Annapolis, Maryland Short-Term Rental Market
Annapolis STRs averaged $163/night at 57.6% occupancy in April 2026, serving a market with 7.2 million annual visitors.
Quick Answer: Annapolis, Maryland is an active short-term rental market. average occupancy is 58%. average monthly revenue is $2,539. average daily rate is $163. the top operator is Evolve with 89 listings. market score is 61/100 (grade C).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Annapolis, Maryland is the state capital and one of America’s best-preserved colonial cities, drawing 7.2 million visitors annually to the Chesapeake Bay waterfront, the U.S. Naval Academy, and a walkable historic district. The STR market comprises approximately 5,122 active listings, with a notable split between entire-place units (3,690 listings, 72%) and private rooms (1,429 listings, 28%), reflecting Annapolis’s strong urban/residential character alongside its tourism base.
As of April 2026, the market recorded a $163 average daily rate, 57.6% occupancy, and $93.80 RevPAR. Revenue averaged $2,539/month, up 1.36% year-over-year despite a 4.72% occupancy decline, as ADR growth of 2.08% partially offset the occupancy softening. The market scored 61.48 overall, with seasonality (81.38) as the highest-scoring dimension.
Bedroom supply is heavily weighted toward 1-bedroom units (2,483 listings, 48% of supply), followed by 2-bedroom (1,071), 3-bedroom (837), 4-bedroom (464), and 5-bedroom (256). Channel distribution shows Airbnb dominance: 3,269 Airbnb-only listings versus 298 VRBO-only, with 1,555 on both platforms. This Airbnb-heavy distribution is consistent with urban private-room markets.
Annapolis tourism generated $4.3 billion in economic impact in 2024, supporting 27,000+ jobs. Lodging spending alone reached $480 million, indicating robust baseline demand for overnight accommodations.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 48% | $104 | $1,504 |
| Feb | 57% | $104 | $1,484 |
| Mar | 59% | $116 | $1,837 |
| Apr | 61% | $130 | $2,096 |
| May | 64% | $145 | $2,415 |
| Jun | 66% | $154 | $2,782 |
| Jul | 65% | $149 | $2,597 |
| Aug | 64% | $153 | $2,680 |
| Sep | 60% | $153 | $2,461 |
| Oct | 58% | $157 | $2,568 |
| Nov | 54% | $135 | $2,054 |
| Dec | 53% | $127 | $1,917 |
Top Short-Term Rental Operators in Annapolis
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 89 | 2,349 | ★ 4.32 |
| 2 | ITrip Vacations | 79 | 2,393 | ★ 4.90 |
| 3 | PMI Annapolis Property Management Company | 28 | 681 | ★ 4.91 |
| 4 | Vacasa | 26 | 567 | ★ 4.67 |
| 5 | Sure Rental Company | 24 | 48 | ★ 4.94 |
What Kind of STR Should I Buy in Annapolis?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,483 |
| 2 bed | 1,071 |
| 3 bed | 837 |
| 4 bed | 464 |
| 5 bed | 256 |
ADR by Property Tier
| Entire Home | $204 |
| Luxury | $354 |
| Professionally Managed | $252 |
Revenue by Dwelling Type
| Apartment | $2,199 |
| Entire Place | $3,106 |
| House | $2,770 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 63.8% |
| vrbo | 5.8% |
| both | 30.4% |
Investment Analysis
Annapolis presents a moderate-yield urban STR case anchored by consistent year-round demand and strong regulatory barriers to new entry. At a typical home value of $622,535 and monthly revenue average of $2,539, an investor can expect approximately $30,470 in gross annual revenue, implying a gross yield of roughly 4.9% on the typical home value. The median sale price is $598,279 with homes going pending in a median of 11 days — a competitive acquisition environment.
Entire-place properties significantly outperform room-based listings: entire-home ADR averages $204/night versus $163 all-listings, a 25% premium. The luxury tier commands $354/night. Professionally managed units average $252/night, 55% above the market average, a notably high PM premium indicating strong yield upside for well-positioned and well-managed properties.
