RV rentals are the vacation travel bargain for 2023 according to recent data
LIVINGSTON, Texas, May 2, 2023 /PRNewswire-PRWeb/ -- Go RV Rentals released its 2023 RV Rental Price Index today. The Index tracks daily rental rates for various types of motorhomes and travel trailers across the USA. The data show that the cost to rent an RV remains unchanged from one year ago. The base cost to rent an RV is currently $184 per night, the same rate as last year. Note this key data point represents the average base price of all RV types across 20 sampled metro locations. Furthermore, $184 excludes miscellaneous charges such as insurance, service charges, optional equipment, and sales tax, all of which together may add 50% or more to a bottom-line trip cost.
RV rental prices range from an average daily rate of $89 for a pop-up camper to $307 for a Class A motorhome. The mid-priced travel trailer and Class C motorhome average $117 and $217, respectively. Furthermore, within the sample the lowest daily rate observed was $30 for a pop-up camper and the highest daily rate observed was $875 for a Class A motorhome.
According to Go RV Rentals Founder David Kosofsky, "While overall inflation is currently 5% according to the Bureau of Labor Statistics (BLS), prices in the travel space have surged well beyond that rate. According to NerdWallet's recent Travel Inflation Report, year-over-year prices through March 2023 increased as follows: air travel +17.7%, car rental +8.9%, lodging +8.1% and food away from home +8.8%. On a more positive note, BLS reported gasoline prices have plunged 17.4% year-over-year. With a 0% inflation rate combined with lower gas prices, RV rentals are indeed the vacation travel bargain for 2023".
Mr. Kosofsky goes on to say, "renting an RV is relatively cheap compared to the cost of owning one. Most RV owners only use their RV about 20 days per year, according to the RV Industry Association, so the vehicle sits idle 345 days. All the while, the owner is making a monthly note payment and/or suffering depreciation on top of the cost of storage, insurance, property taxes, maintenance, and repairs."
A 2020 study by Go RV Rentals revealed that a typical $80,000 Class C motorhome's cost for those actual 20 days of usage is $911 per day when you factor in the total cost of ownership. Now compare that to an average base rate of $217 per day for renting a Class C, and it is easy to see why RV rentals are the vacation travel bargain for 2023.
Furthermore, the beauty of renting an RV is that when you are done with your trip, you can just return the keys to the owner and you do not have to deal with all those on-going expensive ownership costs. This is why a growing number of people who want to go RVing rent one versus buying it. This is also why a lot of RV owners are renting out their RVs, that is to defray ownership expenses.
The 2023 RV Rental Price Index, includes drivable RVs, also known as motorhomes: Class A, Class B, and Class C; and, towable RVs: travel trailer, pop-up, and toy hauler in the survey. Furthermore, the Index includes 20 major U. S. metropolitan markets. Included metros are: Atlanta, Austin, Charlotte, Chicago, Dallas, Denver, Detroit, Houston, Los Angeles, Miami, Minneapolis, Orlando, Philadelphia, Phoenix, Portland, Salt Lake City, San Diego, San Francisco, Seattle, and Tampa.
Anyone interested in reading more about the Go RV Rentals 2023 RV Rental Price Index is referred to Everything To Know About RV Rental Prices on the company's website, where updated RV rental prices are published on a current basis.
About Go RV Rentals
Go RV Rentals is the leading website for the RV rental lifestyle, industry sector trends, how-to guides, and featured camping destinations. Site visitors can quickly find an RV rental in one search. They can also plan their road trip using the many free resources on the website.
Media Contact
David Kosofsky, Go RV Rentals, 1 800-419-1516, [email protected]
SOURCE Go RV Rentals
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