Murray, Kentucky Short-Term Rental Market
Murray, KY short-term rentals averaged $219/night at 56.9% occupancy in June 2026, but the city now permits only hosted room-sharing.
Quick Answer: Murray, Kentucky is an active short-term rental market. average occupancy in the Kentucky Area market area is 57%. average monthly revenue in the Kentucky Area market area is $3,402. average daily rate in the Kentucky Area market area is $219. the top operator in the Kentucky Area market area is Evolve with 344 listings. market score is 89/100 (grade A).
Market data reflects the Kentucky Area regional market, which includes Murray. Regulations, taxes, and permit details below are specific to Murray.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Murray is a Calloway County college town of about 18,964 residents, anchored by Murray State University and roughly 15 minutes from Kentucky Lake. In June 2026, the latest month with data, short-term rentals in the market averaged $219.40 per night at 56.9% occupancy, generating an average of $3,402 in monthly revenue per listing. Revenue was up 3.2% year over year while ADR slipped 0.5% and occupancy was essentially flat (+0.1 point). Revenue varies by property type in the wider submarket: apartments averaged $2,372/month, entire homes $3,493/month, and houses $3,797/month. Regionally, entire-place listings dominate available inventory (roughly 95% of the mix, per submarket-level dimension data covering the western Kentucky lakes area), with private rooms making up most of the rest. That regional mix should not be read as Murray-specific: as of January 2025, the city itself allows only ‘hosted sharing’ rentals, where the owner is present on-site and rents a portion of the home, not whole-house entire-place STRs. Investors targeting Murray proper should plan around that owner-present model rather than the absentee entire-home format common elsewhere in the region.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 34% | $123 | $1,328 |
| Feb | 44% | $124 | $1,370 |
| Mar | 53% | $144 | $1,926 |
| Apr | 51% | $154 | $2,093 |
| May | 51% | $167 | $2,231 |
| Jun | 60% | $191 | $3,023 |
| Jul | 63% | $190 | $3,314 |
| Aug | 52% | $179 | $2,618 |
| Sep | 47% | $166 | $2,150 |
| Oct | 51% | $161 | $2,335 |
| Nov | 45% | $150 | $1,903 |
| Dec | 41% | $143 | $1,732 |
Top Short-Term Rental Operators in Kentucky Area market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Kentucky Area market as a whole, which includes Murray, so these counts are not Murray-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 344 | 14,456 | ★ 4.76 |
| 2 | Green Turtle Bay Resort | 85 | 274 | ★ 4.73 |
| 3 | Neat Suites | 41 | 1,165 | ★ 4.81 |
| 4 | Lyric | 39 | 3,002 | ★ 4.81 |
| 5 | Lake Cumberland Resort III | 30 | 902 | ★ 4.66 |
What Kind of STR Should I Buy in Murray?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,293 |
| 2 bed | 2,493 |
| 3 bed | 2,234 |
| 4 bed | 859 |
| 5 bed | 566 |
ADR by Property Tier
| Entire Home | $223 |
| Luxury | $371 |
| Professionally Managed | $274 |
Revenue by Dwelling Type
| Apartment | $2,372 |
| Entire Place | $3,493 |
| House | $3,797 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 46.7% |
| vrbo | 9.6% |
| both | 43.7% |
Investment Analysis
Murray’s average daily rate of $219.40 sits well below the tier_luxury average of $370.57 and the professionally-managed tier average of $273.54, indicating higher-end and professionally operated listings command a real premium in this market, even though Murray’s own ordinance limits new whole-house operators. The entire-home tier ADR ($223.43) is close to the market-wide average, suggesting little differentiation once a listing clears the entire-home bar. Revenue per listing rose 3.2% year over year even as ADR fell slightly, pointing to occupancy-driven rather than rate-driven growth. No current typical home value is published for this market in the housing dataset, so a gross rental yield cannot be calculated here; investors should pull comparable sale prices directly. The more consequential investment factor is regulatory: Murray’s January 2025 ordinance permits only owner-present hosted sharing within city limits, which closes off the standard buy-and-rent-whole-house investor model inside Murray itself. Investors interested in the entire-home format common in the surrounding Kentucky Lake and Land Between the Lakes submarket should look at unincorporated Calloway County or nearby lake-adjacent communities rather than the city of Murray.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
Run a Free Address Analysis
Skip the market averages. Get revenue projections, comp analysis, and ROI for your specific property address. Free, instant, no signup required.
Analyze My Property →Home Value Trends (Murray)
Booking Insights
Guests book Murray listings an average of 58.2 days in advance and stay 3.7 nights per booking. That lead time gives operators several weeks of visibility to adjust pricing ahead of Murray State events (move-in weekends, home basketball games, graduation) and Kentucky Lake boating season, rather than relying heavily on last-minute demand. The under-4-night average length of stay points to a market driven by weekend trips and short getaways rather than extended vacations, so turnover costs (cleaning, restocking) factor more heavily into per-stay economics than in longer-stay leisure markets.
Short-Term Rental Regulations
Short-term rentals are legal in Murray but tightly restricted. Effective January 2025, the city council voted 4-1 to allow only ‘hosted sharing’ rentals: an owner may rent a portion of their home for stays under 30 days, but only while the owner is present on-site. Traditional unhosted, whole-house rentals remain prohibited within city limits. A city permit is required, and both owner-occupancy and primary-residence status are required to operate. Operators must collect and remit a combined 4% local transient room tax (a 3% base tax plus 1% special tax, effective since January 2023) on top of state lodging and sales taxes. Enforcement is rated moderate. Kentucky’s legislature has weighed bills such as SB 110 that could limit local governments’ ability to regulate STRs, which could change Murray’s framework in the future, but as of the June 2026 data pull the hosted-sharing-only rule remains in effect. Net effect for investors: Murray is effectively closed to the standard absentee whole-house rental model; only owner-occupied hosted rooms are permitted.
Market Comparison
Murray’s 56.9% occupancy in June 2026 is above the roughly 55% median often cited for the broader U.S. short-term rental market, while its $219.40 ADR sits well below the roughly $220 national median, reflecting Murray’s positioning as an affordable college-town and lake-adjacent market rather than a premium destination. Evolve is the leading operator in the region with 344 listings, 14,456 reviews and a 4.76 average rating, well ahead of the next-largest operator, Green Turtle Bay Resort, at 85 listings and a 4.73 rating. Neat Suites, Lyric, and Lake Cumberland Resort III round out the top five with 30 to 41 listings each. The concentration at the top, with Evolve alone controlling roughly 4x the listings of the next operator, suggests professional management is well established in this submarket even as Murray’s own city ordinance limits new whole-house operators going forward.
Frequently Asked Questions About Murray, Kentucky
What is the average Airbnb occupancy rate in Murray, KY?
What is the average daily rate for a short-term rental in Murray?
Can you still operate a whole-house Airbnb in Murray, KY?
How much does it cost to operate a short-term rental in Murray?
What is the busiest month for short-term rentals in Murray?
How much revenue does a Murray, KY short-term rental generate?
Who are the top property managers in the Murray/Kentucky Lake area?
Analyze Murray Rentals
Use our free calculator to estimate Airbnb revenue for any property in Murray.
Free Murray STR Calculator →
