Comp Set (Competitive Set)
A comp set (competitive set) is a curated group of comparable short-term rental properties used to benchmark your listing's performance against direct competitors. Selected by matching location, property type, bedroom count, amenities, and target guest profile, a comp set converts raw market data into actionable pricing and revenue intelligence — replacing guesswork with a defined peer group.
Key Takeaways
- A comp set typically includes 5–15 properties matched on type, size, location, and amenity tier
- Benchmarking against your comp set reveals whether your ADR and occupancy rate are competitive or drifting from the market
- Comp sets should be reviewed at least quarterly as supply shifts, new listings enter, and competing properties renovate
- Selecting properties within the same submarket — not just the same city — produces the most actionable comparisons
- A well-defined comp set is the prerequisite for data-driven dynamic pricing, revenue forecasting, and investment underwriting
How to Build a Comp Set
Building an accurate comp set requires matching on every dimension that drives guest booking decisions. A mismatch on even one axis — a pool listing versus a non-pool listing, a downtown versus a beach-adjacent location — can make your benchmarks misleading.
| Criteria | What to Match | Why It Matters |
|---|---|---|
| Location | Same neighborhood or within a 1-mile radius | Demand and seasonality vary block by block in most markets |
| Property type | Same type (entire home, private room, cabin, etc.) | Different types attract structurally different guests and rates |
| Bedrooms/capacity | Within 1 bedroom of your listing | Group size is the primary driver of per-night willingness to pay |
| Amenities | Similar tier (pool, hot tub, EV charging, parking) | Premium amenities justify and sustain higher rates |
| Quality/finish | Comparable design quality and review score band | Listing presentation and guest ratings influence conversion rates |
Step-by-step process:
- Start with 20–30 listings matching your property type and general location
- Filter to those within one bedroom count of your listing
- Narrow to listings with a comparable amenity tier — do not mix pool and non-pool properties unless your market has very few listings
- Remove statistical outliers: brand-new listings with fewer than 5 reviews, luxury estates if your property is mid-range, and properties with minimum stays that structurally eliminate the same guests you target
- Finalize 5–15 truly comparable properties and record their listing IDs for ongoing tracking
What a Comp Set Tells You
A comp set is only as useful as the questions you ask of it. The most common analyses:
Pricing Position
Performance Diagnosis
Investment Underwriting
When evaluating a potential acquisition, a comp set of nearby active listings provides realistic revenue estimates grounded in actual market performance rather than platform averages or pro-forma projections. AirROI data shows ADR differences of $100–$200 per night are common between superficially similar markets: San Diego's median ADR of $394.90 versus Denver's $221.50, for instance, reflect structural differences in guest profiles and demand that only comp-level analysis surfaces.
A comp set does not tell you what your listing will earn. It tells you what a well-operated comparable listing does earn — and how far you are from that ceiling.
Comp Set Analysis Metrics
Track these metrics against your comp set to stay competitive:
| Metric | What to Compare | Action if Underperforming |
|---|---|---|
| ADR | Your rate vs. comp set median | Adjust base pricing or minimum stay requirements |
| Occupancy rate | Your bookings vs. comp set average | Improve listing quality, lower minimum nights, or cut rate floor |
| RevPAR | Combined rate × occupancy vs. comp set | Rebalance price versus volume; RevPAR is the single best ranking metric |
| Review score | Your rating vs. comp set average | Address recurring guest experience gaps before they compound |
| Booking pace | How fast you fill calendar vs. competitors | Adjust lead-time pricing; open more availability windows |
Market Size and Comp Set Precision
The density of your market shapes how precise your comp set can be. In high-supply markets — Los Angeles with 10,134 active listings or Nashville with 6,165 — you can match within half a mile, same bedroom count, and a narrow amenity tier and still reach 20+ qualifying properties to filter down from. In lower-supply markets like Gatlinburg (3,622 active listings across a broad mountain resort area), you may need to widen your geographic radius or loosen amenity filters to build a sample large enough to be statistically meaningful.
The rule: a sample of fewer than 5 properties is too small to use for pricing decisions. If widening your criteria is the only way to reach 5 properties, note the compromise explicitly when interpreting the data.
Keeping Your Comp Set Current
Comp sets decay. New listings appear, properties burn out and deactivate, and competing hosts upgrade their amenities or photography — all of which change who is truly comparable to you. A quarterly review is the minimum cadence for active operators. Specifically:
- After major local events (a large hotel opening, a new STR permit cap): check whether competing supply has shifted
- At seasonal transitions: your summer comp set may differ from your winter one if your market has strong seasonal demand patterns — see the events and seasonality analysis for how demand shifts reshape competitive dynamics
- After a significant drop in occupancy or booking pace: rule out comp set drift before assuming a listing-level problem
Frequently Asked Questions
A well-constructed comp set includes 5 to 15 properties. Fewer than 5 rarely provides statistically meaningful benchmarks, while more than 15 dilutes comparisons by pulling in properties that are not truly comparable — different bedroom counts, amenity tiers, or guest demographics will skew every metric you track.
Search your market on Airbnb using filters matching your property type, bedroom count, and amenities, then identify listings within roughly a one-mile radius targeting the same guest demographic. AirROI's Market Atlas automates the process by surfacing comparable listings in your exact submarket and tracking their ADR, occupancy, and RevPAR over time.
Review your comp set at least quarterly. Properties enter and exit the market continuously, renovation upgrades at competing listings can shift quality tiers, and seasonal supply changes can make previously comparable listings less relevant. AirROI data across major markets shows active listing counts fluctuate by 10–30% year-over-year in active markets.
Track ADR, occupancy rate, RevPAR, booking pace, and review scores. RevPAR is the most useful single number because it captures both rate and volume simultaneously. If your RevPAR trails your comp set median by more than 10–15%, you have either a pricing problem, an occupancy problem, or both — and the individual metrics tell you which.
Significantly. In dense urban markets like Los Angeles (10,134 active listings) or Nashville (6,165 active listings), you can be very precise — matching within half a mile, same bedroom count, similar amenity tier. In smaller markets with only a few hundred listings, you may need to widen your radius or loosen amenity filters to reach a meaningful sample size of 5–15 properties.