Galena, Illinois Short-Term Rental Market
Galena, IL STRs averaged $151/night at 54.1% occupancy in April 2026, in a supply-capped market with a full license waitlist.
Quick Answer: Galena, Illinois is an active short-term rental market. average occupancy is 54%. average monthly revenue is $2,194. average daily rate is $151. the top operator is Evolve with 100 listings. market score is 97/100 (grade A).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Galena is a compact historic tourism market in northwest Illinois, drawing roughly one million visitors annually to a town of about 3,200 residents. As of April 2026, the short-term rental market recorded an average daily rate of $151.34 and an occupancy rate of 54.1%, producing a RevPAR of $81.79. Year-over-year, occupancy rose 1.3%, ADR increased 1.3%, and monthly revenue grew 5.4%, suggesting steady incremental improvement across all three metrics.
The supply mix skews heavily toward entire-place listings, which account for 7,113 of the approximately 7,998 active listings (about 89%), with private rooms at 875 and shared rooms at just 10. Bedroom distribution is concentrated in smaller units: 1-bedroom properties represent 2,664 listings and 2-bedroom units 2,480, together comprising roughly 64% of total supply. Three-bedroom and larger homes (1,717 at 3BR, 689 at 4BR, 440 at 5BR) make up the remainder.
Channel distribution shows strong Airbnb dominance: 4,573 listings are Airbnb-only, 2,949 appear on both Airbnb and VRBO, and only 476 are VRBO-exclusive. The market scores reflect a high-demand, supply-constrained environment: total score 96.6 out of 100, investability 98.8, and rental demand 88.9. Revenue growth (68.9) and regulation (68.6) scores are lower, consistent with the city’s hard license cap.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 41% | $129 | $1,594 |
| Feb | 48% | $130 | $1,585 |
| Mar | 53% | $134 | $1,922 |
| Apr | 52% | $133 | $1,870 |
| May | 54% | $145 | $2,070 |
| Jun | 60% | $166 | $2,674 |
| Jul | 63% | $172 | $3,015 |
| Aug | 59% | $164 | $2,708 |
| Sep | 53% | $153 | $2,251 |
| Oct | 54% | $156 | $2,395 |
| Nov | 50% | $144 | $2,010 |
| Dec | 46% | $148 | $1,988 |
Top Short-Term Rental Operators in Galena
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 100 | 4,000 | ★ 4.72 |
| 2 | Harbor Inn | 83 | 976 | ★ 4.75 |
| 3 | MySuiteSpot | 67 | 4,862 | ★ 4.78 |
| 4 | Rosebud Rentals | 59 | 3,522 | ★ 4.78 |
| 5 | Southern Illinois Vacation Rentals | 54 | 5,292 | ★ 4.95 |
What Kind of STR Should I Buy in Galena?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,664 |
| 2 bed | 2,480 |
| 3 bed | 1,717 |
| 4 bed | 689 |
| 5 bed | 440 |
ADR by Property Tier
| Entire Home | $161 |
| Luxury | $311 |
| Professionally Managed | $190 |
Revenue by Dwelling Type
| Apartment | $1,641 |
| Entire Place | $2,308 |
| House | $2,427 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 57.2% |
| vrbo | 6% |
| both | 36.9% |
Investment Analysis
Galena presents an unusual investment profile: strong demand fundamentals constrained by a hard regulatory cap on new STR licenses. Average monthly revenue in April 2026 was $2,194, implying an annualized gross revenue run-rate of approximately $26,330 for a typical listing. Against a typical home value of $309,514, that produces an estimated gross yield of roughly 8.5%. The median sale price of $243,333 and median list price of $318,267 indicate a range of entry points, with sale prices running below list.
Tier differentiation is material. The all-listings ADR of $151.34 compares to $161.23 for entire-home listings and $189.50 for professionally managed properties, a 25% premium over the market average. Luxury-tier listings command $310.71, more than double the overall average. An investor acquiring a professionally managed entire-home unit can reasonably target ADRs in the $160-$190 range.
