Summary
Yes, but mostly in a few places: the average Peru Airbnb grossed about $5,300 (about S/ 18,000) over the 12 months to September 2026 (AirROI), and after costs the apartments we modeled net only about 1% to 4% a year on their price.
Short-term renting is legal everywhere in Peru: there is no national Airbnb law, no minimum stay and no cap on nights, but you pay 5% of gross rent to SUNAT and must register foreign guests with Migraciones.
The tax office is watching: in May 2026 SUNAT said it was going after more than 34,000 owners who rented through platforms like Airbnb in 2023 without paying tax.
The national average listing charges $73 a night and is booked 32% of the time; Lima does better (36%, $6,560 a year), Cusco is cheaper per night but busier ($45, 38%), and Arequipa is weaker ($42, 31%).
Seasons move the numbers less than people think: Miraflores occupancy ranged from 43.9% to 57.6% month to month, and Cayma in Arequipa from 34.2% to 45.9%.
Running costs take about 39% of gross revenue on a self-managed Miraflores one-bedroom and about 55% on a Cayma one-bedroom, because fixed costs weigh more on smaller revenue; a co-host at 20% adds another 20 points.
Competition is growing fast outside Lima: Arequipa's central district doubled its listings in a year (+101.4% to July 2026), and Cayma and Yanahuara grew 46% and 35%.
The one-bedroom is the safest bet: in Miraflores it earns S/ 28,600 ($8,300) a year, the same as a two-bedroom that costs $66,000 more.
A long lease often wins: in Miraflores it nets about 3.9% against 3.0% for a self-managed Airbnb, and in Cayma about 2.6% against 1.9%.
Cusco is the exception: long-term rents there are low (S/ 750 ($220) a month for a central one-bedroom on Numbeo), so an average Cusco Airbnb grosses about twice what a lease brings.
New in 2026: President Keiko Fujimori in office since July 28, an extended state of emergency in Lima, the Chinchero airport near Cusco running late, and the Lima 2027 Pan American Games (July 23 to August 8, 2027) ahead.
Our take: an Airbnb in Peru makes sense if you host a one-bedroom yourself, in Miraflores or central Cusco, in a building that allows short stays; elsewhere, run the long-lease numbers first.
Is Airbnb legal in Peru, and what rules apply?
Is short-term renting allowed in Peru?
Yes. In October 2026, you can rent an apartment, a house or a beach home short-term anywhere in Peru, as long as you follow the tax rules, your building's rules and, if it starts to look like a hotel, the lodging rules.
Peru has no Airbnb law. A bill to create a register of tourist homes (REDAT) passed a congressional committee in December 2024 but has not become law. The rules come from SUNAT, from MINCETUR's lodging regulation and from each district's licensing rules.
For an ordinary host, two things matter most: declaring the income to SUNAT (5% of gross rent) and checking that your building does not ban tourist stays.
If you ignore the rules, the usual risk is not a ban but back taxes, district fines, neighbor complaints or the building forcing you to stop.
Are there minimum-stay rules or caps on nights per year for Airbnbs?
No. Peru has no national minimum stay and no cap on the number of nights you can rent per year: no 90-night rule, no primary-residence rule, and nothing that changes for foreign owners.
Your building, homeowners' association or district can still set practical limits, so read the building rulebook (reglamento interno) before you buy.
Many hosts set a 2-night or 3-night minimum anyway, because cleaning and check-in costs make 1-night stays hardly worth it. In Cusco, the average cleaning fee charged to guests is only about $12 (about S/ 41) per stay (AirROI), so short stays there pay little.
Do I have to live there, or can I Airbnb a second home?
You don't have to live in the property. A second home or an investment apartment can be rented on Airbnb if you declare the income, follow the building rules and don't run it like an unlicensed hotel.
Living abroad does not change the rate: non-residents also pay 5% of gross rent. You need a RUC (tax number) to declare it.
