Manitou Springs, Colorado Short-Term Rental Market
Manitou Springs-area STRs averaged $157/night at 61.4% occupancy in April 2026, with a rental demand score of 90 out of 100 across 4,500+ active Pikes Peak corridor listings.
Quick Answer: Manitou Springs, Colorado is an active short-term rental market. average occupancy is 78%. average monthly revenue is $5,009. average daily rate is $237. the top operator is Renjoy with 232 listings. market score is 54/100 (grade D).
Market data reflects the Colorado Springs regional market, which includes Manitou Springs. Regulations, taxes, and permit details below are specific to Manitou Springs.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
The Manitou Springs market encompasses the Pikes Peak corridor in El Paso County, including Colorado Springs and surrounding communities. The region drew 25.5 million visitors in 2024, up 2.7% year-over-year, generating $3.1 billion in visitor spending. Tourism supports approximately 40,000 regional jobs. Primary visitor draws include Pikes Peak (14,115-foot summit accessible by road or cog railway), Garden of the Gods, the U.S. Air Force Academy, and Cheyenne Mountain Zoo.
The STR market encompasses approximately 4,544 active listings across this corridor. In April 2026, the average daily rate was $157 and occupancy was 61.4%, producing a RevPAR of $96 and average monthly revenue of $2,670. Year-over-year for April, ADR rose 2.5%, occupancy improved 1.1%, and revenue grew 1.3% compared to April 2025 — steady but modest gains.
The listing mix is predominantly entire-place rentals: 4,008 of approximately 4,544 total listings (88%), with 533 private rooms and 3 shared rooms. The private-room share is notable relative to mountain resort markets. By bedroom count: 1-bedroom (1,477 listings), 2-bedroom (1,187), 3-bedroom (828), 4-bedroom (581), and 5-bedroom or larger (465) — a deeper mix of larger properties than typical urban STR markets. Channel distribution is Airbnb-heavy: 2,123 listings are Airbnb-only versus 234 VRBO-only, with 2,187 appearing on both.
The composite market score of 54.3 out of 100 is moderate, but the rental demand score of 90.3 is the second-highest in this Colorado batch, reflecting the scale and consistency of Pikes Peak corridor visitation. The regulation score of 65.0 is the lowest in this group, indicating a more restrictive or uncertain regulatory environment relative to peers.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 48% | $121 | $1,793 |
| Feb | 57% | $121 | $1,773 |
| Mar | 66% | $138 | $2,472 |
| Apr | 61% | $135 | $2,294 |
| May | 70% | $163 | $2,898 |
| Jun | 80% | $196 | $4,157 |
| Jul | 82% | $189 | $4,258 |
| Aug | 73% | $175 | $3,495 |
| Sep | 65% | $161 | $2,829 |
| Oct | 62% | $147 | $2,584 |
| Nov | 56% | $135 | $2,066 |
| Dec | 59% | $143 | $2,268 |
Top Short-Term Rental Operators in Manitou Springs
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Renjoy | 232 | 15,773 | ★ 4.65 |
| 2 | Hoste, LLC | 136 | 8,711 | ★ 4.56 |
| 3 | nestago | 106 | 7,064 | ★ 4.69 |
| 4 | Evolve | 100 | 4,857 | ★ 4.76 |
| 5 | Five Star BnB | 54 | 17,923 | ★ 4.90 |
What Kind of STR Should I Buy in Manitou Springs?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 1,477 |
| 2 bed | 1,187 |
| 3 bed | 828 |
| 4 bed | 581 |
| 5 bed | 465 |
ADR by Property Tier
| Entire Home | $253 |
| Luxury | $403 |
| Professionally Managed | $286 |
Revenue by Dwelling Type
| Apartment | $3,365 |
| Entire Place | $5,416 |
| House | $5,430 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 46.7% |
| vrbo | 5.1% |
| both | 48.1% |
Investment Analysis
The Pikes Peak corridor offers moderate entry costs relative to Colorado’s ski resort markets. The typical home value as of April 2026 was approximately $549,963. Active listings carry a median list price of $725,831, and for-sale inventory is limited at just 36 units in the snapshot, suggesting a constrained supply of homes with STR-appropriate characteristics at this price point.
At the April 2026 monthly average of $2,670, the annualized revenue run-rate implies a gross yield of approximately 5.8% on a $550,000 purchase. Using the 2025 annual average monthly revenue of $3,244, the implied gross yield is approximately 7.1%. Both figures are before platform fees, management costs, taxes, and operating expenses.
