Cadillac, Michigan Short-Term Rental Market
Cadillac, MI STRs averaged $161/night at 49.2% occupancy in April 2026, driven by lakefront and outdoor recreation demand.
Quick Answer: Cadillac, Michigan is an active short-term rental market. average occupancy is 49%. average monthly revenue is $1,955. average daily rate is $161. the top operator is Evolve with 367 listings. market score is 80/100 (grade B).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Cadillac’s short-term rental market is anchored by two connected lakes within city limits and access to 200-plus miles of trails, drawing an estimated 1 million visitors annually to a city of about 10,500 residents. In April 2026, the market posted an average daily rate of $161 and occupancy of 49.2%, translating to a RevPAR of $79. Average monthly revenue across all listings was $1,955.
The market supports approximately 9,100 active listings across all bedroom configurations. Two- and three-bedroom properties each account for roughly 2,600 and 2,500 listings respectively, making mid-size units the dominant supply segment. One-bedroom units number around 2,250, four-bedroom units around 1,100, and five-plus-bedroom properties roughly 630.
Whole-place rentals dominate the listing mix with about 8,475 units (93% of supply), while private rooms account for around 651 listings. On the platform side, Airbnb carries approximately 4,192 listings, VRBO around 1,140, and about 3,798 properties appear on both platforms simultaneously, indicating broad dual-channel distribution.
On a year-over-year basis as of April 2026, occupancy dipped slightly by 0.21 percentage points and revenue slipped 2.2%, while ADR rose 3.1%. The market’s investability score of 97.3 out of 100 and revenue-growth score of 80.4 point to strong structural fundamentals despite near-term softness in demand-side metrics.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 39% | $144 | $1,620 |
| Feb | 44% | $145 | $1,640 |
| Mar | 44% | $136 | $1,696 |
| Apr | 48% | $143 | $1,717 |
| May | 52% | $168 | $1,965 |
| Jun | 62% | $209 | $3,096 |
| Jul | 71% | $218 | $4,112 |
| Aug | 64% | $214 | $3,776 |
| Sep | 46% | $187 | $2,375 |
| Oct | 45% | $164 | $2,115 |
| Nov | 42% | $148 | $1,769 |
| Dec | 45% | $150 | $1,815 |
Top Short-Term Rental Operators in Cadillac
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 367 | 11,455 | ★ 4.68 |
| 2 | Freshwater Vacation Rentals | 61 | 2,578 | ★ 4.85 |
| 3 | LiveSuites | 59 | 1,209 | ★ 4.67 |
| 4 | Short Term Rentals | 31 | 2,493 | ★ 4.68 |
| 5 | Simple Lyfe Stays | 29 | 2,365 | ★ 4.85 |
What Kind of STR Should I Buy in Cadillac?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,252 |
| 2 bed | 2,623 |
| 3 bed | 2,498 |
| 4 bed | 1,102 |
| 5 bed | 630 |
ADR by Property Tier
| Entire Home | $173 |
| Luxury | $335 |
| Professionally Managed | $179 |
Revenue by Dwelling Type
| Apartment | $1,520 |
| Entire Place | $2,059 |
| House | $2,081 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 45.9% |
| vrbo | 12.5% |
| both | 41.6% |
Investment Analysis
Cadillac’s investability score of 97.3 (out of 100) is among the highest possible readings, reflecting the combination of a high-volume visitor draw, diverse seasonal demand, and relatively accessible entry conditions. The market’s revenue-growth score of 80.4 reinforces that operator revenue has trended positively across the historical period.
In April 2026, average monthly revenue across all listing types was $1,955. Entire-place listings earned $2,059 on average, and houses specifically averaged $2,081, both outperforming the market aggregate. Apartment-style rentals lagged at $1,520. Professionally managed properties commanded an ADR of $179 versus the all-listings average of $161, and luxury-tier listings reached $335 per night, indicating clear upside for well-positioned properties.
