Lexington, Michigan Short-Term Rental Market
Lexington, MI (Lake Huron) STRs averaged $161/night at 42.3% occupancy in April 2026 across 1,948 active listings.
Quick Answer: Lexington, Michigan is an active short-term rental market. average occupancy is 61%. average monthly revenue is $3,990. average daily rate is $272. the top operator is MiCasa Stays with 95 listings. market score is 72/100 (grade B).
Market data reflects the Michigan East Coastal regional market, which includes Lexington. Regulations, taxes, and permit details below are specific to Lexington.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Lexington is a small resort village on Michigan’s Lake Huron shoreline in Sanilac County, approximately one hour north of Detroit on M-25. The STR market had 1,948 active listings as of April 2026. The market posted an average daily rate of $161 and occupancy of 42.3% in April 2026, generating average monthly revenue of $1,588 per listing. RevPAR was $68. April is a seasonally soft month for this heavily summer-oriented market.
Listing composition is predominantly entire-place rentals: 1,893 of 1,948 listings (97.2%) are entire-place units and 55 are private-room. Bedroom distribution: 373 one-bedroom, 691 two-bedroom, 570 three-bedroom, 186 four-bedroom, and 128 five-plus-bedroom units. Two-bedroom and three-bedroom properties make up the largest share. Platform distribution: 853 listings appear on both Airbnb and VRBO, 786 are Airbnb-only, and 309 are VRBO-only.
Year-over-year from April 2025, occupancy declined 8.3% while ADR rose 5.9%, resulting in a net revenue decline of 11.0%. The market continues a post-pandemic demand rebalancing from its 2020-2021 peak occupancy levels.
Market scores: investability 99.0, revenue growth 76.7, total score 71.9, regulation 69.5, rental demand 61.6, seasonality 49.1 (all out of 100). The investability score of 99.0 is exceptionally high, reflecting the combination of affordable home values and STR revenue potential. The low seasonality score (49.1) reflects the market’s heavy concentration in summer months.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 36% | $144 | $1,529 |
| Feb | 42% | $147 | $1,501 |
| Mar | 43% | $141 | $1,612 |
| Apr | 44% | $147 | $1,534 |
| May | 49% | $189 | $1,840 |
| Jun | 61% | $228 | $3,210 |
| Jul | 74% | $231 | $4,430 |
| Aug | 67% | $229 | $4,110 |
| Sep | 41% | $198 | $2,284 |
| Oct | 39% | $167 | $1,912 |
| Nov | 39% | $154 | $1,667 |
| Dec | 40% | $157 | $1,738 |
Top Short-Term Rental Operators in Lexington
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | MiCasa Stays | 95 | 3,709 | ★ 4.69 |
| 2 | Evolve | 63 | 1,955 | ★ 4.54 |
| 3 | Creative Conservation | 24 | 482 | ★ 4.67 |
| 4 | Hunger & Ransom | 22 | 827 | ★ 4.65 |
| 5 | LiveSuites | 16 | 526 | ★ 4.23 |
What Kind of STR Should I Buy in Lexington?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 373 |
| 2 bed | 691 |
| 3 bed | 570 |
| 4 bed | 186 |
| 5 bed | 128 |
ADR by Property Tier
| Entire Home | $275 |
| Luxury | $457 |
| Professionally Managed | $325 |
Revenue by Dwelling Type
| Apartment | $2,387 |
| Entire Place | $4,059 |
| House | $4,302 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 40.3% |
| vrbo | 15.9% |
| both | 43.8% |
Investment Analysis
Lexington STR listings generated average monthly revenue of $1,588 in April 2026, implying annualized gross revenue of approximately $19,051. The typical home value is $236,167 and median list price is $295,775, making this one of the more accessible lake-market entry points by purchase price. At the typical home value, the gross revenue yield is approximately 8.1%. At the median list price, the indicated yield is approximately 6.4%. Both are pre-expense figures.
Revenue varies by property type. Entire-place listings average $1,608/month; house-type properties average $1,674/month ($20,088 annualized); apartment units average $1,256/month. The luxury-tier ADR of $274/night is 70% above the market average of $161, indicating meaningful upside for premium waterfront or large-group properties. Professionally managed listings average $197/night in ADR, 22% above the market average.
