Saint Augustine draws 850,000 annual visitors into a 1,728-listing STR market with a $302 average daily rate and a 50% occupancy floor.
Market Overview
Saint Augustine is one of Florida’s most established short-term rental markets, supported by 850,000 annual visitors to the oldest city in the United States. As of February 2026, the market has 1,728 active listings, down from a peak of approximately 2,105 in early 2025, which may indicate some operator attrition as conditions normalized post-pandemic.
The average daily rate in February 2026 was $301.90, the highest in the dataset’s history for any single month, reflecting steady ADR growth even as occupancy has moderated. Annual ADR has climbed from $220 in 2021 to $304 in early 2026 data points, a 38% increase over five years.
Occupancy tells a different story. The market-wide average occupancy peaked at 69.6% in 2021 and has since declined to roughly 47-50% in 2025-2026. That compression is directly tied to supply growth: active listings expanded from 1,326 in 2021 to nearly 2,100 at the 2025 peak before contracting slightly. Investors entering today face a more competitive supply environment than early-pandemic operators did.
Annual average revenue per listing was $4,452 in 2025 and $4,128 annualized from early 2026 data. The market is not uniformly distributed: top-quartile operators consistently generate multiples of what bottom-quartile operators earn, as the percentile spread in any given month is wide.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue | Active Listings |
|---|---|---|---|---|
| Jan | 53% | $251 | $4,121 | 1,733 |
| Feb | 59% | $252 | $4,411 | 1,732 |
| Mar | 72% | $246 | $6,043 | 1,623 |
| Apr | 63% | $240 | $4,865 | 1,621 |
| May | 58% | $248 | $4,798 | 1,545 |
| Jun | 62% | $258 | $5,360 | 1,667 |
| Jul | 61% | $261 | $5,618 | 1,785 |
| Aug | 53% | $239 | $4,313 | 1,782 |
| Sep | 48% | $235 | $3,675 | 1,778 |
| Oct | 50% | $231 | $3,830 | 1,711 |
| Nov | 53% | $250 | $3,990 | 1,736 |
| Dec | 62% | $272 | $5,255 | 1,734 |
Saint Augustine has a well-defined seasonal rhythm with two distinct peaks and one clear trough.
The spring peak is the strongest. March averages 72.4% occupancy and $6,043 in average monthly revenue per listing, the highest of any month. April holds at 63.0% occupancy and $4,865 in revenue. This spring surge is driven by spring break travel, the historic district’s peak tourist season, and favorable northeast Florida weather.
Summer performs solidly. June and July both average around 61% occupancy, with July delivering the highest ADR at $261. July average revenue of $5,618 is the second-best month of the year. August drops to 52.6% occupancy and $4,313 in average revenue, as summer travel winds down.
December is a secondary peak. The holiday season pushes occupancy to 61.8% and average revenue to $5,255, with the highest ADR in the dataset at $272 average. This reflects Saint Augustine’s well-known Nights of Lights festival, which draws significant winter visitation.
The trough runs from September through October. September averages 47.8% occupancy and only $3,675 in revenue. October sits at 50.2% occupancy and $3,830. These months coincide with the tail end of hurricane season and a lull between summer and holiday travel. Operators who price aggressively in these months can narrow the gap, but demand is structurally lower.
The swing from trough (September, 47.8%) to peak (March, 72.4%) is 24.6 percentage points, which is meaningful for cash flow planning. Properties funded with tight debt service coverage should be stress-tested against September-October performance.
Revenue Breakdown
| Metric | 25th Pctile | Median | 75th Pctile | 90th Pctile |
|---|---|---|---|---|
| Revenue/mo | $2,054 | $3,514 | $5,356 | $7,676 |
| ADR | $184 | $260 | $365 | $505 |
| Occupancy | 30% | 51% | 70% | 85% |
February 2026 data provides a clear picture of how revenue distributes across the Saint Augustine market.
Bottom quartile (p25): $2,054 per month at roughly 30% occupancy and a $183.90 ADR. These properties are underperforming relative to market average, likely due to location, listing quality, or pricing strategy.
Median (p50): $3,514 per month at 51% occupancy and a $259.60 ADR. This is the baseline expectation for a competently run listing.
Top quartile (p75): $5,356 per month at 70% occupancy and a $364.70 ADR. Properties at this level are well-positioned, well-reviewed, and likely in high-demand zones near the historic district or waterfront.
Top decile (p90): $7,676 per month at 85% occupancy and a $504.80 ADR. These are standout performers, likely larger properties or premium locations commanding boutique pricing.
Annualized, median performance projects to roughly $42,162 per year. Top-quartile annualizes to approximately $64,276. Top-decile annualizes to approximately $92,112. The gap between p25 and p90 is more than $5,600 per month, which underscores how much operator skill and property positioning affect outcomes in this market.
