Broken Bow's 3,200-listing STR market posts strong ADR growth even as occupancy normalizes from its 2021 peak.
Market Overview
Broken Bow, Oklahoma sits in the Ouachita Mountains of McCurtain County and draws roughly 1.3 million visitors annually to Beavers Bend State Park, Broken Bow Lake, and the Hochatown corridor. The short-term rental market here is large relative to a town of about 4,120 permanent residents: as of February 2026, 3,204 active listings compete for guests, up from 1,127 in 2021.
That rapid supply growth tells the dominant story of this market. Average daily rates have actually improved over the same period, rising from $374 in 2021 to $448 in 2025, suggesting continued pricing power among well-positioned properties. However, average occupancy has declined from 68.3% in 2021 to roughly 38.7% in 2025 as new listings absorbed demand. The market-wide average monthly revenue in 2025 was $5,274, compared to $9,339 at the 2021 peak.
The February 2026 snapshot shows 31% average occupancy, a $414.50 average daily rate, and $3,472 in average monthly revenue across all active listings. These figures reflect February’s status as the market’s softest month. The market remains one of the most visited STR destinations in the South-Central US, but investors entering today face a meaningfully more competitive supply environment than early entrants did.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue | Active Listings |
|---|---|---|---|---|
| Jan | 37% | $393 | $4,440 | 2,107 |
| Feb | 39% | $362 | $4,050 | 2,109 |
| Mar | 58% | $405 | $7,590 | 1,673 |
| Apr | 47% | $363 | $5,599 | 1,669 |
| May | 46% | $384 | $6,056 | 1,622 |
| Jun | 57% | $395 | $7,431 | 1,775 |
| Jul | 62% | $394 | $8,235 | 2,045 |
| Aug | 46% | $367 | $6,068 | 2,039 |
| Sep | 43% | $363 | $5,270 | 2,036 |
| Oct | 53% | $387 | $6,441 | 1,965 |
| Nov | 52% | $421 | $6,717 | 2,029 |
| Dec | 50% | $452 | $7,299 | 2,093 |
Broken Bow has two distinct peak seasons and two softer shoulder periods, with no truly dead month in the calendar.
Summer is the strongest window. July leads all months with 61.6% average occupancy and $8,235 in average monthly revenue. June follows at 57.4% occupancy and $7,431 in revenue. These two months together represent the highest-demand period, driven by lake activities, outdoor recreation, and school-year breaks.
Spring and late fall are secondary peaks. March posts the third-highest occupancy at 58.2% and $7,590 in average revenue, likely lifted by spring break travel and the Ouachita Mountains foliage transition. November (51.6%, $6,717) and December (50.2%, $7,299) benefit from holiday travel and the area’s reputation for fall foliage and cabin retreats. December’s average ADR of $452 is the highest of the year, indicating strong pricing power during the holidays.
The softest months are January through February and August through September. January averages 36.8% occupancy and $4,440 revenue. February is the weakest month at 38.8% occupancy and $4,050 revenue. August drops to 46.4% despite the summer calendar, and September falls to 43.2%, both likely reflecting post-summer slowdowns.
The ADR swing across the year is relatively modest ($362 in February to $452 in December, a 25% range), meaning operators cannot rely on rate increases alone to compensate for off-peak occupancy drops. Minimum-night policies and shoulder-season promotions matter considerably for annual revenue optimization.
Revenue Breakdown
| Metric | 25th Pctile | Median | 75th Pctile | 90th Pctile |
|---|---|---|---|---|
| Revenue/mo | $1,538 | $2,743 | $4,535 | $6,885 |
| ADR | $262 | $349 | $489 | $684 |
| Occupancy | 15% | 29% | 41% | 56% |
The February 2026 data reveals a wide performance spread across the 3,204 active Broken Bow listings.
The bottom quartile (P25) earned $1,538 or less that month. The median property (P50) brought in $2,743. The 75th percentile cleared $4,535, and the top 10% of listings (P90) reached $6,885.
ADR shows an equally wide spread: P25 properties charged $262 per night, the median was $349, P75 reached $489, and P90 operators averaged $684 per night. Occupancy at P90 was 56%, meaning top earners are not simply filling calendars at lower rates. They are achieving both higher rates and higher occupancy simultaneously.
For context, February is the market’s softest month. Full-year 2025 averages of $448 ADR and 38.7% occupancy across all listings imply an annual average revenue of approximately $5,274 per listing. Properties consistently operating at the 75th percentile or above can realistically target $55,000 to $80,000 or more in annual gross revenue.
