State College, Pennsylvania Short-Term Rental Market
State College, PA STRs averaged $287/night at 42.1% occupancy in June 2026, with football-season demand pushing luxury-tier rates to $1,385/night.
Quick Answer: State College, Pennsylvania is an active short-term rental market. average occupancy is 42%. average monthly revenue is $3,386. average daily rate is $287. the top operator is Seven Mountains with 20 listings. market score is 67/100 (grade C).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
State College’s short-term rental market, centered on Penn State University’s Happy Valley campus, comprises roughly 1,733 active listings: 1,223 Airbnb-only, 84 Vrbo-only, and 426 listed on both platforms. In June 2026, an off-season month with no home football, the average daily rate was $286.88 with 42.1% occupancy, down 2.82 percentage points year over year. ADR rose 4.50% year over year even as revenue fell 7.05%, evidence of a market where occupancy losses outweighed rate gains. Listing type mix is heavily entire-place: 1,535 entire-place listings versus 197 private-room and 1 shared-room listing. Bedroom mix centers on 3-bedroom (495 listings) and 1-bedroom (484 listings) units, with 2-bedroom (323), 4-bedroom (295), and 5-plus bedroom (135) rounding out the mix. Property type differences are modest: houses average $3,775/month, entire-place listings average $3,616/month, and apartments average $2,347/month, roughly a 61% gap between houses and apartments. Market-score data shows an unusually high seasonality score of 80.7 out of 100, reflecting the event-driven nature of demand tied to Penn State football Saturdays at 106,570-seat Beaver Stadium and graduation weekends, alongside comparatively modest rental-demand (55.3) and regulation (63.7) scores. A 2024 Longwoods International study counted 5.1 million person-trips to the Centre County region, with day-trippers making up 67% (3.3 million) and overnight visitors 1.8 million.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 36% | $277 | $2,856 |
| Feb | 46% | $254 | $2,748 |
| Mar | 48% | $235 | $2,772 |
| Apr | 46% | $271 | $3,006 |
| May | 38% | $306 | $2,803 |
| Jun | 48% | $231 | $2,934 |
| Jul | 54% | $216 | $2,899 |
| Aug | 59% | $236 | $3,221 |
| Sep | 47% | $370 | $3,759 |
| Oct | 42% | $392 | $4,231 |
| Nov | 40% | $404 | $4,174 |
| Dec | 37% | $316 | $3,706 |
Top Short-Term Rental Operators in State College
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Seven Mountains | 20 | 324 | ★ 4.75 |
| 2 | The Bellefonte Campground | 16 | 573 | ★ 4.92 |
| 3 | Evolve | 15 | 287 | ★ 4.74 |
| 4 | Gameday Housing | 14 | 111 | ★ 4.95 |
| 5 | BNB Breeze | 4 | 309 | ★ 4.88 |
What Kind of STR Should I Buy in State College?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 484 |
| 2 bed | 323 |
| 3 bed | 495 |
| 4 bed | 295 |
| 5 bed | 135 |
ADR by Property Tier
| Entire Home | $304 |
| Luxury | $1,385 |
| Professionally Managed | $145 |
Revenue by Dwelling Type
| Apartment | $2,347 |
| Entire Place | $3,616 |
| House | $3,775 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 70.6% |
| vrbo | 4.8% |
| both | 24.6% |
Investment Analysis
State College’s tiered ADR data reveals an unusual pattern for this dataset: professionally-managed listings average just $144.65/night, about 50% below the market-wide average of $286.88, while the luxury tier averages $1,385.34/night, nearly 4.8 times the market average, almost certainly reflecting a small number of premium listings commanding extreme rates during Penn State football weekends and graduation, rather than a stable year-round luxury segment. Revenue fell 7.05% year over year despite a 4.50% ADR gain, because occupancy dropped 2.82 percentage points, a market where rate increases have not offset softer booking volume. At $3,386/month in average revenue ($40,634 annualized) against a typical home value of $414,074, that computes to a gross STR revenue yield of about 9.8% before expenses, permits, taxes, and management. State College’s median sale price is $415,167 against a $461,133 median list price (a sale-to-list ratio of 0.900), with homes pending in a median of just 6 days, a fast-moving housing market. Investors should note State College’s STR permit structure is highly restrictive: it requires owner-occupancy (the owner or a tenant must live in the unit at least 8 months of the year) and caps rentals at 120 days per year, which rules out a pure investor whole-home STR strategy entirely, a key reason the market’s investability score of 79.5 should be read alongside this owner-occupancy constraint rather than at face value.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
State College’s average booking lead time is 66.8 days, over two months, consistent with travelers planning around Penn State’s published football schedule, graduation dates, and major campus events well in advance. The average length of stay is 3.75 nights, a multi-day trip typical of a football weekend or family campus visit. That lead time gives operators a real window to raise rates as high-demand dates (football Saturdays, graduation) fill in, which likely explains the extreme luxury-tier ADR of $1,385/night, premium listings can command outsized rates once a marquee date’s demand becomes clear. The under-4-night average stay means turnover is relatively frequent, and cleaning and restocking logistics matter most around back-to-back football weekends in the fall.
Short-Term Rental Regulations
State College Borough regulates short-term rentals under Ordinance 2187 (adopted August 2022, amended by 2210, 2211, and 2242) and is one of the stricter markets in this dataset. STRs are permitted only in primary residences where the owner or a tenant resides at least eight months of the year, which effectively blocks pure investor or non-owner-occupied Airbnb operations. Rentals are capped at stays of fewer than 29 consecutive days and no more than 120 total rental days per year. The Short-Term Rental License costs $450 and must be renewed annually; applicants must also hold a Rental Housing Permit from Centre Region Code Administration (CRCA) before applying. Combined hotel occupancy tax is 11% (6% Pennsylvania state hotel tax plus 5% Centre County hotel tax). The Borough launched a new Rentalscape online licensing system requiring all owners, including previously licensed operators, to submit fresh applications. Enforcement is rated strict, and the Borough explicitly frames the rules around preserving residential character and curbing nuisance behavior. (Regulatory data current as of July 13, 2026.)
Market Comparison
State College’s June 2026 occupancy of 42.1% runs well below the roughly 55% national STR occupancy benchmark, reflecting its status as an event-driven college-town market rather than a steady leisure destination, while its ADR of $286.88 sits above the roughly $220 national median ADR benchmark, pulled up by extreme football-weekend and graduation-weekend pricing. Among property managers active in the market, Seven Mountains leads with 20 listings and 324 reviews (4.75 average rating), followed by The Bellefonte Campground (16 listings, 573 reviews, 4.92 rating) and Evolve (15 listings, 287 reviews, 4.74 rating). Combined, the top three managers operate just 51 listings, roughly 2.9% of the market’s 1,733 total active listings, an unusually unconsolidated operator base, consistent with a market of individual owner-occupants renting out primary residences rather than professional STR portfolios.
Frequently Asked Questions About State College, Pennsylvania
What is the average Airbnb occupancy rate in State College, PA?
How much does a State College Airbnb earn per month?
Why is the luxury-tier ADR so high in State College?
Can investors buy a home in State College purely for Airbnb income?
What does a State College STR permit cost?
When is the best time to book or list a State College Airbnb?
Who are the largest STR property managers in State College, PA?
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