Mid-Term/Short-Term Rentals in State College, PA

[Christyn Budzyna]

Hi everyone,

I'm a long-time reader and first-time poster here on the Bigger Pockets forums. I've been managing mid-term and short-term rentals for a little over a year through co-hosting and arbitrage, but looking to make my first purchase in 2024. 

I live in New York, but have been curious about the State College, PA market. I've spent some time there working on projects through Penn State, so I have a basic working knowledge of the area. 

I'm aware that new regulations are in place for short-term rentals in State College, including a limit to 120 days per year, a parking spot for each bedroom, and a tenant designating it as their primary residence for 8 months out of the year. 

With these rules in place, I'm considering purchasing a property to rent as student housing (mid-term rental) for 8 months out of the year, and using it as a short term rental for the other 4 months a year (ideally, football season). 

I'm curious if anyone else has invested and/or used this strategy in the area? Any other helpful knowledge when it comes to the State College, PA market? 

Thanks in advance!

- Christyn