Renting to traveling nurses has become a lucrative niche in the short-term rental market, providing landlords with a steady income and far less turnover than traditional leases. But how much could you realistically earn? We will look at the financial opportunity and ways to optimize your returns.
Average Earnings: Location and Property Type Matter
Traveling nurses typically seek fully furnished housing near hospitals for 8–13 weeks assignments. Monthly rental income varies widely:
- Urban areas (e.g., San Francisco, New York): $2,000–$4,500/month.
- Suburban or smaller cities: $1,500–$3,000/month.
- Annual earnings: Property owners report $5,000–$25,000/year, depending on occupancy rates and regional demand.
High-demand healthcare hubs like Houston or Chicago often justify premium pricing, while rural areas may require competitive rates to attract tenants.
3 Key Factors That Boost Your Income
- Amenities That Justify Higher Rent
Travelers value the convenience and flexibility of placement. Units with fully furnished interiors, utilities including high-speed Wi-Fi, and in-unit laundry get 20–30% higher rates. Proximity to hospitals (under 30 minutes) is a big selling point, considering nurses commonly work 12-hour shifts. - Flexible Lease Structures
Month-to-month or short-term leases are in line with nurses’ temporary contracts. Platforms like Furnished Finder make comparing prices easy, keeping your rates competitive. - Reduced Vacancy Risks
Partner with staffing agencies or post on nurse-specific sites (e.g., Travel Nurse Housing), offering a steady tenant flow. > Some landlords get 90%+ occupancy by offering tenants discounts for renewal of long-term stays.
Maximizing Profits: Hidden Opportunities
- Tax Deductions: Expenses like furniture, utilities, and property management fees are often deductible. Consult a tax professional to optimize savings .
- Upscale Add-Ons: Charge extra for premium cable, pet-friendly spaces, or garage parking. A Midwest landlord increased monthly revenue by $300 by including a dedicated workspace.
- Scalability: Investors with multiple units report 15–25% higher returns by standardizing amenities across properties, reducing maintenance costs.
Case Study: From $1,800 to $3,200/Month
An Atlanta landlord renovated a 2-bedroom apartment near Emory Hospital, adding ergonomic furniture, blackout curtains, and a monthly cleaning service. They marketed explicitly to nurses, increased rent (from $1,800 to $3,200/month), and secured year-round bookings.
You can follow many more rules and regulations when Renting to traveling nurses if you want;
1. Navigating Legal and Insurance Requirements
While most guides mention “local regulations,” few dive into specifics:
- Short-Term Rental Licenses: Many cities require permits for rentals under 6 months (e.g., Denver charges $150/year). Factor these costs into pricing.
- Liability Insurance: Standard landlord policies often exclude short-term tenants. Upgrade to commercial liability coverage (avg. $1,200/year) to protect against injury claims.
- Tax Nuances: Some states tax furnished rentals as “lodging” (e.g., Texas imposes a 6% hotel tax). Use tools like Avalara to automate compliance.
2. Building Partnerships with Healthcare Institutions
Direct collaborations with hospitals can secure year-round bookings:
- Staffing Agency Tie-Ups: Agencies like Aya Healthcare pre-pay for blocks of units. Negotiate bulk rates (10–15% discount for guaranteed occupancy).
- Hospital Subsidy Programs: Facilities like Mayo Clinic offer nurses $1,500/month housing stipends. Price your rent just below this threshold to attract tenants.
- On-Call Housing: Reserve 1–2 units for last-minute placements, charging a 20% premium for 24hr move-in readiness.
Case Study: A Phoenix landlord reduced vacancies by 40% after partnering with a local clinic to house rotating ICU staff.
3. Leveraging Technology for Enhanced Appeal
Modernize your property with nurse-specific tech:
- Smart Home Bundles: Install keyless entry (August Wi-Fi Locks) and noise-monitoring devices (Minut) to reduce management hassles.
- Telehealth Stations: Add a desk with ring lighting, a USB-C monitor, and HIPAA-compliant Wi-Fi for nurses taking online certifications.
- App-Based Amenities: Use Bixby (for laundry alerts) or Fetch (package management) to streamline tenant communication.
Pro Tip: Tech upgrades can justify a 10–15% rent increase while reducing operational costs by 30% ().
4. Sustainable and Wellness-Focused Rentals
Tap into nurses’ growing eco-consciousness:
- Green Certifications: Pursue ENERGY STAR ratings ($300–$600) to market “healthy living spaces” and charge 8–12% more.
- Wellness Add-ons: Offer monthly subscriptions for organic cleaning services or air purifiers (e.g., Molekule) at $50–$75/month.
- Outdoor Sanctuaries: Convert unused yard space into meditation gardens or herb planters—a significant draw for nurses managing stress.
Data Point: 68% of travel nurses prioritize rentals with wellness features, per a 2024 Healthcare Worker Housing Report.
5. Financial Strategies for Long-Term Growth
Move beyond basic “rent vs. mortgage” math with advanced tactics:
- Rent-to-Income Ratio: Price rent at ≤25% of average nurse salaries in your area (e.g., $3,500/month in Los Angeles, where RNs earn $120k/year).
- Portfolio Diversification: Use revenue from nurse rentals to fund renovations on long-term units, creating a balanced income stream.
- Refinancing Opportunities: After 12 months of stable nurse rental income, lenders like New Silver may offer cash-out refinancing at 75% LTV.
Example: A Dallas investor used nurse rental profits to acquire a 4-plex, achieving a 14% annual ROI through mixed-use occupancy.
Bonus: Interactive Tools and Resources
- Rent Calculator: Embed a tool (e.g., from Azibo) letting landlords input location/amenities to estimate earnings.
- Checklist Template: A downloadable “Nurse-Ready Property Checklist” covering must-haves (blackout curtains, parking passes, etc.).
- Case Study Library: Curate 3–5 niche success stories (e.g., “How I Tripled Cash Flow in 6 Months”) to inspire action.
Conclusion: Is It Worth It?
Renting to traveling nurses presents a very different opportunity combining stability and profitability — especially in areas with a high concentration of healthcare facilities. You can charge 2–3x more for traditional long-term rentals by meeting the needs of such travelers —“move-in ready” comfort and hospital access. Research local demand and make strategic upgrades to take a nibble out of the 4.5 billion dollar market.
Note: Always verify local regulations and zoning laws for short-term rentals. Partnering with a property management firm specializing in medical staff housing can streamline operations