Investment Analysis
Revenue Trend
RevPAR & ADR Trend
| Date | Revenue | RevPAR | ADR |
|---|---|---|---|
| Mar 2021 | $6,054 | $195 | $214 |
| Apr 2021 | $5,644 | $188 | $214 |
| May 2021 | $5,828 | $188 | $216 |
| Jun 2021 | $6,119 | $204 | $223 |
| Jul 2021 | $6,317 | $204 | $229 |
| Aug 2021 | $5,636 | $182 | $222 |
| Sep 2021 | $4,807 | $160 | $213 |
| Oct 2021 | $4,882 | $158 | $219 |
| Nov 2021 | $4,702 | $157 | $220 |
| Dec 2021 | $5,502 | $178 | $231 |
| Jan 2022 | $4,723 | $152 | $223 |
| Feb 2022 | $4,901 | $175 | $230 |
| Mar 2022 | $6,304 | $203 | $235 |
| Apr 2022 | $5,470 | $182 | $234 |
| May 2022 | $5,473 | $177 | $241 |
| Jun 2022 | $5,963 | $199 | $239 |
| Jul 2022 | $6,365 | $205 | $248 |
| Aug 2022 | $4,776 | $154 | $218 |
| Sep 2022 | $4,339 | $145 | $217 |
| Oct 2022 | $4,570 | $147 | $215 |
| Nov 2022 | $4,598 | $153 | $220 |
| Dec 2022 | $5,268 | $170 | $227 |
| Jan 2023 | $4,458 | $144 | $216 |
| Feb 2023 | $4,588 | $164 | $217 |
| Mar 2023 | $6,280 | $203 | $235 |
| Apr 2023 | $4,993 | $166 | $226 |
| May 2023 | $4,432 | $143 | $221 |
| Jun 2023 | $4,935 | $165 | $227 |
| Jul 2023 | $5,544 | $179 | $235 |
| Aug 2023 | $3,937 | $127 | $207 |
| Sep 2023 | $3,500 | $117 | $211 |
| Oct 2023 | $2,887 | $93 | $201 |
| Nov 2023 | $3,023 | $101 | $235 |
| Dec 2023 | $4,408 | $142 | $266 |
| Jan 2024 | $3,478 | $112 | $244 |
| Feb 2024 | $4,211 | $145 | $244 |
| Mar 2024 | $5,595 | $181 | $264 |
| Apr 2024 | $3,750 | $125 | $255 |
| May 2024 | $3,925 | $127 | $274 |
| Jun 2024 | $4,653 | $155 | $288 |
| Jul 2024 | $4,620 | $149 | $285 |
| Aug 2024 | $3,393 | $109 | $263 |
| Sep 2024 | $2,785 | $93 | $254 |
| Oct 2024 | $3,235 | $104 | $246 |
| Nov 2024 | $3,541 | $118 | $265 |
| Dec 2024 | $5,306 | $171 | $298 |
| Jan 2025 | $3,794 | $122 | $266 |
| Feb 2025 | $4,251 | $152 | $267 |
| Mar 2025 | $5,980 | $193 | $283 |
| Apr 2025 | $4,469 | $149 | $271 |
| May 2025 | $4,332 | $140 | $290 |
| Jun 2025 | $5,128 | $171 | $313 |
| Jul 2025 | $5,243 | $169 | $310 |
| Aug 2025 | $3,825 | $123 | $285 |
| Sep 2025 | $2,946 | $98 | $280 |
| Oct 2025 | $3,577 | $115 | $275 |
| Nov 2025 | $4,086 | $136 | $309 |
| Dec 2025 | $5,791 | $187 | $338 |
| Jan 2026 | $4,150 | $134 | $305 |
| Feb 2026 | $4,106 | $147 | $302 |
Occupancy vs Supply
| Date | Occupancy | Active Listings |
|---|---|---|
| Mar 2021 | 74% | 1,234 |
| Jun 2021 | 75% | 1,321 |
| Sep 2021 | 64% | 1,349 |
| Dec 2021 | 71% | 1,372 |
| Mar 2022 | 76% | 1,397 |
| Jun 2022 | 70% | 1,866 |
| Sep 2022 | 54% | 1,862 |
| Dec 2022 | 69% | 1,845 |
| Mar 2023 | 78% | 1,826 |
| Jun 2023 | 63% | 1,812 |
| Sep 2023 | 49% | 1,782 |
| Dec 2023 | 54% | 1,632 |
| Mar 2024 | 67% | 1,567 |
| Jun 2024 | 50% | 1,272 |
| Sep 2024 | 37% | 1,931 |
| Dec 2024 | 58% | 2,076 |
| Mar 2025 | 67% | 2,091 |
| Jun 2025 | 51% | 2,062 |
| Sep 2025 | 35% | 1,965 |
| Dec 2025 | 57% | 1,747 |
The core investment question in Saint Augustine is whether ADR growth can offset the occupancy compression caused by supply expansion. The data suggests a partial offset: ADR rose 32% from 2022 ($229) to early 2026 ($304), but annual average revenue per listing declined from $5,549 in 2021 to $4,041 in 2024 before recovering slightly to $4,452 in 2025.
