Cripple Creek, Colorado Short-Term Rental Market
Cripple Creek, CO STR market averaged $179/night at 40.9% occupancy in April 2026, with a gross yield near 8.1% against a $325,230 typical home value.
Quick Answer: Cripple Creek, Colorado is an active short-term rental market. average occupancy is 41%. average monthly revenue is $2,184. average daily rate is $179. the top operator is Evolve with 552 listings. market score is 66/100 (grade C).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
The Cripple Creek short-term rental market sits at the edge of a historic Colorado gold mining district at roughly 9,500 feet elevation, about 45 miles southwest of Colorado Springs. The market recorded an average daily rate of $179 and occupancy of 40.9% in April 2026, producing average monthly revenue of approximately $2,184. RevPAR stood at $73 for that month.
The listing mix skews heavily toward entire-place rentals: the market dimension data shows 10,363 entire-place listings versus 718 private rooms and just 5 shared rooms. Bedroom distribution is relatively even across the 1- to 3-bedroom range, with 1-bedroom units (3,546 listing-months) and 3-bedroom units (3,016) roughly matching, and 2-bedroom units at 2,834. Larger properties (4-bedroom: 1,120; 5-bedroom: 549) make up a smaller share.
Channel distribution shows 4,608 Airbnb-only listings, 916 VRBO-only, and 5,562 listed on both platforms, indicating that multi-channel distribution is common among the more established operators.
Year-over-year trends are modestly positive. Occupancy increased 2.5% from the prior year comparable period, ADR grew 2.9%, and revenue grew 2.3%. The longer trend since 2017 shows average annual revenue growing from $1,937 to $3,240 in 2025, with a post-2021 normalization after the pandemic surge. The market has maintained occupancy in the 53-55% annual average range from 2023 through 2025, suggesting a relatively stable demand base.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 42% | $188 | $2,294 |
| Feb | 50% | $191 | $2,371 |
| Mar | 54% | $193 | $2,841 |
| Apr | 41% | $155 | $1,934 |
| May | 57% | $171 | $2,268 |
| Jun | 67% | $208 | $3,431 |
| Jul | 72% | $216 | $4,203 |
| Aug | 63% | $203 | $3,572 |
| Sep | 59% | $191 | $3,034 |
| Oct | 51% | $175 | $2,542 |
| Nov | 45% | $167 | $1,987 |
| Dec | 51% | $200 | $2,555 |
Top Short-Term Rental Operators in Cripple Creek
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 552 | 34,985 | ★ 4.77 |
| 2 | Vacasa | 205 | 11,102 | ★ 4.60 |
| 3 | Vacation Rental Collective | 163 | 8,326 | ★ 4.83 |
| 4 | Pinon Vacation | 111 | 8,000 | ★ 4.82 |
| 5 | VIP Vacation Services | 94 | 3,082 | ★ 4.83 |
What Kind of STR Should I Buy in Cripple Creek?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 3,546 |
| 2 bed | 2,834 |
| 3 bed | 3,016 |
| 4 bed | 1,120 |
| 5 bed | 549 |
ADR by Property Tier
| Entire Home | $185 |
| Luxury | $327 |
| Professionally Managed | $210 |
Revenue by Dwelling Type
| Apartment | $1,715 |
| Entire Place | $2,260 |
| House | $2,354 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 41.6% |
| vrbo | 8.3% |
| both | 50.2% |
Investment Analysis
The most direct entry-cost signal available is the typical home value of $325,230 (Zillow, April 2026 snapshot), with the median list price at $355,000 and 44 active for-sale listings. Against an average monthly revenue of $2,184, the implied gross yield is approximately 8.1% annualized ($26,202 / $325,230). That figure covers all listing types and does not account for operating expenses, management fees, vacancies, or capital costs.
Revenue by listing type varies meaningfully. Houses average $2,354/month, entire-place listings average $2,260/month, and apartments average $1,715/month. Professionally managed listings average $210/night ADR versus the market-wide $179, a 17% premium that reflects either property quality selection bias or the benefit of active pricing management. Luxury tier listings average $327/night ADR.