Investment Analysis
Revenue Trend
RevPAR & ADR Trend
| Date | Revenue | RevPAR | ADR |
|---|---|---|---|
| Mar 2021 | $10,381 | $335 | $375 |
| Apr 2021 | $9,252 | $308 | $374 |
| May 2021 | $9,368 | $302 | $375 |
| Jun 2021 | $10,039 | $335 | $374 |
| Jul 2021 | $10,681 | $345 | $378 |
| Aug 2021 | $9,350 | $302 | $366 |
| Sep 2021 | $8,397 | $280 | $371 |
| Oct 2021 | $8,811 | $284 | $371 |
| Nov 2021 | $8,358 | $279 | $372 |
| Dec 2021 | $8,759 | $283 | $381 |
| Jan 2022 | $6,370 | $206 | $345 |
| Feb 2022 | $5,912 | $211 | $345 |
| Mar 2022 | $8,184 | $264 | $370 |
| Apr 2022 | $6,635 | $221 | $352 |
| May 2022 | $6,913 | $223 | $360 |
| Jun 2022 | $8,709 | $290 | $356 |
| Jul 2022 | $9,550 | $308 | $366 |
| Aug 2022 | $6,647 | $214 | $332 |
| Sep 2022 | $6,762 | $225 | $348 |
| Oct 2022 | $7,478 | $241 | $341 |
| Nov 2022 | $7,746 | $258 | $362 |
| Dec 2022 | $8,095 | $261 | $360 |
| Jan 2023 | $5,339 | $172 | $337 |
| Feb 2023 | $4,910 | $175 | $317 |
| Mar 2023 | $7,141 | $230 | $358 |
| Apr 2023 | $5,158 | $172 | $314 |
| May 2023 | $5,649 | $182 | $332 |
| Jun 2023 | $6,858 | $229 | $335 |
| Jul 2023 | $7,899 | $255 | $351 |
| Aug 2023 | $5,402 | $174 | $316 |
| Sep 2023 | $4,360 | $145 | $322 |
| Oct 2023 | $4,561 | $147 | $335 |
| Nov 2023 | $4,983 | $166 | $406 |
| Dec 2023 | $5,560 | $179 | $447 |
| Jan 2024 | $3,072 | $99 | $405 |
| Feb 2024 | $2,830 | $98 | $356 |
| Mar 2024 | $5,500 | $177 | $444 |
| Apr 2024 | $3,492 | $116 | $401 |
| May 2024 | $3,806 | $123 | $415 |
| Jun 2024 | $4,950 | $165 | $436 |
| Jul 2024 | $6,088 | $196 | $422 |
| Aug 2024 | $4,168 | $135 | $391 |
| Sep 2024 | $3,359 | $112 | $381 |
| Oct 2024 | $5,317 | $172 | $414 |
| Nov 2024 | $5,802 | $193 | $451 |
| Dec 2024 | $6,779 | $219 | $516 |
| Jan 2025 | $3,580 | $116 | $411 |
| Feb 2025 | $3,128 | $112 | $379 |
| Mar 2025 | $6,745 | $218 | $480 |
| Apr 2025 | $3,458 | $115 | $374 |
| May 2025 | $4,545 | $147 | $440 |
| Jun 2025 | $6,602 | $220 | $474 |
| Jul 2025 | $6,956 | $224 | $454 |
| Aug 2025 | $4,775 | $154 | $430 |
| Sep 2025 | $3,471 | $116 | $393 |
| Oct 2025 | $6,038 | $195 | $472 |
| Nov 2025 | $6,695 | $223 | $514 |
| Dec 2025 | $7,301 | $236 | $555 |
| Jan 2026 | $3,842 | $124 | $467 |
| Feb 2026 | $3,472 | $124 | $415 |
Occupancy vs Supply
| Date | Occupancy | Active Listings |
|---|---|---|
| Mar 2021 | 74% | 1,052 |
| Jun 2021 | 76% | 1,129 |
| Sep 2021 | 64% | 1,148 |
| Dec 2021 | 67% | 1,158 |
| Mar 2022 | 67% | 1,162 |
| Jun 2022 | 68% | 1,665 |
| Sep 2022 | 51% | 1,677 |
| Dec 2022 | 60% | 1,690 |
| Mar 2023 | 62% | 1,683 |
| Jun 2023 | 60% | 1,674 |
| Sep 2023 | 40% | 1,647 |
| Dec 2023 | 39% | 1,567 |
| Mar 2024 | 41% | 1,500 |
| Jun 2024 | 38% | 1,240 |
| Sep 2024 | 31% | 2,555 |
| Dec 2024 | 43% | 2,869 |
| Mar 2025 | 47% | 2,967 |
| Jun 2025 | 45% | 3,166 |
| Sep 2025 | 30% | 3,154 |
| Dec 2025 | 42% | 3,182 |
The investment case for Broken Bow hinges on property positioning within a bifurcated market. The revenue spread between percentiles is extremely wide, which means asset selection and management quality drive outcomes more than the market itself.
