Drake, Colorado Short-Term Rental Market
Drake-area STRs averaged $270/night at 30.7% occupancy in April 2026 across 3,700+ active listings in the Rocky Mountain National Park gateway corridor.
Quick Answer: Drake, Colorado is an active short-term rental market. average occupancy is 72%. average monthly revenue is $8,143. average daily rate is $441. the top operator is Evolve with 225 listings. market score is 69/100 (grade C).
Market data reflects the Rocky Mtn Natl Park regional market, which includes Drake. Regulations, taxes, and permit details below are specific to Drake.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
The Drake market encompasses the Rocky Mountain National Park (RMNP) gateway corridor spanning Estes Park, Grand Lake, and surrounding unincorporated Larimer and Grand County areas. With approximately 4.2 million visitors drawn to RMNP annually, this corridor supports one of Colorado’s largest STR inventories, totaling over 3,700 active listings as of the latest snapshot.
In April 2026 (a spring shoulder month), the market posted a $270 average daily rate and 30.7% occupancy, yielding a RevPAR of $83 and average monthly revenue of $2,662. Year-over-year, ADR rose 6.0% and occupancy improved 5.6% from April 2025, though overall revenue growth was flat at 0.4% year-over-year — a reflection of a competitive inventory base rather than weakening demand.
The listing mix skews decisively toward entire-place rentals, which account for 3,632 of the approximately 3,739 total listings (97%). Private rooms represent just 107 listings. By bedroom count, the market spreads relatively evenly across small and mid-size properties: 1-bedroom (1,043 listings), 2-bedroom (990), 3-bedroom (905), 4-bedroom (526), and 5-bedroom or larger (273). Channel distribution shows strong multi-platform presence: 2,458 listings appear on both Airbnb and VRBO, with 913 Airbnb-only and 368 VRBO-only. The market’s overall composite score of 68.6 out of 100 reflects solid rental demand (69.7) and strong revenue growth momentum (89.9), partially offset by a high seasonality score (48.0) that signals meaningful occupancy swings across calendar months.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 34% | $276 | $2,777 |
| Feb | 42% | $279 | $2,927 |
| Mar | 47% | $272 | $3,447 |
| Apr | 34% | $248 | $2,547 |
| May | 53% | $286 | $3,470 |
| Jun | 71% | $361 | $6,268 |
| Jul | 76% | $353 | $7,124 |
| Aug | 65% | $337 | $6,070 |
| Sep | 61% | $313 | $5,135 |
| Oct | 49% | $288 | $4,040 |
| Nov | 35% | $273 | $2,582 |
| Dec | 45% | $310 | $3,322 |
Top Short-Term Rental Operators in Drake
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 225 | 15,838 | ★ 4.75 |
| 2 | Vacasa | 157 | 10,044 | ★ 4.52 |
| 3 | SkyRun Vacation Rentals | 141 | 10,759 | ★ 4.84 |
| 4 | Rocky Mountain Resorts | 98 | 10,160 | ★ 4.72 |
| 5 | WorldMark | 83 | 1,440 | ★ 4.82 |
What Kind of STR Should I Buy in Drake?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 1,043 |
| 2 bed | 990 |
| 3 bed | 905 |
| 4 bed | 526 |
| 5 bed | 273 |
ADR by Property Tier
| Entire Home | $446 |
| Luxury | $744 |
| Professionally Managed | $469 |
Revenue by Dwelling Type
| Apartment | $5,567 |
| Entire Place | $8,246 |
| House | $9,493 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 24.4% |
| vrbo | 9.8% |
| both | 65.7% |
Investment Analysis
Entry costs in this corridor center on a typical home value of approximately $510,394, with active listings carrying a median list price of $536,417. At the April 2026 average monthly revenue of $2,662, an investor projecting at that rate would see roughly $31,900 in annual gross revenue, implying a gross revenue yield of approximately 6.3% on a $510,000 purchase — before platform fees, property management costs, taxes, and operating expenses.
The ADR spread across tiers reveals meaningful upside for well-positioned properties. The market-wide average ADR of $270 compares to $272 for entire-home listings, $281 for professionally managed properties, and $393 for luxury-tier listings. Operators who can target the luxury tier capture a 45% ADR premium over the market average.
