Port Townsend, WA

  • Overview
  • Performance
  • Listings
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Key Performance Metrics

Market snapshot

Performance indicators for the Port Townsend short-term rental market based on reliable data.

Listings

93 / 185

Reliable / Active

Cap Rate

6%

Middle-Earners Gross Yield

Revenue

$35,438

Middle-Earners Revenue

Occupancy

71%

Middle-Earners Occupancy

Home Value

$642,884

Median Home Sale Price

Top Earners

$69,750

Top-Earners Revenue

Port Townsend

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Port Townsend.

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C

Challenging to Investors

Port Townsend Regulations

While explicitly allowed citywide and countywide, Port Townsend STR regulations are challenging for investors due to high permitting costs (city major CUP ~$3,410+), complex multi-step processes requiring inspections, primary residence requirements, on-site owner presence mandates, and Jefferson County's 4% housing stock cap with waitlist when reached. The annual compliance burden including renewals and inspections further increases operational complexity and investment risk.

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About Port Townsend

Port Townsend is a small coastal city of approximately 10,000 residents in Jefferson County, Washington, perched at the northeastern tip of the Olympic Peninsula where the Strait of Juan de Fuca meets Admiralty Inlet. The town has a distinctly Victorian character, anchored by one of the largest collections of preserved 19th-century commercial buildings and homes in the Pacific Northwest, and it has long served as a hub for working artists, wooden-boat builders, and maritime enthusiasts. It is also widely recognized as a gateway to Olympic National Park and the broader Olympic Peninsula. From Seattle, Port Townsend lies about 60 miles to the northwest, reachable by a roughly 30-minute ferry crossing from the Bainbridge Island area, or by a longer drive of approximately two to two-and-a-half hours around the southern end of Puget Sound.

A short drive north of the downtown core brings visitors to Fort Worden State Park, a former U.S. Army coastal defense installation turned public park. The site offers more than two miles of saltwater beach, wooded hiking and biking trails, historic gun batteries, and a small museum inside one of the original officers' quarters. Fort Worden is also famously remembered as a filming location for "An Officer and a Gentleman" and today hosts concerts, workshops, and conferences in its many repurposed buildings.

Downtown Port Townsend itself is the heart of the visitor experience, with a walkable historic district of brick-fronted storefronts, antique shops, art galleries, and waterfront restaurants overlooking the harbor. Visitors can stroll past the restored 1891 Jefferson County Courthouse, catch a film or live performance at the century-old Rose Theatre, and watch wooden sailing vessels tied up at the marina. The compact core sits just a few blocks from the ferry terminal, making it easy to explore on foot even for day-trippers arriving without a car.

A little over an hour's drive southwest of Port Townsend lies the eastern entry to Olympic National Park, most often reached via the Hurricane Ridge Visitor Center, where alpine meadows and snowcapped peaks offer sweeping views of the Olympic Mountains. Day-trippers can also detour toward the Hood Canal and the park's rain-forest and Pacific coast sides, though those destinations generally require longer drives or an overnight.

Port Townsend's combination of preserved historic charm, walkable waterfront amenities, and proximity to both ferry connections and Olympic National Park makes it a particularly appealing base for short-term rental guests. Travelers can spend quiet mornings wandering Victorian streets, afternoons hiking bluff-side trails, and evenings dining on locally sourced seafood, all within a small, easily navigable town that consistently draws visitors year-round.

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