Is Queens, New York Good for Airbnb Investment?

To start an Airbnb in Queens, New York, begin by researching NYC's strict short-term rental regulations under Local Law 18, which requires hosts to register with the Mayor's Office of Special Enforcement and limits rentals to under 30 days only when the host is present, effectively making most traditional Airbnb operations illegal as of 2023. If proceeding with compliant hosting, obtain necessary permits including a short-term rental registration, ensure your property meets fire safety codes, and verify your lease or ownership allows short-term rentals. Find a suitable property in Queens neighborhoods like Astoria, Long Island City, or Flushing, considering proximity to Manhattan and transportation access. Furnish the space with essential amenities including quality bedding, kitchen supplies, WiFi, and safety equipment like smoke detectors and carbon monoxide alarms. Create your Airbnb listing with professional photos, detailed descriptions highlighting Queens attractions like Flushing Meadows Corona Park and diverse dining options, and competitive pricing based on local market rates typically ranging $75-150 per night depending on location and size. Manage your property by maintaining cleanliness standards, responding promptly to guest inquiries, coordinating check-ins/check-outs, and ensuring compliance with NYC's occupancy limits and registration requirements, while considering hiring a local property management company given the complex regulatory environment in New York City.

To identify profitable short-term rental properties in Queens, New York, focus on neighborhoods with strong transportation links to Manhattan like Long Island City, Astoria, and Flushing, which offer subway access within 30-45 minutes to Midtown. Target 1-2 bedroom apartments or entire homes near major attractions such as Citi Field, Flushing Meadows Corona Park, or the Museum of the Moving Image, with properties featuring modern amenities, parking availability, and outdoor space commanding premium rates. Conduct pricing analysis using AirDNA and Mashvisor to identify areas where nightly rates of $80-150 can generate 60-70% occupancy rates, ensuring gross rental yields exceed 8-10% annually. Research competition density through Airbnb and VRBO searches, avoiding oversaturated areas while identifying underserved pockets near business districts like Court Square or emerging neighborhoods like Ridgewood. Utilize tools like BiggerPockets for investment analysis, StreetEasy for property acquisition costs, and local STR management platforms like RedAwning, while monitoring Queens-specific regulations through NYC's Office of Special Enforcement and ensuring compliance with the city's Local Law 18 registration requirements that significantly impact STR operations.

To obtain an Airbnb/STR permit in Queens, New York, you must first register with the NYC Mayor's Office of Special Enforcement (OSE) through their online portal at nyc.gov/str, which requires submitting a completed registration application along with a $145 registration fee, proof of primary residence (lease or deed), floor plans of the rental unit, a certificate of occupancy, and liability insurance documentation of at least $500,000. You'll also need to provide a notarized affidavit confirming you'll be present during all stays, as NYC law requires hosts to be physically present when guests are in the unit. The application process typically takes 30-60 days for approval, and you must also obtain a Multiple Dwelling Registration (MDR) from the Department of Housing Preservation and Development if your building has three or more units, which costs $210 annually. Additionally, Queens-specific requirements include ensuring your property complies with local zoning laws (most residential areas only allow short-term rentals in R1 through R5 zones), obtaining any necessary permits from the Department of Buildings for any modifications, and registering for NYC business taxes through the Department of Finance. Once approved, you'll receive a registration number that must be displayed in all listings, and you're required to maintain detailed guest records and remit applicable occupancy taxes to the city quarterly.

Short-term rentals (STRs) in Queens, New York are heavily restricted under New York City's Local Law 18, which took effect in September 2023. STRs of less than 30 days are only legal if the host is present during the guest's stay and the rental accommodates no more than two guests at a time, with hosts required to register with the Mayor's Office of Special Enforcement and obtain an operating certificate. The law effectively prohibits most traditional Airbnb-style rentals throughout Queens, as it does across all five NYC boroughs, with violations carrying fines up to $5,000 per day. Properties in rent-stabilized buildings face additional restrictions, and hosts must provide detailed floor plans and comply with building safety codes. The registration process has proven extremely difficult, with approval rates below 5% as of 2024, making legal STR operations nearly impossible in Queens. This represents a dramatic shift from the pre-2023 period when STRs operated with minimal regulation, and the changes have effectively eliminated the short-term rental market in Queens except for a small number of compliant hosted stays.

The best Airbnb investment areas in Queens, New York include Long Island City, which offers stunning Manhattan skyline views and proximity to Midtown via the 7 train, making it highly attractive to business travelers and tourists seeking luxury accommodations at lower costs than Manhattan. Astoria stands out for its vibrant food scene, cultural diversity, and easy subway access to Manhattan, appealing to younger travelers and food enthusiasts. Flushing is excellent for international visitors, particularly those from Asia, due to its authentic cultural experiences, proximity to Citi Field and the US Open tennis venue, and direct LIRR connections to Manhattan. Forest Hills attracts families and longer-stay guests with its quiet residential charm, historic Tudor architecture, and convenient subway access, while also benefiting from US Open tennis traffic. Jackson Heights offers affordable rates for budget-conscious travelers while providing authentic multicultural experiences and good transit connections. Williamsburg-adjacent areas like Greenpoint provide trendy, artistic atmospheres that appeal to millennials and creative professionals, while Rockaway Beach areas can capitalize on summer tourism and year-round surfers seeking beachfront accommodations within NYC limits.

