Lenexa, Kansas Short-Term Rental Market
Kansas City area STRs averaged $213/night at 63.7% occupancy in April 2026 across 4,679 active listings.
Quick Answer: Lenexa, Kansas is an active short-term rental market. average occupancy is 64%. average monthly revenue is $3,609. average daily rate is $213. the top operator is Karat Vacation Rental Management with 102 listings. market score is 94/100 (grade A).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
The Kansas City metro STR market tracked under this area (anchored in Lenexa, Johnson County) recorded an average daily rate of $212.51 and occupancy of 63.7% in April 2026, generating average monthly revenue of $3,609 per listing. RevPAR came in at $135.33. The market carries a total market score of 94.2 out of 100, with rental demand scoring 95.1 and investability at 86.1.
The listing inventory spans 4,679 active units. Entire-place listings dominate at 4,000 (85.5% of supply), followed by 674 private rooms and 5 shared rooms. By bedroom count, 1-bedroom units are the most common at 1,586, followed by 2-bedroom (1,111), 3-bedroom (1,073), 4-bedroom (561), and 5-bedroom-plus (344). Airbnb-only listings account for 2,589 units, while 1,863 operators list on both Airbnb and VRBO, and 227 are VRBO-only.
Year-over-year as of April 2026, occupancy rose 1.4 percentage points, ADR increased 7.95%, and average monthly revenue climbed 39.1%. The multi-year trend from 2021 through 2025 shows consistent revenue growth, with annual average revenue rising from $2,199 (2021) to $2,883 (2025) per listing per month. The 2026 partial-year average already sits at $2,943.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 50% | $108 | $1,610 |
| Feb | 56% | $115 | $1,668 |
| Mar | 63% | $131 | $2,293 |
| Apr | 60% | $135 | $2,184 |
| May | 65% | $132 | $2,339 |
| Jun | 70% | $135 | $2,583 |
| Jul | 70% | $134 | $2,597 |
| Aug | 61% | $131 | $2,239 |
| Sep | 61% | $131 | $2,163 |
| Oct | 62% | $134 | $2,305 |
| Nov | 57% | $131 | $2,082 |
| Dec | 58% | $129 | $2,097 |
Top Short-Term Rental Operators in Lenexa
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Karat Vacation Rental Management | 102 | 9,506 | ★ 4.73 |
| 2 | Cozy in KC | 93 | 10,766 | ★ 4.84 |
| 3 | OwlStays | 86 | 3,487 | ★ 4.57 |
| 4 | Short Term Rental Manager | 76 | 1,272 | ★ 4.84 |
| 5 | Evolve | 59 | 2,054 | ★ 4.63 |
What Kind of STR Should I Buy in Lenexa?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 1,586 |
| 2 bed | 1,111 |
| 3 bed | 1,073 |
| 4 bed | 561 |
| 5 bed | 344 |
ADR by Property Tier
| Entire Home | $232 |
| Luxury | $513 |
| Professionally Managed | $201 |
Revenue by Dwelling Type
| Apartment | $2,519 |
| Entire Place | $3,957 |
| House | $4,137 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 55.3% |
| vrbo | 4.9% |
| both | 39.8% |
Investment Analysis
At a typical home value of $482,917 and average monthly revenue of $3,609, a Kansas City area STR generates an estimated gross annual yield of approximately 9.0% (annualized revenue of $43,308 against the typical home value). That yield assumes full-year performance similar to April 2026; actual annual results will vary with seasonality.
Tier comparisons sharpen the picture. Entire-home listings averaged $232.25/night versus $212.51 for all listings combined. Luxury-tier properties commanded $513.44/night, and professionally managed listings came in at $200.65/night, slightly below the market average. Revenue by property type: houses averaged $4,137/month, entire-place listings $3,957/month, and apartments $2,519/month.
The market’s sale-to-list ratio of 0.831 and median 3 days to pending indicate a competitive purchase environment with properties moving quickly, though at prices below list. The for-sale inventory stands at 116 active listings. The investability score of 86.1 and total market score of 94.2 reflect strong demand fundamentals relative to regulatory exposure (regulation score: 57.9).
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Kansas City area STR guests book an average of 37.1 days in advance and stay an average of 4.61 nights. The 37-day lead time gives operators a roughly five-week pricing window before arrival, which is enough runway to apply dynamic pricing adjustments for weekends, events, and seasonal peaks without last-minute discounting pressure.
The 4.61-night average length of stay points to a mix of weekend leisure and short extended stays (3-5 nights), likely tied to KC metro event travel, corporate relocation, and family visits. Longer stays reduce turnover costs but require pricing strategies that bridge weekday gap nights. Operators capturing the multi-night mid-week stays on top of peak weekends will outperform the average monthly revenue of $3,609.
Short-Term Rental Regulations
Lenexa requires all rental properties, including short-term rentals, to hold an annual Residential Rental License under City Code Chapter 2-16. Licenses expire December 31 each year and require annual renewal. The license fee schedule is set by ordinance; a specific fee amount was not publicly available at time of research.
No owner-occupancy or primary-residence requirement applies. No cap on maximum nights per year was found in the ordinance. STR operators face two operational restrictions: the dwelling may not be used as a reception, party, or event space open to non-owner guests, and occupants must use off-street parking when available (Chapter 3-8).
Lenexa levies an 8% transient guest tax on short-term rental stays. Kansas state sales tax of 6.5% also applies, with a combined Lenexa sales tax rate of 10.35% (state 6.5%, Johnson County 1.475%, city 1.375%, special 1%). Airbnb and VRBO collect and remit the transient guest tax on behalf of operators under Kansas marketplace facilitator rules. Enforcement is complaint-driven and rated moderate. No Lenexa-specific STR ordinance changes were recorded in 2024 or 2025.
Market Comparison
The Kansas City area’s 63.7% occupancy in April 2026 exceeds the US STR market median of approximately 55%, while its $212.51 ADR is below the national median of around $220. This combination positions the market as a high-occupancy, moderate-rate environment. The revenue growth YoY of 39.1% significantly outpaces typical national annual growth rates of 3-8%, though the April 2026 data may reflect favorable event timing.
The top property managers by listing count are Karat Vacation Rental Management (102 listings, 9,506 reviews, 4.73 rating), Cozy in KC (93 listings, 10,766 reviews, 4.84 rating), and OwlStays (86 listings, 3,487 reviews, 4.57 rating). The top 3 operators together manage 281 listings, representing approximately 6.0% of the 4,679-listing market. This relatively fragmented PM landscape suggests room for independent operators to compete without facing dominant institutional concentration.
Frequently Asked Questions About Lenexa, Kansas
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