The annual revenue trend supports modest optimism: average annual revenue grew from $3,000 in 2023 to $3,165 in 2024 and $3,240 in 2025. The 2020-2021 surge peaked at $3,215 (2021), and the market has returned to and slightly exceeded that level. YoY growth in April 2026 is running positive across occupancy, ADR, and revenue, though all three are in the low single digits (2-3%).
The 35-license cap on non-owner-occupied STRs in Cripple Creek limits supply-side competition but also creates a barrier to entry. New investors must either purchase an existing licensed property or enter the lottery for a license when one becomes available. This structural constraint is a meaningful factor when underwriting.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
The average booking lead time is 40 days ahead of arrival. The average length of stay is 3.76 nights. Both figures reflect the short-trip pattern documented in the visitor profile: Cripple Creek sits about 45 miles from Colorado Springs, drawing a significant share of short-stay casino visitors alongside regional outdoor travelers.
A 40-day lead window gives operators a meaningful pricing management opportunity. Rates can be set at a premium for the first 30-40 days before arrival, with a decay strategy for unsold inventory inside 2 weeks. Given that the average stay is under 4 nights, turnover frequency is relatively high, which increases cleaning and operational costs per occupied night.
For availability strategy, the short lead time and sub-4-night stays suggest that blocking dates more than 60-90 days out for personal use has limited revenue impact compared to markets with longer lead times. Dynamic pricing tools can capture last-minute demand inside the 40-day window, where price-sensitive casino visitors may book opportunistically.
Short-Term Rental Regulations
Cripple Creek requires every short-term rental (defined as a property rented for 1 to 29 consecutive days) to hold a city STR license under Ordinance 2022-10. License fees are tiered: $150 for the initial license, $75 for the second-year renewal, and $25 per year thereafter. Each license expires December 31 and requires an annual renewal.
A building and fire department inspection is required before a new license is issued, and renewals require an inspection every two years. The city enforces a cap on non-owner-occupied STR licenses that began at 28 units and was extended to 35. Owner-occupied properties operating a single STR do not count against the cap. The cap increases by one for every 20 net new housing units added to the city stock, and licenses above the cap are awarded by lottery.
STR operators must collect applicable sales and lodging taxes. The combined state, county, and city sales tax rate in Cripple Creek is 7.2% (2.9% Colorado state, 1.0% Teller County, 3.3% city). Colorado treats accommodation rentals under 30 days as taxable lodging. The enforcement severity is listed as high, consistent with the city stated proximity enforcement policy and the 2021 moratorium history.
Owner-occupation is not required (confirmed in the profile data), and primary residence is not required, so non-resident investors can hold licenses subject to the cap and lottery constraints.
Market Comparison
Against U.S. STR benchmarks, this market April 2026 ADR of $179 is below the national median of approximately $220, and the 40.9% occupancy for April is below the U.S. STR median of roughly 55% annually (April is a trough month for this market, so the annual average of approximately 54% is closer to the national median). The $73 RevPAR for April reflects the seasonal trough position.
The market gross yield of approximately 8.1% compares favorably to many U.S. STR markets where typical home values have risen faster than rental rates. The $325,230 typical home value is relatively accessible compared to coastal or mountain resort markets where entry costs exceed $700,000-$1,000,000.
The top five property managers in this market dataset are Evolve (552 listings, 34,985 reviews, 4.77 average rating), Vacasa (205 listings, 11,102 reviews, 4.60 average rating), Vacation Rental Collective (163 listings, 8,326 reviews, 4.83 average rating), Pinon Vacation (111 listings, 8,000 reviews, 4.82 average rating), and VIP Vacation Services (94 listings, 3,082 reviews, 4.83 average rating). Evolve 552 listings represent the largest single operator footprint in the dataset.
The regulatory cap of 35 non-owner-occupied licenses distinguishes Cripple Creek from most markets of its size. Most comparably small markets (populations under 2,000) do not have formal license caps, making Cripple Creek more regulated than typical rural Colorado STR markets.
Frequently Asked Questions About Cripple Creek, Colorado
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