The 2025 annual average revenue of $2,743 per month (across all listing types, all months) represents a meaningful step up from $2,483 in 2023 and $2,583 in 2024, suggesting recovery in the revenue trajectory before the slight April 2026 YoY dip. On an annualized basis, a listing earning near the April 2026 monthly average of $1,955 would generate approximately $23,500 per year. No home value data is available in the current dataset, so gross yield cannot be calculated; investors should source current Wexford County sale comps independently.
The regulation score of 65.7 reflects real zoning constraints: STRs are restricted to specific commercial and tourist-service districts, which limits supply growth in residential areas and serves as a de facto barrier to entry for new operators.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Cadillac guests book an average of 41 days in advance and stay an average of 4.2 nights. The 41-day lead time is meaningful for a leisure-driven market: it suggests guests are planning trips roughly six weeks out, which gives operators a reasonable window to adjust pricing before arrival without the pressure of last-minute rate decisions on every booking.
A 4.2-night average length of stay positions Cadillac at a mid-range between weekend-trip markets (2 to 3 nights) and extended-stay destinations (7-plus nights). This length is consistent with regional drive-market behavior where guests from Michigan and the upper Midwest arrive for a long-weekend or abbreviated week-long stay around a lake visit or outdoor activity.
For operators, the combination of moderate lead time and mid-length stays suggests a pricing strategy that sets rates firm at 45-plus days out (capturing early planners at full rates), with dynamic adjustment inside 14 days to fill remaining gaps. Turnover frequency, at roughly 4-night average stays, is moderate and supports manageable cleaning logistics relative to a pure weekend market.
Short-Term Rental Regulations
Cadillac does not permit short-term rentals citywide. STRs are allowed only in specific commercial and tourist-service zoning districts. By-right permission exists in the Tourist Service districts (TS-1 and TS-2) and the B-1 Auxiliary Business district. In the B-2 Central Business district, STRs require Special Land Use approval from the Planning Commission. Following a 2024 amendment, the B-3 General Business district was added to the list of zones where STRs may be approved by special land use, expanding potential along the downtown Mitchell Street corridor.
All rental units must register with the city for a Registered Rental Certificate and pass inspection. Operating standards include timely management response, a ban on gatherings of non-registered occupants, no lawn parking, and an occupancy cap of two renters per bedroom, with defined grounds for permit revocation. Owner-occupancy and primary-residence requirements are not in place. There is no annual night cap.
Michigan collects a 6% state use (lodging) tax on stays under 30 days, which Airbnb remits automatically on behalf of hosts. No separate Cadillac or Wexford County local lodging tax was identified in the profile data. Permit cost data is not published in the current dataset.
Enforcement is rated moderate. The 2024 expansion of STR-eligible districts and an in-progress comprehensive zoning rewrite suggest the regulatory framework is evolving; investors should verify current zoning eligibility for any specific property before purchase.
Market Comparison
At 49.2% occupancy and $161 ADR in April 2026, Cadillac tracks below national STR benchmarks but operates in a distinct seasonal segment. The U.S. national median STR occupancy is approximately 55% and median ADR approximately $220. Cadillac’s occupancy gap reflects the pronounced seasonality of a northern Michigan outdoor-recreation destination, where winter months pull the annual average down despite a strong July peak of 71.1%.
Evolve leads the Cadillac market with 367 managed listings and 11,455 reviews at a 4.68 average rating, representing roughly 4% of total supply. Freshwater Vacation Rentals holds a strong regional position with 61 listings and a 4.85 average rating, while LiveSuites operates 59 listings at a 4.67 rating. The remaining top operators, Short Term Rentals (31 listings, 4.68 rating) and Simple Lyfe Stays (29 listings, 4.85 rating), are smaller but well-reviewed.
The professional management concentration is relatively low: the top 5 operators control approximately 547 of roughly 9,100 total listings, or about 6% of supply. This suggests most properties are self-managed, which is common in regional lake and trail markets where local operators have strong location knowledge. The market’s total score of 79.7 and investability score of 97.3 place it competitively among Midwest seasonal lake markets.
Frequently Asked Questions About Cadillac, Michigan
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