Is Rome, New York Good for Airbnb Investment?

To start an Airbnb in Rome, New York, begin by researching local zoning laws and regulations through the Town of Rome Planning Department, as short-term rentals may require special permits or fall under specific zoning classifications. Contact Rome's Code Enforcement Office to understand permit requirements, which typically include a Certificate of Occupancy for rental use and potentially a business license from Oneida County. Find a suitable property by searching real estate listings in residential areas that allow short-term rentals, considering proximity to Griffiss International Airport and local attractions like Fort Stanwix National Monument. Once you secure a property, furnish it with essential amenities including comfortable beds, linens, kitchen appliances, Wi-Fi, and safety equipment like smoke detectors and fire extinguishers, ensuring compliance with New York State fire safety codes. Create your Airbnb listing with high-quality photos, detailed descriptions highlighting Rome's historical significance and nearby attractions, competitive pricing based on local market rates (typically $80-150 per night), and clear house rules. For ongoing management, establish a system for guest communication, cleaning between stays, key exchange (consider smart locks), and maintain relationships with local cleaning services and maintenance contractors, while ensuring you collect and remit appropriate New York State and local occupancy taxes, which may include the state's 4% sales tax plus any local hotel taxes imposed by Oneida County.

For identifying profitable STR properties in Rome, New York, focus on locations within walking distance of downtown Rome's business district, near Griffiss International Airport, or close to major employers like Rome Lab and local hospitals, as these areas attract business travelers and visiting professionals. Target properties with 2-3 bedrooms, modern amenities, reliable WiFi, parking spaces, and easy highway access via Routes 26, 49, or Interstate 90, since most guests will be driving. Conduct pricing analysis by researching comparable Airbnb and VRBO listings within a 5-mile radius, aiming for rates between $80-150 per night depending on property size and amenities, while factoring in seasonal fluctuations during summer months and local events at nearby colleges like Utica University. Competition research should include monitoring occupancy rates of existing STRs through tools like AirDNA or Mashvisor, identifying gaps in the market such as pet-friendly options or extended-stay accommodations for temporary workers. Utilize Rome-specific resources including the Rome Chamber of Commerce for local event calendars, Oneida County tourism data, and local Facebook groups like "Rome NY Community" to understand visitor patterns, while leveraging broader tools like Zillow for property acquisition costs, STR analytics platforms for revenue projections, and connecting with local property management companies familiar with Rome's rental regulations and seasonal demand patterns driven by the area's military presence and small business community.

To obtain an Airbnb/STR permit in Rome, New York, you must first contact the Rome City Planning Department at City Hall located at 198 North Washington Street to determine if short-term rentals are permitted in your zoning district, as Rome follows standard New York State regulations which generally require properties to be owner-occupied for rentals under 30 days. You'll need to submit an application including proof of property ownership or lease agreement, certificate of occupancy, floor plans, proof of liability insurance (typically $500,000 minimum), fire safety inspection certificate from the Rome Fire Department, and a completed STR registration form. Required documents also include a site plan showing parking availability, neighbor notification letters, and payment of application fees estimated at $150-300 plus annual renewal fees of approximately $100-200. The process typically takes 30-60 days for review and approval, during which time the city will conduct inspections to ensure compliance with building codes, fire safety standards, and zoning requirements. Rome specifically requires that all STR properties maintain adequate off-street parking, meet occupancy limits based on square footage, install smoke and carbon monoxide detectors in all sleeping areas, and display the permit number in all advertising materials, with violations subject to fines ranging from $500-2,000 per incident.

Short-term rentals (STRs) have different legal statuses in Rome, Italy versus Rome, New York. In Rome, Italy, STRs are legal but heavily regulated since 2019 when the city implemented strict licensing requirements including the Codice Identificativo Nazionale (CIN) registration system, limits on new licenses in the historic center (Zone A), and mandatory safety equipment installations, with recent 2023 restrictions further limiting new permits in UNESCO World Heritage areas and requiring hosts to obtain specific authorizations from local municipalities. In Rome, New York (a small city in Oneida County), STRs operate under New York State regulations which generally allow short-term rentals in most residential areas, though individual municipalities can impose additional restrictions - Rome, NY has not implemented city-specific STR bans as of 2023, unlike New York City which has severe restrictions, making STRs relatively more permissible in Rome, NY compared to major urban centers, though hosts must still comply with state tax requirements and local zoning ordinances that may limit commercial activities in residential neighborhoods.

In Rome, the best Airbnb investment areas include Trastevere for its authentic Roman charm and proximity to major attractions, Centro Storico (Historic Center) near the Pantheon and Trevi Fountain for maximum tourist appeal, and Monti district for its trendy restaurants and nightlife attracting younger travelers. The Vatican area (Borgo/Prati) offers consistent demand from religious tourists and pilgrims year-round. In New York, Manhattan's Lower East Side and East Village provide strong returns due to their vibrant nightlife and cultural scene, while Williamsburg and DUMBO in Brooklyn offer better value with stunning Manhattan views and growing popularity among millennials. Midtown West near Times Square and Hell's Kitchen capture business travelers and theater-goers, while the Upper West Side appeals to families and longer-term stays due to its residential feel and proximity to Central Park. These areas benefit from consistent tourism, business travel, cultural events, and strong transportation connections, with Rome's areas capitalizing on historical significance and New York's neighborhoods leveraging urban amenities and accessibility.

