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  4. Crested Butte

Crested Butte, Colorado

Short-Term Rental Market Data & Investment Analysis

Crested Butte, Colorado Short-Term Rental Market

Crested Butte caps Unlimited STR licenses at 198, with September 2026 ADR of $403, 51.3% occupancy and $5,254 monthly revenue.

Quick Answer: Crested Butte, Colorado is an active short-term rental market. average occupancy is 51%. average monthly revenue is $5,254. average daily rate is $403. the top operator in Crested Butte is Alpine Property Management Crested Butte with 90 listings. market score is 43/100 (grade D).

Avg Monthly Revenue
$5,254
↑ 21.4% YoY
51%
Occupancy
↑ 9.8% YoY
$403
Avg Daily Rate
↑ 12.3% YoY
66.6 days avg lead time3.4 avg length of stay

Market Score Breakdown

Five dimensions StaySTRA evaluates per market.

Regulation74
Seasonality43
Investability73
Rental Demand55
Revenue Growth52

Market Overview

Crested Butte, Colorado is a ski and summer mountain market with a population of 1,643 and roughly 750,000 annual visitors to the Gunnison-Crested Butte valley. This page uses data through September 2026. In that month the average Crested Butte short-term rental earned an ADR of $403, occupancy of 51.3% and monthly revenue of $5,254. Compared with September 2025, occupancy is up 9.8%, ADR is up 3.7% and revenue is up 21.3%. The market is also regulated: the Town of Crested Butte caps Unlimited vacation rental licenses at 198, which limits how much new supply can enter.

The Crested Butte area STR market tracks 1,445 listings. Entire places account for 1,397 of them (96.7%) and private rooms for 48. By bedroom count, 3 bedroom homes are the largest group at 411 listings, followed by 2 bedroom at 405, 1 bedroom at 326, 4 bedroom at 209 and 5 bedroom at 93. On distribution, 971 listings appear on both Airbnb and Vrbo, 321 are Airbnb only and 153 are Vrbo only.

Winter dominates demand, with snow sports accounting for 66% of visit purposes, and Crested Butte Mountain Resort anchors that season with more than 1,500 acres of terrain. Summer brings mountain bikers, hikers and the July Wildflower Festival. Colorado residents make up 39% of visitors and Texans 13%. Annual results show the market has moved from 41.5% occupancy and a $331 ADR in 2019 to 50.2% occupancy and a $422 ADR across the first nine months of 2026, so rate growth has carried much of the gain.

Seasonal Patterns

Monthly seasonal data for Crested Butte, Colorado
MonthOccupancy
Jan49%
Feb62%
Mar61%
Apr11%
May38%
Jun62%
Jul75%
Aug53%
Sep49%
Oct25%
Nov19%
Dec62%

Month-by-month nightly rates and revenue figures for Crested Butte are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.

Top Short-Term Rental Operators in Crested Butte

Ranked by total active listings. Useful for understanding the competitive landscape.

#OperatorListingsReviewsRating
1Alpine Property Management Crested Butte906,402★ 4.92
2Iron Horse Property Management791,481★ 4.89
3RedAwning70583★ 4.44
4Peak Property Management And Sales651,286★ 4.81
5Crested Butte Lodging552,321★ 4.64

What Kind of STR Should I Buy in Crested Butte?

Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Crested Butte are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.

Booking Channel Mix

Distribution of bookings across major STR platforms.

Channel mix
ChannelShare
airbnb22.2%
vrbo10.6%
both67.2%

Investment Analysis

The full investment analysis for Crested Butte — gross-yield math against current home values, plus 5-year monthly revenue, nightly-rate, and occupancy trend charts — is available to StaySTRA Pro members and updates monthly. The figures shown elsewhere on this page are the free market snapshot.

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Home Value Trends (Crested Butte)

Typical home values, median sale prices, and the 10-year price trend for Crested Butte are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.

Booking Insights

Booking-window and length-of-stay analysis for Crested Butte — how far ahead guests book and how to price around it — is available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.