Entire-place revenue averages $3,106/month — 22% above the all-listing average of $2,539 and 41% above apartments at $2,199. House-type properties average $2,770/month.
Annapolis’s regulatory framework — a $500/year license, 10% blockface cap on new licenses (42 blockfaces already over the cap), and max 120-night annual rental limit — functions as supply constraint. Existing licensees benefit from reduced competition in over-cap areas. The market has shown stable revenue growth from $2,442 (2023) to $2,563 (2024) to $2,637 (2025), with consistent ADR gains.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Annapolis guests book approximately 37 days in advance on average, with an average stay of 4.75 nights. The 37-day lead time is shorter than many resort markets, consistent with urban demand patterns where guests plan weekend trips and short stays more spontaneously than destination vacations.
The 4.75-night average stay is above the national STR average and reflects a blend of weekend visitors, week-long tourism stays, and Naval Academy-related bookings (commissioning, graduation, football games) that often extend to 4-5 nights. This length supports moderate cleaning frequency — fewer turnovers than urban 1-2 night markets.
For operators, the 37-day lead time suggests pricing strategies should focus on the 30-60 day window: set firm pricing for event weekends (October boat shows, May Commissioning Week, Naval Academy football games) well in advance and use dynamic pricing inside 14 days to fill remaining inventory. The short lead time also means early-booking discounts at 60-90 days out can capture bookings before guests find alternatives.
Short-Term Rental Regulations
Annapolis requires an annual Short-Term Rental License ($500/year) for any stay under 120 consecutive nights — the 120-night threshold also functions as the maximum rental duration per booking. A mandatory safety inspection is required before license issuance. Non-resident owners must designate a property manager who lives within Annapolis city limits; applications without a local manager will be rejected.
Occupancy is limited to 2 guests per bedroom plus 2 additional persons, with a hard cap of 10 total guests. Quiet hours run 10 PM to 7 AM. Penalties escalate from a $1,000 fine (first offense) through suspension to permanent license revocation.
The most significant recent change is Ordinance O-17-25 (October 2025), which introduced a 10% blockface cap on new STR licenses. No new licenses can be issued on any blockface where 10% or more of residential units already hold licenses. Currently 42 blockfaces exceed the cap (30 in Ward 1, concentrated in the historic downtown area). Blockfaces with fewer than 10 residential units are limited to 1 STR license. Existing over-cap licenses may renew through November 2027, after which a lottery system takes effect prioritizing current local licensees. Owner-occupied STRs are exempt from the blockface cap count.
Tax obligations are 8% city occupancy tax (raised from 7% in July 2023) plus Maryland’s 6% state sales tax. STRs in Accessory Dwelling Units (ADUs) are prohibited.
Market Comparison
Nationally, STR markets average approximately 55% occupancy and $220 ADR. Annapolis’s 57.6% occupancy is modestly above the national median. ADR at $163 is below the national average, but this reflects the high proportion of private rooms (28% of the market), which have structurally lower ADRs than entire-home properties. Entire-home ADR at $204 is closer to, though still below, national averages.
The seasonality score of 81.38 is the market’s strongest dimension, suggesting Annapolis captures meaningful seasonal uplift while maintaining relatively high off-season occupancy (minimum 48%). The regulation score of 63.57 reflects the increasingly restrictive licensing environment post-Ordinance O-17-25.
Evolve leads by listing count with 89 listings and 2,349 reviews (avg 4.32 rating). ITrip Vacations holds 79 listings with a significantly higher 4.90 average rating across 2,393 reviews. PMI Annapolis Property Management Company manages 28 listings with a 4.91 rating — the highest-rated of the top 5. Together the top 3 operators account for 196 listings, or roughly 4% of estimated active supply, indicating a highly fragmented, owner-operated market.
Frequently Asked Questions About Annapolis, Maryland
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