How much do people rent their houses out for during the Masters?

Every April, Augusta, Georgia, goes from a sleepy Southern town to a high-stakes rental market as the Masters Tournament brings thousands of visitors. With few hotel options, private homeowners are profiting, listing their residences for eye-popping amounts. Rental rates for Masters Week are in the thousands for a simple condo, to hundreds of thousands for luxury properties that host A-list guests.

According to Masters Housing Bureau & Tournament Housing Trends, the single largest factor in rental price has been proximity to the Augusta National Golf Club. Properties within walking distance — or a short drive — command the highest fees, as corporate executives, professional golfers, and affluent fans prioritize convenience. However, houses with luxury amenities or en-suite bathrooms command even higher rates.

• Smaller condos rent for a few thousand dollars [As per the Masters Housing Bureau Price Breakdown]
• Mid-sized homes (3-4 bedrooms) typically range from $5,000 to $15,000 [According to the Tournament Housing & Events VP Stacey Hayden].
• Large, luxury homes command $20,000 to $70,000+, particularly when rented by corporations for hospitality purposes [According to the Corporate Housing Rentals and Luxury Home Trends].

Amenities also drive pricing. Properties with swim-up bars, outdoor kitchens, game rooms, and large spaces for entertaining attract corporate tenants and can cost over $25,000 for a week (According to the Masters Housing Bureau & Luxury Rental Trends in Augusta). Some even larger estates, also used for corporate events, can collect upwards of $150,000 in rental fees. (As per the High-End Corporate Rentals & Masters Week Housing Reports).

Syndication: Statesman Journal - Source: Imagn

A special tax incentive only adds to the pressure driving rental rates skyward. The “Augusta Rule” (IRS Section 280A of the Tax Code) allows homeowners to rent out their homes tax-free for up to 14 days. This loophole has drawn many Augusta residents into the Masters rental market, using their earnings for home renovations or mortgage payments.

With far greater demand than supply, Augusta’s rental market continues to be a gold mine for homeowners. Whether for corporate entertainment or lavish overnights, Masters Week presents an annual chance for people to transform a family home into a high-end revenue generator.

The Economic and Social Impact of the Masters on Augusta

According to the Augusta Metro Chamber of Commerce & Augusta Convention and Visitors Bureau, The Masters' Tournament turns Augusta, Georgia into an economic powerhouse each April. The hundreds of thousands of visitors, ranging from golf aficionados to corporate sponsors, pump millions into the local economy. Some homeowners earn enough in one week to pay their mortgage for several months or make home improvements.

Not just homeowners, but local businesses thrive as well. Hotels are at near capacity, restaurants stay open late, and transportation services are in surge. Catering companies, short-term rental sites such as Airbnb and Vrbo, and luxury retailers stand to gain from the affluent crowds that the tournament draws. Augusta National Golf Club, which cares more about exclusivity than revenue, even rakes in millions in merchandising and ticket sales.

However, the Masters Tournament also poses challenges for the residents. The traffic congestion skyrockets, and the residents have very limited affordable housing options. Essential services like law enforcement, emergency response, and waste management are under additional strain from the temporary population explosion. Additionally, tourists can often be disruptive, which has led some cities to adopt local regulations on parking and noise in residential areas.

Despite these challenges, the Masters remains a vital economic engine for Augusta, for job creation and growth of local businesses. While residents navigate the temporary disruptions, the tournament’s lasting financial benefits make it a defining event for the city year after year.