Last updated on June 22nd, 2023
Are you looking to invest in an Airbnb property in Pennsylvania? If you have chosen Pittsburgh in particular, then you’re on the right track.
In general, Pennsylvania’s tourism industry is known for historical landmarks and beautiful attractions. Philadelphia was also featured in occupancy rates by city with a prospect annual revenue of $31,392 with a steady occupancy rate of 47%. Little did you know that Pittsburgh is also one of the most recommended areas for Airbnb investment!
Continue reading to learn more about Airbnb rules in Pittsburgh and check out the profitability in this city.
Is Airbnb legal in Pittsburgh?
Let’s spill the beans: Yes, Airbnb is certainly legal in Pittsburgh. With more than 12.6 million visitors annually, this city is famous for attractions including the Carnegie Museum of Natural History, Botanical Gardens, Fairmont Pittsburgh, and a lot more.
Here is a little proof! As of July 2022, there are 18,108 nights available in Pittsburgh from Airbnb alone. Frontdesk manages 43 listings, while Carina and Matthew operate 22 and 22 respectively.
How much can I make by running an Airbnb in Pittsburgh?
Currently, there are 1,022 Airbnb listings in Pittsburgh, with 73% of entire houses earning up to $2,619 a month. The Average Occupancy Rate in Pittsburgh is 65% and the average daily rate is $104. According to vacation holiday rentals market data source Airbtics, a 2-bedroom apartment in Pittsburgh can make up to $18,922 each year. Check out our Short-Term Rental Profit Estimator and find out how much you can make in Airbnb!
What Are The Short-term Rental Accommodation Policies in Pittsburgh?
- To date, there are currently no strict short-term rental regulations in Pittsburgh. However, Pittsburgh Council has proposed the following regulations this year which indicated the following:
1. Council legislation would require short-term rental operators to be licensed by the city and renew annually.
2. Owners would have to keep records of anyone who entered the property and establish a contact person available to authorities in an emergency.
3. The proposed policy also included a limit of how long a guest could stay to 15 days.
Is Pittsburgh A Profitable Area to Invest In?
If you’re worried about spending thousands of bucks to purchase a property, the good news is you have the option of not owning one. This is because there are many property investors who enjoy doing rental arbitrage in Pittsburgh as a passive income!
Airbnb metrics are important in order to expect potential revenue and avoid losing hard-earned money. Before starting an Airbnb business, getting to know your preferred area’s occupancy rates, average daily rates, and annual revenue is important to achieve success.
By using an accurate short-term rental calculator, you’ll be able to confirm if Pittsburgh is a good place for investment! In the digital era, it’s easy to discover your estimated annual revenue and high-return investment opportunities in Pittsburgh.
Source: Airbtics Dashboard
Pittsburgh Rental Market 2022
Based on a recent report of Pittsburgh’s apartment rental market in 2022, there is a 6.6% rent increase in comparison to 2021 and over 53% of the community in Pittsburgh are renters.
Source: Rental Growth in Pittsburgh
Profitable Neighborhoods in Pittsburgh
Here are some of the most recommended neighborhoods that you can look into & consider purchasing based on Airbtics estimator:
| Suburbs | Average House Price (2bd condo) | Average Rent Price | Average Airbnb Revenue |
|---|---|---|---|
| Bloomfield | $399,317 (1,140 sqft) | $1,379 | $2,967 |
| Shadyside | $765,000 (1,570 sqft) | $1,845 | $2,568 |
| Lawrenceville | $385,000 (2,172 sqft) | $1,845 | $3,407 |
Source for Property Price: Properties in Pittsburgh
Conclusion
In general, considering the Airbnb rules & regulations in Pittsburgh will help your Airbnb business to run smoothly! Aside from the fact that this is a passive income for various hosts, starting an Airbnb business is also a way to enjoy life and connect with new people from all over the world. Try Airbtics now and make the wisest investment decisions!