Year-over-year ADR growth of 6.0% and occupancy improvement of 5.6% in April signal that rate and demand conditions are improving. The 2025 annual average revenue of $5,091 per month represents a 7.2% improvement over 2024’s $4,750, showing a consistent upward trend since 2021. The market’s revenue growth score of 89.9 out of 100 places this corridor among the stronger performers in the region on that dimension.
The primary investment caution is regulatory: this market spans four jurisdictions with distinct and frequently changing STR rules, including hard residential-zone license caps that have closed new entry in Estes Park and Larimer County’s Estes Valley zones. Investors must identify the specific jurisdiction at the parcel level before underwriting.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
April 2026 data shows a booking lead time of 48.1 days and an average length of stay of 2.98 nights. The nearly 3-night average stay reflects the nature of RMNP trip-planning: visitors typically combine park exploration with town visits over a long weekend rather than a single-night stop.
A 48-day lead time means most summer bookings are finalized well before the check-in date, giving operators visibility into summer revenue roughly 6-7 weeks ahead. This window supports dynamic pricing adjustments: operators can hold rates firm when occupancy is filling on schedule or discount selectively when the summer calendar shows gaps at the 30-day mark.
The near-3-night average stay also matters for turnover economics. At $270 ADR and 2.98 nights, a typical reservation generates approximately $805 in gross revenue before fees. Operators with cleaning costs above $100-150 per turn should factor that into minimum-night pricing, particularly in shoulder months where stays may be shorter.
Short-Term Rental Regulations
This market spans four separate regulatory jurisdictions. Investors must identify which jurisdiction applies to a specific parcel before assuming any single set of rules.
Town of Estes Park (east gateway, residential zones): STRs require a Vacation Home License. The residential zone cap is 322 licenses. A waitlist lottery launched under Ordinance 18-25 (effective December 15, 2025) allows a waitlist capped at 30 applicants. Annual fees total approximately $200 base plus $50 per bedroom, plus a Workforce Housing Linkage Fee of $1,500 (2026, inflation-adjusted from $1,460 in 2025). A 4-year compliance reinspection is mandatory. Owner-occupancy is not required. Commercial-zoned properties face no cap.
Larimer County unincorporated Estes Valley: Requires an STR Operating License with a 208-license cap in residential Estes Valley zones. Licenses do not transfer on property sale. Renewal is $250 every two years.
Town of Grand Lake (west gateway): No hard cap. Tiered annual license fees apply by occupancy level, with a 16-occupant maximum. An 11-plus occupant fee tier of $2,000 per year was added in 2025, with all tiers raised approximately 22%.
Grand County unincorporated: $100 per advertised occupant annually, 16-occupant maximum. Licenses are not portable between parcels.
All jurisdictions operate under a combined occupancy tax burden of 14.2%. Grand County lodging tax increased from 1.8% to 2.0% effective January 1, 2025 after voter approval in November 2024. Enforcement is classified as strict across the corridor.
Market Comparison
Against U.S. STR benchmarks of approximately 55% median occupancy and $220 median ADR, the Drake corridor’s April occupancy of 30.7% is below national norms — but April is a shoulder month here. The 2025 annual average occupancy of 51.0% tracks near the national median, while the 2025 annual ADR average of $351 runs approximately 60% above the national median, reflecting the premium rates this gateway corridor commands.
Operator concentration is notable. The top 5 property managers collectively hold at least 704 listings. Evolve leads with 225 listings and a 4.747 average rating across 15,838 reviews. Vacasa holds 157 listings (4.515 rating, 10,044 reviews). SkyRun Vacation Rentals operates 141 listings with a 4.836 rating and 10,759 reviews — the highest-rated large operator in the market. Rocky Mountain Resorts runs 98 listings (4.720 rating) and WorldMark holds 83 (4.822 rating).
The presence of five established regional and national managers signals a competitive, professionally managed market. Independent operators compete against portfolios with automated pricing and national booking reach. The market’s investability score of 67.5 and rental demand score of 69.7 place it in the above-average tier for Colorado mountain markets, though the regulatory environment (scored 76.2 for permissiveness relative to peers) requires careful jurisdiction-level due diligence.
Frequently Asked Questions About Drake, Colorado
What is the average daily rate for STRs in the Drake/Estes Park area?
How much can an STR owner expect to earn per month in this market?
Is it legal to operate a short-term rental in Estes Park or Grand Lake?
What is the peak season for STRs in this market?
How far in advance do guests typically book in this market?
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What is the typical home value for STR investment properties in this corridor?
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