When people used to plan for their vacations, they determined where to go based on a few key factors. One of the biggest factors was how much they had to pay for a hotel room once they arrived at their destination. For some families, that meant skipping the bigger cities because the rooms cost so much.

Hotels charged more to stay competitive, but then Airbnb found its way into the hospitality industry. Now, an increasing number of people prefer to check Airbnb rental options while they compare hotel prices. You might wonder if your property can get in on the rental action, but would you make a profit?

Check out these top U.S. cities that are best for Airbnb rentals. Some are tried-and-true tourist destinations, while others are up-and-coming cities. Take a look at what makes these markets tick and see if these factors apply to your own location — a little research could go a long way in making your property a top rental with Airbnb users.

1. New York City, NY

New York City is one of the biggest tourist locations in the world. People travel in from everywhere to pose by the Statue of Liberty and walk its well-known streets. That's why it's one of the best U.S. cities for people looking to rent their living space on Airbnb. If you live downtown, you can price as high as the hotels around you and knock the price down a bit to become the first choice for the millions of visitors each year.

Of course, investing in New York real estate isn't for everyone. The city features a sky-high cost of living and monumental startup expenses, making it difficult to enter the market. New York is a high-risk, high-reward city for Airbnb owners.

2. Kissimmee, FL

When you think about Disney World, you probably think about people staying in Orlando. Now that everyone has apps like Airbnb on their phones, they're looking to stay just outside of Orlando in Kissimmee. Nearly 8 million people stayed in the city just the other year, yielding $404 million in profits, so Airbnb renters stand to make a huge profit by opening their homes to this audience.

Airbnb owners outside of Florida can learn from this, too. Any city with a major tourist draw, like amusement parks, is probably ripe for real estate investment. Does your local market have a sports presence, park or other destination nearby? 

3. Chicago, IL

Chicago is an ever-growing city, quickly taking its place as one of the most popular destinations in the country. People love to experience the art scene and museums in the downtown area, pnot to mention the shores of Lake Michigan. It's a great place to open up an Airbnb, especially if you have amenities that other downtown rooms don't offer.

Set your place apart by advertising your kitchen, spacy rooms or free parking. Between business travelers, tourists, students and other groups, your rental can easily accommodate a year-round market. Your calendar will fill up in no time.

4. Los Angeles, CA

People are always looking for an affordable place to stay in LA, which is why Airbnbs are so popular there. Although renters won't find their homes empty once they open their doors, the city proposed new restrictive rules recently to control how Airbnb affects its tourist industry.

As long as you rent out of your primary residence, your home is good to go. You may even find a few people willing to rent long term since apartments average $2,500 per month for standard thirteen-month leases.

5. Austin, TX

Also known as one of the biggest cities in Texas for college kids, Austin has become a major influence on tourists. People fly in to watch the cattle runs and explore what the Lone Star State has to offer, and they like to stay in Airbnbs between events. Since the city pulled in 72.5 million visitors this year alone, the state expects tourism to continue growing. Opening up an Airbnb is in the best interest of anyone with space to rent in Austin.

Check With Local Government

Downloading the app and snapping a few quick pictures of your rental space may feel easy, but you shouldn't list your space without checking your local government's rules. Like LA, there might be rules regarding how long someone can rent from you, where you can rent and what properties can flip to rental homes.

Once you know the local laws, have fun decorating your rental space and growing your Airbnb business. It's rewarding to take control of where you live and make extra money, especially when it's all done through an app on your phone.