Cedar Rapids, Iowa Short-Term Rental Market
Cedar Rapids STRs averaged $137/night at 51.4% occupancy in April 2026, with revenue up 8.5% year-over-year.
Quick Answer: Cedar Rapids, Iowa is an active short-term rental market. average occupancy is 51%. average monthly revenue is $1,824. average daily rate is $137. the top operator is Evolve with 93 listings. market score is 76/100 (grade B).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Cedar Rapids, Iowa’s second-largest city with a population of 137,904, supports a short-term rental market of approximately 6,200 active listings. Entire-place rentals dominate the mix at 5,621 listings (90.6% of all units), with private rooms accounting for 579 additional options. In April 2026, the market posted an average daily rate of $137 and occupancy of 51.4%, producing a RevPAR of $70. Year-over-year performance has been positive across all three key metrics: occupancy gained 7.1 percentage points, ADR rose 2.8%, and average monthly revenue grew 8.5%.
The bedroom mix spans all size tiers, with 1-bedroom units leading at 1,959 listings, followed by 2-bedrooms (1,706), 3-bedrooms (1,427), 4-bedrooms (705), and 5-bedroom-plus properties (399). Distribution skews heavily toward Airbnb, which accounts for 3,641 single-channel listings; another 2,086 properties are listed on both Airbnb and VRBO, while 475 list exclusively on VRBO. The market’s overall investment score is 76.2 out of 100, with investability scoring particularly high at 84.4 and rental demand at 78.5.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 41% | $112 | $1,337 |
| Feb | 45% | $109 | $1,305 |
| Mar | 50% | $110 | $1,494 |
| Apr | 50% | $116 | $1,526 |
| May | 54% | $135 | $1,802 |
| Jun | 61% | $172 | $2,743 |
| Jul | 64% | $180 | $3,161 |
| Aug | 57% | $169 | $2,721 |
| Sep | 50% | $143 | $1,946 |
| Oct | 50% | $133 | $1,893 |
| Nov | 48% | $123 | $1,630 |
| Dec | 46% | $120 | $1,578 |
Top Short-Term Rental Operators in Cedar Rapids
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 93 | 2,760 | ★ 4.64 |
| 2 | Okoboji Vacation Co. | 59 | 975 | ★ 4.69 |
| 3 | 228 Spaces | 36 | 1,026 | ★ 4.76 |
| 4 | CR Short Stays | 30 | 2,429 | ★ 4.86 |
| 5 | Iowa Cabin Rentals | 23 | 378 | ★ 4.20 |
What Kind of STR Should I Buy in Cedar Rapids?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 1,959 |
| 2 bed | 1,706 |
| 3 bed | 1,427 |
| 4 bed | 705 |
| 5 bed | 399 |
ADR by Property Tier
| Entire Home | $144 |
| Luxury | $259 |
| Professionally Managed | $151 |
Revenue by Dwelling Type
| Apartment | $1,516 |
| Entire Place | $1,918 |
| House | $2,036 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 58.7% |
| vrbo | 7.7% |
| both | 33.6% |
Investment Analysis
Cedar Rapids offers a mid-market entry point for STR investors. At an average of $1,824 in monthly revenue as of April 2026, an investor running a property full-time would see approximately $21,900 in annualized gross revenue. No Zillow housing snapshot was available at the time of data pull, so a precise gross yield calculation cannot be provided; investors should source current listing prices independently to model returns.
The ADR spread by tier is meaningful: the overall market average is $137, professionally managed listings average $151 (a 10.4% premium), entire-home listings average $144, and luxury-tier properties reach $258. This gap suggests that professional management and upscale positioning add measurable revenue per night. Houses produce the highest average monthly revenue at $2,036, compared to $1,918 for entire places broadly and $1,516 for apartments.
Revenue growth has been consistent: annual average revenue climbed from $1,437 in 2018 to $2,213 in 2022 before stabilizing in the $2,175-$2,228 range through 2025. The market’s investability score of 84.4 reflects strong underlying demand fundamentals, though the regulation score of 62.3 notes that Iowa’s state preemption law simplifies compliance considerably.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Cedar Rapids guests book an average of 40.6 days in advance, a mid-range lead time that reflects a mix of business travel (often booked closer to the stay date) and leisure trips planned weeks ahead. This booking window gives hosts a clear 5-6 week view of near-term demand, supporting dynamic pricing adjustments before the reservation window closes.
The average length of stay is 4.4 nights, which positions Cedar Rapids in a mid-length segment. This duration reduces per-reservation turnover costs compared to markets that average 2-3 nights, while still allowing for higher per-night rates than extended-stay properties. At 4.4 nights, a 30-day month supports roughly 6-7 distinct guest stays at full occupancy.
For pricing strategy, the 40-day lead time suggests setting peak-season rates at their target level at least 45 days out, then applying last-minute discounts starting around the 10-day mark if occupancy falls below target. The 4.4-night average stay also makes minimum-stay policies of 3-4 nights practical without meaningfully suppressing bookings.
Short-Term Rental Regulations
Cedar Rapids operates under Iowa’s statewide short-term rental preemption law (House File 2641, enacted 2020, codified at Iowa Code 414.1). Under this law, cities and counties must treat any dwelling rented for 30 days or less as a residential land use and may not prohibit STRs, require an STR-specific permit or license, or impose STR-specific fees. Cedar Rapids has no standalone STR ordinance, no permit requirement, no owner-occupancy or primary-residence mandate, and no annual night cap.
The primary compliance obligations are tax and housing code. Stays of 30 days or less are subject to Iowa’s 5% state hotel/motel excise tax plus Cedar Rapids’ 7% local hotel/motel tax, for a combined 12% occupancy tax rate. Hosts must register with the Iowa Department of Revenue to collect and remit these taxes. Cedar Rapids’ general rental housing code also requires rental properties to be registered and to pass Housing Quality Standards safety inspections (Certificate of Compliance); these requirements apply equally to STRs and traditional rentals.
Enforcement is classified as minimal. Standard nuisance, noise, and parking rules remain in effect but are applied the same way as for any residential property. No zoning overlay or density cap specific to STRs was found. Investors should confirm current rental-registration and inspection requirements directly with Cedar Rapids Code Enforcement, as local administrative procedures can change independently of state preemption.
Market Comparison
Cedar Rapids’ April 2026 occupancy of 51.4% sits near the U.S. STR market median of approximately 55%, while its ADR of $137 is well below the national median of roughly $220. This places Cedar Rapids in the affordable-market segment, where lower nightly rates are offset by consistent demand from a regional business and convention economy. The market’s investability score of 84.4 compares favorably to the national benchmark.
The operator landscape is led by Evolve, which manages 93 listings with 2,760 reviews and a 4.64 average rating — representing approximately 1.5% of total market listings. Okoboji Vacation Co. holds 59 listings (4.69 rating, 975 reviews), 228 Spaces operates 36 listings (4.76 rating, 1,026 reviews), and CR Short Stays runs 30 listings with the highest local rating at 4.86 across 2,429 reviews. Iowa Cabin Rentals rounds out the top five with 23 listings. Combined, the top 5 operators hold 241 listings, or roughly 3.9% of total market supply, indicating a fragmented market where independent hosts remain dominant.
Frequently Asked Questions About Cedar Rapids, Iowa
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