The line to watch is services: breakfast, daily cleaning, a reception or several units run as one operation can make SUNAT treat it as a business, with 18% IGV and business income tax instead of the simple 5%.
Can I run multiple Airbnbs under one name?
Yes. There is no national limit on how many listings one person or company can run.
But with several units, you start to look like a lodging business: expect to need proper SUNAT registration, invoices, a municipal operating license and, if you run it like an aparthotel, MINCETUR lodging registration.
SUNAT is also matching platform data with tax returns (see below), so several listings under one name with no declared income is exactly what gets flagged.
Do I need a short-term rental license or a business registration to host?
One apartment rented by an individual needs no special Airbnb license, but you must declare the income with a RUC.
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). It applies to Airbnb bookings and to ordinary leases with foreign tenants.
If the activity becomes commercial lodging, you apply for an operating license at the district municipality. The file, the cost and the delay depend on the district: Miraflores, Barranco, Cusco or Cayma each set their own procedure and fees, so budget for fees and some professional help.
Are there neighborhood bans or restricted zones for Airbnb?
No. Peru has no list of neighborhoods where Airbnb is banned, and you will find active listings in Miraflores, Barranco, San Isidro, central Cusco, San Blas, Cayma, Yanahuara, Paracas and Máncora.
The tightest limits come from buildings, not from the law: in the best spots of Miraflores, San Isidro or central Cusco, owners often vote against tourist stays because they want quiet and tight security. Ask for the rulebook and the latest meeting minutes before you sign.
One rule that does affect foreigners: you cannot buy within 50 km of a border (Tumbes, parts of Puno and Tacna, Madre de Dios), which rules out some beach and lake areas, so check the exact location. Lima, Cusco and Arequipa are not affected.
Starting a Rental in Peru
How much does an Airbnb in Peru really earn?
What's the average nightly price on Airbnb in Peru?
Over the 12 months to September 2026, the average Airbnb listing in Peru charged about $73 (about S/ 250) a night, according to AirROI. Lima averages the same $73, Cusco $45 and Arequipa $42.
The Lima average is pulled up by beach houses and big homes in the wider metro area. In Miraflores, the average is S/ 217 ($63), and a one-bedroom there averages S/ 175 ($51).
AirROI does not publish a median nightly rate for Peru, so we don't give one.
The biggest pricing factor is the exact location: guests pay more for a safe, walkable street near restaurants, the coast, the business district or Cusco's historic center.
How much do nightly prices vary by city and neighborhood?
In Lima, Miraflores is clearly the most expensive district at S/ 217 ($63) a night, followed by San Isidro at $58 (about S/ 200) and Barranco at $49 (about S/ 170).
In Arequipa, Cayma averages S/ 154 ($45) a night and Yanahuara S/ 135 ($39). A one-bedroom costs about S/ 125 ($36) in both.
In Cusco, the district average is $45 (about S/ 155), because many listings are rooms and small studios aimed at backpackers and trekkers. Well-placed entire homes in San Blas or near the Plaza de Armas charge more, but AirROI does not split them out.
So the gap between Peru's top and cheaper markets is smaller than "$30 to $100" ranges suggest: most of the difference comes from the type of listing, not only the district.
What's the typical occupancy rate?
The average Peru listing was booked 32% of the time over the 12 months to September 2026 (AirROI).
Cusco does better at 38% and Lima at 36%, while Arequipa sits at 31%. Inside Lima, the tourist districts reach 43% to 45.9% (San Isidro, Barranco, Miraflores).
