Jackson Hole STR Market 2026. What the Data Shows for Investors in Wyomings Elite Mountain Vacation Rental Economy

Jackson Hole has 45.5% of its June through August short-term rental nights already booked as of early April 2026, placing it at the top of every major U.S. vacation rental destination for summer forward bookings. That is not a soft lead. That is the hardest forward-booking signal in the country right now, and it puts Jackson Hole ahead of Cape Cod (44%), Hatteras (44%), Breckenridge (42.6%), and every coastal market from the Outer Banks to Gulf Shores.

Think of forward bookings like a weather forecast for revenue. When nearly half your summer nights are spoken for with two months still left on the booking window, you are looking at a market where demand is not a question. The only question is whether you can get in.

Jackson Hole STR Market Data at a Glance

StaySTRA data shows Jackson Hole’s 349 active short-term rental listings generating strong numbers across the board. The median property pulls in $78,821 per year, which translates to roughly $6,568 per month. The market-wide average daily rate sits at $589, with annual occupancy at 46.9%. Revenue grew 6.4% year over year, a healthy clip for a market that was already one of the most expensive in the country.

But the averages only tell part of the story. Stay with me here, because the spread between tiers is where Jackson Hole really separates itself from other mountain markets.

The top 10% of properties command ADRs above $1,089 per night and maintain occupancy rates above 82%. That tier is pulling in more than $15,899 every month. Even the top quartile is strong: $682-plus nightly rates, 70% or better occupancy, and monthly revenue north of $11,304. The median operator earns a respectable $7,065 per month at a $469 ADR and 52% occupancy.

The bottom quartile, by contrast, sits at $315 per night and just 26% occupancy. That gap between top and bottom performers is wider in Jackson Hole than in most markets I track, and it tells you something important: this is not a market where you list a property and collect checks. The operators who invest in quality, positioning, and pricing strategy are the ones capturing that premium tier. The ones who do not are leaving significant money on the table.

Why Mountain Markets Are Outpacing Coastal in 2026

The 45.5% summer booking figure does not exist in a vacuum. It is part of a broader shift that any serious STR investor should be watching. Mountain destinations are pulling ahead of traditional coastal markets in forward bookings for summer 2026, and Jackson Hole is leading the charge.

Here is how the top 10 summer destinations stack up by forward-booked occupancy as of early April:

1. Jackson Hole, WY: 45.5%
2. Cape Cod, MA: 44%
3. Hatteras/Outer Banks, NC: 44%
4. Breckenridge, CO: 42.6%
5. Newport, RI: 41.4%
6. Maine Beaches: 40.7%
7. Gulf Shores, AL: 40.4%
8. Myrtle Beach, SC: 40.4%
9. Michigan West Coast: 39.4%
10. Atlantic City/Ocean City, NJ: 38.7%

Notice the pattern. Mountain and nature-forward destinations are mixing into a list that has historically been dominated by beach markets. Realtor.com’s editorial team described it as travelers “choosing to trade the ocean for the mountains.” That is not just a headline. The data supports it.

When I first started tracking STR markets four decades ago (admittedly on paper spreadsheets in a government office in Santa Fe, not on a laptop), beach markets had the summer season almost entirely to themselves. The shift we are seeing now is structural, not a blip. Travelers are booking experiences around national parks, hiking, rafting, and wildlife viewing. Jackson Hole, with Grand Teton National Park at its doorstep and Yellowstone a short drive north, sits at the center of that trend.

Seasonal Revenue Patterns and the Dual-Peak Advantage

Most vacation rental markets have one peak season and a long offseason. Jackson Hole has two peaks, and that changes the investment math in a meaningful way.

Summer peak (June through August): Average monthly revenue of $13,859, with occupancy hitting 64% and ADRs climbing to $710. July is the single strongest month. Outdoor recreation drives this season: Grand Teton, Yellowstone, Snake River float trips, hiking, mountain biking, and wildlife tours.

Shoulder seasons (spring and fall): Revenue averages $7,795 per month with 49.6% occupancy and a $588 ADR. These are not dead months. Fall foliage, elk migration, and early-season events keep properties producing.

Winter season (December through March): Jackson Hole Mountain Resort is one of the premier ski destinations in North America, with 2,500 acres of skiable terrain and consistent snowfall. Winter brings its own booking surge, particularly around holidays and February ski weeks.

Low season (April and November): These are the quiet months, with revenue averaging $4,246 and occupancy around 31.3%. ADRs still hold at $545, which tells you that even during the slowest period, the guests who do book are paying premium rates.

Think of the dual-peak structure like a two-income household. If one season underperforms, the other provides a cushion. A beach market like Gulf Shores depends almost entirely on summer. A ski-only town like Telluride leans heavily on winter. Jackson Hole earns from both ends of the calendar, and that resilience is worth factoring into any acquisition model.

What the Property Mix Tells Investors

The composition of Jackson Hole’s 349 active listings reveals what performs in this market. Entire home and apartment listings make up 84.8% of supply. Condos and apartments account for 51% of listings, with houses at 28.4% and boutique or hotel-style properties at 11.7%.

The dominant property size is three bedrooms, representing 28.7% of all listings. Two- and three-bedroom units together make up 56.5% of the market, with an average guest capacity of 5.5. Larger properties (three-plus bedrooms) account for 41.6% of supply.

