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How Much Does It Cost to Rent a Mansion?

A mansion is a grand, exciting location for just about any event. It’s the perfect choice for a formal black-tie gathering, of course. But you can also take things in a more subversive direction: a mansion can be an equally appealing space for something like a cool party where the contrast of the traditional, even old-fashioned feel of the home — with the decor, music, and overall vibe of the party — can make for a truly memorable event. Whatever you’re planning, mansions are just about the most quintessentially stately and elegant location you could possibly choose. 

All that elegance can come at a cost. With all their associations with wealth and opulence, it’s no surprise that mansions tend not to be the most budget-friendly venue option by a long shot. If you’re reading this article, you’re likely wondering: “Exactly how much does it cost to rent a mansion?” This will, of course, vary — one of the fabulous things about these kinds of historic homes is that they’re all so different, so nothing can be generalized across the board. But this article will help you get a sense of whether or not renting a mansion is accessible within your budget, and how much you can expect to pay on average. We’ll also recommend the best way to find mansions available for rent in your city.

How much does it cost to rent a mansion?

As we mentioned above, this cost will vary enormously — just as mansions themselves vary quite a bit, each with their own unique character. A big factor in this is also where you’re looking to rent. The rental cost will typically mirror the overall cost of living in the city where the property is located. If you’re in an affordable city, you won’t have to shell out the same amount of money as that of someone in New York City, Los Angeles, or San Francisco.

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Another factor that causes the cost to vary is whether or not the home is officially designated as historic; the most prominent such programs include the National Historic Landmarks (NHL) program and the National Register for Historic Places (NR). These indicate that a home is particularly special, to the point that it’s considered worthy of preservation.

And, very simply, the overall scale of the home will make a significant difference in the cost. That’s not to mention other features like swimming pools, water features, gardens, acreage, etc. that will also drive up the rental value. And, of course, your price will vary by how long you’re planning to rent the space.

But we’ll do our best to give a rough estimate on properties in a few cities throughout the country. In and around New York City, prices for a mansion rental vary from as low as about $250 per hour to as high as $600 per hour or more.

In Chicago, you’ll find mansions ranging from just $100 per hour to $500 hourly. And, in Los Angeles, you’ll find prices as high as $1200 per hour for some massive estates, as well as $200 hourly on the low end.

In the country’s most prominent and highly populated cities, a fair average/estimate for mansions in general would be about be about $500 per hour, which adds up to about $3,000 for six hours.

And by the way: when you’re estimating how long your rental period will need to be, don’t forget to factor in the time it’ll take to set up, as well as to clean and pack everything up — that’s the only way to make an accurate assessment.

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The best way to find the right mansion to rent

A great way to get a sense of how much it costs to rent a mansion is by searching for mansions in your city on Peerspace. This will provide you with a sample of local options that’s more specific and representative than anything an article like this could provide. 

And when you’re ready to actually go ahead and rent a mansion for your event, Peerspace can help you choose the right space. It’s the largest marketplace on the internet for meeting and event spaces, so your selection should be quite broad. In addition to in-depth descriptions of the homes and their amenities, high-quality photos and reviews from past renters are just a click away.

This way, you’ll know what you’re getting into before you see the place. A big help as you plan your event is Peerspace’s Concierge team, which can help you navigate many of the often stressful logistical details of event planning: catering, furniture, A/V rentals, and so forth.

Now that you have a general idea of how much it costs to rent a mansion, as well as a great resource for locating the mansion that’s right for your next event, it’s time to get to searching!

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