Rent Your Vacation Home or Condo in Philadelphia, Pennsylvania

Short-term rental (STR) season is in full swing, and we’re seeing positive year-over-year growth. There are some common trends that travelers are noticing when they book a STR: There’s a growing number of Airbnb hosts in the city who are welcoming visitors to stay in their homes. This means that you have an excellent opportunity to earn extra income if you have a spare room to rent out for the summer or fall. The number of visitors coming to Philadelphia continues to grow. People can choose from many different types of accommodations for their vacation. They want to be able to choose from a wide range of options. This includes neighborhoods and price ranges.

When partnering with RedAwning for your property management needs, we can make sure your Philadelphia rental is set up correctly and ready to generate the most amount of revenue possible per stay.

Current Vacation Rental Trends in Philadelphia

During the month of September, Philadelphia and areas including Center City, South Philadelphia, University City, North Central, Rittenhouse Square, Point Breeze, Washington Square West, Poplar, Southwest Center City, Stanton, Old City, Logan Square, Germantown, Spring Garden, Pennsport, Wynnefield, Kensington, Francisville, Hartranft, Fishtown, Gayborhood, Brewerytown, Strawberry Mansion, Wharton, Olde Kensington, Franklintown, Gray's Ferry, Callowhill, Chinatown, Northern Liberties, Mantua, Cobbs Creek, Olney, South Philadelphia West, Passyunk Square, Bella Vista, Tioga, Market East, and Fairmount are projected to generate over $166/night for a 2 bedroom vacation rental, on average! There were 5,692 vacation active rental properties in Philadelphia.  4,129 are renting the entire place, and 1,563 are shared rooms.  On average, during the month of September 2022, each vacation rental property in Philadelphia is booked 68% of the time, and most hosts are projected to generate $2,524 or more during the month of September! See how much you could earn with our free vacation rental income calculator.
tag

$166.00 Per Night*

calendar

68% Occupied*

gauge

$2,524.00 Per Month*

* Based on the median average of all vacation rentals in the Philadelphia area.
Get a free estimate for your home or condo.

Featured Philadelphia Vacation Rental Generating Record Profits With RedAwning

Philly 2BR Fully Furnished Apartment Starting at $209 to $369 per night!

A fantastic fully furnished apartment in the Center City West neighborhood in Philadelphia. In great location - easy transportation access and walking distance from many dining venues, high-end stores, nightlife hot spot, and more. Enjoy the convenience of an on-site fitness center and a Wi-Fi cafe, with an access to a vibrant central courtyard and a panoramic view from Sky terrace with BBQ area. Pet friendly - offers a dog wash facility for pampering pooches.

You are free to use the... Read More

This Philadelphia vacation home is presented on every travel website, where travelers are looking to book accommodations (Airbnb, VRBO, Expedia, Google Travel, and hundreds more). And, with RedAwning's dynamic pricing, daily rates are adjusted based on seasonality and demand in Philadelphia.

Successful short-term vacation rentals in Philadelphia, Pennsylvania

Positive vacation rental trends in Philadelphia include: In 2016, short-term rentals of homes in Philadelphia made up less than 1 percent of the total number of overnight stays in the city. Today, that number is more like 4 percent. Moreover, short-term rentals make up a significant portion of this growth. The rise of short-term rentals has been driven by several factors, including increased demand for affordable housing; the fact that Airbnb and other home-sharing platforms offer a convenient alternative to traditional hotels; and the fact that people like to try out new places without committing to long-term leases or big financial commitments. Of course, there are some drawbacks to renting out your home as a short-term rental. One of the most obvious is that you could end up losing money if your guests don't pay you on time or if they damage your property while they're staying there.

When it comes to choosing the right vacation rental for your next time away, there are a few important things to consider. While a short-term rental is a great option if you’re looking to make some extra cash, it’s important to do your research and find an Airbnb property that fits your needs. One of the biggest considerations is location. If you plan on renting out your Philadelphia home as a short-term rental, it’s important to find an area that’s convenient for guests to get around. This can be especially important if you have young children who may be unfamiliar with the area or don’t know how to navigate public transportation. Another thing to keep in mind is what amenities you need in your short-term rental. If you want guests to have access to a kitchen or bathroom, make sure those are included in the property‘s price.

RedAwning takes the guess-work out of Philadelphia property management, and we work with you to ensure your Philadelphia short-term rental is set up perfectly to attract guests and maximize your rental revenue, from day-one.

See how much your Philadelphia vacation rental could earn:

Revenue Projections for Vacation Rentals in Philadelphia, Pennsylvania during October, 2022

Based on a 2 bedroom, which is the most common Philadelphia vacation rental home size, we've come up with an estimated rental amount you could charge per night and how much demand there is for each day in October. Higher bars below can command higher prices, if your Philadelphia vacation rental is available during these days.
 
$21685%1st
 
$17281%2nd
 
$16080%3rd
 
$16179%4th
 
$16279%5th
 
$16980%6th
 
$20981%7th
 
$21782%8th
 
$17780%9th
 
$16379%10th
 
$16379%11th
 
$16580%12th
 
$17481%13th
 
$21782%14th
 
$22982%15th
 
$17681%16th
 
$16179%17th
 
$16179%18th
 
$16279%19th
 
$16879%20th
 
$20780%21st
 
$21880%22nd
 
$17179%23rd
 
$16279%24th
 
$15979%25th
 
$16179%26th
 
$16779%27th
 
$20980%28th
 
$21880%29th
 
$17179%30th
 
$16178%31st
 

Average Daily Price & Percent Occupied Next Month In Philadelphia

Note: These averages are based on a 2 bedroom home in Philadelphia. If you'd like to find out how much revenue your home could make by providing the number of bedrooms and specifics about your vacation rental, please try our  free vacation rental calculator and/or speak with one of our vacation rental experts about your vacation home, condo or unique vacation rental experience.

Interested in learning how you can maximize your vacation rental revenue in Philadelphia, Pennsylvania?

If you are a speculative home buyer or have another home in Pennsylvania, check out our other Pennsylvania Vacation Rental Management reports in GettysburgHarrisburgHersheyPittsburghPocono LakeBlue BellPalmyraLake HarmonyLong PondTobyhanna,  and Norristown, Pennsylvania or view all of our vacation rental market reports

Request More Information