Is Port Richey, Florida Good for Airbnb Investment?

To start an Airbnb in Port Richey, Florida, begin by researching local regulations through Pasco County's zoning department and the City of Port Richey, as short-term rentals typically require compliance with residential zoning laws and may need special use permits or business licenses, with some areas restricting rentals to minimum 30-day stays. Obtain necessary permits including a business tax receipt from Pasco County (approximately $50-100 annually), register for Florida sales tax collection with the Department of Revenue, and ensure compliance with fire safety codes and occupancy limits. Find a suitable property by analyzing the local market where average nightly rates range $80-150, focusing on areas near the Gulf Coast, Anclote River, or downtown Port Richey, considering properties that allow short-term rentals in their HOA agreements or deed restrictions. Furnish the property with coastal-themed decor, essential amenities like WiFi, air conditioning, full kitchen appliances, quality linens, and safety equipment including smoke detectors and first aid kits, budgeting approximately $5,000-15,000 for a complete setup. List your property on Airbnb, VRBO, and Booking.com with professional photography highlighting waterfront access, proximity to Tarpon Springs (15 minutes), and local attractions like Werner-Boyce Salt Springs State Park, setting competitive pricing based on seasonal demand with higher rates during winter months (December-April) when snowbirds visit. Manage the property by establishing cleaning protocols between guests, responding promptly to inquiries, coordinating check-ins/check-outs, maintaining the property regularly, and considering hiring local property management companies like RedAwning or Vacasa if managing remotely, while keeping detailed records for tax purposes and monitoring local regulation changes through Pasco County updates.

To identify profitable short-term rental properties in Port Richey, Florida, focus on locations within 1-2 miles of the Cotee River waterfront, near Sims Park, or close to Werner-Boyce Salt Springs State Park, as these areas attract tourists seeking water activities and nature experiences. Target 2-4 bedroom single-family homes or condos built after 1990 with amenities like pools, waterfront access, boat docks, or canal views, as these features command premium rates of $150-300 per night compared to $80-150 for standard properties. Analyze comparable properties on Airbnb and VRBO within a 3-mile radius, noting that waterfront properties typically achieve 65-75% occupancy rates while inland properties average 45-60%, with peak season (December-April) rates 40-60% higher than summer months. Research competition by monitoring listings from established management companies like RedAwning and Vacasa, while identifying gaps in luxury or pet-friendly accommodations that could capture underserved market segments. Utilize tools like AirDNA for market analytics, STR Helper for profit calculations, and local resources including the Pasco County Property Appraiser website for property values, while connecting with West Pasco Chamber of Commerce for tourism trends and partnering with local property management companies like Gulf Coast Property Management for operational insights and regulatory compliance guidance.

To obtain an Airbnb/STR permit in Port Richey, Florida, you must first contact the City of Port Richey Planning and Zoning Department at City Hall located at 6333 Ridge Road to determine if short-term rentals are permitted in your specific zoning district, as the city has specific regulations governing STRs. You'll need to submit an application for a Conditional Use Permit or Special Exception (depending on zoning), which requires a completed application form, property survey, site plan showing parking and access, proof of property ownership or lease agreement, and a $350-500 application fee. Additionally, you must obtain a Pasco County business tax receipt ($50-75 annually), register with the Florida Department of Revenue for tourist development tax collection, and secure appropriate insurance coverage with minimum liability limits of $500,000. The approval process typically takes 60-90 days and includes a public hearing before the Planning and Zoning Board, with notification requirements to neighboring properties within 300 feet. Port Richey requires STRs to maintain adequate off-street parking (minimum 2 spaces), comply with occupancy limits based on bedrooms and septic capacity, provide 24-hour contact information to the city and neighbors, and maintain the property in accordance with residential standards with no external signage permitted.

Short-term rentals (STRs) are legal in Port Richey, Florida, but operate under specific regulations established by the city. Port Richey requires STR operators to obtain a business tax receipt and comply with zoning restrictions that typically limit rentals to properties in commercially zoned areas or specific residential zones that allow transient accommodations. The city prohibits STRs in certain residential neighborhoods to preserve community character and has implemented occupancy limits, parking requirements, and noise ordinances that operators must follow. Property owners must also comply with Pasco County health department regulations and state requirements including collecting tourist development taxes. Recent changes around 2019-2021 included stricter enforcement mechanisms and clearer definitions of what constitutes a short-term rental, with the city requiring annual renewals of permits and establishing complaint procedures for neighbors. Violations can result in fines and permit revocation, and the city maintains the right to inspect properties for compliance with safety and zoning requirements.

The best areas for Airbnb investment in Port Richey, Florida include the Cotee River waterfront district, which attracts tourists seeking waterfront experiences and fishing activities, particularly popular during winter months when northern visitors escape cold weather. The downtown Port Richey area near Sims Park offers proximity to community events, festivals, and the scenic Pithlachascotee River, drawing visitors year-round for recreational activities and local attractions. The residential neighborhoods near Gulf Harbors and Beacon Woods provide access to golf courses and are popular with retirees and seasonal residents, creating steady demand from November through April. Areas close to Werner-Boyce Salt Springs State Park attract nature enthusiasts and eco-tourists interested in kayaking, hiking, and wildlife viewing. The neighborhoods within walking distance of Main Street benefit from the revitalization efforts and cultural events, while properties near the Pasco County beaches (about 10-15 minutes away) capture overflow demand from beachgoers seeking more affordable accommodations than direct beachfront properties, with consistent bookings during peak tourist seasons from December through March and summer months.

