Marathon, Florida Short-Term Rental Market
Marathon, FL STRs averaged $528/night at 59.3% occupancy in April 2026, one of the highest-ADR markets in the Florida Keys.
Quick Answer: Marathon, Florida is an active short-term rental market. average occupancy is 64%. average monthly revenue is $8,168. average daily rate is $485. the top operator is Vacasa with 337 listings. market score is 57/100 (grade C).
Market data reflects the Key West regional market, which includes Marathon. Regulations, taxes, and permit details below are specific to Marathon.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Marathon is a city of 9,914 residents in the Middle Florida Keys (Monroe County), sharing in the Keys’ broader tourism economy. The STR market tracked for this area covers approximately 9,047 active listings across the Middle Keys corridor. In April 2026, listings averaged $528.29 per night with 59.3% occupancy, generating an average of $8,623 per listing per month. RevPAR stood at $313.22.
Entire-place listings account for 8,895 of 9,047 listings (98.3%). Private rooms total 152 (1.7%). By bedroom count, two-bedroom units lead at 3,517 (38.9% of bedroom-tracked listings), followed by three-bedrooms at 2,339 (25.9%), one-bedrooms at 1,569 (17.4%), four-bedrooms at 1,067 (11.8%), and five-plus-bedroom properties at 539 (6.0%).
VRBO has a notably strong presence here. Of 9,047 listings, 5,301 (58.6%) are listed on both Airbnb and VRBO, 2,224 are VRBO-only, and 1,522 are Airbnb-only.
Year-over-year, occupancy declined 2.66 percentage points while ADR rose 3.89% and revenue grew 2.64%. The revenue growth score is an exceptionally high 88.06, reflecting a strong multi-year revenue trajectory.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 65% | $391 | $6,393 |
| Feb | 80% | $417 | $7,544 |
| Mar | 78% | $445 | $8,838 |
| Apr | 59% | $421 | $6,810 |
| May | 59% | $391 | $6,084 |
| Jun | 68% | $401 | $6,697 |
| Jul | 68% | $383 | $6,724 |
| Aug | 50% | $358 | $5,025 |
| Sep | 40% | $341 | $3,927 |
| Oct | 52% | $364 | $4,672 |
| Nov | 58% | $390 | $5,355 |
| Dec | 61% | $434 | $6,437 |
Top Short-Term Rental Operators in Marathon
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Vacasa | 337 | 21,234 | ★ 4.55 |
| 2 | Vacation Rentals of the Florida Keys LLC. | 232 | 4,472 | ★ 4.68 |
| 3 | Brightwild | 208 | 14,851 | ★ 4.62 |
| 4 | Last Key | 156 | 8,230 | ★ 4.89 |
| 5 | Wendy Zintsmaster and Team | 133 | 5,749 | ★ 4.81 |
What Kind of STR Should I Buy in Marathon?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 1,569 |
| 2 bed | 3,517 |
| 3 bed | 2,339 |
| 4 bed | 1,067 |
| 5 bed | 539 |
ADR by Property Tier
| Entire Home | $488 |
| Luxury | $952 |
| Professionally Managed | $576 |
Revenue by Dwelling Type
| Apartment | $6,387 |
| Entire Place | $8,235 |
| House | $9,605 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 16.8% |
| vrbo | 24.6% |
| both | 58.6% |
Investment Analysis
At a typical home value of $824,970 and average monthly revenue of $8,623 in April 2026, annualized gross revenue projects to approximately $103,471, implying a gross yield of roughly 12.5% before expenses. Using the 2025 annual average revenue of $7,499 per month produces a gross yield of approximately 10.9% on a full-year basis (2025 annual average). Both figures reflect a high-revenue market relative to entry cost.
ADR segmentation shows extreme stratification. All-listings ADR was $528/night in April 2026. Entire-home listings averaged $532/night. Professionally managed properties averaged $664/night, a 26% premium. The luxury tier commanded $1,049/night, nearly double the all-listings rate.
Revenue by property type shows houses generating $9,382/month and entire-place listings $8,670/month, both well above the all-listings average of $8,623. Apartment-type units also performed strongly at $8,151/month.
Annual average revenue was $7,262 in 2022, $7,126 in 2023, $7,131 in 2024, and $7,499 in 2025, showing relative stability from 2022 through 2024 followed by a stronger 2025. The early 2026 tracking (Jan-Apr average: $9,623/month) suggests 2026 may outperform 2025 significantly, though this includes the high-season winter months.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Travelers in the Marathon area book an average of 83.33 days (nearly 12 weeks) in advance. This is one of the longest booking lead times in the dataset, reflecting the high demand and limited supply characteristics of the Florida Keys. Operators should hold firm pricing far in advance and avoid early discounting.
Average length of stay is 4.82 nights across the broader market area. Note that properties within Marathon city limits must comply with the 7-night minimum stay rule; the 4.82-night average likely reflects the mix of city-regulated and county-unincorporated properties across the broader Middle Keys footprint.
With a 12-week booking window, operators have substantial advance visibility. Peak winter weeks (February and March) routinely fill 10 to 12 weeks out. Dynamic pricing should be loaded well in advance for these months, with rate holds enforced through the entire window.
Short-Term Rental Regulations
Marathon regulates short-term rentals under a strict licensing framework. Rentals of fewer than 7 nights are prohibited within the city. Vacation rentals must be a minimum of 7 and a maximum of 28 consecutive nights.
Operators must hold multiple licenses: a City of Marathon Vacation Rental Property License (fee raised in 2024 to approximately $1,200 for a new 1-bedroom unit, scaling upward by bedroom count, with $100 increments for 2-bedroom and smaller, $200 for larger units), a Florida DBPR Vacation Rental license, a Florida state sales tax certificate, and a Monroe County Business Tax Receipt with a Tourist Development Tax account. A licensed Vacation Rental Agent is required; if the owner resides more than one hour from Marathon, a local contact must also be designated. The license number must appear on all advertising.
Lodging taxes are substantial: Monroe County levies a 5% Tourist Development Tax on top of Florida’s 7.5% state sales and use tax, for approximately 12.5% total on transient rentals.
Enforcement is aggressive. Violations carry fines up to $500 per day, per unit, per violation. Three violations within 12 months suspend the license for one year, and repeat offenders can face revocation. The city maintains a public license-lookup portal. There is no owner-occupancy or primary-residence requirement.
Market Comparison
The U.S. STR market median occupancy runs near 55% and median ADR near $220. Marathon’s April 2026 occupancy of 59.3% exceeds the national median and its $528 ADR is more than double it. RevPAR of $313.22 places this market among the highest-performing STR destinations in the U.S.
At a gross yield of approximately 10.9% (2025 annual average basis, before expenses), Marathon offers strong revenue productivity despite high entry costs (typical home value: $824,970). The regulation score of 56.63 reflects the permit complexity and strict enforcement environment.
Among professional operators, Vacasa leads with 337 listings and 21,234 reviews at a 4.55 average rating. Vacation Rentals of the Florida Keys LLC manages 232 listings (4.68 rating, 4,472 reviews). Brightwild operates 208 listings (4.62 rating, 14,851 reviews). Together the top three account for approximately 777 listings, or about 8.6% of the market’s 9,047 total listings.
Frequently Asked Questions About Marathon, Florida
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