Philadelphia, Pennsylvania Short-Term Rental Market
Philadelphia STRs averaged $197/night at 62.5% occupancy in June 2026, with revenue up 13.2% year over year.
Quick Answer: Philadelphia, Pennsylvania is an active short-term rental market. average occupancy in the Philadelphia market area is 62%. average monthly revenue in the Philadelphia market area is $3,354. average daily rate in the Philadelphia market area is $197. the top operator in the Philadelphia market area is Luxora with 234 listings. market score is 92/100 (grade A).
Market data reflects the wider Philadelphia market, which covers 13 areas. Regulations, taxes, and permit details below are specific to Philadelphia.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Philadelphia posted a $197.34 average daily rate at 62.5% occupancy for June 2026, the latest tracked month, with average revenue per listing of $3,354. Occupancy fell 5.9% year over year, while ADR rose 7.1% and revenue jumped 13.2%, the strongest revenue growth among the markets processed in this batch. The market’s total score is a very strong 91.84 out of 100, driven by a 95.51 revenue growth score and 94.92 seasonality score, though the 61.24 investability score is more moderate.
Entire-place listings account for 71.6% of the roughly 12,393 tracked units, with private rooms at a notable 28.2% and shared rooms at 0.2%, one of the higher private-room shares in this batch, consistent with a dense urban market. Bedroom mix skews heavily toward one-bedroom units, the largest segment at 56.9% of the 12,373 bedroom-tagged listings, followed by two-bedrooms at 21.8%, three-bedrooms at 12.5%, four-bedrooms at 5.8%, and five-plus-bedrooms at 2.9%. On booking channel, 65.4% of listings are Airbnb-only, 30.1% list on both Airbnb and VRBO, and 4.4% are VRBO-only.
Philadelphia’s population is approximately 1,573,916, and the city drew a record 26.6 million visitors in 2024, who spent $4.5 billion and generated $769 million in hotel revenue. International arrivals topped 1.2 million, led by Canada (535,000), the UK (92,000), and India (62,000). Independence National Historical Park, including the Liberty Bell and Independence Hall, draws 3 to 5 million visitors annually, and the city hosts major conventions through the Pennsylvania Convention Center.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 48% | $104 | $1,523 |
| Feb | 56% | $106 | $1,521 |
| Mar | 59% | $112 | $1,812 |
| Apr | 61% | $121 | $1,967 |
| May | 63% | $136 | $2,274 |
| Jun | 65% | $139 | $2,427 |
| Jul | 65% | $124 | $2,240 |
| Aug | 64% | $124 | $2,212 |
| Sep | 62% | $122 | $2,040 |
| Oct | 62% | $124 | $2,168 |
| Nov | 58% | $125 | $2,005 |
| Dec | 53% | $124 | $1,884 |
Top Short-Term Rental Operators in Philadelphia market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Philadelphia market as a whole, which includes Philadelphia, so these counts are not Philadelphia-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Luxora | 234 | 10,051 | ★ 4.52 |
| 2 | PowerHouse | 191 | 634 | ★ 2.70 |
| 3 | Sosuite | 153 | 10,550 | ★ 4.24 |
| 4 | Dillman LLC | 147 | 960 | ★ 4.15 |
| 5 | Properties By Preston | 120 | 402 | ★ 4.06 |
What Kind of STR Should I Buy in Philadelphia?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 7,046 |
| 2 bed | 2,701 |
| 3 bed | 1,548 |
| 4 bed | 718 |
| 5 bed | 360 |
ADR by Property Tier
| Entire Home | $244 |
| Luxury | $350 |
| Professionally Managed | $228 |
Revenue by Dwelling Type
| Apartment | $3,217 |
| Entire Place | $4,102 |
| House | $3,519 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 65.4% |
| vrbo | 4.4% |
| both | 30.1% |
Investment Analysis
Philadelphia’s typical home value is $233,814, with a median sale price of $236,667 and an 89.4% sale-to-list ratio, and a large for-sale inventory of 5,114 homes with a fast 21-day median time to pending, as of the April 2026 housing snapshot. Using the 2025 full-year average revenue of $2,454 per month, annualized to $29,448, estimated gross rental yield is approximately 12.6% of the typical home value, before licensing, taxes, and operating costs, among the more favorable entry-price-to-revenue ratios in this batch given Philadelphia’s comparatively low home values.
