Spirit Lake, Iowa Short-Term Rental Market
Spirit Lake STRs averaged $198 ADR at 58.6% occupancy and $3,312 monthly revenue in August 2026, with no STR permit.
Quick Answer: Spirit Lake, Iowa is an active short-term rental market. average occupancy in the Iowa Area market area is 52%. average monthly revenue in the Iowa Area market area is $2,513. average daily rate in the Iowa Area market area is $177. the top operator in the Iowa Area market area is Evolve with 93 listings. market score is 76/100 (grade B).
Market data reflects the Iowa Area regional market, which includes Spirit Lake. Regulations, taxes, and permit details below are specific to Spirit Lake.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Spirit Lake is a city of 5,548 residents and the northern anchor of the Iowa Great Lakes and Okoboji region in Dickinson County. The profile describes the region as Iowa’s main lake-vacation destination, with more than 1 million visitors a year. Roughly 700,000 of them come in the summer season. Most are drive-market visitors from Iowa, Minnesota, Nebraska and the Dakotas.
In August 2026, Spirit Lake STRs averaged an average daily rate (ADR) of $197.95 and occupancy of 58.6%. Average revenue per listing was $3,312 for the month. Compared with August 2025, occupancy rose 1.8%, ADR rose 3.7%, and revenue per listing rose 3.0%. All three measures moved up together.
Calendar-year averages show a market that peaked in 2021 and then flattened. In 2021 Spirit Lake averaged 57.3% occupancy, a $136 ADR and $2,176 in monthly revenue per listing. In 2025 it averaged 51.0% occupancy, a $154 ADR and $2,229 in monthly revenue. The first eight months of 2026 average 54.0% occupancy, a $163 ADR and $2,451 in monthly revenue. The 2026 figure includes the summer peak and leaves out the slow fall months, so it does not compare directly with a full year.
Listing counts, the mix of listing types, the bedroom mix and the booking channel mix are tracked at a shared regional level rather than uniquely for Spirit Lake, so this profile omits them. Visitors include second-home owners, boaters, anglers and outdoor-recreation travelers. The season runs from Memorial Day through Labor Day, with growing year-round interest. Travel spending in Dickinson County exceeded $241 million in 2024.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 41% |
| Feb | 45% |
| Mar | 50% |
| Apr | 50% |
| May | 54% |
| Jun | 61% |
| Jul | 64% |
| Aug | 57% |
| Sep | 50% |
| Oct | 50% |
| Nov | 48% |
| Dec | 46% |
Month-by-month nightly rates and revenue figures for Spirit Lake are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Top Short-Term Rental Operators in Iowa Area market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Iowa Area market as a whole, which includes Spirit Lake, so these counts are not Spirit Lake-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 93 | 2,738 | ★ 4.63 |
| 2 | Okoboji Vacation Co. | 59 | 971 | ★ 4.69 |
| 3 | 228 Spaces | 36 | 1,021 | ★ 4.75 |
| 4 | CR Short Stays | 30 | 2,424 | ★ 4.85 |
| 5 | Iowa Cabin Rentals | 21 | 368 | ★ 4.19 |
What Kind of STR Should I Buy in Spirit Lake?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Spirit Lake 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 | Share |
|---|---|
| airbnb | 58.8% |
| vrbo | 7.6% |
| both | 33.6% |
Home Value Trends (Spirit Lake)
Typical home values, median sale prices, and the 10-year price trend for Spirit Lake 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 Spirit Lake — 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 legal and lightly regulated in Spirit Lake. Enforcement is rated minimal. Iowa’s statewide House File 2641, enacted in 2020, bars cities and counties from prohibiting STRs, requiring an STR-specific license or permit, or charging any STR-specific fee.
Zoning follows the same law. STRs count as a residential land use, and local governments cannot adopt STR-specific zoning bans. The city may enforce general health, fire, building-safety, nuisance, noise and parking rules. It may do so only if it applies them the same way to comparable non-rental homes. Spirit Lake has no dedicated STR permit program, no owner-occupancy requirement and no cap on rental nights. No primary-residence rule applies.
Lodging tax is the main duty. All Iowa lodging carries a 5% state excise tax. Spirit Lake adds a 5% local hotel and motel tax, for a combined 10% on stays. Neighboring communities such as Arnolds Park, Milford, Wahpeton and West Okoboji levy 7% locally, for a 12% total.
No recent Spirit Lake-specific STR ordinance changes were identified. Operators should confirm current building, fire-safety and general rental-registration rules with the Spirit Lake Building Department, because the city code changes from time to time.
Market Comparison
The comparison below uses rough national norms of about 55% occupancy and about $220 ADR.
In August 2026 Spirit Lake ran at 58.6% occupancy, which is 3.6 points above the national figure. Its $197.95 ADR is about 10% below $220. On a full-year basis the gap is wider. The 2025 average occupancy of 51.0% is 4.1 points below 55%, and the 2025 average ADR of $154 is about 30% below $220. Spirit Lake performs near the national norm in summer and well below it in the cold months.
Within the Spirit Lake series, ADR has grown while occupancy has fallen back. ADR rose from $114 in 2019 to $154 in 2025. Occupancy peaked at 57.3% in 2021 and was 51.0% in 2025.
Top operators and property managers are tracked at a shared regional level rather than uniquely for Spirit Lake, so this profile omits them. The town has 5,548 residents and sits inside a region that draws more than 1 million visitors a year.
Frequently Asked Questions About Spirit Lake, Iowa
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