Port Richey, Florida imposes several lodging taxes on Airbnb rentals, including the Florida state sales tax of 6%, the discretionary tourist development tax of 5% levied by Pasco County, and a local resort tax of 1% imposed by the city. These taxes totaling 12% apply to rental periods of six months or less and are collected on the total rental amount including cleaning fees. Airbnb typically collects and remits the state sales tax and tourist development tax automatically for hosts, while the local resort tax may require separate registration and remittance by individual hosts to the City of Port Richey on a monthly basis by the 20th of the following month. Exemptions generally apply to rentals exceeding six months in duration, rentals to permanent residents, and certain government or charitable organization bookings, though hosts should verify current exemption criteria as tax obligations can change and may require separate business tax receipts or occupational licenses from both the city and county.

To start an Airbnb in Port Richey, Florida, the total initial investment would be approximately $285,000-$315,000. Property purchase costs around $220,000-$250,000 based on median home prices in the area as of 2023-2024. Furnishing a 2-3 bedroom property completely would cost $15,000-$25,000 including furniture, appliances, linens, and decor from retailers like IKEA, Wayfair, and local stores. Initial setup expenses including professional photography, listing creation, and marketing materials would be $1,500-$2,500. Permits and fees including business license, vacation rental permit, and inspection fees would total $500-$1,200 depending on local Pasco County requirements. Insurance including landlord and short-term rental coverage would cost $2,000-$3,500 annually. Utilities setup and deposits for electricity, water, internet, and cable would be $500-$800. First six months operating costs including utilities ($900-$1,200), cleaning services ($1,800-$2,400), maintenance ($1,000-$1,500), property management software subscriptions ($300-$600), and marketing ($500-$1,000) would total approximately $4,500-$6,700. Additional working capital of $5,000-$10,000 should be reserved for unexpected expenses and vacancy periods.

Airbnb properties in Port Richey, Florida typically generate annual revenues between $18,000-$35,000 for standard 2-3 bedroom homes, with average daily rates ranging from $75-$120 depending on proximity to the Gulf Coast and property amenities. Operating expenses generally consume 40-60% of gross revenue, including cleaning fees ($50-80 per turnover), property management (15-25% of revenue), utilities ($150-250 monthly), insurance ($1,200-2,000 annually), and maintenance costs averaging $2,000-4,000 yearly. Properties within 5 miles of beaches like Robert K Rees Memorial Park achieve higher occupancy rates of 65-75% compared to inland properties at 45-60%, resulting in net profit margins of 15-25% for coastal properties versus 5-15% for inland locations. Success factors include professional photography, responsive guest communication, competitive pricing during peak winter months (January-March), and targeting snowbird demographics from the Northeast and Midwest. A typical 3-bedroom home purchased for $180,000 in 2022 near the Pithlachascotee River generated approximately $28,000 in gross revenue with $16,800 in expenses, yielding an 11.2% return on investment, while waterfront properties command premium rates of $150-200 nightly during peak season, significantly improving profitability despite higher acquisition costs.

Airbnb investments in Port Richey, Florida typically generate annual ROI of 8-12% with cash-on-cash returns ranging from 6-10% based on current market conditions. Properties in this Gulf Coast city, located approximately 35 miles northwest of Tampa, benefit from year-round tourism and proximity to beaches, with average daily rates of $85-120 depending on property size and amenities. Initial investment costs average $180,000-280,000 for suitable rental properties, with monthly gross revenues typically ranging from $2,200-3,800 for well-positioned homes near the Pithlachascotee River or within walking distance of downtown attractions. After accounting for property management fees (typically 20-25%), cleaning costs, utilities, insurance, and maintenance, net annual returns generally fall between $8,000-15,000 annually. Most investors achieve profitability within 18-24 months, with break-even typically occurring in months 12-18 depending on initial capital investment and financing structure. The market shows strong occupancy rates of 65-75% annually, driven by fishing enthusiasts, beach visitors, and Tampa Bay area overflow tourism, with peak seasons generating 85-90% occupancy rates during winter months and summer vacation periods.

STRSearch is a leading national platform that specializes in identifying profitable short-term rental properties for investors in Port Richey, Florida, offering comprehensive market analysis and property recommendations. Local real estate agents like those at Keller Williams New Port Richey and RE/MAX Realtec Group have extensive knowledge of the Pasco County market and can identify properties with strong Airbnb potential near popular attractions like the Cotee River and Gulf beaches. National services include Mashvisor, which provides detailed rental income projections and neighborhood analysis for Port Richey properties, and BiggerPockets, offering investor networking and market insights. AirDNA delivers crucial short-term rental market data and competitor analysis for the Tampa Bay area including Port Richey. Local property management companies like Vacasa and RedAwning can help investors maximize returns through professional Airbnb management services. Real estate investment firms such as Roofstock and Fundrise occasionally feature Florida Gulf Coast properties suitable for short-term rentals. Additionally, local agents at Century 21 Coast to Coast and Coldwell Banker Realty specialize in investment properties and understand Port Richey's zoning regulations and HOA restrictions that affect Airbnb operations.