That is lower than the 40% to 50% often quoted for Peru. Plan around 35% to 40% for a decent apartment in a good district, and treat 50% as what a good one-bedroom in Miraflores achieves, not as the norm.
| Market (AirROI, 12 months to Sept. 2026) | Active listings | Average nightly rate | Occupancy | Revenue per listing per year |
|---|---|---|---|---|
| Peru | 33,300 | $73 | 32% | $5,300 |
| Lima metro area | 9,870 | $73 | 36% | $6,560 |
| Miraflores (Lima) | 356 | S/ 217 ($63) | 45.9% | S/ 29,646 ($8,620) |
| Cusco (district) | 1,800 | $45 | 38% | $5,200 |
| Arequipa | 1,070 | $42 | 31% | S/ 10,345 ($3,010) |
| Cayma (Arequipa) | 181 | S/ 154 ($45) | 35.6% | S/ 12,592 ($3,660) |
What's the average monthly revenue per listing?
The average Peru listing grossed about $5,300 a year over the 12 months to September 2026, or about S/ 1,519 (about $440) a month (AirROI).
By city: Lima about S/ 1,880 ($545) a month, Cusco about S/ 1,491 (about $435), Arequipa about S/ 862 (about $250). In Miraflores, the average is about S/ 2,470 ($720) a month.
These averages include listings that were open only part of the year. A listing open all year at Peru's average rate and occupancy ($73 at 32%) would gross about $8,526 (about S/ 29,500), so a well-run full-time listing can beat the averages.
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). For a listing open all month, that is about S/ 2,500 ($725) in the weakest month and about S/ 4,000 ($1,150) in the best.
In Cayma (Arequipa), occupancy went from 34.2% (April 2026) to 45.9% (August 2026) and nightly rates from S/ 142 ($41) to S/ 173 ($50). For a listing open all month, that is about S/ 1,510 ($440) in the weakest month (March 2026) and S/ 2,245 ($655) in the best (August 2026).
Cusco and the Sacred Valley peak from June to August (dry season, Inti Raymi on June 24 and the busiest months for Machu Picchu), and the rainy months from January to March are the weakest. AirROI does not publish monthly figures for Cusco that we could check, so we give no numbers.
Beach towns like Máncora, Punta Sal and Paracas are the most seasonal: summer (December to March), New Year and Easter week carry most of the year.
What's a realistic Airbnb monthly expense range?
On a Miraflores one-bedroom grossing S/ 28,600 ($8,300) a year, we estimate running costs at about S/ 922 ($270) a month if you manage it yourself and about S/ 1,399 ($405) with a co-host at 20%.
On a Cayma one-bedroom in Arequipa grossing S/ 13,700 ($4,000) a year, it is about S/ 624 ($180) a month self-managed and S/ 852 ($250) with a co-host.
That includes Airbnb's fee (3% with split fees, or 15.5% on host-only fees), the 5% rental tax, cleaning and laundry (we assume 8% of revenue), utilities and internet (5%), a furniture 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.
Costs take about 39% of gross revenue in Miraflores and 55% in Cayma when you self-manage, because the fixed costs weigh more on a smaller income. With a co-host, add 20 points.
What's realistic monthly net profit and profit per available night for Airbnb?
On the Miraflores one-bedroom, net profit is about S/ 1,461 ($425) a month self-managed and S/ 985 ($285) with a co-host, before any mortgage. Per available night, that is about S/ 48 ($14) and S/ 32 ($9).
Against the median one-bedroom asking price in Miraflores, $171,000 (about S/ 588,000) on TuLugar, that is a net return of about 3.0% self-managed and 2.0% with a co-host.
In Cayma, net profit is about S/ 518 ($150) a month self-managed and S/ 289 ($84) with a co-host. Against a median one-bedroom asking price of $96,000 (about S/ 330,000) (TuLugar, October 2026, small sample), that is about 1.9% and 1.0%.
Both figures are before buying costs (about 3% to 4% of the price on a resale). Covering the fixed costs is easy, at roughly 12% to 16% occupancy. Earning a good return is the hard part.
70+pagesHow crowded is the Peru Airbnb market?
How many active Airbnb listings are in Peru?
AirROI counts about 33,300 active listings in Peru over the 12 months to September 2026: about 9,870 in the Lima metro area, 1,800 in the Cusco district and 1,070 in Arequipa.