Short-Term Rental Regulations

Short-term rentals are permitted in the Crested Butte area, but a license is required and enforcement is rated strict. The area covers two municipalities with different rules.

Town of Crested Butte: the Unlimited License costs $800 per year, renews annually through an October window and has no limit on rental nights. It is capped at 198 licenses townwide, with no more than 2 Unlimited licenses per block face. With 189 licenses active, fewer than 10 slots remain in qualifying blocks. Unlimited licenses are limited to the R1, R1A, R1C, R1D, R1E, R2, R2C, R3C, B3 and B4 zones and are not transferable on sale. The Primary Occupancy License costs $250 per year, is for owners who live in the property at least 6 months per year, has no quantity cap and limits rentals to 90 nights per calendar year. Three verified violations, such as noise or occupancy, trigger revocation and a 2 year ban.

Town of Mt. Crested Butte: any property rented for 29 nights or fewer needs a license at $400 per year, valid through the calendar year. There is no cap on licenses, no owner-occupancy requirement and no documented zoning restriction. An inspection is required on the initial application.

Taxes: the total tax on vacation rentals in the Town of Crested Butte is 20.9%, including a 7.5% excise tax that funds affordable housing, and it is remitted through MUNIRevs. Mt. Crested Butte voters approved an excise tax increase from 2.9% to 4.9% in November 2024, bringing its total to about 18.8%.

Market Comparison

Crested Butte is a high-rate, moderate-occupancy market. The September 2026 ADR of $403 and occupancy of 51.3% produce average monthly revenue of $5,254.

The market is also tightly concentrated among professional operators. Alpine Property Management Crested Butte leads with 90 listings and a 4.919 rating across 6,402 reviews. Iron Horse Property Management has 79 listings (4.894), RedAwning has 70 (4.436), Peak Property Management And Sales has 65 (4.808) and Crested Butte Lodging has 55 (4.636). Together the five operators manage 359 listings, about 25% of the 1,445 tracked.

The market scores 74.4 out of 100 on regulation and 73.2 on investability, but 42.7 on seasonality, which matches the sharp swings between ski season, July and the shoulder months. Its overall market score is 42.7.

Frequently Asked Questions About Crested Butte, Colorado

What is the average Airbnb ADR in Crested Butte?
Crested Butte short-term rentals average $403 per night across all listing types. Nightly-rate breakdowns by property tier are available with StaySTRA Pro.
What is the occupancy rate for short-term rentals in Crested Butte?
Occupancy was 51.3% in September 2026, up 9.8% from a year earlier. July is the strongest month on average at 74.7% and April the weakest at 10.9%.
Are short-term rentals allowed in Crested Butte?
Yes, with a license. The Town of Crested Butte caps Unlimited licenses at 198 ($800 per year) and offers uncapped Primary Occupancy licenses ($250 per year) limited to 90 rental nights. Mt. Crested Butte requires a $400 license with no cap.
What is the gross rental yield in Crested Butte?
The gross yield is 3.4%, based on seasonal-sum annual revenue of $50,628 against a typical home value of $1,490,878.
What are the best and worst months for Crested Butte rentals?
March earns the most revenue at $7,298 per listing, and July has the highest occupancy at 74.7%. November earns the least at $1,572, with 19.2% occupancy.
What taxes apply to short-term rentals in Crested Butte?
The total tax on vacation rentals in the Town of Crested Butte is 20.9%, including a 7.5% excise tax for affordable housing. Mt. Crested Butte’s total is about 18.8% following a November 2024 vote.
How far ahead do guests book in Crested Butte?
The average lead time is 66.6 days and the average stay is 3.35 nights.
Crested Butte, ColoradoRev $5,254ADR $403Occ 51%Score D (43)

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Table of Contents

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Quick Facts: Crested Butte

Avg Daily Rate
$403
Occupancy Rate
51%
Avg Revenue/Mo
$5,254
Population
1,643

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