Tonight’s Miami community party will be a celebration of the five-star hosts still bringing the heat in what has become one of our most dynamic markets. The number of trips booked in our Miami market has more than doubled for the last three years in a row. As chronicled in last year’s market guide, this hat trick growth landed Magic City among Turo’s largest markets for the very first time. Now a matured Turo market in its prime, local hosts are earning more than ever before, with the average host consistently bringing in more than $1,000 every month.
What Miami area guests want hasn’t changed too much from last year, but their tastes have become more apparent. More searches this year filtered for a particular type of car with attractive conveniences than in past years when price point was the most popular filter. Unsurprisingly, upscale cars like BMW and Mercedes-Benz are particularly sought-after, but this year the demand for more practical luxuries has emerged.
Given the market’s strong share of out-of-town guests, conveniences like delivery (now requested in 23% of all searches) make navigating a foreign city much easier. In fact, listings in the Miami market that offer delivery, instant book, and unlimited mileage together appear in just as many (if not more) searches filtered for those optional services as searches filtered for specific vehicle classes or types. So, offering more convenience services unlocks great potential for hosts to earn more.
The large amount of international visitors booking cars in Miami has translated into overwhelmingly strong performance for iconic American cars like the Mustang and Wrangler, which fit these travelers’ notions of quintessential American adventure. Locals, however, still make up the largest share of guests in Miami. In a market that is already saturated with Mustangs and Wranglers, demand for vehicles from the most searched-for makes remains relatively untapped.
The latter half of South Florida’s peak season will typically be local hosts’ most lucrative months. However, with a stronger share of local bookings this past year, even off-peak months like July were strong. While local guests might have driven the average trip length down from previous years, most trips are booked on weekends when demand is particularly high. This makes for average trip prices that are higher than Miami has ever seen — higher than you’ll find in most markets.