Summary
Yes, but the margins are thin: an average Lima Airbnb grossed about $6,560 over the 12 months to September 2026 (AirROI), and a managed one-bedroom in Miraflores nets only about 2% a year on its purchase price.
Short-term renting is legal in Lima: there is no citywide Airbnb law, no minimum stay and no cap on nights, but you must declare the income to SUNAT (5% of gross rent) and register foreign guests with Migraciones.
Your building's rulebook is the real legal risk: many buildings in Miraflores, Barranco and San Isidro restrict tourist stays, so get written approval before you buy.
The average Lima listing charges about $73 a night and is booked 36% of the time, which works out to roughly S/ 1,880 ($545) a month in gross revenue.
Miraflores does better than the city average: a one-bedroom there averages S/ 175 ($51) a night, 50% occupancy and S/ 28,600 ($8,300) a year in gross revenue.
Seasons swing less than people think: Miraflores occupancy moved between 43.9% and 57.6% from month to month, with nightly rates from S/ 190 ($55) to S/ 239 ($69).
Running costs take about 39% of gross revenue if you manage it yourself and about 59% with a co-host at 20%, including the 5% rental tax.
Lima has about 9,870 active Airbnb listings, and the competition is concentrated in Barranco (473), Miraflores (356) and San Isidro (291).
Cheaper districts are not automatically better: in Lince, Barranco and San Isidro, average Airbnb revenue per listing is only about 3.8% to 3.9% of a one-bedroom's asking price, against about 5.0% in Miraflores.
Two bedrooms don't pay more on average: in Miraflores a two-bedroom grosses S/ 28,400 ($8,250) a year, about the same as a one-bedroom, but costs $237,000 (about S/ 815,000) instead of $171,000 (about S/ 588,000).
A long lease is a serious rival: a Miraflores one-bedroom asks S/ 2,590 ($755) a month on a long lease, which nets about 3.9% a year, more than a managed Airbnb at 2.0%.
New in 2026: a new president since July 28, foreign-guest registration enforced through Migraciones, an extended state of emergency in Lima, and the 2027 Pan American Games (July 23 to August 8, 2027) on the horizon.
Our take: an Airbnb in Lima makes sense if you self-manage a one-bedroom in Miraflores in a building that allows it and can hold above about 56% occupancy; otherwise a long lease earns more for less work.
Is Airbnb legal in Lima, and what rules apply?
Is short-term renting allowed in Lima?
Yes. In October 2026, short-term renting is allowed in Lima, but you still have to follow tax rules, your building's rules and, if your rental starts to look like a hotel, lodging rules.
Peru has no national or citywide Airbnb law. A bill to create a register of tourist homes (called REDAT) was approved in a congressional committee in December 2024, but it has not become law. So the rules come from SUNAT tax rules, MINCETUR lodging rules and the national municipal license law.
For a normal host, the two things that matter most are declaring the rental income to SUNAT (5% of gross rent) and making sure the building or condominium does not ban tourist stays.
If you run your Airbnb like a hotel, with several units, daily services, staff or hotel-style marketing, check whether MINCETUR lodging registration and a municipal operating license apply.
If you ignore the rules, you risk back taxes, fines from the district, complaints from neighbors or the building forcing you to stop.
Are there minimum-stay rules or caps on nights per year for Airbnbs?
No. Lima has no citywide minimum stay and no cap on the number of nights you can rent per year.
There is also no public limit that changes for studios, houses, second homes or foreign owners, but a building can set stricter internal rules.
In practice, many hosts set a 2-night or 3-night minimum anyway, because cleaning and check-in costs make 1-night stays hardly worth it. The average cleaning fee charged to guests in Miraflores is about S/ 96 ($28) per stay (AirROI).
Do I have to live there, or can I Airbnb a second home?
You don't have to live in the apartment to rent it on Airbnb in Lima.
A second home or investment apartment can be rented short-term if you declare the income, follow the building rules and don't run it like an unlicensed hotel.
