Discovering Philadelphia Real Estate Investing for Short-term Rentals

Philadelphia is a true city. While it can be overlooked for its larger cousins like New York City and Chicago, this gem of a city is well worth considering for your next dive into Philadelphia real estate investing. In this post, we’ll explore five Philly neighborhoods worth considering for your newest short-term rental real estate investment.

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Why Philly?

Fair question. Philadelphia is so much more than its cheesesteaks and the Liberty Bell. For one, the city has strong economic diversity. As both a business hub and tourist epicenter, there is a steady supply of business travelers and tourists all year long. Additionally, it has a great transportation system that attracts travelers. Further, it’s a relatively affordable option compared to other East Coast cities. As a city that draws millions of visitors each year, it’s a solid choice for short-term rental investment.

Best neighborhoods for a short-term rental in Philadelphia

Let’s take a look at some of the best neighborhoods to host a short-term rental in Philly.

Center City

As the heart of downtown Philly, Center City is the first choice for many tourists and business travelers. It’s home to iconic sites like the Reading Terminal Market and the Philadelphia Museum of Art. As a central location, Center City always has steady and consistent demand. Here you’ll find both historic brownstone homes and modern condos. It’s a great all-around downtown neighborhood to consider.

Northern Liberties

Affectionately known as “NoLibs,” Northern Liberties is a hub for both creatives and young professionals. There are many lofts and rowhomes in this town that welcome artists regularly. The area has a lot of potential and is a solid opportunity to get in on the “ground floor” of an up-and-coming neighborhood.

Fishtown

Once a working-class neighborhood, Fishtown has since become one of the coolest and hippest destinations in the country. It regularly attracts artists and entrepreneurs. It has a thriving art, music, and food scene that uniquely blends old-school styles with present-day. It is particularly loved by millennial travelers. With renovated rowhouses, new constructions, and really cool converted industrial buildings, Fishtown is an obvious choice for short-term rental investors.

University City

Home to the University of Pennsylvania and Drexel University, University City makes a whole lot of sense for a neighborhood name. As the city’s academic hub, investors will find steady demand from students, faculty, and other visitors. There is a lot of opportunity for investment in this community with a range of entry price points for investors.

South Philadelphia

While we all know the song made famous by The Fresh Prince of Bel-Air, South Philadelphia remains a great place of culture and excellent food. Home to attractions like the Italian Market and many sports complexes, it’s a popular place to host short-term rentals. The area has a unique character and welcoming atmosphere that makes it perfect for a short-term rental investment. Truly, the dynamic food scene is a large draw, with its iconic Philly cheesesteak spots lining the streets. Investors will find a wide variety of rowhomes, apartments, and modern single-family homes in this neighborhood.

Final thoughts

The City of Brotherly Love is a great choice for those looking to dive into the short-term rental market. Each of these neighborhoods has its own unique personality that makes them well worth exploring for your next short-term rental investment opportunity. After gaining a thorough understanding of the rules and regulations surrounding this city, dive in and start building your business today.

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