Fox Lake, Illinois Short-Term Rental Market
Fox Lake area STRs averaged $184/night at 62.7% occupancy in April 2026 across the Chain O'Lakes waterway region.
Quick Answer: Fox Lake, Illinois is an active short-term rental market. average occupancy is 76%. average monthly revenue is $5,293. average daily rate is $260. the top operator is Blueground with 681 listings. market score is 71/100 (grade B).
Market data reflects the Chicago regional market, which includes Fox Lake. Regulations, taxes, and permit details below are specific to Fox Lake.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Fox Lake anchors the Chain O’Lakes waterway region of northeastern Illinois, a 15-lake interconnected system covering 7,100 acres with 488 miles of shoreline. The area draws over 230,000 boating visitors annually from the Chicago metro, making it one of the busiest inland recreational waterways per acre in the country. The STR market data reflects the broader Fox Lake and Chain O’Lakes regional area, which extends across portions of Lake and McHenry counties.
The market recorded a $184 average daily rate and 62.7% occupancy in April 2026, with average monthly revenue of $3,153 per listing. Revenue grew 5.8% year over year, while ADR was essentially flat at +0.2%, suggesting the occupancy gains drove the revenue improvement.
The listing mix is heavily concentrated in entire-place units, which account for 13,082 of the approximately 16,351 total listings in the regional dataset. Private rooms total 3,232 and shared rooms 37. Airbnb hosts 9,810 listings; VRBO holds 801; 5,740 listings appear on both platforms. Bedroom distribution skews toward smaller units: 1-bedroom (6,921), 2-bedroom (4,255), 3-bedroom (2,991), 4-bedroom (1,413), and 5-bedroom-plus (718). The market’s composite score is 70.7, with rental demand (84.9) as the strongest component.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 48% | $113 | $1,611 |
| Feb | 56% | $114 | $1,622 |
| Mar | 62% | $135 | $2,232 |
| Apr | 61% | $141 | $2,345 |
| May | 69% | $169 | $3,095 |
| Jun | 73% | $190 | $3,702 |
| Jul | 72% | $174 | $3,478 |
| Aug | 68% | $176 | $3,340 |
| Sep | 66% | $162 | $2,904 |
| Oct | 64% | $158 | $2,824 |
| Nov | 56% | $142 | $2,262 |
| Dec | 55% | $133 | $2,071 |
Top Short-Term Rental Operators in Fox Lake
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Blueground | 681 | 286 | ★ 4.33 |
| 2 | Luxury Lili Stays | 189 | 9,607 | ★ 4.63 |
| 3 | Kasa Properties | 156 | 7,809 | ★ 4.71 |
| 4 | Slumber Stay | 134 | 7,930 | ★ 4.56 |
| 5 | Evolve | 126 | 2,725 | ★ 4.36 |
What Kind of STR Should I Buy in Fox Lake?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 6,921 |
| 2 bed | 4,255 |
| 3 bed | 2,991 |
| 4 bed | 1,413 |
| 5 bed | 718 |
ADR by Property Tier
| Entire Home | $303 |
| Luxury | $543 |
| Professionally Managed | $337 |
Revenue by Dwelling Type
| Apartment | $5,372 |
| Entire Place | $6,138 |
| House | $5,185 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 60% |
| vrbo | 4.9% |
| both | 35.1% |
Investment Analysis
Fox Lake presents an accessible entry-point STR market with meaningful entitlement risk that investors must underwrite carefully. At a typical home value of $252,684 and monthly revenue averaging $3,153, the gross revenue potential is approximately $37,800 annually, representing a gross yield near 15.0% before expenses. That figure is compelling on paper but depends entirely on securing the required special use permit.
The Village of Fox Lake requires both a short-term housing rental license and a special use permit approved by the Board of Trustees after a public hearing. The special use permit is tied to the approving owner and does not transfer upon sale, meaning a buyer who purchases an existing STR property must re-apply for the special use and cannot rely on the prior owner’s permit. The Village also caps the total number of permitted STRs community-wide, so new approvals may not be available.
Revenue trends show sustained growth: 2025 annual average reached $3,412/month, up from $3,361 in 2024 and $2,950 in 2023. Entire-place listings outperform the all-unit average at $3,599/month in April 2026. ADR tiers show meaningful spread: all-listings average $184, entire-home $213, and luxury-tier properties $385. Professionally managed listings average $226. For investors who can secure permits, the lake region’s strong recreational demand provides durable revenue support.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Fox Lake STR guests book an average of 35 days in advance and stay an average of 4.7 nights per booking. The 35-day lead time reflects a recreational leisure market where travelers plan lake getaways a month out, consistent with the Chicago metro weekend-trip planning horizon.
For operators, a 35-day booking window means dynamic pricing updates made 4 to 5 weeks before arrival still capture the majority of booking demand. Promotional pricing pushed earlier than 8 weeks may undercut occupancy potential by selling peak summer dates at shoulder-season rates before demand fully materializes.
At 4.7 nights per stay, the Fox Lake market skews toward multi-night weekend-plus stays rather than single-night events. This reduces cleaning frequency per month and positions the market favorably for cost-conscious operators managing multiple properties. The combination of moderate lead time and longer stays is well-suited to a weekly-pricing or weekend-block pricing strategy during the June-through-August peak.
Short-Term Rental Regulations
Short-term rentals are legal in Fox Lake but require two separate approvals and carry non-standard resale risk. Operators must obtain a short-term housing rental license from the Village Clerk and a special use permit from the Board of Trustees, which holds a public hearing before granting approval under the Village Zoning Ordinance.
The special use permit is tied to the specific owner at the time of approval. It does not transfer when a property is sold. A buyer of a previously licensed STR property must re-apply for a new special use permit and cannot operate under the prior owner’s approval while the application is pending. The Village caps the total number of permitted STRs community-wide, so new approvals may not be available at a given time.
The annual license renewal fee is $100. Properties are subject to annual health and safety inspections. Operators must collect the Village’s 5% hotel/motel room tax and remit it monthly. The ordinance sets occupancy limits, parking requirements, and a local contact requirement. Enforcement is rated moderate, with revocation procedures and fine mechanisms in place for substantiated complaints. As of May 2026, the Village had continued refining occupancy standards and revocation procedures and approved at least one recent application for a prior compliant operator.
Market Comparison
Fox Lake’s 62.7% April 2026 occupancy exceeds the U.S. STR median of approximately 55%, reflecting the region’s strong recreational demand from the Chicago metro. The $184 ADR is below the national median of roughly $220, consistent with a regional lake-recreation market rather than a coastal or urban destination.
The market’s rental demand score of 84.9 is among the stronger scores in the Midwest regional lake category. Revenue growth at 5.8% year over year in April 2026 is solid for an established recreational market. The seasonality score of 65.3 reflects the significant winter softness, which is the market’s primary risk factor relative to year-round destinations.
Among professional operators, Blueground leads with 681 listings, though its 286 reviews and 4.33 rating suggest a newer or corporate-housing-focused portfolio. Luxury Lili Stays operates 189 listings with 9,607 reviews at a 4.63 rating, indicating a more established vacation rental operation. Kasa Properties manages 156 listings with 7,809 reviews at 4.71. Slumber Stay holds 134 listings with 7,930 reviews at 4.56, and Evolve manages 126 listings with 2,725 reviews at 4.36. The top 5 operators collectively hold approximately 1,286 listings.
Frequently Asked Questions About Fox Lake, Illinois
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