For a single unit, there is no separate permit for non-primary homes, but check the district municipality and the building before buying.
The difference between a main home and a second home is practical: a second home rented all year with hotel-style services (breakfast, daily cleaning, reception) is more likely to be treated as a business, which can mean 18% IGV and business income tax instead of the simple 5% rental tax.
Living abroad does not change the rate: non-residents also pay 5% of gross rent. You need a RUC (tax number) to declare it.
Can I run multiple Airbnbs under one name?
Yes, one person can list several apartments, but the risk goes up when it starts to look like a lodging business rather than simple renting.
There is no Lima-wide rule setting a maximum number of Airbnb units per person.
With several units, check your SUNAT tax registration, the municipal operating license and MINCETUR lodging rules, especially if you manage them as one operation.
The concern is simple: several short-term rentals under one name can look like an aparthotel, which is taxed and licensed differently from a normal residential rental.
Do I need a short-term rental license or a business registration to host?
An individual renting one apartment does not need a special Airbnb license, but you must declare the rental income and you may need a business registration if the activity becomes commercial lodging.
Since 2024, there is one registration every host with foreign guests must do: check the guest's ID and register the stay with Migraciones before the guest arrives (DS 011-2024-IN). This applies to Airbnb bookings and to normal leases with foreign tenants.
If your Airbnb needs a municipal operating license because it is run like a lodging business, you apply to the district municipality, and the process depends on the property, the activity and the safety inspection.
The usual file includes your ID or company details, property details, a zoning check, safety declarations and whatever else the district asks for.
Cost and timing differ by district, because Miraflores, Barranco, San Isidro, Surco and the others set their own procedures and fees.
Are there neighborhood bans or restricted zones for Airbnb?
No. Lima has no neighborhood ban on Airbnb, and you will find active listings in Miraflores, Barranco, San Isidro, Surco, San Miguel, Magdalena, Lince and Jesús María.
The strictest limits usually come from buildings in the best spots, like Miraflores near Larcomar and Parque Kennedy, Barranco near the Bajada de Baños and San Isidro near El Olivar or the Golf.
These buildings are often stricter because owners want quiet, tight security and fewer strangers coming and going every day. Ask for the building rulebook (reglamento interno) and the latest meeting minutes before you sign.
Starting a Rental in Peru
How much does an Airbnb in Lima really earn?
What's the average nightly price on Airbnb in Lima?
Over the 12 months to September 2026, the average Airbnb listing in the Lima metropolitan area charged about $73 (about S/ 250 or €65) a night (AirROI). That average is probably pulled up by beach houses and large homes in the wider metro area; in Miraflores, the average is S/ 217 ($63).
A one-bedroom in Miraflores averages S/ 175 ($51) a night and a two-bedroom S/ 234 ($68).
AirROI does not publish a median nightly rate for Lima, so we don't give one.
The biggest pricing factor is the exact location: guests pay more for safe, walkable streets near restaurants, parks, the coast or the business district.
How much do nightly prices vary by neighborhood?
Less than you might expect. Miraflores averages S/ 217 ($63) a night, San Isidro $58 (about S/ 200), Surco $51 (about S/ 175), Barranco $49 (about S/ 170), Lince $48 (about S/ 165) and San Borja $38 (about S/ 130), according to AirROI. The Surco, Lince and San Borja figures cover the 12 months to July 2026.
So Miraflores is clearly the most expensive district. Barranco is cheaper per night than its reputation suggests, probably because many of its listings are small studios and rooms.
Districts with lower nightly rates, like Lince, Jesús María and San Miguel, still get guests on lower budgets, people in town for medical visits or studies, and longer stays.
What's the typical occupancy rate?
The average Lima listing was booked 36% of the time over the 12 months to September 2026 (AirROI).
The tourist districts do better: Miraflores 45.9%, Barranco 45% and San Isidro 43%, against 40.5% in Lince, 36.1% in Surco and 34.8% in San Borja.
