Black Hawk, Colorado Short-Term Rental Market
Black Hawk STRs averaged $280/night at 21.1% occupancy in April 2026 — a post-ban market with no new permits issued since February 2024.
Quick Answer: Black Hawk, Colorado is an active short-term rental market. average occupancy is 57%. average monthly revenue is $3,584. average daily rate is $310. the top operator is Evolve with 240 listings. market score is 42/100 (grade D).
Market data reflects the Winter Park/Idaho Springs regional market, which includes Black Hawk. Regulations, taxes, and permit details below are specific to Black Hawk.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Black Hawk, Colorado enacted a complete ban on new short-term rentals effective February 14, 2024 (Ordinance 2024-4). No new STR permits are issued within city limits. Grandfathered properties that were licensed before that date may continue as legal nonconforming uses, but the right is non-transferable and terminates upon sale or abandonment.
As of April 2026, the remaining active grandfathered market shows an average daily rate of $280, occupancy of 21.1%, and RevPAR of $59. The dramatic year-over-year occupancy decline of 26.5 percentage points and revenue drop of 17.4% reflect the market contraction following the ban. The 3,254 tracked listings represent the pre-ban peak; the effective active supply is significantly lower as properties are sold and lose their grandfathered status.
Black Hawk is dominated by casino resort hotel infrastructure. The city draws approximately 7.3 million visitors annually, nearly all accommodated in hotel-casino complexes rather than residential STRs. By listing type, 3,212 entire-place units and 42 private rooms remain in the data. Channel distribution shows 2,293 listings on both Airbnb and VRBO, 733 on Airbnb only, and 228 on VRBO only.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 52% | $331 | $4,765 |
| Feb | 59% | $340 | $5,154 |
| Mar | 59% | $344 | $5,752 |
| Apr | 27% | $252 | $2,328 |
| May | 37% | $246 | $2,515 |
| Jun | 58% | $270 | $3,173 |
| Jul | 61% | $273 | $4,183 |
| Aug | 45% | $255 | $3,315 |
| Sep | 40% | $246 | $2,683 |
| Oct | 34% | $245 | $2,494 |
| Nov | 39% | $264 | $2,307 |
| Dec | 56% | $356 | $4,493 |
Top Short-Term Rental Operators in Black Hawk
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 240 | 12,993 | ★ 4.80 |
| 2 | Winter Park Escapes | 239 | 8,687 | ★ 4.83 |
| 3 | StayWinterPark | 217 | 3,890 | ★ 4.68 |
| 4 | Vacasa | 136 | 4,989 | ★ 4.53 |
| 5 | RedAwning | 119 | 250 | ★ 4.64 |
What Kind of STR Should I Buy in Black Hawk?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 649 |
| 2 bed | 1,104 |
| 3 bed | 925 |
| 4 bed | 401 |
| 5 bed | 173 |
ADR by Property Tier
| Entire Home | $313 |
| Luxury | $597 |
| Professionally Managed | $340 |
Revenue by Dwelling Type
| Apartment | $1,933 |
| Entire Place | $3,590 |
| House | $5,319 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 22.5% |
| vrbo | 7% |
| both | 70.5% |
Investment Analysis
Black Hawk is not an actionable STR investment market. Ordinance 2024-4 permanently closed the market to new investment. Any property purchased after February 14, 2024, cannot be operated as a short-term rental within city limits regardless of prior use.
For reference, grandfathered properties in April 2026 generated an average of $2,209 per month at a $280 ADR, with houses averaging $2,867 and entire-place units $2,218. Prior to the ban, peak winter months (January through March) averaged 51% to 59% occupancy and revenue of $4,770 to $5,758, driven by proximity to the Eldora and Winter Park ski areas and holiday casino traffic.
The typical home value for this area is not available in the April 2026 snapshot. Investors targeting the broader Gilpin County market should verify whether prospective property addresses fall within Black Hawk city limits or unincorporated Gilpin County, where STR rules differ substantially. Gilpin County voters approved a lodging tax increase in November 2025 applicable only to unincorporated county areas, not Black Hawk or Central City.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Among remaining grandfathered Black Hawk listings, the average booking lead time is 49 days and average length of stay is 3.5 nights. These figures reflect the surviving operational inventory as of April 2026.
The casino-resort character of the market historically meant that most accommodations were driven by entertainment packages and loyalty program stays booked through hotel channels rather than STR platforms. The STR segment served overflow demand and longer-stay visitors. With the ban in effect and no new supply permitted, the remaining operators have limited incentive to invest in pricing optimization.
Short-Term Rental Regulations
Black Hawk, CO permanently banned new short-term rentals via Ordinance 2024-4, effective February 14, 2024. No new STR permits will be issued. Properties licensed before that date may continue as legal nonconforming uses under a narrow grandfather provision, but this right is non-transferable: it terminates automatically upon sale of the property or abandonment of the use.
The occupancy tax within Black Hawk city limits is 8.9% combined (6% Black Hawk city sales tax plus 2.9% Colorado state sales tax). Gilpin County’s November 2025 lodging tax increase from 2% to 6% applies only to unincorporated county areas and does not affect Black Hawk city properties.
For investors interested in short-term rental properties in the broader area, properties must be verified as located in unincorporated Gilpin County or an adjacent jurisdiction rather than within Black Hawk city limits.
Market Comparison
Black Hawk’s April 2026 ADR of $280 exceeds the US STR median of approximately $220, but occupancy at 21.1% is far below the national median of approximately 55%. This occupancy level reflects the post-ban supply contraction rather than underlying demand weakness.
Evolve leads the remaining market with 240 listings and 12,993 reviews (4.80 average rating). Winter Park Escapes follows with 239 listings and 8,687 reviews (4.83 rating). StayWinterPark holds 217 listings (4.68 rating). Vacasa manages 136 listings (4.53 rating). RedAwning rounds out the top five with 119 listings.
The presence of Winter Park and ski-focused managers in the top five confirms that the area’s STR market historically served ski tourism rather than casino visitors, who predominantly use hotel accommodations. The market score of 41.7 out of 100 is the lowest in this batch, reflecting the regulatory headwinds and revenue contraction following the 2024 ban.
Frequently Asked Questions About Black Hawk, Colorado
Are short-term rentals legal in Black Hawk, CO?
Can I buy a property in Black Hawk and operate it as a short-term rental?
What taxes apply to Black Hawk short-term rentals?
What is the historical peak performance for Black Hawk STRs?
Are there STR opportunities near Black Hawk outside city limits?
What was the occupancy trend in Black Hawk after the STR ban?
What is the current average daily rate in Black Hawk?
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