Long-term annual average monthly revenue shows recovery and growth after the pandemic: $1,727 in 2017, a peak of $2,555 in 2021, modest decline to $2,453 in 2023, partial recovery to $2,559 in 2024, and $2,757 in 2025 as the highest full-year average on record. The most recent data point (April 2026) reflects seasonal softness rather than a trend break.
The market’s investability score of 99.0 out of 100, the highest metric in this batch, reflects the combination of low home values, meaningful summer revenue potential, and the Lake Huron waterfront appeal. Investors should factor the strong summer concentration into cash flow planning: July and August drive a disproportionate share of annual revenue.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
The average booking lead time in the Lexington market is 33 days, meaning guests typically book approximately five weeks in advance. This is notably shorter than other resort markets in this batch and reflects the spontaneous nature of Lake Huron weekend trips from the Detroit metro area. Average length of stay is 3.9 nights.
The 3.9-night average stay is one of the longer averages in this batch. Combined with the 33-day lead time, this suggests guests are booking relatively close to their arrival but planning extended stays when they do commit. This pattern is typical of short-drive resort markets where travelers decide to go on short notice but stay for a long weekend or full week.
For pricing strategy, the short 33-day lead window means operators should not hold rates firm too long hoping for premium bookings. Adjusting rates around the 25-30 day mark for unfilled dates during shoulder months is appropriate. During July and August, demand concentration is high enough that rates can hold or increase as the booking window narrows. Minimum stay requirements of 3-5 nights during peak summer weekends are standard practice in this market type and help maintain revenue efficiency at the 3.9-night average.
Short-Term Rental Regulations
Short-term rentals are legal in the Village of Lexington under a registration program. Michigan sets no STR regulations at the state level beyond requiring collection of the 6% state use tax on stays under 30 days. Local rules are set by the village.
Lexington’s Zoning Ordinance, Section 5.25 (Short-Term Residential Rentals in Residential Districts, last revised August 2025), defines an STR as renting a dwelling or portion of a dwelling for compensation for fewer than 30 days. Owners must complete an application, follow a Good Neighbor Guide, and renew periodically (renewal appears to be annual based on village forms, though the exact renewal period and application fee were not confirmed in publicly available documents). The program applies to rentals in residential neighborhoods; no owner-occupancy or primary-residence requirement was found in the available ordinance materials.
Guests pay a 6% Michigan accommodations tax on stays under 30 days. Sanilac County does not appear to levy an additional county lodging excise tax. Enforcement is rated moderate.
Investors should confirm current application fees, district-specific restrictions, parking requirements, and occupancy limits directly with the Village of Lexington Zoning Administrator before purchasing, as the August 2025 ordinance revision may have updated specific thresholds not confirmed from public documents.
Market Comparison
Nationally, STR markets average approximately 55% occupancy and $220 in ADR. Lexington’s April 2026 metrics of 42.3% occupancy and $161 ADR fall below both national benchmarks, consistent with April being a pre-season month for this summer-concentrated market. The 2025 annual average occupancy of 49.2% and ADR of $200 are more representative comparisons against national norms.
The top five property managers in this market are: MiCasa Stays (95 listings, 3,709 reviews, 4.69 rating), Evolve (63 listings, 1,955 reviews, 4.54 rating), Creative Conservation (24 listings, 482 reviews, 4.67 rating), Hunger and Ransom (22 listings, 827 reviews, 4.65 rating), and LiveSuites (16 listings, 526 reviews, 4.23 rating). The top 5 collectively manage 220 listings, approximately 11.3% of the market’s 1,948 total listings. MiCasa Stays holds the leading share with 95 listings and a 4.69 rating.
The market’s investability score of 99.0 out of 100 distinguishes Lexington from most comparable lake markets. Lower entry price points relative to revenue potential create a favorable yield profile. The trade-off is the pronounced summer concentration, which requires reserves to cover nine months of below-average revenue.
Frequently Asked Questions About Lexington, Michigan
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