Across ADR tiers, the all-listings average of $197.34 compares to $243.62 for entire-home listings (up 23.5%), $228.28 for professionally managed listings (up 15.7%), and $350.28 for the luxury tier (up 77.5% over the market-wide average). Revenue by property type: entire-place listings averaged $4,102 in June, well above houses at $3,519 (entire-place running 16.6% higher) and apartments at $3,217 (entire-place running 27.5% higher).
Revenue rose 13.2% year over year even as occupancy fell 5.9%, driven entirely by the 7.1% ADR gain, indicating pricing power more than demand growth is behind the market’s recent strength. The 95.51 revenue growth score and 94.92 seasonality score are both exceptionally strong, though the 61.24 investability score is comparatively moderate, and the 66.31 regulation score reflects Philadelphia’s two-track licensing system, one path for primary-residence hosts and a separate, more involved path for non-primary-residence investor operators.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Philadelphia’s average booking window runs 51.6 days of lead time, one of the shorter windows in this batch of markets, with a 4.22-night average length of stay. The comparatively short lead time is consistent with a major metro market drawing both planned leisure trips and shorter-notice convention and business travel through the Pennsylvania Convention Center.
For owners, a 52-day lead time supports a more responsive pricing approach than markets with 80-plus-day windows, since meaningful demand books within roughly seven weeks of arrival. With occupancy staying above 48% even in the slowest month and the narrowest seasonal swing in this batch, 16.7 percentage points from trough to peak, Philadelphia offers one of the most stable, predictable booking calendars among the markets processed, useful for owners prioritizing consistent cash flow over chasing a narrow peak season. The 4.22-night average stay also supports 3 to 4-night minimum-stay policies across most of the calendar without meaningfully restricting demand.
Short-Term Rental Regulations
Short-term rentals are legal in Philadelphia but require layered licensing on two tracks. Every operator needs a Commercial Activity License plus a Zoning Permit. If the unit is the operator’s primary residence and rented for stays of 30 consecutive days or less, a Limited Lodging Operator License is required, $150, renewed annually; the operator must live in the unit more than half the year and cannot rent the whole home in their absence for more than 180 days a year, with occupancy capped at three unrelated persons and guests permitted only 8 a.m. to midnight. Non-primary-residence rentals fall under ‘visitor accommodation use’ and require a Rental License with a hotel designation plus the corresponding zoning permit.
Additional requirements include smoke and CO alarms, lead-safety certification, being current on all city taxes with no outstanding L&I violations, a virtual inspection, and one-year recordkeeping. In the 10th Council District, only property owners may operate an STR. Operators must pay the City Hotel Tax of 8.5% monthly, on top of Pennsylvania’s 7% state occupancy tax, for a combined 15.5%.
Enforcement is rated moderate; a 2025 City Controller review found widespread non-compliance, with many bookings tied to inactive, expired, or ineligible licenses. In May-June 2026, Mayor Parker proposed raising the city STR tax from 8.5% to 14.5%, which would have pushed the combined rate to roughly 21.5%, but City Council rejected the increase for the FY27 budget, so the rate remains 8.5% as of mid-2026.
Market Comparison
Philadelphia’s 62.5% June occupancy runs above the roughly 55% national median for short-term rentals, while its $197.34 ADR sits below the roughly $220 national median ADR, reflecting a large, competitive urban market with substantial supply. The entire-home tier ($243.62 ADR) and luxury tier ($350.28 ADR) both exceed the national ADR median, showing higher-end Philadelphia listings can still command competitive rates.
Top property managers in the market include Luxora (234 listings, 10,051 reviews, 4.52 average rating), PowerHouse (191 listings, 634 reviews, 2.70 average rating, notably lower than other top operators in this batch), and Sosuite (153 listings, 10,550 reviews, 4.24 rating). Combined, these top three managers operate 578 listings, about 4.7% of the roughly 12,393 tracked units, a highly fragmented market. Dillman LLC (147 listings, 960 reviews) and Properties By Preston (120 listings, 402 reviews) round out the top five. With no single operator holding more than 234 listings out of roughly 12,393 total, Philadelphia is among the most fragmented markets in this batch, offering fewer large-scale competitive barriers for new professional managers entering the market.
Frequently Asked Questions About Philadelphia, Pennsylvania
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