Lima holds up better than many smaller Peruvian destinations (Peru as a whole averages 32%) because it mixes tourists, business trips, medical visits, family visits and travelers passing through the airport.
What pushes occupancy above average is a safe, walkable location and an apartment that is easy for foreign guests to use: self check-in, good Wi-Fi, clear instructions.
What's the average monthly revenue per listing?
The average Lima listing grossed about $6,560 (about S/ 22,500) a year over the 12 months to September 2026, or about S/ 1,880 (about $545) a month (AirROI).
In Miraflores, the average is S/ 29,646 ($8,600) a year, about S/ 2,470 ($720) a month. A one-bedroom there grosses S/ 28,600 ($8,300) a year and a two-bedroom S/ 28,400 ($8,250).
These averages include listings that were only open part of the year. A one-bedroom open all year at the Miraflores average (50% occupancy at S/ 175 a night) would gross about S/ 31,940 ($9,300) a year.
What's the typical low-season vs high-season monthly revenue?
In Miraflores, average occupancy moved between 43.9% (September 2025) and 57.6% (June 2026), and the average nightly rate between S/ 190 ($55) and S/ 239 ($69) (July and August 2026).
For a listing open the whole month, that means about S/ 2,500 ($725) in the weakest month and about S/ 4,000 ($1,150) in the best one.
The weaker months were September-October 2025 and May 2026. The stronger ones were November 2025 to March 2026 (the southern summer), June 2026 and August 2026. Nightly rates rose through 2026, so part of the summer gain came from higher prices, not only more bookings.
What's a realistic Airbnb monthly expense range?
For a one-bedroom in Miraflores grossing S/ 28,600 ($8,300) a year, we estimate running costs at about S/ 920 ($265) a month if you manage it yourself and about S/ 1,400 ($405) a month with a co-host, before any mortgage.
That includes Airbnb's fee (3% with split fees, or 15.5% if you are on host-only fees), the 5% rental tax, cleaning and laundry (we assume 8% of revenue), utilities and internet (5%, AirROI's estimate), a furniture replacement reserve (3%) and about S/ 350 ($100) a month for building fees, property tax (predial and arbitrios) and repairs. That last figure is our assumption: ask the building for the real one.
The biggest cost is management: co-hosts start at about 10% of revenue and usually charge 15% to 25%. At 20%, total costs take about 59% of gross revenue, against about 39% if you manage it yourself.
What's realistic monthly net profit and profit per available night for Airbnb?
On the same Miraflores one-bedroom, net profit comes to about S/ 1,460 ($425) a month if you manage it yourself and about S/ 985 ($285) with a co-host, before any mortgage.
Per available night, that is about S/ 48 ($14) self-managed and S/ 32 ($9) with a co-host.
Against the median one-bedroom asking price in Miraflores, $171,000 (about S/ 588,000) on TuLugar in October 2026, the gross return is about 4.9% a year. After costs, it is about 3.0% self-managed and 2.0% with a co-host, and that's before buying costs (about 3% to 4% of the price on a resale).
Covering the running costs is easy: even with a co-host, the fixed costs are paid at around 12% occupancy. Beating a long lease is much harder (see below).
70+pagesHow crowded is the Lima Airbnb market?
How many active Airbnb listings are in Lima?
AirROI counts about 9,870 active listings in the Lima metropolitan area over the 12 months to September 2026, out of about 33,300 in Peru.
Other data providers give higher counts for Lima because they draw the city's limits differently, so compare figures from one source only. AirROI does not publish a reliable year-on-year change for Lima.
What has clearly changed is the quality of the competition: more professional hosts, better photos and more units in the same few tourist districts.
Which neighborhoods are most saturated?
Barranco (473 listings), Miraflores (356) and San Isidro (291) are the most crowded districts, followed by Surco (143). San Borja (53) and Lince (25) have far fewer listings (AirROI).
