Kent Ackley’s revenues from his Airbnb listings in Monmouth are up more than 30 percent compared with last year, which itself was a record year since he first put his six rentals on the vacation rental website in 2015.
He’s not alone. Maine is seeing some of the nation’s largest jumps in Airbnb supply, demand and revenue during a nationwide lull, according to AirDNA, which tracks short-term rentals through Airbnb and VRBO.
It found that the revenue for each night that properties were available to rent, a key metric, was down 1.1 percent nationally between May 2022 and May 2023, but in Maine it rose 13 percent as travelers flock to the state for the tourism season. The strong growth in Maine comes at a time when many towns are trying to regulate short-term rentals, which have been blamed for contributing to housing and apartment shortages.
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It is an emotional issue that caught Portland Planning Board Chair Maggie Stanley in the crosshairs in March when she began offering a one-bedroom apartment as a short-term Airbnb rental, taking it off Portland’s long-term rental market. It was a bad look for the Planning Board chair, and she quickly removed the Airbnb listing and reapplied to rent the apartment long term.
In an unusual divergence from otherwise positive state numbers, Greater Portland saw occupancy rates fall 4 percent in May compared with the previous year because of an oversupply of rentals. The number of properties available to rent rose 21 percent to 1,255. The rentals still fetched more money, with the average revenue per available night rising 4 percent to more than $221. In Portland alone, 890 properties were available, 795 of which were entire houses. Some 32 percent of the rentals were available for less than 90 days over the past 12 months.
Sadie Gildea, co-owner of the Black Elephant Hostel in Portland, said business is as strong now as last year. The hostel, which is just outside the Old Port, has 15 Airbnb rentals at what she said are among the lowest prices in Portland.
AirDNA data show available rentals and revenue are higher in other parts of Maine. Down East and near Acadia National Park saw properties available to rent increase 15 percent to 3,029 units — the largest increase in the state — and a 14 percent rise in the average revenue per available rental night to more than $226 compared with May 2022.
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Maine’s southern coast saw a 14 percent rise in properties available to rent to 5,644 units. The average revenue per available rental night rose 16 percent to roughly $241 over the last year.
The properties available to rent overall in Maine were up 18 percent to 15,782 in May compared with last year. Occupancy was up 1 percent. Nights booked in Maine Airbnbs increased 24 percent in May compared with the previous year.
Ackley, a former state representative, said Maine is strong overall because of its Vacationland brand. He rents out six properties on a private island on Annabessacook Lake in Monmouth ranging from about $100 to $350. They include a cabin on a barge tied to the island and a treehouse.
“When it gets really hot in Boston, the first place people think of going is to Maine,” Ackley said.