Wallace, Idaho Short-Term Rental Market
Wallace, ID STRs averaged $167/night at 40.2% occupancy in April 2026, with strong year-over-year growth of 9.5% in occupancy.
Quick Answer: Wallace, Idaho is an active short-term rental market. average occupancy is 40%. average monthly revenue is $1,907. average daily rate is $167. the top operator is Vacasa with 240 listings. market score is 50/100 (grade D).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Wallace is a small historic mining town of approximately 839 residents in Idaho’s Silver Valley, positioned along I-90 in Shoshone County. The entire downtown is listed on the National Historic Register, giving the market a distinct heritage-tourism positioning as the ‘Silver Capital of the World.’ As of April 2026, the market recorded an average daily rate of $167 and occupancy of 40.2%, generating a RevPAR of $67.
The market holds approximately 6,847 active listings, with entire-place rentals at 6,529 (95.4%), private rooms at 317, and one shared room. Bedroom distribution shows 1-bedroom units leading at 2,071 listings, followed by 3-bedroom (1,760), 2-bedroom (1,568), 4-bedroom (846), and 5-bedroom-plus (591). Channel distribution shows 3,450 listings on both Airbnb and Vrbo, 2,948 exclusively on Airbnb, and 449 exclusively on Vrbo.
Year-over-year performance trends in April 2026 were notably positive: occupancy up 9.5%, ADR up 5.4%, and revenue up 7.7%, making Wallace one of the stronger growth markets in this batch. Market scores show investability at 68.5 out of 100 and rental demand at 66.2, with a total score of 49.9 reflecting a niche market.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 41% | $211 | $2,383 |
| Feb | 48% | $218 | $2,603 |
| Mar | 41% | $179 | $2,143 |
| Apr | 39% | $151 | $1,655 |
| May | 48% | $162 | $1,815 |
| Jun | 61% | $220 | $3,181 |
| Jul | 68% | $251 | $4,441 |
| Aug | 60% | $239 | $3,897 |
| Sep | 46% | $190 | $2,375 |
| Oct | 42% | $161 | $1,921 |
| Nov | 41% | $161 | $1,706 |
| Dec | 46% | $208 | $2,295 |
Top Short-Term Rental Operators in Wallace
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Vacasa | 240 | 14,816 | ★ 4.59 |
| 2 | Evolve | 199 | 8,726 | ★ 4.76 |
| 3 | Tamarack Resort | 153 | 120 | ★ 4.63 |
| 4 | Done Right Management | 149 | 3,553 | ★ 4.82 |
| 5 | FrostCabins | 117 | 7,347 | ★ 4.78 |
What Kind of STR Should I Buy in Wallace?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,071 |
| 2 bed | 1,568 |
| 3 bed | 1,760 |
| 4 bed | 846 |
| 5 bed | 591 |
ADR by Property Tier
| Entire Home | $171 |
| Luxury | $369 |
| Professionally Managed | $240 |
Revenue by Dwelling Type
| Apartment | $1,533 |
| Entire Place | $1,949 |
| House | $2,087 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 43.1% |
| vrbo | 6.6% |
| both | 50.4% |
Investment Analysis
Wallace presents one of the lowest entry-cost STR markets in this batch, with a typical home value of $255,450 and a median list price of $271,133. With 22 active listings for sale, inventory is thin but present. At the average monthly revenue of $1,907, annualized gross revenue projects to approximately $22,872, implying a gross yield of roughly 9.0% against the typical home value.
Tier differentiation is meaningful: luxury properties average $369/night versus the market average of $167, and professionally managed listings average $240/night, a 43% premium over market. House listings average $2,087/month compared to $1,949 for entire-place listings broadly and $1,533 for apartments.
The investability score of 68.5 and the strong YoY metrics (occupancy +9.5%, revenue +7.7%) signal a recovering or growing market. Idaho’s regulatory environment is the most permissive in the dataset: no STR-specific permit is required (only a city business license), and Idaho HB 583, signed March 2026 and effective July 1, 2026, bars any future local restrictions specific to STRs. This legislative protection is rare and material for long-term investment planning. The primary risk factor is the market’s small size and dependence on summer recreational activity and heritage tourism.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Wallace guests book an average of 36.4 days in advance, approximately five weeks out. This lead time is shorter than major resort markets but sufficient for operators to build pricing strategies around peak summer and winter windows. Heritage tourism and outdoor recreation visitors tend to plan trips less far in advance than major ski or beach destination travelers.
Average length of stay is 3.5 nights, slightly longer than a standard weekend, suggesting a mix of weekend trips and short mid-week stays. This LOS is consistent with visitors who combine multiple activities: a day at the Sierra Silver Mine Tour, a day on the Route of the Hiawatha trail, and an additional night for a festival or driving exploration. Operators offering flexible 3 to 4 night minimums in summer and 2-night minimums in winter capture both the weekend and mid-week segments effectively.
Short-Term Rental Regulations
Wallace operates under one of the most permissive STR regulatory frameworks in Idaho. The city has no dedicated STR ordinance and requires only a standard city business license for STR operators. There is no separate STR permit, no owner-occupancy requirement, and no primary-residence requirement.
Idaho state law already protects STRs under Idaho Code 67-6539, which bars cities and counties from prohibiting STRs or treating them differently than other residential uses. Idaho HB 583, signed by Governor Little on March 16, 2026, and effective July 1, 2026, expands this protection by explicitly prohibiting local governments from requiring STR-specific permits, licenses, owner occupancy, professional management, additional insurance, usage reporting, extra parking, inspections, day caps, conditional use permits, or density limits. Any conflicting local ordinances must be repealed or revised by July 1, 2026.
Tax obligations are state-driven: a 6% Idaho sales tax plus a 2% Idaho Travel and Convention Tax apply to stays of 30 nights or less, for a combined 8% state lodging tax remitted to the Idaho State Tax Commission. Airbnb and Vrbo collect and remit on behalf of hosts. Wallace does not impose a local lodging tax. Enforcement is rated low. Operators should obtain an Idaho seller’s permit and Travel and Convention Tax account, secure a Wallace city business license, and ensure standard residential safety equipment is in place.
Market Comparison
Wallace’s 40.2% April 2026 occupancy is below the U.S. STR annual median of approximately 55%, consistent with a small niche market in early spring. The $167 ADR sits below the national median of approximately $220, reflecting the market’s modest price point and smaller rural-Idaho positioning.
The standout metric is year-over-year growth: occupancy up 9.5%, ADR up 5.4%, and revenue up 7.7% compared to April 2025. This acceleration reverses the declining trend seen from 2021 to 2024 in the historical annual data.
Among property managers, Vacasa leads with 240 listings and 14,816 reviews (4.59 rating). Evolve follows with 199 listings and 8,726 reviews (4.76 rating). Tamarack Resort holds 153 listings (4.63 rating). Done Right Management (149 listings, 4.82 rating) and FrostCabins (117 listings, 4.78 rating) round out the top five. The combined top-5 count of 858 listings represents roughly 12.5% of the approximately 6,847 total market listings.
Frequently Asked Questions About Wallace, Idaho
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