Mary Esther, Florida Short-Term Rental Market
Mary Esther, FL STRs averaged $359 per night at 58.9% occupancy in April 2026, with peak-season houses earning $8,063 in average monthly revenue.
Quick Answer: Mary Esther, Florida is an active short-term rental market. average occupancy is 83%. average monthly revenue is $11,801. average daily rate is $526. the top operator is Vacasa with 1,322 listings. market score is 59/100 (grade C).
Market data reflects the Destin/Ft. Walton Beach regional market, which includes Mary Esther. Regulations, taxes, and permit details below are specific to Mary Esther.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
The Mary Esther STR market spans approximately 11,530 listings in the latest snapshot. Entire-place listings account for 11,408 (99.0% of the market) and private-room rentals for 122 (1.1%); no shared rooms appear. By bedroom count, two-bedroom units are most common (4,454), reflecting the Emerald Coast’s demand for vacation accommodations sized for small groups. One-bedroom (2,933), three-bedroom (2,493), five-plus bedroom (785), and four-bedroom (855) follow.
In April 2026, the market reported an average daily rate of $359 and occupancy of 58.9%, producing a RevPAR of $212. Average monthly revenue per active listing was $5,611. Year-over-year, the market was nearly flat: occupancy declined 0.89 percentage points, ADR fell 0.54%, and revenue declined 2.71%.
Annual performance has been improving on a multi-year basis. Annual average occupancy was 61.44% in 2023 (ADR $299, monthly revenue $5,001), recovering to 57.66% in 2024 (ADR $343, monthly revenue $5,582) and 58.68% in 2025 (ADR $345, monthly revenue $5,786). The 2025 annual average of $5,786 per month represents approximately $69,432 annualized.
VRBO is the dominant channel for exclusive listings, with 1,624 VRBO-only listings versus 1,487 Airbnb-only, and 8,419 properties listed on both platforms. The VRBO-heavy mix reflects the Emerald Coast vacation market’s longstanding VRBO relationship for beach houses and larger units.
Market scores: investability 92.7 and rental demand 92.6 are the highest in this batch of 10 markets, indicating exceptionally strong investor and demand fundamentals. The seasonality score of 42.3 reflects the market’s wide peak-to-trough swing.
Mary Esther is a small residential city (population 4,061) in Okaloosa County on Florida’s Emerald Coast, situated between Fort Walton Beach and Navarre and adjacent to Hurlburt Field Air Force Special Operations Command. The Zillow typical home value is $324,774 and the median list price is $344,567, with 120 properties currently listed for sale and a median of 35 days to pending.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 37% | $209 | $2,097 |
| Feb | 64% | $219 | $2,825 |
| Mar | 69% | $314 | $4,795 |
| Apr | 55% | $318 | $4,753 |
| May | 68% | $358 | $6,190 |
| Jun | 82% | $426 | $8,982 |
| Jul | 81% | $390 | $8,326 |
| Aug | 61% | $316 | $5,486 |
| Sep | 55% | $273 | $4,135 |
| Oct | 57% | $258 | $3,811 |
| Nov | 35% | $217 | $2,215 |
| Dec | 31% | $239 | $2,063 |
Top Short-Term Rental Operators in Mary Esther
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Vacasa | 1,322 | 54,478 | ★ 4.52 |
| 2 | RealJoy | 464 | 21,248 | ★ 4.57 |
| 3 | Holiday Isle Properties | 394 | 4,766 | ★ 4.79 |
| 4 | Compass Resorts | 389 | 6,532 | ★ 4.76 |
| 5 | Scenic Stays | 252 | 7,279 | ★ 4.49 |
What Kind of STR Should I Buy in Mary Esther?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,933 |
| 2 bed | 4,454 |
| 3 bed | 2,493 |
| 4 bed | 855 |
| 5 bed | 785 |
ADR by Property Tier
| Entire Home | $529 |
| Luxury | $723 |
| Professionally Managed | $561 |
Revenue by Dwelling Type
| Apartment | $10,589 |
| Entire Place | $11,883 |
| House | $16,968 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 12.9% |
| vrbo | 14.1% |
| both | 73% |
Investment Analysis
The 2025 annual average monthly revenue of $5,786 projects to approximately $69,432 annualized. At the Zillow typical home value of $324,774, the implied gross revenue yield is approximately 21.4%. Against the median list price of $344,567, the implied yield is approximately 20.1%. These figures represent gross revenue before management fees, taxes, vacancy beyond booked-night gaps, maintenance, and HOA or insurance costs.
The standout data point is house revenue: single-family houses average $8,063 per month, compared to $5,638 for entire-place listings and $5,077 for apartment-style rentals. Investors specifically targeting single-family beach house conversions can expect materially higher revenue per property.
