Lehi, Utah Short-Term Rental Market
Lehi, UT STRs averaged $161/night at 64.4% occupancy in April 2026, with revenue up 11.3% year-over-year.
Quick Answer: Lehi, Utah is an active short-term rental market. average occupancy is 75%. average monthly revenue is $3,765. average daily rate is $184. the top operator is Carole Andersen with 47 listings. market score is 84/100 (grade B).
Market data reflects the Provo/Orem regional market, which includes Lehi. Regulations, taxes, and permit details below are specific to Lehi.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Lehi is a fast-growing Utah County city in the Silicon Slopes tech corridor between Salt Lake City and Provo. Its STR market is anchored by Thanksgiving Point, a 55-acre complex drawing approximately 2.8 million visitors per year, along with business travel associated with major tech employers including Adobe, Micron, and IM Flash. Outdoor recreation, outlet shopping at Traverse Mountain, and proximity to both metros supplement year-round demand.
In April 2026, the market recorded an average daily rate of $161.08 and occupancy of 64.4%, producing RevPAR of $103.67. Average monthly revenue per active listing was $2,710. Year-over-year, ADR increased 6.2%, revenue grew 11.3%, and occupancy was essentially flat (-0.4%), indicating that rate-driven growth is the primary dynamic.
The listing mix is predominantly entire-home properties (1,911 units), with private rooms at 348 units and shared rooms at 8. Bedroom distribution is led by 1-bedroom (697 units), 3-bedroom (525), and 2-bedroom (491). Four- and five-bedroom properties represent 275 and 278 units respectively.
Airbnb is the dominant channel (1,307 units), with a notable cross-listed segment (880 units on both platforms) and a smaller VRBO-only pool (80 units).
Market scores reflect a high-performing but regulated environment: total score 83.73 out of 100, rental demand 85.64, revenue growth 84.35, and seasonality 94.36. The investability score of 57.49 is pulled lower by the regulation score of 51.63, which reflects Lehi’s strict owner-occupancy and primary-residence requirement. The city’s STR rules effectively limit the market to owner-occupants rather than conventional investment buyers, which is a central factor for anyone evaluating this market.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 54% | $124 | $1,958 |
| Feb | 63% | $126 | $2,053 |
| Mar | 66% | $127 | $2,340 |
| Apr | 63% | $122 | $2,035 |
| May | 61% | $126 | $2,147 |
| Jun | 73% | $145 | $2,793 |
| Jul | 75% | $146 | $2,981 |
| Aug | 71% | $139 | $2,773 |
| Sep | 63% | $130 | $2,208 |
| Oct | 62% | $132 | $2,304 |
| Nov | 57% | $124 | $1,890 |
| Dec | 60% | $142 | $2,310 |
Top Short-Term Rental Operators in Lehi
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Carole Andersen | 47 | 1,412 | ★ 4.78 |
| 2 | Innkeeper Bnb Management | 44 | 1,384 | ★ 4.89 |
| 3 | Airbnfree | 38 | 528 | ★ 4.95 |
| 4 | Stewart Mountain Lodging | 37 | 1,572 | ★ 4.87 |
| 5 | Evolve | 35 | 1,220 | ★ 4.79 |
What Kind of STR Should I Buy in Lehi?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 697 |
| 2 bed | 491 |
| 3 bed | 525 |
| 4 bed | 275 |
| 5 bed | 278 |
ADR by Property Tier
| Entire Home | $202 |
| Luxury | $340 |
| Professionally Managed | $314 |
Revenue by Dwelling Type
| Apartment | $2,715 |
| Entire Place | $4,144 |
| House | $4,240 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 57.7% |
| vrbo | 3.5% |
| both | 38.8% |
Investment Analysis
Lehi’s STR market posted strong top-line growth through April 2026: revenue is up 11.3% year-over-year and ADR has grown 6.2%, outpacing many comparable Utah markets. At an April 2026 average monthly revenue of $2,710 per active listing, a typical listing generates approximately $32,516 in gross annual revenue.
No housing price data is available for Lehi in this data set, so a gross yield calculation cannot be computed.
The tier premium is meaningful. Entire-home listings averaged $177 per night versus $161 for all types combined. Professionally managed properties averaged $246 per night, a 53% premium over the all-market average, and luxury-tier listings reached $296 per night. Well-appointed, actively managed properties capture meaningfully higher rates in this market.