The ADR tier spread shows meaningful upside above the market average. The market-wide ADR of $157 compares to $167 for entire-home listings (6% above market), $180 for professionally managed properties (15% above market), and $276 for luxury-tier listings (76% above market). The luxury premium is the highest of the five Colorado markets in this analysis, suggesting that large, well-appointed properties in this corridor can command significantly above-market rates.
The rental demand score of 90.3 is driven by the corridor’s year-round visitor base: 25.5 million annual visitors with 73% being repeat visitors. Summer draws 30% of annual visits (June-August) and is the primary STR peak, while winter is the softest quarter. Revenue growth scored 52.8, indicating that revenue momentum is moderate and not accelerating strongly — a signal to underwrite conservatively on the ADR growth side.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
April 2026 data shows a booking lead time of 34.9 days and an average length of stay of 5.13 nights. The 5-night average is among the longer stays in Colorado STR markets, consistent with the Pikes Peak corridor’s draw as a multi-attraction destination: visitors typically combine Pikes Peak, Garden of the Gods, and downtown Colorado Springs experiences over several days.
At $157 ADR and 5.13 nights, a typical April reservation generates approximately $806 in gross revenue. The 5-night average stay makes this market favorable for operators concerned about cleaning cost ratios: a $150 cleaning fee on an $806 booking represents 19% of revenue, improving economics compared to markets with 2-3 night average stays.
A 35-day lead time means most summer bookings are confirmed by late May for June arrivals. The heavy Airbnb concentration in this market (2,123 Airbnb-only listings) means Airbnb is the dominant channel. Summer peak bookings for July and August are typically secured 4-6 weeks in advance, giving operators a shorter pricing window than mountain markets where summer bookings often come 60-90 days out.
Short-Term Rental Regulations
This market spans multiple jurisdictions. The regulatory data below describes Colorado Springs requirements. Operators in Manitou Springs (a separate municipality within El Paso County) must independently verify local Manitou Springs rules before listing.
Colorado Springs requires an annual STR permit ($124.95 per year) before listing on any platform. Two permit categories apply: Owner-Occupied (owner occupies the property at least 185 days per calendar year, allowed in all residential zones) and Non-Owner-Occupied (restricted to zones other than single-family zones R-E, R-1 6, R-1 9, and Single-Family PDZs for applications submitted after December 26, 2019).
In zones where non-owner-occupied permits are allowed, a 500-foot separation from any other non-owner-occupied STR is required. There is no citywide permit cap. Occupancy is limited to two guests per bedroom plus two additional guests, with a maximum of 15 per unit.
Effective June 30, 2025: properties with an Accessory Dwelling Unit (ADU) may no longer simultaneously hold an STR permit. Properties that held both permits before that date are grandfathered as nonconforming uses until permit expiration or use discontinuation.
Combined lodging tax in Colorado Springs is approximately 10.2% (city 3.07%, state 2.90%, El Paso County 1.23%, PPRTA 1.00%, city Lodgers and Automobile Rental Tax 2.0%). Platforms like Airbnb and VRBO remit marketplace taxes automatically; independent operators must obtain a city sales tax license. Permits do not transfer with property sale. Enforcement is classified as moderate.
Market Comparison
Against U.S. STR benchmarks of approximately 55% median occupancy and $220 median ADR, the Pikes Peak corridor’s April occupancy of 61.4% exceeds the national median significantly, while the $157 ADR runs below the national median. The 2025 annual average ADR of $179 still runs 19% below the national median, positioning this as a high-occupancy, moderate-rate market.
The rental demand score of 90.3 reflects the scale of the corridor’s visitor base — 25.5 million visitors annually is a substantially larger tourism draw than any other market in this five-area Colorado analysis. However, the large visitor count is spread across a large regional area, diluting per-listing revenue relative to concentrated resort markets.
Operator concentration is spread across more providers. The top 5 property managers hold at least 628 listings collectively. Renjoy leads with 232 listings and a 4.651 average rating across 15,773 reviews. Hoste, LLC holds 136 listings (4.559 rating, 8,711 reviews). nestago operates 106 listings (4.686 rating). Evolve holds 100 listings (4.756 rating) and Five Star BnB manages 54 listings with a 4.902 average rating and 17,923 reviews — the most-reviewed operator in the top 5 despite ranking fifth by listing count, suggesting deep market tenure.
For investors comparing this corridor to other Colorado markets, the combination of 90.3 rental demand, moderate ADR, and relatively lower entry cost (typical home value $549,963) positions it as a volume-play market rather than a premium-rate market. The luxury-tier ADR of $276 suggests a ceiling that well-appointed larger properties can approach.
Frequently Asked Questions About Manitou Springs, Colorado
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