At the median (P50), a Broken Bow STR generated $2,743 in revenue during February 2026. At the 75th percentile, that figure was $4,535. Top-quartile performers (P90) reached $6,885 in that single month. On an annualized basis using 2025 full-year averages, median-performing properties generate roughly $63,000 per year, while top-quartile operators approach $80,000 or more.
With a typical Broken Bow home value of approximately $305,500, an investor purchasing at that price point at a 7% mortgage rate (30-year) faces a monthly PITI of roughly $2,100 to $2,400 depending on taxes and insurance. A median-performing property covering that carry requires consistent mid-market occupancy, which is achievable in peak months but tight in January and February.
Key risk factors: supply has nearly tripled since 2021, and occupancy has not recovered. Any investor underwriting to 2021 or 2022 occupancy rates will overpay. Underwrite to current 2025 averages (38.7% annual occupancy, $448 ADR) and stress-test to the P25 scenario ($1,538/month) for off-peak months. Properties in Hochatown with direct lake or forest access consistently outperform the market average.
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Start Free TrialHome Value Trends
| Date | Typical Home Value |
|---|---|
| Mar 2021 | $287,588 |
| Dec 2021 | $344,757 |
| Sep 2022 | $397,641 |
| Jun 2023 | $405,578 |
| Mar 2024 | $379,361 |
| Dec 2024 | $358,904 |
| Sep 2025 | $333,642 |
Booking Insights
As of February 2026, the average booking lead time in Broken Bow is 36.3 days, with a median of 27 days. This is a relatively short booking window, indicating that most guests do not plan far in advance. Roughly half of all bookings are made within 27 days of arrival.
Average length of stay is 2.7 nights, with a median of 2.0 nights. The typical Broken Bow booking is a two-night weekend trip. This is consistent with the market’s positioning as a drive-to leisure destination within reach of Dallas-Fort Worth, Oklahoma City, and Tulsa.
For operators, the short lead-time and short-stay profile has practical implications. A minimum two-night stay policy captures the typical booking without leaving excess availability. Releasing unsold dates at discounted rates within 7 to 14 days of arrival can materially lift occupancy without undermining published rates for advance bookings. Pricing tools that adjust nightly rates dynamically for the 7-21 day window are particularly effective in this market.
The short average stay also means higher turnover costs per occupied night. Cleaning fees should be priced to cover actual costs without deterring short stays, since the two-night booking is the market’s bread and butter.
Short-Term Rental Regulations
Broken Bow operates under a relatively light regulatory environment compared to many popular STR markets, but operators must track requirements across two distinct jurisdictions: the City of Broken Bow and the newly incorporated Town of Hochatown.
City of Broken Bow: The city has not enacted dedicated short-term rental ordinances. Standard business licensing applies, along with health, safety, and zoning requirements. All operators must collect and remit a 5% lodging tax monthly to the city. The McCurtain County Tourism Authority levies an additional 2% lodging tax on all short-term rentals in the county.
Town of Hochatown: Hochatown formally incorporated and now requires a short-term rental license. The license is reported to be straightforward to obtain. Effective October 1, 2024, Hochatown partnered with Granicus to operate a compliance portal with account logins, bulk tax remittance, and automated renewal reminders. A comprehensive portal upgrade was planned for 2025-2026.
All operators across both jurisdictions should: obtain a business license, carry liability insurance, install smoke detectors and fire extinguishers, brief guests on emergency evacuation procedures, and review any HOA covenants that may restrict rentals.
Total lodging tax exposure is 7% (5% city plus 2% county). Budget for this in your revenue projections. For current requirements, consult the Broken Bow municipal code at municode.com or the McCurtain County offices directly.
Market Comparison
Broken Bow is a high-density leisure STR market by small-town standards. Its 3,204 active listings serving a resident population of roughly 4,120 represents one of the highest listing-to-resident ratios in the South-Central region. For reference, the US STR market average occupancy in 2025 hovered near 50 to 55% for active leisure markets, making Broken Bow’s 38.7% full-year 2025 average below the national leisure benchmark.
However, the $448 ADR for 2025 is above average for rural mountain and lake markets in Oklahoma, Arkansas, and Missouri. The Ozarks lake markets in Missouri, for example, generally see ADRs in the $200 to $320 range. Broken Bow’s cabin and luxury lodge inventory commands a meaningful rate premium.
The market most resembles other drive-to mountain and lake cabin markets in the region, such as the Smoky Mountains (Tennessee/North Carolina) and Lake of the Ozarks (Missouri), though on a smaller absolute scale. Those markets also saw supply surges post-2020 followed by occupancy normalization. Broken Bow’s trajectory over 2021-2025 closely mirrors that broader national pattern: early movers captured exceptional returns, while later entrants are operating in a normalized, more competitive environment.
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