In Rome, Airbnb hosts must collect a city tourist tax of €3.50 per person per night for the first 10 nights, with children under 10 exempt, and this tax is typically collected by Airbnb directly and remitted to the city on behalf of hosts through their automated tax collection system. In New York, short-term rental regulations are highly restrictive with most Airbnb rentals under 30 days being illegal as of 2023, but for legal rentals over 30 days, hosts must pay standard hotel occupancy taxes including the state sales tax of 8%, NYC sales tax of 4.5%, and hotel room occupancy tax of $2 per night plus 5.875% of rent, totaling approximately 18.375% plus the flat fee, with hosts responsible for collecting these taxes from guests and remitting them quarterly to the New York State Department of Taxation and Finance and NYC Department of Finance, though some platforms may collect and remit certain taxes automatically depending on the arrangement.

Starting an Airbnb in Rome requires approximately €280,000-320,000 total initial investment, including property purchase at median €250,000 for a 1-2 bedroom apartment, furnishing costs of €15,000-20,000, initial setup including photography and listing creation at €1,500, permits and registration fees around €500-800, specialized short-term rental insurance at €1,200 annually, utility deposits and connections totaling €800, and six months operating costs including utilities, cleaning, maintenance, and platform fees estimated at €12,000. In New York, the total investment ranges from $680,000-750,000, with median property purchase at $600,000 for a comparable unit, furnishing costs of $25,000-30,000, initial setup at $2,000, permits and legal compliance fees around $3,000-5,000 due to strict regulations, specialized insurance at $2,500 annually, utility connections and deposits at $1,500, and six months operating expenses including higher utilities, professional cleaning, maintenance, taxes, and fees totaling approximately $18,000, though investors should note New York's restrictive short-term rental laws significantly limit Airbnb operations in most residential buildings.

Airbnb properties in Rome and New York show significantly different profitability profiles based on 2023-2024 market data. In Rome, typical one-bedroom apartments generate average monthly revenues of €2,800-3,500, with expenses including cleaning (€150-200 per turnover), utilities (€180-250/month), property management fees (15-25% of revenue), and city tourist taxes (€3-7 per night), resulting in net profit margins of 35-45% for well-managed properties in prime locations like Trastevere or near the Colosseum. New York presents higher revenue potential but steeper costs, with Manhattan one-bedroom units averaging $4,500-6,500 monthly revenue, though expenses are substantially higher including cleaning ($80-120 per turnover), utilities ($200-350/month), property management (20-30%), insurance premiums 40% higher than traditional rentals, and strict compliance costs for Local Law 18 registration, yielding profit margins of 25-35%. Success factors in Rome include proximity to major attractions, authentic Italian design, and multilingual hosting, while New York properties succeed through luxury amenities, 24/7 concierge services, and strategic locations near subway lines. Case studies show a Rome apartment near Vatican City achieved 85% occupancy with €42,000 annual profit on €78,000 revenue, while a Brooklyn Heights property generated $95,000 revenue with $32,000 net profit, demonstrating Rome's superior margin efficiency despite New York's higher absolute returns.

Airbnb investments in Rome typically generate annual ROI of 8-12% with cash-on-cash returns ranging from 6-10%, while New York properties generally yield 4-8% annual ROI with cash-on-cash returns of 3-7% due to higher property acquisition costs and stricter regulations. Rome investors can expect profitability within 18-24 months given lower entry costs averaging €200,000-400,000 for suitable properties in tourist areas like Trastevere or near the Colosseum, with average daily rates of €80-150 generating monthly revenues of €2,000-4,500. New York Airbnb investments require 24-36 months to reach profitability due to property costs of $500,000-1,200,000 in viable neighborhoods like Brooklyn or Queens, with average daily rates of $120-250 producing monthly revenues of $3,000-7,500, though regulatory restrictions in Manhattan significantly impact potential returns. Rome's tourism seasonality affects occupancy rates from 60-85% annually, while New York maintains more consistent 65-75% occupancy but faces higher operational costs including property taxes, insurance, and compliance requirements that can reduce net returns by 20-30% compared to gross revenue projections.

STRSearch is a national platform that specializes in identifying profitable short-term rental properties across multiple markets including Rome, New York. Local real estate agents in the Rome area who focus on investment properties include Coldwell Banker Faith Properties, RE/MAX Integrity, and Keller Williams Mohawk Valley, with agents like Maria Rossi at Century 21 and David Thompson at Howard Hanna having experience with Airbnb investment properties since around 2018-2020. National services that operate in the Rome market include Mashvisor, which provides Airbnb analytics and property recommendations, BiggerPockets for investor networking and deal sourcing, and Awning which offers short-term rental investment analysis. RedfinNow and Zillow Instant Offers occasionally feature investment-suitable properties in the area, while companies like AirDNA provide market data and revenue projections for potential Airbnb investments. Local property management companies such as CNY Property Management and Mohawk Valley Rentals have expanded into Airbnb management services since 2019, and investment-focused brokerages like Marcus & Millichap occasionally handle multi-family properties suitable for short-term rental conversion in the greater Rome, NY region.