Lake Elsinore, California Short-Term Rental Market
Lake Elsinore STRs averaged $208/night at 54.2% occupancy in April 2026 across roughly 7,500 active listings.
Quick Answer: Lake Elsinore, California is an active short-term rental market. average occupancy is 63%. average monthly revenue is $3,834. average daily rate is $227. the top operator is Evolve with 88 listings. market score is 53/100 (grade D).
Market data reflects the Riverside regional market, which includes Lake Elsinore. Regulations, taxes, and permit details below are specific to Lake Elsinore.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Lake Elsinore’s short-term rental market is anchored by the 3,000-acre natural lake and a strong Southern California drive-in visitor base. In April 2026, the market posted an average daily rate of $208 and an occupancy rate of 54.2%, generating $113 in revenue per available room. Approximately 7,500 listings were active across the platform snapshot, making this one of the larger inland Southern California STR markets by listing count.
The listing mix is split between entire-place rentals (4,893 listings, about 65% of the market) and private rooms (2,601 listings, about 35%), with only 19 shared rooms. Studio and one-bedroom units dominate the bedroom distribution with 3,830 listings, followed by three-bedroom (994), four-bedroom (967), two-bedroom (936), and five-or-more-bedroom (769) properties. Airbnb is the dominant booking channel, accounting for 5,212 listings exclusively, while 2,101 properties are listed on both Airbnb and VRBO, and 200 are VRBO-only.
Year-over-year trends through April 2026 show occupancy rising 2.64 percentage points and revenue growing 4.61%, while the average daily rate dipped 1.75%. Revenue growth outpacing ADR suggests occupancy gains are driving performance. The market’s overall score of 53 out of 100 and its rental demand score of 53.5 reflect a moderately competitive market with consistent but not exceptional yield characteristics.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 51% | $161 | $2,426 |
| Feb | 57% | $163 | $2,382 |
| Mar | 58% | $172 | $2,684 |
| Apr | 56% | $179 | $2,855 |
| May | 56% | $175 | $2,697 |
| Jun | 62% | $200 | $3,291 |
| Jul | 63% | $187 | $3,223 |
| Aug | 57% | $174 | $2,806 |
| Sep | 55% | $167 | $2,539 |
| Oct | 57% | $173 | $2,688 |
| Nov | 54% | $179 | $2,721 |
| Dec | 57% | $181 | $2,820 |
Top Short-Term Rental Operators in Lake Elsinore
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 88 | 1,911 | ★ 4.58 |
| 2 | New Spirit Vacation Homes | 60 | 3,551 | ★ 4.46 |
| 3 | Vacasa | 46 | 2,851 | ★ 4.53 |
| 4 | Host / Eric | 45 | 40 | ★ 4.67 |
| 5 | Holidale | 44 | 11 | ★ 4.57 |
What Kind of STR Should I Buy in Lake Elsinore?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 3,830 |
| 2 bed | 936 |
| 3 bed | 994 |
| 4 bed | 967 |
| 5 bed | 769 |
ADR by Property Tier
| Entire Home | $300 |
| Luxury | $498 |
| Professionally Managed | $432 |
Revenue by Dwelling Type
| Apartment | $2,460 |
| Entire Place | $4,985 |
| House | $4,000 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 69.4% |
| vrbo | 2.7% |
| both | 28% |
Investment Analysis
Lake Elsinore presents a mid-tier STR investment profile driven by a wide ADR spread across property tiers. The market’s April 2026 average ADR of $208 masks significant stratification: entire-home listings averaged $274, luxury-tier properties averaged $484, and professionally managed listings averaged $390. Investors targeting the upper tier or working with a property manager can expect nightly rates nearly double the market average.
Monthly revenue for the average listing reached $3,319 in April 2026, with houses generating $3,466 and entire-place listings averaging $4,253. Apartments lagged at $2,213. On an annualized basis, a listing performing at the April 2026 average would generate roughly $39,827 per year, though seasonal variation will produce lower winter months and higher summer months.
Year-over-year revenue growth of 4.61% in April 2026 is a positive signal, and occupancy has trended upward 2.64 percentage points. However, ADR has softened slightly (-1.75% YoY), suggesting some pricing pressure in the broader market. No housing value data was available for this area at the time of this report, so a gross yield calculation cannot be provided. Investors should source current comparable home values independently to assess entry-cost feasibility. The investability score of 52.9 out of 100 reflects a market with moderate, not standout, return characteristics.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Lake Elsinore guests booked an average of 37.7 days in advance in April 2026, and stays averaged 4.89 nights. The nearly 38-day booking window gives operators a meaningful pricing opportunity: rates set at the time of booking can reflect current market conditions, and last-minute discounts are less necessary than in markets with very short lead times.
A nearly five-night average length of stay is moderately extended for an urban-fringe leisure market, suggesting guests are planning multi-night lake and recreation trips rather than single-night stopovers. This supports slightly higher cleaning fees amortized over more nights and reduces the turnover burden compared to markets dominated by two-night weekenders.
For pricing strategy, operators should consider opening their calendars at least 60 to 90 days in advance to capture early-booking demand while holding some inventory for last-minute premium pricing during peak summer weekends. The combination of a 38-day lead time and 4.9-night stays signals a guest base that plans ahead for extended outdoor recreation weekends.
Short-Term Rental Regulations
Lake Elsinore permits short-term rentals but requires operators to obtain a city-issued Short-Term Rental permit and business license before renting or advertising any property. The program operates under Municipal Code Chapter 5.86, adopted in early 2022 after the city identified a gap in its regulatory framework. Permits are approved by the Director of Administrative Services and expire on December 31 of the year issued, requiring annual renewal.
Operators must collect and remit the city’s 10% Transient Occupancy Tax quarterly, with payments due within 30 days of each reporting period. The ordinance requires a local contact reachable within 60 minutes for complaint response, liability insurance, emergency contact information provided to guests, and adherence to occupancy and noise limits. Consecutive stays over 30 days are prohibited. Permits are non-transferable, meaning a new property owner must obtain their own permit.
There is no cap on annual rental nights, no owner-occupancy requirement, and no primary-residence requirement, which gives investors flexibility to operate non-owner-occupied properties. The exact STR-specific permit fee was not confirmed in available sources; the city’s general business license is $72 per year plus a $25 renewal fee, but an additional STR-specific charge may apply. Enforcement is rated moderate. The city uses a Deckard-hosted online portal for permit applications, renewals, and TOT payments.
Market Comparison
Nationally, STR markets average approximately 55% occupancy and $220 in ADR. Lake Elsinore’s April 2026 occupancy of 54.2% sits just below the national benchmark, while its $208 ADR is also modestly below the national median, reflecting the drive-to market character and price-sensitive regional visitor base.
The revenue growth rate of 4.61% year-over-year is a positive indicator relative to many mature coastal California markets that have seen flat or declining revenue in recent years. The occupancy uptick of 2.64 percentage points also compares favorably against markets experiencing oversaturation.
Among professional operators, Evolve leads the Lake Elsinore market with 88 listings and 1,911 reviews at a 4.58 average rating. New Spirit Vacation Homes holds 60 listings with 3,551 reviews and a 4.46 rating. Vacasa manages 46 listings with 2,851 reviews at a 4.53 rating. These three operators together account for roughly 194 listings, about 2.6% of the estimated market total, indicating that the Lake Elsinore market is not heavily consolidated and individual operators and small management companies make up the majority of supply.
Frequently Asked Questions About Lake Elsinore, California
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