point is its blend of suburban living and access to urban amenities. The neighborhood's well-maintained parks and recreational facilities provide opportunities for outdoor activities, while its proximity to major employment centers and entertainment options caters to the needs of both leisure and business travelers. Additionally, the area's ongoing development and growth suggest a stable demand for short-term rentals in the future.

3. Top Place to Invest in Grand Prairie, Texas - Lakeland Heights

Lakeland Heights, a picturesque neighborhood in Grand Prairie, offers a serene and family-friendly environment, making it an attractive option for Airbnb investors seeking to cater to visitors looking for a peaceful retreat within the Dallas-Fort Worth metroplex.

Lakeland Heights Airbnb Market Data:

• Average Revenue – $32.2K per year
• Average Daily Rate – $176.5 per night
• Average Occupancy Rate – 50%
• Average RevPAR – $90.2

Convenience - 7/10

Lakeland Heights is conveniently located near major highways, providing easy access to downtown Dallas and other surrounding areas. The neighborhood itself is well-planned, with a variety of shopping and dining options within its boundaries, ensuring a comfortable experience for visitors.

Tourist Attractions - 5/10

While Lakeland Heights itself does not boast any major tourist attractions, its proximity to the Dallas-Fort Worth metroplex offers a wealth of opportunities for visitors to explore. The nearby Joe Pool Lake and Cedar Hill State Park provide outdoor recreation options for nature enthusiasts.

Things to Do - 6/10

Lakeland Heights offers visitors a range of recreational activities, including several parks, walking trails, and sports facilities. The neighborhood is also home to a variety of dining options, ranging from casual eateries to upscale restaurants. However, those seeking a more vibrant nightlife scene may need to venture into downtown Dallas or other parts of the metroplex.

Average Home Prices - 8/10

According to Zillow data for 2024, the median home price in Lakeland Heights is $285,000, reflecting a 4.2% appreciation rate over the past year. These prices are relatively affordable compared to other parts of the Dallas-Fort Worth metroplex, making Lakeland Heights an attractive option for Airbnb investors seeking a balance between affordability and amenities. It's a great location for investors looking to buy a property to list on Airbnb.

Proximity to Work-Related Travel - 6/10

Lakeland Heights is conveniently located near several major employment hubs, including the Dallas/Fort Worth International Airport and the Arlington Convention Center. However, its distance from other major business centers and convention facilities may be less appealing for business travelers with tight schedules.

X-Factor - 8/10

Lakeland Heights' unique selling point is its tranquil and family-friendly atmosphere. The neighborhood's well-maintained parks, walking trails, and proximity to outdoor recreation areas create a serene environment for visitors seeking a peaceful retreat. The area's strong sense of community and excellent schools make it an attractive option for families or extended stays.

4. Top Place to Invest in Grand Prairie, Texas - Chase Oaks

Chase Oaks, a rapidly growing community in Grand Prairie, offers a perfect blend of modern amenities and natural beauty, making it an attractive option for Airbnb investors seeking to tap into the area's burgeoning residential market.

Chase Oaks Airbnb Market Data:

• Average Revenue – $41.4K per year
• Average Daily Rate – $222.4 per night
• Average Occupancy Rate – 51%
• Average RevPAR – $115.7

Convenience - 8/10

Chase Oaks is conveniently situated near major highways, providing easy access to downtown Dallas and other surrounding areas. The neighborhood itself is well-planned, with a variety of shopping and dining options within its boundaries, ensuring a hassle-free experience for visitors.

Tourist Attractions - 6/10

While Chase Oaks itself does not boast any major tourist attractions, its proximity to the Dallas-Fort Worth metroplex offers a wealth of opportunities for visitors to explore. The nearby Grand Prairie Premium Outlets and the Epic Waters Indoor Waterpark provide entertainment options for families and shoppers alike.

Things to Do - 7/10

Chase Oaks offers a range of recreational activities for visitors, including several parks, walking trails, and sports facilities. The neighborhood is also home to a variety of dining options, ranging from casual eateries to upscale restaurants. The nearby Grand Prairie Farmers Market provides opportunities for visitors to experience local culture and cuisine.

Average Home Prices - 7/10

According to Zillow data for 2024, the median home price in Chase Oaks is $335,000, reflecting a 3.7% appreciation rate over the past year. These prices are relatively affordable compared to other parts of the Dallas-Fort Worth metroplex, making Chase Oaks an attractive option for Airbnb investors seeking a balance between affordability and amenities.

Proximity to Work-Related Travel - 8/10

Chase Oaks is conveniently located near several major employment hubs, including the Dallas/Fort Worth International Airport and the Arlington Convention Center. Its proximity to major highways and public transportation options makes it an ideal base for business travelers attending conferences or events in the metroplex.

X-Factor - 8/10

Chase Oaks' unique selling point is its blend of modern living and access to natural beauty. The neighborhood's well-maintained parks and recreational facilities provide opportunities for outdoor activities, while its proximity to major employment centers and entertainment options caters to the needs of both leisure and business travelers. Additionally, the area's ongoing development and growth suggest a stable demand for short-term rentals in the future.

5. Top Place to Invest in Grand Prairie, Texas - The Cove

The Cove, a picturesque and exclusive neighborhood in Grand Prairie, offers a serene and luxurious living experience, making it an attractive option for Airbnb investors seeking to cater to visitors looking for a high-end retreat within the Dallas-Fort Worth metroplex.

The Cove Airbnb Market Data:

• Average Revenue – $41.6K per year
• Average Daily Rate – $247.9 per night
• Average Occupancy Rate – 46%
• Average RevPAR – $113

Convenience - 8/10

The Cove is conveniently located near major highways, providing easy access to downtown Dallas and other surrounding areas. The neighborhood itself is well-planned, with a variety of upscale shopping and dining options within its boundaries, ensuring a comfortable and hassle-free experience for visitors.

Tourist Attractions - 6/10

While The Cove itself does not boast any major tourist attractions, its proximity to the Dallas-Fort Worth metroplex offers a wealth of opportunities for visitors to explore. The nearby Grand Prairie Premium Outlets and the Epic Waters Indoor Waterpark provide entertainment options for families and shoppers alike.

Things to Do - 7/10

The Cove offers visitors a range of recreational activities, including several parks, walking trails, and sports facilities. The neighborhood is also home to a variety of upscale dining options, ranging from casual eateries to fine dining establishments. The nearby Grand Prairie Farmers Market provides opportunities for visitors to experience local culture and cuisine.

Average Home Prices - 9/10

According to Zillow data for 2024, the median home price in The Cove is $625,000, reflecting a 4.5% appreciation rate over the past year. These prices are on the higher end for the Dallas-Fort Worth metroplex, reflecting the neighborhood's exclusivity and high-end amenities, perfect for investors looking for Airbnb luxe properties.

Proximity to Work-Related Travel - 7/10

The Cove is conveniently located near several major employment hubs, including the Dallas/Fort Worth International Airport and the Arlington Convention Center. However, its distance from other major business centers and convention facilities may be less appealing for business travelers with tight schedules.

X-Factor - 9/10

The Cove's unique selling point is its luxurious and exclusive atmosphere. The neighborhood's well-maintained parks, walking trails, and high-end amenities create a serene and upscale environment for visitors seeking a premium experience. The area's strong sense of community and excellent schools make it an attractive option for families or extended stays.