These districts are crowded because foreign guests know them, and because they have restaurants, nightlife, the coastal walk, offices and many modern buildings that investors feel safe buying in.
Less crowded options exist in Magdalena, Jesús María, Lince, San Miguel and parts of Surquillo, especially for longer stays and guests on a budget. But fewer listings also means less demand: Lince averaged $4,312 (about S/ 15,000) a year per listing, against $8,618 (about S/ 29,500) in Miraflores.
Measured against the median one-bedroom asking price (TuLugar, October 2026), average yearly Airbnb revenue per listing comes to about 5.0% in Miraflores (one-bedrooms ask $171,000), 3.9% in San Isidro ($145,000) and 3.8% in Barranco ($136,000) and Lince ($113,000). Cheaper districts don't buy you a better return.
What local events spike demand?
The main demand peaks are Fiestas Patrias in late July, the Señor de los Milagros processions in October, big concerts, football matches, food festivals and business conferences.
Over the past 12 months, the average nightly rate in Miraflores went from S/ 190 ($55) in its weakest month to S/ 239 ($69) in July and August 2026, about 26% higher. The busiest event weekends can go well above that for a few nights.
The next big one: Lima hosts the Pan American Games from July 23 to August 8, 2027, the dates set in January 2026. Plan your prices for it 6 to 12 months ahead, and for regular events 30 to 90 days ahead.
What occupancy differences exist between top and average hosts?
AirROI does not publish a top-host occupancy figure for Lima that we could check, so we don't give one.
What we can say: the average Lima listing is booked 36% of the time, the average Miraflores one-bedroom 50%, and even in Miraflores's best month (June 2026) the average was 57.6%. Strong hosts do better than that, but if your plan needs 70%, it's a bet, not a base case.
A new host usually needs 6 to 12 months to build reviews, find the right prices and get the operation running smoothly.
Which price points are most crowded, and where's the "white space" for new hosts?
The crowded middle in Miraflores is the one-bedroom at about S/ 175 ($51) a night: AirROI tracks about 120 entire one-bedroom homes there, and 121 two-bedrooms at S/ 234 ($68).
The "two-bedroom for families" idea is less of a gap than it sounds: in Miraflores, two-bedrooms earn about the same per year as one-bedrooms (S/ 28,400 ($8,250) vs S/ 28,600 ($8,300)) because they are booked less often (44% vs 50%).
The real white space is quality rather than size: two real bedrooms only pay if you can charge clearly more than S/ 234 ($68), with fast Wi-Fi, a proper desk, quiet windows, self check-in, good security and a location near restaurants or offices.
70+pagesWhat property works best for Airbnb demand in Lima right now?
What bedroom count gets the most bookings?
The one-bedroom. In Miraflores it is booked 50% of the time, against 44% for two-bedrooms, and it suits couples, solo travelers and business visitors.
It is also cheaper to buy: in Miraflores the median one-bedroom asks $171,000 (about S/ 588,000) and the median two-bedroom $237,000 (about S/ 815,000), for almost the same yearly revenue. That puts the gross return at about 4.9% for the one-bedroom and 3.5% for the two-bedroom.
Guests in Lima mostly want privacy, safety, Wi-Fi and a walkable street, and they don't pay much extra for space they don't need.
What property type performs best?
A modern apartment in a secure building, rented as a whole unit.
Apartments get the steadiest bookings in Lima. Houses and unusual stays can charge good rates, but they are rarer, harder to manage and mostly outside the main tourist districts.
Modern apartments win because guests want security, an elevator, easy check-in, reliable Wi-Fi and a walk to the sights. Many are new: about 55,916 new apartments were for sale in Lima and Callao in August 2026, so you have choice and room to negotiate, but check that the building allows short stays before you sign with the developer.
Does Airbnb still beat a long-term lease in Lima?
