Is Cherry Hill, New Jersey Good for Airbnb Investment?

To start an Airbnb in Cherry Hill, New Jersey, begin by researching local zoning laws and regulations through the Cherry Hill Township Planning Department, as short-term rentals may require special permits or be restricted in certain residential zones. Contact the Township's Code Enforcement office at (856) 488-7870 to understand specific licensing requirements, which typically include business registration, fire safety inspections, and potential occupancy permits. Find a suitable property by searching areas like the Barclay or Kingston neighborhoods that are zoned for commercial or mixed-use activities, ensuring the property meets Cherry Hill's minimum square footage and parking requirements. Obtain necessary permits including a New Jersey business license, Camden County health department approval if serving food, and potentially a Cherry Hill short-term rental permit (estimated cost $100-300 annually). Furnish the property with quality furniture, linens, and amenities while ensuring compliance with New Jersey fire safety codes including smoke detectors, carbon monoxide detectors, and emergency exit signage. List your property on Airbnb and other platforms with competitive pricing (Cherry Hill averages $80-150 per night as of 2023), highlighting proximity to Philadelphia (15 minutes) and local attractions like the Cherry Hill Mall. Manage the property by establishing cleaning protocols, guest communication systems, and maintaining compliance with New Jersey's 6.625% sales tax collection requirements for short-term rentals, while monitoring Cherry Hill's noise ordinances and parking regulations to maintain good neighbor relations.

To identify profitable short-term rental properties in Cherry Hill, New Jersey, focus on locations within 15-20 minutes of Philadelphia's downtown core, near major highways like I-295 and Route 70, and close to attractions such as the Cherry Hill Mall, Garden State Discovery Museum, and corporate centers housing companies like TD Bank and Subaru of America headquarters. Target 2-4 bedroom single-family homes or townhouses built after 1980 with modern amenities, parking, and outdoor spaces, as these typically command $120-200 per night compared to older properties at $80-120. Analyze pricing using AirDNA and Mashvisor to benchmark against the market average of $140-160 nightly rates, while researching competition density through Airdna's market reports showing Cherry Hill has moderate saturation with approximately 150-200 active STR listings as of 2023. Utilize tools like Rabbu, BiggerPockets calculators, and local MLS data through GSMLS to identify properties under $400,000 that can generate 15-25% annual returns, while monitoring seasonal demand patterns that peak during summer months and corporate travel periods when nearby businesses like Lockheed Martin and Cooper University Hospital drive weekday bookings.

To obtain an Airbnb/STR permit in Cherry Hill, New Jersey, you must first contact the Cherry Hill Township Zoning Office at 820 Mercer Street to determine if short-term rentals are permitted in your specific zoning district, as the township has restrictions on STRs in residential areas. You'll need to submit an application through the Township's Planning and Zoning Department, providing required documents including a site plan, proof of property ownership or lease agreement, certificate of occupancy, fire safety inspection certificate from the Cherry Hill Fire Department, and proof of liability insurance with minimum $1 million coverage. The application fee is typically around $150-300, with additional inspection fees of approximately $100-200. You must also register with the New Jersey Division of Taxation for sales tax collection and obtain a New Jersey business license if operating commercially. The approval process generally takes 4-8 weeks, depending on inspection scheduling and any required modifications. Cherry Hill specifically requires STR operators to maintain on-site parking, limit occupancy to no more than 2 guests per bedroom plus 2 additional guests, ensure 24/7 contact availability, and comply with noise ordinances. Properties must pass health and safety inspections, maintain proper egress routes, and have functioning smoke and carbon monoxide detectors in all sleeping areas.

Short-term rentals (STRs) in Cherry Hill, New Jersey operate in a legal gray area as the township has not enacted specific regulations governing platforms like Airbnb and VRBO as of 2023. While not explicitly prohibited, STR operators must comply with existing zoning ordinances that typically restrict commercial activities in residential zones, and many residential areas in Cherry Hill are zoned exclusively for single-family use which could conflict with short-term rental operations. Property owners must also adhere to state and local tax requirements, fire safety codes, and homeowners association rules where applicable. The township has been monitoring STR activity and considering potential regulatory frameworks similar to neighboring municipalities, but no comprehensive ordinance has been adopted. Current enforcement appears to be complaint-driven, focusing on noise violations, parking issues, and zoning compliance rather than outright prohibition of short-term rentals.

The best areas for Airbnb investment in Cherry Hill, New Jersey include the Barclay Farm neighborhood, which attracts business travelers due to its proximity to major corporate offices and pharmaceutical companies like Subaru of America's headquarters, and the area near Cherry Hill Mall, one of the largest shopping destinations on the East Coast that draws visitors year-round for retail tourism. The Erlton-Ellisburg district is highly desirable for its easy access to Philadelphia via PATCO High Speed Line, making it attractive to tourists wanting to stay outside the city while maintaining convenient transportation, while the Kingston Estates area appeals to families visiting nearby attractions like the Garden State Discovery Museum and those attending events at the BB&T Pavilion amphitheater. The neighborhoods around Croft Farm Arts Center benefit from cultural tourism and wedding guests, as the venue hosts numerous events throughout the year, and areas near Cherry Hill Township's business district attract corporate travelers visiting the concentration of Fortune 500 companies and medical facilities in the region, with properties typically commanding higher nightly rates due to consistent business demand.