The ADR tier structure in April 2026:
– Market average: $359 per night
– Entire-home tier: $361 per night (1% above market)
– Professionally managed tier: $379 per night (6% above market)
– Luxury tier: $524 per night (46% above market)
The investability score of 92.7 and rental demand score of 92.6 are the highest readings in this batch of 10 markets. This reflects the combination of high nightly rates, strong summer occupancy, and the market’s Emerald Coast positioning.
Mary Esther requires an FL DBPR vacation rental license, a city business tax receipt, and Okaloosa County TDT registration. The combined lodging tax of approximately 13% should be built into revenue projections. Investors should note that the typical home value represents all residential properties, not just STR-quality beach houses; actual acquisition costs for prime vacation rental properties may differ from the Zillow benchmark.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Mary Esther STR guests book an average of 55.1 days (approximately 7.9 weeks) in advance. This relatively long booking window reflects the planned character of Emerald Coast beach vacations: June and July summer trips are typically booked months ahead as travelers coordinate schedules and secure preferred properties.
The average length of stay is 4.42 nights, consistent with the beach vacation pattern of arriving Saturday or Sunday and staying through the week. Longer stays reduce turnover frequency and associated cleaning costs per occupied night.
For operators, the nearly 8-week booking window means there is strong opportunity to lock in high summer rates for June and July well before the season begins. Operators should set peak rates for the summer window by January or February and hold firm on those rates through at least 3 weeks before arrival. The VRBO-dominant market means listing optimization and reviews on VRBO should be prioritized alongside Airbnb. Minimum stays of 5 to 7 nights during peak season (June and July) are common in Emerald Coast beach markets and reduce the risk of mid-week gap nights.
Short-Term Rental Regulations
Short-term rentals are legal in Mary Esther under a layered framework. Florida Statute 509.032 preempts local governments from prohibiting STRs or regulating rental duration and frequency (absent a grandfathering ordinance predating June 1, 2011, which none was found for Mary Esther). The City of Mary Esther has not enacted a ban or duration restriction.
To operate legally, owners need:
1. A Florida DBPR Vacation Rental (Dwelling or Condo) license from the Division of Hotels and Restaurants, required for any dwelling rented for periods under 30 days more than three times per year. This must be renewed annually and the license number must appear in all listings.
2. A City of Mary Esther Business Tax Receipt, applied for at City Hall (fees per city ordinance Section 13-18). A fire inspection is required before service activates.
3. A Okaloosa County Business Tax Receipt is also required.
4. Registration with the Okaloosa County TDT portal (okaloosatouristtax.munirevs.com) for Tourist Development Tax collection.
The combined lodging tax burden is approximately 13%: Florida state sales tax (6%), Okaloosa County discretionary sales surtax (approximately 1%), and the Okaloosa County Tourist Development Tax (6%, increased from 5% in recent years). Airbnb and VRBO collect portions of these taxes automatically in some cases.
There are no owner-occupancy or primary-residence requirements and no confirmed maximum-nights cap. Enforcement involves city code enforcement, state DBPR licensing checks, and county tax compliance. The city’s enforcement posture is described as moderate. Investors should confirm exact business tax receipt fees with the city before listing.
Market Comparison
Mary Esther’s 58.9% occupancy in April 2026 is above the U.S. STR median of approximately 55%. The $359 April ADR substantially exceeds the national median of approximately $220. The 2025 annual average occupancy of 58.68% and ADR of $345 represent even stronger sustained performance.
The investability score of 92.7 and rental demand score of 92.6 are the highest readings among all 10 markets in this batch, reflecting the Emerald Coast’s consistently strong vacation demand. The seasonality score of 42.3 is the lowest in this batch, flagging the wide peak-to-trough swing investors must manage.
Revenue declined 2.71% year-over-year in the most recent period, a modest correction from 2024’s strong recovery.
The top five property managers in the Mary Esther market are:
1. Vacasa: 1,322 listings, 54,478 reviews, 4.52 rating
2. RealJoy: 464 listings, 21,248 reviews, 4.57 rating
3. Holiday Isle Properties: 394 listings, 4,766 reviews, 4.79 rating
4. Compass Resorts: 389 listings, 6,532 reviews, 4.76 rating
5. Scenic Stays: 252 listings, 7,279 reviews, 4.49 rating
Vacasa leads with 1,322 listings and 54,478 reviews (4.52 rating), an unusually large footprint for a single PM in one market area. Holiday Isle Properties earns the highest rating at 4.79 from 4,766 reviews across 394 listings, indicating strong local performance.
Frequently Asked Questions About Mary Esther, Florida
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