The central investment risk for Lehi is regulatory. The city requires STRs to be the operator’s primary residence, occupied for the majority of the year. This rule bars pure investor purchases. Operators who live in the property and rent it while traveling can qualify, but conventional buy-and-hold investment STR strategies are not permitted under current city rules. Enforcement is classified as moderate.
The revenue growth trend (2024 annual average $2,660 rising to a 2025 annual average of $2,806, a 5.5% increase) and consistently high occupancy (63-64% in recent years, well above the US STR median of approximately 55%) indicate healthy underlying demand for operators who do qualify under the owner-occupancy rule.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
In April 2026, the average booking lead time for Lehi was 45.4 days, and the average length of stay was 4.21 nights.
A 45-day lead time indicates that most bookings arrive 6-7 weeks before the stay. For a market with a high seasonality score (94.36) and pronounced summer peaks, June-August inventory should carry peak pricing well before the season rather than being discounted last-minute. Operators who publish summer calendars by March or April with full peak rates can capture the highest proportion of early-booking demand.
An average stay length of 4.21 nights reflects a mix of extended weekend stays and mid-week business or tech-relocation trips, consistent with Lehi’s dual demand base of leisure visitors (Thanksgiving Point, outdoor recreation) and corporate travelers (Silicon Slopes employers). A 3- to 4-night minimum during summer months reduces turnover costs while fitting the typical booking pattern. During slower months (November, January), shorter minimums of 1-2 nights can improve calendar fill without significantly increasing per-stay costs.
Short-Term Rental Regulations
Lehi permits short-term rentals (stays under 30 days) but imposes strict owner-occupancy conditions. The property must be the operator’s primary residence and must be owner-occupied for the majority of the year. This requirement effectively bars conventional non-owner-occupied investment STR strategies from operating legally in the city.
Operators who qualify must obtain Short-Term Rental approval from the Planning Division (application fee approximately $200 for a permitted use in an existing building, or approximately $350 for a conditional use) and hold a current annual Lehi City business license. Additional operating conditions include:
– STRs may not be located within 600 feet of an elementary, middle, or junior high school.
– Maximum occupancy is 10 guests, limited further by available off-street parking (approximately one stall per bedroom required).
– Quiet hours are 10 PM to 6 AM.
– A designated local contact must be able to respond to issues within one hour.
On taxes, Lehi STR operators owe Utah state sales tax (4.85%), local sales tax, a state transient room tax (0.32%), and the Utah County transient room tax, which rose to 4.5% effective October 1, 2025. The combined lodging tax on a Lehi STR is approximately 11-12%. Airbnb and VRBO collect some taxes automatically, but operators remain responsible for registration and any uncollected portions.
Enforcement is classified as moderate, primarily through complaint- and license-driven mechanisms. Investors should contact the Lehi Planning Division for current permit requirements before any purchase intended for STR use.
Market Comparison
Lehi’s 64.4% occupancy in April 2026 is materially above the US STR median of approximately 55%, reflecting the year-round demand generated by Thanksgiving Point’s approximately 2.8 million annual visitors and the Silicon Slopes business travel base. The ADR of $161 is below the national median of approximately $220, reflecting the market’s mix of budget and mid-tier room rentals alongside owner-occupied primary residences.
Compared with other Utah markets, Lehi is a lower-rate, higher-occupancy profile relative to mountain resort communities such as Park City and Moab, where ADRs can be multiples higher. Lehi’s strength is volume and consistency rather than premium nightly rates.
Revenue growth of 11.3% year-over-year through April 2026 compares favorably with most mature STR markets. The total market score of 83.73 and rental demand score of 85.64 indicate above-average fundamentals.
Among active property managers, Carole Andersen leads with 47 listings and 1,412 reviews at a 4.78 rating. Innkeeper Bnb Management operates 44 listings with 1,384 reviews and a 4.89 rating. Airbnfree manages 38 listings (4.95 rating), Stewart Mountain Lodging 37 listings (4.87), and Evolve 35 listings (4.79). The owner-occupancy requirement limits the total pool of externally managed properties in this market.
Frequently Asked Questions About Lehi, Utah
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