In Cherry Hill, New Jersey, Airbnb hosts are subject to New Jersey's state sales tax of 6.625% on short-term rental accommodations, which applies to stays of less than 90 consecutive days. Additionally, hosts must collect and remit the state occupancy fee of $5 per room per night for the first 90 nights of occupancy. Camden County may impose a local hotel/motel tax of up to 3%, though the specific rate for Cherry Hill varies by municipal ordinance. These taxes are typically collected from guests at the time of booking through Airbnb's automated tax collection system in many cases, though hosts remain ultimately responsible for ensuring proper remittance to the New Jersey Division of Taxation on a quarterly basis using Form ST-50. Exemptions generally apply to stays exceeding 90 consecutive days, which are considered long-term rentals rather than transient accommodations, and certain government or charitable organization bookings may qualify for exemptions with proper documentation.

To start an Airbnb in Cherry Hill, New Jersey, expect total costs around $385,000-$425,000. Property purchase represents the largest expense at approximately $350,000 based on median home prices in the area as of 2023-2024. Furnishing costs typically range $15,000-$25,000 for a complete 2-3 bedroom property including furniture, appliances, linens, and decor to create an attractive rental space. Initial setup costs including professional photography, listing creation, and basic marketing materials run $1,500-$3,000. Permits and fees vary but budget $500-$1,500 for business licenses, short-term rental permits, and any required inspections from Cherry Hill Township. Insurance costs increase significantly for short-term rentals, adding approximately $2,000-$4,000 annually above standard homeowner's insurance. Utilities including electricity, gas, water, internet, and cable average $300-$500 monthly or $1,800-$3,000 for six months. First six months operating costs including cleaning services, maintenance, supplies, platform fees, and vacancy periods typically total $8,000-$15,000. Additional considerations include property taxes averaging $8,000-$12,000 annually and potential HOA fees if applicable, though these ongoing costs extend beyond the initial startup investment.

Airbnb properties in Cherry Hill, New Jersey typically generate annual revenues between $15,000-$35,000 for entire homes, with average daily rates ranging from $85-$150 depending on property size and amenities. Operating expenses generally consume 40-60% of gross revenue, including cleaning fees ($30-50 per turnover), property management (10-20% of revenue), utilities ($150-300 monthly), insurance ($1,200-2,000 annually), and maintenance costs averaging $2,000-4,000 yearly. Net profit margins typically range from 15-35% for well-managed properties, with successful hosts in Cherry Hill's desirable neighborhoods near Croft Farm or the downtown area achieving higher occupancy rates of 65-75% annually. Properties within 20 minutes of Philadelphia tend to perform better due to business traveler demand, while homes with 3+ bedrooms and modern amenities like pools or updated kitchens command premium rates. A typical 3-bedroom home purchased for $300,000 in Cherry Hill can generate $25,000 in annual revenue with $15,000 in expenses, yielding approximately $10,000 net profit (33% margin), though success heavily depends on property condition, host responsiveness, and proximity to major attractions like the Cherry Hill Mall or easy highway access to Philadelphia.

Airbnb investments in Cherry Hill, New Jersey typically generate annual ROI of 8-12% with cash-on-cash returns ranging from 6-10% based on current market conditions. Properties in desirable neighborhoods near major highways like Route 70 and close to Philadelphia attractions can achieve higher returns of 12-15% annually. Initial profitability usually occurs within 18-24 months, with average daily rates of $85-120 depending on property size and amenities. The proximity to Philadelphia International Airport and downtown Philadelphia (20-30 minutes) drives consistent demand from business travelers and tourists, supporting occupancy rates of 65-75% year-round. Investment properties in the $200,000-350,000 range with 3-4 bedrooms tend to perform best, generating monthly gross revenues of $2,500-4,200 after accounting for seasonal fluctuations, with peak performance during summer months and major Philadelphia events driving premium pricing opportunities.

STRSearch is a national platform that specializes in identifying profitable short-term rental properties for investors in Cherry Hill, New Jersey. Local real estate agents like those at Keller Williams Realty in Cherry Hill and RE/MAX Properties have experience with investment properties in the area, while Weichert Realtors and Coldwell Banker Preferred have agents who understand the South Jersey market dynamics. National services include Mashvisor, which provides Airbnb analytics and property recommendations, AirDNA for market data analysis, and BiggerPockets for investor networking and deal sourcing. RedAwning offers property management and investment guidance, while local property management companies like Shore Summer Rentals and Jersey Shore Vacation Rentals can provide insights into profitable areas. Real estate investment firms such as Roofstock and Awning focus on turnkey rental properties, and local mortgage brokers like First Home Mortgage and Cross Country Mortgage understand investment property financing in New Jersey. Additionally, platforms like Rabbu and Rove Travel connect investors with short-term rental opportunities, while local real estate investment groups and meetups in the Philadelphia-South Jersey area provide networking opportunities for finding profitable Airbnb investments in Cherry Hill.