Airbnb hosts in Queens, New York are subject to multiple lodging taxes including New York State sales tax at 8% and New York City hotel room occupancy tax at 5.875%, totaling 13.875% on rental income. The city also imposes an additional $1.50 per night unit fee for stays under 30 days. These taxes apply to short-term rentals under 30 consecutive days, with longer stays typically exempt from occupancy taxes but still subject to regular sales tax. Airbnb automatically collects and remits these taxes for most bookings made through their platform as of 2018, though hosts remain responsible for ensuring compliance and may need to register for tax permits with the New York State Department of Taxation and Finance and NYC Department of Finance. Hosts must also comply with Local Law 18 requiring registration with the Mayor's Office of Special Enforcement, and properties with fewer than three units may be exempt from certain commercial tax obligations but still subject to the standard occupancy taxes when operating as short-term rentals.

To start an Airbnb in Queens, New York, the total initial costs would be approximately $850,000-$950,000. Property purchase represents the largest expense at $650,000-$750,000 based on median home prices in desirable Queens neighborhoods like Astoria or Long Island City. Furnishing costs typically range $15,000-$25,000 for a complete 2-bedroom setup including furniture, appliances, linens, and decor from retailers like IKEA, Wayfair, and West Elm. Initial setup costs including professional photography, listing creation, and basic renovations total $3,000-$5,000. NYC requires a Multiple Dwelling Registration and short-term rental permits costing approximately $2,000-$3,000 in fees and legal compliance. Commercial insurance for short-term rentals runs $2,500-$4,000 annually. Utility deposits and setup fees for electricity, gas, water, internet, and cable total $1,500-$2,500. First six months of operating costs including utilities ($1,800), cleaning services ($3,600), supplies and maintenance ($1,200), platform fees to Airbnb ($4,800 assuming $1,600 monthly revenue), property taxes ($6,000), and marketing expenses ($600) total approximately $18,000. Additional considerations include potential HOA fees, property management costs if outsourced, and a cash reserve for unexpected repairs or vacancy periods.

Airbnb properties in Queens, New York typically generate annual revenues ranging from $25,000 to $65,000 depending on location and property type, with average daily rates between $80-150 and occupancy rates of 60-75%. 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 ($1,200-2,500 annually), and maintenance costs ($2,000-5,000 yearly). Properties in neighborhoods like Long Island City and Astoria command premium rates due to Manhattan proximity, with some hosts reporting net profit margins of 25-35% after expenses. Success factors include strategic pricing using dynamic tools, professional photography, rapid guest communication, and maintaining superhost status, with properties near subway stations and airports performing particularly well. Case studies from 2022-2023 show that well-managed one-bedroom apartments in Flushing average $35,000 annual revenue with $22,000 in expenses, yielding approximately $13,000 net profit, while larger properties in desirable areas like Williamsburg borders can achieve $50,000+ revenues with proportionally higher but manageable expense ratios.

Airbnb investments in Queens, New York typically generate annual ROI of 8-15% with cash-on-cash returns ranging from 12-22% depending on property type and location within the borough. Properties in areas like Long Island City and Astoria command higher nightly rates of $80-150, while neighborhoods like Jamaica and Flushing average $60-100 per night. Initial investment recovery usually occurs within 3-5 years, with monthly gross rental income averaging $2,500-4,500 for one-bedroom units and $3,500-6,000 for two-bedroom properties. Occupancy rates in Queens average 65-75% annually, with peak seasons during summer months and major NYC events driving rates up 20-30%. Operating expenses including cleaning, utilities, insurance, and platform fees typically consume 35-45% of gross revenue, while property appreciation in desirable Queens neighborhoods adds an additional 3-6% annual return on investment.

STRSearch is a national platform that specializes in identifying profitable short-term rental properties for investors in Queens, New York. Local real estate agents like Douglas Elliman, Corcoran Group, and Compass have dedicated teams focusing on investment properties suitable for Airbnb conversions in neighborhoods like Long Island City, Astoria, and Flushing. National services include Mashvisor, which provides Airbnb analytics and property recommendations, AirDNA for market data analysis, and Roofstock for turnkey rental properties. Queens-specific services include Queens Home Team Realty, which specializes in multi-family investment properties, and local property management companies like RedAwning and AvantStay that help investors identify and manage profitable Airbnb properties. Additional national platforms serving the Queens market include BiggerPockets for investor networking, Rentometer for rental analysis, and companies like Awning and Techvestor that focus specifically on short-term rental investments, with many of these services reporting increased activity in Queens' emerging neighborhoods since 2019-2023.