For investors evaluating acquisition targets, the condo segment is worth close attention. A well-positioned two- or three-bedroom condo near the town square or within shuttle distance of the ski resort can capture both summer and winter demand without the maintenance overhead of a standalone home. The houses that do perform in the top tier tend to be high-end, experience-driven properties with mountain views, hot tubs, and premium finishes.

Teton County’s Regulatory Moat

Here is where Jackson Hole diverges sharply from almost every other STR market in the country, and where I think many investors underestimate the value proposition.

Teton County enforces a strict 31-day minimum rental requirement for most residential properties. Short-term rentals of fewer than 31 days are classified as “lodging use” and can only operate in designated resort and lodging overlay zones. The county caps permits in those zones, creating a hard ceiling on supply that no amount of investor enthusiasm can push through.

In January 2024, the Town of Jackson expanded STR capabilities slightly, allowing properties outside the lodging overlay to host up to three short-term rentals per calendar year, with a maximum of 60 rental days annually. That expansion added some flexibility, but it is not the kind of open-door policy that floods a market with new supply. Operators must obtain a Basic Use Permit, a business license, pass fire and health inspections, designate a local contact person, and (where applicable) secure written HOA consent and notify neighbors within 200 feet.

For context, that is the opposite of what happened in markets like Scottsdale or Nashville, where minimal barriers to entry led to supply surges that diluted revenue per listing. In Jackson Hole, the regulatory structure functions like a moat around existing operators. If you can get a permit, your competitive position is protected by the same rules that made it hard to get in.

Teton County also imposes a robust lodging tax (higher than most Wyoming jurisdictions, reflecting the tourism-driven economy) and authorizes fines up to $750 per violation per day for unlicensed operators. Enforcement is active, not theoretical.

The Acquisition Math

Now for the part that keeps a lot of investors up at night when they look at Jackson Hole. This market is not cheap by any measure, and I would rather you know that upfront than discover it after you have fallen in love with the revenue numbers.

The typical home value in Jackson, Wyoming is approximately $1.85 million, according to Zillow’s Q4 2025 data. The median sale price reached $2.7 million in early 2026. Teton County overall saw a median sale price of $3.1 million in mid-2025. The luxury segment (estates above $5 million) posted a median of $10.43 million.

Jackson Hole closed 2025 with 453 total real estate transactions, up 27% year over year, and $2.17 billion in total dollar volume, a 52% increase from 2024. Short-term rental-zoned properties accounted for 45% of all transactions, underlining how central STR income is to the investment thesis here.

At a $1.85 million entry point with a median STR revenue of $78,821 per year, the gross yield is approximately 4.3%. That is not a cash-flow play for most investors, especially after accounting for property management (typically 25-35% in resort markets), maintenance, insurance, and county taxes. But top-quartile operators earning $135,648 or more annually on the same property class start to shift that math significantly.

For investors considering DSCR financing, Jackson Hole’s high ADR and demonstrated occupancy rates can support loan qualification, though the high acquisition price means larger down payments and tighter debt service coverage ratios. The market’s revenue growth (6.4% YoY) and supply constraints provide a stronger long-term thesis than many markets where revenue growth is being offset by supply expansion.

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How Jackson Hole Compares to Other Mountain Markets

Investors often weigh Jackson Hole against other mountain STR markets. The two closest comparisons are Park City, Utah and Breckenridge, Colorado, both of which StaySTRA has covered in depth.

Jackson Hole’s $589 ADR is among the highest of any mountain market in the country. Its 349 active listings represent a much smaller supply base than Park City or Breckenridge, both of which have more than 1,000 active listings. That smaller supply, combined with permit caps, means less competitive pressure per listing.

The 45.5% summer forward-booking rate outpaces Breckenridge (42.6%) and most other mountain destinations. Jackson Hole’s proximity to two major national parks gives it a demand driver that pure ski towns lack during summer months.

The trade-off is entry cost. A comparable property in Breckenridge or Park City can often be acquired for 40-60% less than in Jackson Hole. Investors need to decide whether they are optimizing for cash-on-cash return (where a lower entry price matters) or for long-term asset appreciation in a supply-constrained trophy market (where Jackson Hole has few peers).

What to Watch Going Forward

Three factors will shape Jackson Hole’s STR market through the rest of 2026 and into 2027.

Summer 2026 performance. With 45.5% of nights already booked, the final occupancy numbers for June through August will either confirm or temper the bullish forward-booking signal. If realized summer occupancy exceeds 70%, expect continued ADR growth as operators price into demonstrated demand.

Teton County regulatory posture. The 2024 expansion was modest. Any further loosening of the 31-day rule or expansion of lodging overlay zones could increase supply. Conversely, a tightening (which local housing advocates continue to push for) would further protect incumbent operators.

National park visitation trends. Grand Teton and Yellowstone collectively draw millions of visitors annually. Federal land management decisions, park fee changes, and infrastructure investments all ripple through Jackson Hole’s STR demand. The broader STR market outlook for 2026 is worth monitoring as a leading indicator for how national travel patterns affect this specific market.

We do our best to keep our data accurate and up to date, but markets move fast and we are only human. Always verify current figures directly with local sources before making investment decisions.

Run the Numbers for Jackson Hole

The data tells a clear story: Jackson Hole is a premium, supply-constrained STR market with dual-season demand and the strongest summer forward-booking signal in the country. Whether those fundamentals fit your investment criteria depends on your capital position, financing strategy, and timeline.

Use the StaySTRA Jackson Hole analyzer to model specific properties with current market data. Plug in your target acquisition price, estimated operating costs, and financing terms to see projected returns based on actual Jackson Hole performance metrics.