At the median, a property in February 2026 generated roughly $3,514 in revenue at 51% occupancy and a $259.60 ADR. A top-quartile (p75) operator earned $5,356 at 70% occupancy. A top-decile (p90) operator reached $7,676 at 85% occupancy. The performance gap between average and top operators is significant, roughly $3,570 per month at the extremes.
With typical home values at $425,702 and median sale prices at $432,666, acquisition costs are not low. A buyer financing at 25% down invests roughly $107,000 in equity plus closing costs. At the 2025 annual average of $4,452 per month, gross annual revenue would be approximately $53,424 before expenses, platform fees, management, taxes, and maintenance. Net yields depend heavily on expense ratios and financing terms.
The market sale-to-list ratio of 0.969 and 81 median days to pending indicate a buyer-favored market with negotiation room. Investors who can acquire below the typical value and operate in the top quartile have the clearest path to positive cash flow. Entry at median price with median performance carries meaningful risk in the current supply environment.
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| Date | Typical Home Value |
|---|---|
| Mar 2021 | $335,715 |
| Dec 2021 | $409,005 |
| Sep 2022 | $483,914 |
| Jun 2023 | $469,252 |
| Mar 2024 | $474,449 |
| Dec 2024 | $464,091 |
| Sep 2025 | $448,798 |
Booking Insights
Saint Augustine guests book with substantial lead time. In February 2026, the average booking lead time was 73.5 days, with a median of 51 days. This indicates that while most bookings fall in the 5-8 week range, a meaningful share of bookings (enough to pull the average to 73.5 days) come in well over two months in advance.
This lead time profile has two practical implications. First, operators should have a pricing strategy that adjusts rates as the booking window closes, rather than holding flat rates from the moment a calendar opens. Second, last-minute discounting is available as a fill strategy without heavily discounting primary revenue, since most paying guests commit early.
Length of stay averages 6.8 days with a median of 3 days. The gap between average and median signals that short stays dominate in volume (most guests book 2-3 nights), but multi-week stays pull the average up. This pattern is common in historic destination markets where weekend getaways are frequent but longer vacation rentals also exist.
For operators, a 3-night minimum is likely appropriate to reduce turnover costs while capturing the dominant booking pattern. Allowing 1-2 night stays may increase occupancy but at higher cleaning and management cost per booking. The lead time data also suggests that March, the peak month, is largely booked out by late December or early January, giving operators a clear pricing window for their highest-revenue period.
Short-Term Rental Regulations
Saint Augustine requires a short-term rental license for all operators. The licensing framework is governed by Ordinance 2019-07. Licenses must be renewed annually, and failure to renew can result in fines. The city enforces zoning restrictions that limit short-term rentals to specific areas, so prospective buyers must verify that a target property’s zoning allows STR operation before purchase.
On the tax side, operators face two layers. Florida imposes a 6% state sales tax on short-term rental income. St. Johns County adds a 6% tourist development tax (also called the bed tax). Both must be collected from guests and remitted on schedule. The Florida Department of Revenue handles state sales tax filing, and St. Johns County handles the tourist development tax separately. Combined, guests pay 12% in taxes on top of nightly rates.
Safety requirements include working smoke detectors and fire extinguishers at minimum. The full requirements are detailed in the city’s municipal code at library.municode.com/fl/saint_augustine/codes/code_of_ordinances, and the City of Saint Augustine’s official website (citystaugustine.com) publishes current licensing guidance.
Violations can result in fines or license revocation. Investors should verify current zoning approval for any specific property and consult the city’s licensing office before closing. Regulations can change and the city has historically been attentive to managing STR density in the historic core.
Market Comparison
Saint Augustine’s February 2026 ADR of $301.90 is above the national STR average, which reflects the premium guests pay for a historic destination with limited comparable alternatives in northeast Florida. The market competes most directly with other Florida coastal markets such as St. Pete Beach, Fernandina Beach, and Daytona Beach, as well as Charleston, South Carolina for history-focused travel.
Occupancy at 50% is below peak-year levels and roughly in line with the broader national STR normalization that accelerated in 2023-2024 as supply grew faster than demand recovery. Many markets that peaked at 65-70% occupancy in 2021 are now operating in the 48-55% range. Saint Augustine’s trajectory mirrors that pattern precisely, declining from 69.6% in 2021 to 47.5% in early 2026 data.
The ADR growth story is stronger here than in many comparable markets. ADR increased 38% from 2021 to early 2026 against a backdrop of declining occupancy, which means the market’s revenue per listing has been partially cushioned by rate gains. Markets with flat ADR and declining occupancy have fared worse on absolute revenue per listing.
With 1,728 active listings serving a city of 14,329 permanent residents and 850,000 annual visitors, the listings-to-visitor ratio is favorable compared to smaller, lower-visitation markets. The visitor base is deep enough to support the existing supply, and the historic designation provides a moat against commoditization that pure beach markets do not have.
Frequently Asked Questions About Saint Augustine, Florida
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