Supply is growing fastest outside Lima. In Arequipa's central district, active listings roughly doubled (+101.4%) in the 12 months to July 2026; Cayma grew 46% and Yanahuara 35% in the year to September 2026.
Other data providers give different counts because they define "active" and city limits differently, so compare figures from one source only.
Which neighborhoods are most saturated?
In Lima, Barranco (473 listings), Miraflores (356) and San Isidro (291) are the most crowded. In Cusco, most listings sit in the historic center, San Blas and around the main avenues toward Wanchaq.
These areas are crowded because guests understand them at once: the coast, restaurants and nightlife in Lima; walking distance to tours and sights in Cusco.
Arequipa is the one to watch: Cayma and Yanahuara are adding listings by 35% to 46% a year while occupancy stays around 34% to 36%. More supply with flat demand usually means lower prices per night.
Quieter options exist in Magdalena, Pueblo Libre and Surco in Lima, or Urubamba and Ollantaytambo in the Sacred Valley, but fewer listings often also means fewer guests.
What local events spike demand?
The big ones: Virgen de la Candelaria in Puno (February), Inti Raymi and the Fiestas del Cusco (June, with Inti Raymi on June 24), Fiestas Patrias across the country (July 28 and 29), Señor de los Milagros in Lima (October), plus concerts, football and food festivals in Lima.
In Miraflores, the average nightly rate went from S/ 190 ($55) in its weakest month to S/ 239 ($69) in July and August 2026, about 26% higher. Single event weekends can go well above that.
Next on the calendar: Lima hosts the Pan American Games from July 23 to August 8, 2027. Set your prices for that 6 to 12 months ahead, and for Inti Raymi at least 3 to 4 months ahead.
What occupancy differences exist between top and average hosts?
AirROI does not publish a top-host occupancy figure for Peru that we could check, so we don't give one.
What we can say: the average Peru listing is booked 32% of the time, the average Miraflores one-bedroom 50%, and even in Miraflores's best month (June 2026) the average was 57.6%. 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 smooth out cleaning and check-in.
Which price points are most crowded, and where's the "white space" for new hosts?
The crowded middle is the one-bedroom at about S/ 125 to S/ 175 a night: around S/ 175 ($51) in Miraflores and S/ 125 ($36) in Cayma and Yanahuara.
Two bedrooms are not automatically the gap: in Miraflores they earn about the same per year as one-bedrooms (S/ 28,400 ($8,250) vs S/ 28,600 ($8,300)). In Arequipa they do better: S/ 15,900 ($4,600) vs S/ 13,700 ($4,000) in Cayma and S/ 13,600 ($3,950) vs S/ 9,790 ($2,850) in Yanahuara.
The real white space is quality: fast Wi-Fi and a proper desk for remote workers, heating in Cusco and Arequipa nights, good ventilation on the coast, self check-in and a secure building.
70+pagesWhat property works best for Airbnb demand in Peru right now?
What bedroom count gets the most bookings?
The one-bedroom, in most markets. In Miraflores it is booked 50% of the time, against 44% for a two-bedroom, and it costs much less: a median $171,000 (about S/ 588,000) against $237,000 (about S/ 815,000).
Arequipa is a partial exception: in Cayma both sizes are booked 39% of the time and in Yanahuara the two-bedroom does better (39% vs 35%), because more guests travel as families or groups. But a Cayma two-bedroom asks about $131,000 (about S/ 450,000), 36% more than a one-bedroom, for 16% more revenue.
Across Peru, the main guests are couples, solo travelers, remote workers and business visitors who want a simple, safe base.
What property type performs best?
A modern apartment in a secure, walkable district, rented as a whole unit. Guests value security, an elevator, reliable Wi-Fi, easy check-in and a clear location more than unusual features.
