The Masters Can Be Lucrative for Local Homeowners

As with many things in the world today, much of The Masters can be broken down into financial increments. As USA Today reports, the winner will take home $4.2 million, with a total of $21 million in prize money being paid out. Pimento cheese sandwiches at the tournament sell for $1.50. And The Masters-related tourism has had a beneficial effect on the local economy.

That doesn’t only apply to hotels, restaurants and shops in and around Augusta. Not surprisingly, some area homeowners have taken to renting their residences out to golf aficionados — and at least one family has seen a lucrative payout. Business Insider‘s Dan Latu recounted the story of one family who can literally pay their annual mortgage from what they make renting out their home for one week each year.

For the last seven years, Latu reports, photographer Whitney Boykin and her family of four have rented out their house for the week of The Masters and temporarily relocated to a trailer. However much they make from the rental — Boykin did not share this information with Business Insider — it’s enough to cover the family’s mortgage. Given that their home has five bedrooms and five full or half bathrooms, it isn’t hard to see why it might be appealing to deep-pocketed golf enthusiasts making their way to Georgia.

The Rich, Creamy, Piquant History of the Masters’ Pimento Cheese Sandwich

The $1.50 snack is just as much of an institution at Augusta as Amen Corner or the green jacket

Boykin’s family are far from the only locals to look into renting out their home for the tournament. Latu found listings on Airbnb charging up to $28,000 for a week-long rental. That this is the case isn’t necessarily shocking; a similar practice took place in Paris last year for the Olympics, though some homeowners ended up charging less for their residences than they’d hoped. And presumably, we’ll see something similar happening all over North America next summer for the World Cup.