A majority of homeowners think about renting out a portion of their home for a rental on a temporary basis, according to a new survey by realtor.com(r) as well as Censuswide, a research and consulting firm. However, the income potential from renting is a factor when homeowners decide whether to pursue this option.

The announcement was made last week of a new tool for estimating to assist homeowners in gauging the potential earnings they could earn if they decide to sell their house as a rental for a short period. It is accessible on”My Home” on the “My Home” dashboard(link is external) on realtor.com(r) and is based on a 7-day rental estimate that is based on Airbnb information from similar listings within the zip code. The actual earnings will depend on the local laws and regulations, availability, prices, and the demand for rentals within the region. Homeowners could gather estimates of earnings when hosting events in a single room or even their entire home.

“Short-term rentals are a great way to help with some of the costs of homeownership,” says Mausam Bhatt, chief product officer for realtor.com(r). “Renting out their house for a couple days or weeks out of the year when it’s not in use could generate extra income that can be put toward the mortgage, maintenance or even help cover the cost of a vacation.”

Three-fourths of homeowners surveyed through realtor.com(r) or Censuswide are considering renting their house to help save to finance a new home, and 21% of them say they’d use the extra cash to pay for their mortgage.

Best Places to Host a Short-Term Rental

This time last year, AirDNA, a rental data analytics company, announced its list of the best locations to invest in short-term rental. The website analyzed the property-level performance data from Airbnb as well as VRBO properties, taking in demand for rentals and growth in revenue and the regulations for short-term rentals along with “investability,” which refers to the expected income of a property in relation to the cost of purchasing it. The following cities are the rental markets that have short-term leases which topped AirDNA’s list of the best for 2023:

• Fairbanks, Alaska

The average daily rate is $198.

Average annual income of $49,000

Occupancy: 65%

• Evansville, Ind.

Average daily rate $129

Yearly revenue of $27,000.

Occupancy: 61%

• Rockford, Ill.

Daily rate of $175.

Average annual income: $39,000

Occupancy: 61%

• Springfield, Ill.

The average daily rate is $133.

Average yearly income: $29,000

Occupancy: 62%

• Burdett, N.Y.

The average daily rate is $345.

Average yearly income $77,000

Occupancy: 56%

• Williamstown, Ky.

Daily average $238

Average annual income is $56,000.

Occupancy: 69%

• New Haven, Conn.

The average daily rate is $207

Average yearly income of $48,000

Occupancy: 63%

• Ellsworth, Maine

Daily rate of $290.

Annual average income of $67,000

Occupancy: 73%

• Cheboygan, Mich.

Average daily rate of $304

Average yearly income of $69,000

Occupancy: 60%

• North Woodstock, N.H.

Daily rate of $293.

Average yearly income $63000

Occupancy: 53%

Pickleball is another player in the market, which recently opened its first facility with 24 courts at Arizona Mills Mall in Tempe, Ariz., at Arizona Mills Mall. It is located in a 104,000-square-foot area of retail that is an anchor. The company is planning to expand in the coming two years by opening stores in Minneapolis, Chicago, Dallas, and Oklahoma City, among other locations. Billionaire financier Steve Kuhn, a Major League Pickleball founder, supports pickleball.

“Pickleball is truly the ‘Benjamin Button’ of sports,” Kuhn declared in an announcement about the brand new Arizona facility. “Every year, the demographics for the sport get younger and younger. Pickleball has the opportunity to cross the barriers that divide us–age, race, class–to foster togetherness and spread joy to the communities. That starts with getting creative about location. The future of pickleball is indoors.”