Cape Girardeau, Missouri Short-Term Rental Market
Cape Girardeau STRs averaged $153/night at 44.9% occupancy in April 2026, with revenue growing 3.2% year over year.
Quick Answer: Cape Girardeau, Missouri is an active short-term rental market. average occupancy is 54%. average monthly revenue is $2,721. average daily rate is $188. the top operator is Evolve with 161 listings. market score is 81/100 (grade B).
Market data reflects the Missouri Area regional market, which includes Cape Girardeau. Regulations, taxes, and permit details below are specific to Cape Girardeau.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Cape Girardeau is a mid-sized short-term rental market anchored by the Mississippi River waterfront, Southeast Missouri State University, and a regional drive-market tourism base. In April 2026, the market posted a $153 average daily rate and 44.9% occupancy, generating $68.90 in RevPAR and average monthly revenue of $1,879 per listing.
The market leans heavily toward entire-place rentals, with 5,697 of approximately 6,141 tracked listings in that category, 441 private rooms, and 3 shared rooms. By bedroom count, 1-bedroom units (2,201 listings) and 2-bedroom units (1,805) are the most common, followed by 3-bedroom (1,388), 4-bedroom (470), and 5-bedroom (259) properties. Airbnb-only listings number 3,388, with 2,355 listed on both Airbnb and VRBO and 398 on VRBO only.
Year-over-year trends through April 2026 show modest occupancy softness (down 0.30 percentage points) offset by ADR growth of 1.39% and total revenue growth of 3.19%. The overall market score of 81.4 and investability score of 92.4 are among the highest in this regional tier, reflecting strong income-to-price dynamics. Revenue growth scores at 63.9, consistent with steady rather than rapid expansion. Annual average revenue has improved from $1,931/month in 2023 to $2,043/month in 2024 and $2,104/month in 2025.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 35% | $113 | $1,251 |
| Feb | 43% | $116 | $1,239 |
| Mar | 48% | $132 | $1,641 |
| Apr | 45% | $137 | $1,653 |
| May | 48% | $150 | $1,872 |
| Jun | 53% | $169 | $2,410 |
| Jul | 55% | $168 | $2,601 |
| Aug | 48% | $165 | $2,251 |
| Sep | 44% | $160 | $1,972 |
| Oct | 47% | $156 | $2,062 |
| Nov | 46% | $140 | $1,808 |
| Dec | 40% | $129 | $1,530 |
Top Short-Term Rental Operators in Cape Girardeau
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 161 | 5,579 | ★ 4.80 |
| 2 | Innsbrook Vacations | 159 | 5,689 | ★ 4.80 |
| 3 | StayLage | 22 | 507 | ★ 4.73 |
| 4 | Hogan's Hideout | 16 | 385 | ★ 4.48 |
| 5 | Stark Property Management | 14 | 1,563 | ★ 4.96 |
What Kind of STR Should I Buy in Cape Girardeau?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,201 |
| 2 bed | 1,805 |
| 3 bed | 1,388 |
| 4 bed | 470 |
| 5 bed | 259 |
ADR by Property Tier
| Entire Home | $192 |
| Luxury | $377 |
| Professionally Managed | $316 |
Revenue by Dwelling Type
| Apartment | $1,790 |
| Entire Place | $2,825 |
| House | $3,082 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 55.2% |
| vrbo | 6.5% |
| both | 38.3% |
Investment Analysis
Cape Girardeau’s investability market score of 92.4 out of 100 is a standout signal. This reflects favorable entry price dynamics relative to achievable rental income, though no housing snapshot data was available in this dataset so a specific gross yield calculation cannot be provided.
Property type performance varies. Houses average $2,050/month and entire-place listings average $1,936/month, both meaningfully above apartments at $1,484/month. Professionally managed properties command a $243/night ADR, compared to the $153 market average, a premium of nearly 59%. This is an unusually wide gap, suggesting that revenue-optimized management adds substantial value in this market, likely because independent operators have not fully adopted dynamic pricing.
The luxury tier averages $321/night, more than double the market baseline. Revenue growth has been consistent: annual average monthly revenue climbed from $1,414 in 2019 to $2,135 in 2021, dipped to $1,931 in 2023, then recovered to $2,104 in 2025. The 2024-2025 trend shows renewed growth without the volatility of the 2021-2022 pandemic spike. YoY revenue growth of 3.19% as of April 2026 is positive while occupancy holds near 44.9%, implying rates are carrying the improvement rather than volume.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Cape Girardeau guests book an average of 40.8 days in advance and stay an average of 3.6 nights as of April 2026. The 41-day lead time is longer than the Canyon Lake market and suggests guests plan trips well in advance, likely around specific events such as university weekends, sports tournaments, or river festivals.
A 3.6-night average stay is consistent with a mix of extended weekends and midweek short trips. For operators, a 40-day booking window provides a meaningful pricing signal: if a property is not filling at 30 days out for a summer weekend, rate reduction is unlikely to convert holdouts who have already booked elsewhere. The optimal dynamic pricing adjustment window is approximately 45 to 60 days out, ahead of most guests’ booking decisions.
A 3-night minimum during peak summer weekends is well-aligned with observed booking behavior and would reduce calendar gaps without materially increasing vacancy.
Short-Term Rental Regulations
Cape Girardeau does not have a dedicated short-term-rental ordinance as of mid-2026. STRs operate under the city’s Residential Rental Licensing program (Chapter 15, Article XI), which requires rental dwellings to be registered and licensed and to pass minimum safety inspections covering smoke alarms, egress windows, plumbing, electrical, heating, and structural soundness. Operators are also expected to hold a city business license.
On the tax side, the city levies a 4% hotel/motel tax on stays under 31 days. Missouri state sales tax (approximately 7.5% effective rate on lodging) applies in addition, bringing the combined lodging tax burden to roughly 11-12% or higher depending on county levies. The 4% city tax was established in 2014 and is scheduled to sunset in 2030 or when associated bond obligations are paid.
No owner-occupancy requirement, primary-residence rule, or annual night cap has been published for Cape Girardeau. The permit cost is not publicly listed; investors should confirm current licensing fees directly with Development and Inspection Services at 573-339-6327. Enforcement operates through the rental-license and inspection regime rather than STR-targeted policing, rated as moderate. Because no dedicated STR ordinance exists, rules could be adopted in the future, which investors should treat as a regulatory risk factor.
Market Comparison
Cape Girardeau’s 44.9% occupancy in April 2026 is below the U.S. STR median of approximately 55%, reflecting its inland, drive-market character rather than a destination resort profile. The $153 ADR is also below the national median of roughly $220, consistent with a secondary Midwest city. However, the market’s revenue growth trend (up 3.2% YoY) outpaces many stagnant secondary markets.
The investability score of 92.4 is the most notable benchmark signal, suggesting the income-to-purchase-price ratio compares favorably against national peers even at lower absolute revenue figures. The market’s total score of 81.4 also ranks above average.
Professional management is concentrated at the top. Evolve leads with 161 listings and 5,579 reviews (4.80 rating). Innsbrook Vacations is a close second with 159 listings and 5,689 reviews (4.80 rating), the highest review count among local operators. StayLage (22 listings, 4.73 rating) and Stark Property Management (14 listings, 4.96 rating, highest rated in the top 5) round out the professional segment. The top 5 collectively manage 372 listings, about 6.1% of the market, indicating the vast majority of properties are independently operated.
Frequently Asked Questions About Cape Girardeau, Missouri
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Do I need a permit to operate a short-term rental in Cape Girardeau?
When is the peak season for Cape Girardeau short-term rentals?
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Why does Cape Girardeau have such a high investability score?
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