Beach houses and Sacred Valley homes can charge much more per night, but they are seasonal and hard to run from abroad. Land is cheap in the Sacred Valley (about $149 (about S/ 515) per m² for residential lots in Urubamba, TuLugar October 2026, only 8 listings), but building and running a rental there is a project, not a passive investment.
In Lima, you have plenty of choice: about 55,916 new apartments were for sale in Lima and Callao in August 2026 (CODIP). Check that the building allows short stays before you sign with the developer.
Does Airbnb beat a long-term lease in Lima, Cusco or Arequipa?
It depends on the city, and the answer is not the one most people expect.
In Lima, usually not: a Miraflores one-bedroom asks a median S/ 2,590 ($755) a month on a long lease (Ad Valorem, October 2026). After one empty month, the 5% tax and S/ 350 ($100) a month of building costs, it nets about 3.9% a year, against 3.0% for a self-managed Airbnb. To match the lease, the Airbnb needs about 56% occupancy self-managed and 76% with a co-host.
In Arequipa, not on average: a central one-bedroom rents for about S/ 1,218 ($355) a month (Numbeo, crowdsourced), which nets about 2.6% in Cayma against 1.9% for the average Airbnb one-bedroom. A full-time, well-run listing at Cayma's rate would need about 36% occupancy to match the lease; the Cayma one-bedroom average is 39%, so it is close.
In Cusco, yes: long-term rents are low (S/ 750 ($220) a month for a central one-bedroom on Numbeo), while the average Cusco listing grosses about S/ 17,888 ($5,200) a year. On a 50 m² apartment at Cusco's thin asking price of about $1,425 (about S/ 4,900) per m² (only four listings on TuLugar), that is roughly 3.8% net self-managed against about 1.5% for a lease. Treat it as a rough guide: the Cusco average includes rooms and small studios.
| Example | Airbnb gross per year | Airbnb net, self-managed | Airbnb net, co-host at 20% | Long lease net |
|---|---|---|---|---|
| Miraflores one-bedroom, $171,000 | S/ 28,600 | 3.0% | 2.0% | 3.9% |
| Cayma one-bedroom, $96,000 | S/ 13,700 | 1.9% | 1.0% | 2.6% |
| Cusco 50 m² apartment, about $71,250 | S/ 17,888 | 3.8% | 2.4% | 1.5% |
What to do: before you buy, get both numbers for the exact building. Look at real Airbnb calendars nearby (AirROI or the Airbnb app) and real rental ads, and only pick Airbnb if you will host yourself or can clearly beat the local average.
70+pagesWhat changed for Airbnb hosts in Peru in 2026?
Tax checks: in May 2026, SUNAT said it was investigating more than 34,000 owners who rented through digital platforms like Airbnb in 2023 and did not declare the income. If you host, get a RUC and declare from the first booking.
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 put crime and stability first. 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 (DS 142-2026-PCM). 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.
Cusco access: the new Chinchero airport was due in December 2026, but the builder has asked for 712 more days, a request the Contraloría called unjustified in May 2026. Don't pay a premium in the Sacred Valley for an airport that may not open before 2028.
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 worth slightly less in dollars than a month ago, but more than in 2024 and 2025.
Our methodology
This article estimates what an Airbnb in Peru earns and costs, which rules apply, and how Lima, Cusco and Arequipa compare 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 TuLugar asking prices (October 2026), Ad Valorem asking rents for Lima (October 2026) and Numbeo rents for Cusco and Arequipa (crowdsourced). Costs and net returns 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, cleaning costs or Cusco apartment prices, we used a stated assumption or a thin sample and say so, 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 place and how good your listing is.
Key sources used for this analysis include AirROI Peru data, AirROI Miraflores, AirROI Cayma, SUNAT on rental income tax, SUNAT on non-resident landlords, Migraciones on foreign-guest registration, MINCETUR’s lodging regulation, Gestión on SUNAT’s platform checks, TuLugar’s Peru market report and MINCETUR’s 2026 tourism figures.