Often not, in 2026. A one-bedroom in Miraflores asks a median S/ 2,590 ($755) a month on a long lease (October 2026), or S/ 31,080 ($9,050) a year, slightly more than the S/ 28,600 ($8,300) the average one-bedroom grossed on Airbnb.
After one month empty per year, the 5% tax and about S/ 350 ($100) a month in building costs, the long lease nets about S/ 22,870 ($6,650) a year, or about 3.9% on a $171,000 (about S/ 588,000) purchase. The Airbnb nets about 3.0% self-managed and 2.0% with a co-host.
To match the long lease at S/ 175 ($51) a night, you need about 56% occupancy if you manage it yourself and about 76% with a co-host. The Miraflores average is 50%.
Long-term rents are also rising: the Urbania index shows Lima rents up 7.3% over a year (July 2026), including 7.3% in Miraflores and 9.9% in San Isidro.
What to do: ask for both numbers before you buy. Check real Airbnb calendars in the building (AirROI or the Airbnb app) and real rental ads nearby, and only choose Airbnb if you will host yourself or can clearly beat the average.
70+pagesWhat changed for Airbnb hosts in Lima in 2026?
Politics: Keiko Fujimori won the June 7, 2026 runoff by fewer than 50,000 votes and took office on July 28, 2026, the ninth president in a decade. She has made crime and stability her priorities. Nothing has changed yet for Airbnb rules.
Security: the state of emergency in Lima and Callao over extortion has been extended several times, most recently for 60 more days from October 28, 2026 (Decreto Supremo 142-2026-PCM, published October 25). Guests read about it, so a safe building, a 24-hour doorman and clear safety information in your listing matter more than ever.
Foreign-guest registration: Migraciones requires hosts to check foreign guests' IDs and register their stay before arrival (page updated March 23, 2026). Build it into your check-in routine.
No Airbnb law yet: the REDAT tourist-home register is still only a bill. If it passes, expect a registration and safety rules, so keep your tax filings and building approval clean now.
Travel: the new Jorge Chávez airport terminal opened in June 2025, and Line 2 of the metro was 96% built on its stage 1B and 91% on stage 2 in August 2026 (OSITRAN), but stage 1B is only expected to open in 2029 and stage 2 in October 2030, so don't count on it for bookings yet.
The sol: it slipped about 1.8% against the dollar in the past month, to about 3.44 per dollar, but stays stronger than its 2025 average (3.56). Airbnb income in soles is now worth slightly less in dollars than a month ago, but more than in 2024-2025.
Our methodology
This article estimates what an Airbnb in Lima earns and costs, which rules apply to it, and which districts and apartment types make the most sense for a buyer who is not a professional host.
All Airbnb figures (nightly rate, occupancy, revenue, listing counts) come from one platform, AirROI, mostly for the 12 months to September 2026, so they can be compared. We matched them with asking prices from TuLugar (October 2026), asking rents from Ad Valorem (October 2026), the Urbania rent index (July 2026) and the BCRP's apartment price note (first quarter of 2026). Costs, net returns and break-even occupancy were calculated by script.
The rules come from official sources: SUNAT for the 5% rental tax and IGV, Migraciones for foreign-guest registration, MINCETUR for lodging rules, Ley 28976 for municipal licenses and the Peruvian Congress for the REDAT bill.
We checked these figures in October 2026. Sol amounts are converted at about 3.44 soles per US dollar (and 3.85 soles per euro), the SUNAT/SBS rate of October 22, 2026.
Where we had no direct figure, like building fees or cleaning costs, we used a stated assumption, and we removed older figures we could not trace to a source. Your own costs will depend on your building, your district, how you manage the apartment and how good your listing is.
Key sources used for this analysis include AirROI Peru and Lima data, AirROI Miraflores data, SUNAT on rental income tax, Migraciones on foreign-guest registration, MINCETUR's lodging regulation, Ley 28976, BCRP Nota de Estudios 51-2026, TuLugar Miraflores prices, Ad Valorem Miraflores rents and MINCETUR's 2026 tourism figures.
