On May 6th, tens of thousands of tourists will descend on Louisville, Kentucky for one of the United States’ longest-standing, and most beloved sporting events. Since 1875, the Kentucky Derby has been America’s most well-known horse race, and is referred to by many as the “most exciting two minutes in sports.”
For residents of Lousiville and the surrounding region, the Kentucky Derby is much more than just a sporting event. The race of all races brings a staggering $217 million dollars in revenue to Louisville and the nearby communities. Homeowners living near Churchill Downs have strong incentive to make their properties available for renters during the week of the “Run for the Roses” as short-term rentals are in high demand.
To illustrate the impact of the race on the short-term vacation rental market in the Louisville and South Louisville area in particular, have a look at some of the Derby Week rates offered by homeowners on VRBO and AirBNB versus their standard nightly rates:
Stately Home 1.2 Miles to Churchill Downs Sleeps 9
Boasting 4 bedrooms and 2.5 bathrooms, this internet-enabled two-level home features a large kitchen and master bedroom suite with a private bathroom featuring a jacuzzi tub and spacious shower. The house suggests that it can sleep nine guests comfortably, and perhaps most importantly, is walking distance from Churchill Downs.
- Derby Week nightly rate: $2,000.00/night
- 3 night minimum
- Standard nightly rate: $1,250.00/night
Source: https://www.vrbo.com/3733405ha
"Rustic Home Near Churchill Downs"
With 3 bedrooms and 1 bathroom, this single-level residence reports that it can sleep 7. Guests at the home during Derby week will also enjoy a complimentary bottle of Woodford Reserve Kentucky bourbon to enjoy according to the listing.
- Derby Week nightly rate: $1,000.00/night
- 3 night minimum
- Standard nightly rate: $300.00/night
Source: https://www.vrbo.com/4201686ha
"Historic Old Louisville"
This 3 bedroom, 1.5 bath Craftsman-style home is located midway between Churchill Downs and downtown and near Germantown and the Highlands restaurants and nightlife. The property features a porch and patio, in addition to a full kitchen, laundry room, and internet.
- Derby Week nightly rate: $2,000.00/night
- 3 night minimum
- Standard nightly rate: $1,500.00/night
Source: https://www.vrbo.com/1010978
"Charming Derby Rental"
Literally across the street from Churchill Downs, this 1 bedroom, 1 bathroom apartment is all about the location. Not a lot of space to spread out in this location which surprisingly states that it can accommodate 4 guests. It’s probably safe to assume this is normally the host’s full-time residence as the only available dates for this property are during Derby Week and then again for several weeks in September and October.
- Derby Week nightly rate: $650.00/night
- 1 night minimum
- Standard nightly rate: $350.00/night
Source: https://www.airbnb.com/rooms/16526404
"Location, Location, Location"
This rental is not a full home, but instead offers 2 bedrooms (sleeps 4) within a home that will be occupied by the owners during the week of the Derby. While providing less privacy, the allure of this property is a distance of just 100 yards from the Gate 10 entrance of Churchill Downs. This rental is presumably a “Derby” week rental only.
- Derby Week nightly rate: $1,200.00/night
- 2 night minimum
- Standard nightly rate: not available.
Source: https://www.airbnb.com/rooms/12170828
Whatever one’s budget or needs, there appear to be a variety of options available within close proximity of Churchill Downs for the Kentucky Derby. While there are no sure things when betting on the Kentucky Derby itself, it’s pretty safe to say that vacation rentals in the surrounding area will be a winner at the very least.
