PHILADELPHIA — The cheapest luxury vacation rentals in Philadelphia are among the priciest to buy, according to a study released Thursday by Accenture and the real estate firm KPMG.
The report, which examined prices for more than 200 luxury vacation properties, ranked Philadelphia’s most affordable rentals, including private cabins, villas and apartments, by average daily income.
Among the top-rated properties, which include four-star hotels, one-star and two-star properties, are luxury apartments for $3,500 to $8,500 a night and one- and two, three- and four-bedroom condos for $10,000 to $25,000.
In Philadelphia, the average annual income of the most popular luxury vacation apartments is $5,902 a year.
For luxury vacation renters, the median daily income was $1,942, and the median income per day was $2,933.
In New York City, the most affordable luxury vacation homes in the city were in the Central Park neighborhood in the Upper West Side, and in Brooklyn, the luxury vacation neighborhoods of Westchester and the Queens neighborhoods of Crown Heights and Bedford-Stuyvesant.
The study did not include luxury properties owned by major corporations.
It did, however, look at the income of all the properties, including vacation rentals owned by individuals and for businesses.
The average income per month for a luxury vacation was $869, the study found.
Some of the pricier properties included three-star luxury cabins with a combined daily income of $6,732 a day.
Among the lowest-priced luxury cabin apartments, which included four- and five-star villas for $5 to $10 a night, the highest-priced were the three-bedroom, two- and three-bathroom condos.
For a typical vacation, the typical luxury vacationer would have to pay $14,000 a year to rent a three- or four-bedroom villa, or $27,000 for a four- or five-bedroom condo, according the study.
For comparison, a three or four bedroom apartment in the same city could rent for $4,500 or $8 million, according KPMg.