The critical constraint is entry: Galena caps STR licenses at roughly 20 in residential districts and 70 in the downtown commercial district, and all available slots are currently allocated with an active waitlist. Investors must either acquire a property with a transferable license or wait for a vacancy. This supply cap is the primary factor that sustains occupancy and pricing but also limits new market participants.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
Run a Free Address Analysis
Skip the market averages. Get revenue projections, comp analysis, and ROI for your specific property address. Free, instant, no signup required.
Analyze My Property →Home Value Trends (Galena)
Booking Insights
Galena guests book an average of 41.3 days in advance, indicating a moderately forward-looking booking window. This lead time suggests pricing adjustments 5-7 weeks ahead of target dates can capture the bulk of reservations. For the July peak, operators should establish July pricing by late May to capture that window.
Average length of stay is 4.2 nights, slightly above the typical 2-3 night weekend profile common in drive markets. This indicates that Galena attracts a meaningful share of longer mid-week or extended weekend stays, possibly from Chicago and Milwaukee visitors taking 4-5 day getaways. A 4.2-night average also implies lower turnover costs relative to pure weekend-flip properties, which improves net margins. Operators with minimum-stay rules of 3 nights during peak periods are well-matched to this demand pattern.
Short-Term Rental Regulations
Galena is one of the more restrictive STR markets in Illinois. Short-term rentals (under 30 days) require both a city special use permit and an operating license under Chapter 112 (Guest Accommodations). The city has capped the total number of licenses: approximately 20 in residential districts, 70 in the downtown commercial district, and 5 in other commercial districts. As of the profile date, all available licenses are allocated with a substantial waitlist managed by the Zoning Administrator.
The special use permit fee is $400 for new applicants ($250 renewal); a Guest House license runs $150 new and $130 for renewal. Total lodging tax burden is approximately 10.25%, composed of 6.25% Illinois state tax, 2.0% Jo Daviess County tax, and 2.0% City of Galena municipal lodging tax. Effective January 6, 2026, Illinois expanded its hotel operators’ occupation tax to require STR marketplaces such as Airbnb and VRBO to collect and remit state lodging taxes directly.
There is no annual night cap and no owner-occupancy or primary-residence requirement. The city does not restrict the number of nights per year once a license is held. Enforcement severity is rated strict. The practical implication for investors: acquiring an unlicensed property and expecting to add a new STR license is not currently viable. The path to market is acquiring a property that already holds a transferable license.
Market Comparison
Galena’s 54.1% occupancy in April 2026 sits below the US short-term rental median occupancy of approximately 55%, but ADR of $151.34 is meaningfully below the national median of roughly $220. The below-average ADR partly reflects the rural Midwest drive-market profile and smaller average unit size (1BR and 2BR dominate supply). However, the investability score of 98.8 out of 100 signals that the ratio of revenue to acquisition cost is strong relative to peer markets, driven by the lower home values in the region.
Among property managers, Evolve leads with 100 listings and a 4.715 average rating across 4,000 reviews. Harbor Inn operates 83 listings (rating 4.747). MySuiteSpot holds 67 listings with 4,862 reviews at 4.782. Rosebud Rentals (59 listings, 4.783 rating) and Southern Illinois Vacation Rentals (54 listings, 4.945 rating) round out the top five. Southern Illinois Vacation Rentals carries the highest guest rating in the group despite the smallest listing count, suggesting a quality-focused operation. The top 5 operators collectively manage 363 listings, roughly 4.5% of total market supply.
Frequently Asked Questions About Galena, Illinois
What is the average daily rate for short-term rentals in Galena, IL?
What occupancy rate do Galena STRs typically achieve?
Can I get a new STR license in Galena?
What taxes apply to Galena short-term rental income?
How much revenue does a typical Galena STR generate per month?
What is the typical home value in Galena relative to STR income?
How far in advance do guests book Galena rentals?
Analyze Galena Rentals
Use our free calculator to estimate Airbnb revenue for any property in Galena.
Free Galena STR Calculator →
