Spencer, Massachusetts Short-Term Rental Market
Massachusetts Area STRs averaged $156/night at 56.5% occupancy in April 2026 across 2,361 active listings.
Quick Answer: Spencer, Massachusetts is an active short-term rental market. average occupancy is 56%. average monthly revenue is $2,315. average daily rate is $156. the top operator is Evolve with 53 listings. market score is 79/100 (grade B).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
The Massachusetts Area STR market (anchored in Spencer, Worcester County) recorded an average daily rate of $155.69 and occupancy of 56.5% in April 2026, generating average monthly revenue of $2,315 per listing. RevPAR came in at $87.90. The market carries a total score of 78.6 out of 100, with rental demand scoring 88.6 and investability at 67.0.
The listing inventory spans 2,361 active units. Entire-place listings account for 1,656 (70.1% of supply), followed by 701 private rooms and 4 shared rooms. By bedroom count, 1-bedroom units are the most common at 1,140, followed by 2-bedroom (545), 3-bedroom (420), 4-bedroom (161), and 5-bedroom-plus (95). Airbnb-only listings account for 1,675 units, while 600 operators list on both Airbnb and VRBO, and 86 are VRBO-only, indicating a predominantly Airbnb-driven market.
Year-over-year as of April 2026, occupancy increased 1.82 percentage points, ADR rose 6.98%, and average monthly revenue climbed 7.23%. The annual averages for 2025 were 56.76% occupancy, $166 ADR, and $2,630/month revenue, compared with 2019 figures of 56.09% occupancy, $97 ADR, and $1,449/month.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 49% | $110 | $1,576 |
| Feb | 56% | $113 | $1,593 |
| Mar | 56% | $110 | $1,718 |
| Apr | 61% | $118 | $1,883 |
| May | 64% | $138 | $2,234 |
| Jun | 65% | $141 | $2,448 |
| Jul | 70% | $144 | $2,784 |
| Aug | 71% | $144 | $2,822 |
| Sep | 64% | $135 | $2,367 |
| Oct | 63% | $138 | $2,440 |
| Nov | 54% | $126 | $1,931 |
| Dec | 52% | $122 | $1,811 |
Top Short-Term Rental Operators in Spencer
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 53 | 2,234 | ★ 4.73 |
| 2 | Aspengrove Country Resort | 14 | 1,626 | ★ 4.61 |
| 3 | Vacasa | 7 | 30 | ★ 4.91 |
| 4 | DXW Rentals | 5 | 1,205 | ★ 4.82 |
| 5 | Ulrich Estates | 5 | 176 | ★ 3.98 |
What Kind of STR Should I Buy in Spencer?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 1,140 |
| 2 bed | 545 |
| 3 bed | 420 |
| 4 bed | 161 |
| 5 bed | 95 |
ADR by Property Tier
| Entire Home | $193 |
| Luxury | $298 |
| Professionally Managed | $179 |
Revenue by Dwelling Type
| Apartment | $2,058 |
| Entire Place | $2,798 |
| House | $2,498 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 70.9% |
| vrbo | 3.6% |
| both | 25.4% |
Investment Analysis
At a typical home value of $438,357 and average monthly revenue of $2,315, a Massachusetts Area STR generates an estimated gross annual yield of approximately 6.3% (annualized revenue of $27,779 against the typical home value). The median sale and list price data were not published for this market at time of research.
Tier comparisons show clear differentiation. Entire-home listings averaged $192.59/night versus $155.69 for all listings combined. Professionally managed properties averaged $179.19/night, above the market average. Luxury-tier properties commanded $298.43/night. Revenue by property type: entire-place listings averaged $2,798/month, houses $2,498/month, and apartments $2,058/month.
For-sale inventory stands at just 14 units, indicating a very tight acquisition market. The rental demand score of 88.6 reflects strong relative demand for this market size. The investability score of 67.0 and the absence of a local STR ordinance in Spencer suggest a moderate-risk regulatory environment, though the 2021 Massachusetts SJC ruling on zoning compatibility means operators should confirm local zoning compliance before listing.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Massachusetts Area STR guests book an average of 39.0 days in advance and stay an average of 4.28 nights. The 39-day lead time is consistent with weekend leisure travel and short extended stays driven by regional recreation, family visits, and events. The average stay of 4.28 nights points to a mix of 3-4 night weekend getaways and occasional longer retreats.
Spencer’s event calendar creates targeted booking spikes: the Labor Day weekend Spencer Fair generates concentrated demand, as do foliage season weekends in October. Operators who block minimum 3-night stays around these peak events can capture higher per-stay revenue while reducing turnover costs.
Short-Term Rental Regulations
Spencer has no local short-term rental ordinance as of May 2026. STR operators are governed by Massachusetts state law (Chapter 337, Acts of 2018, effective July 1, 2019). Under state requirements, operators must: (1) register every property with the Massachusetts Department of Revenue via MassTaxConnect and post the certificate at the property; (2) maintain a minimum $1,000,000 liability insurance policy per stay, unless the booking platform maintains equal coverage; and (3) collect and remit the 5.7% state room occupancy excise tax on stays of 31 days or fewer.
No owner-occupancy or primary-residence requirement exists at the state level. No cap on maximum nights per year was identified at state or local level. Properties rented 14 days or fewer per calendar year are exempt from the tax obligation but still must register and maintain insurance.
The 2021 Massachusetts SJC ruling in Styller v. Zoning Board of Lynnfield established that short-term rentals may be incompatible with single-family residential zoning without explicit local authorization. Spencer operators in residential zoning districts should verify zoning compliance with the Spencer Planning Board or Zoning Board of Appeals before listing. The Spencer zoning bylaw was last amended November 7, 2024; the full text was not reviewed for this research.
Market Comparison
The Massachusetts Area’s 56.5% occupancy in April 2026 is approximately in line with the US STR market median of roughly 55%, while its $155.69 ADR is well below the national median of around $220. This positions the market as a volume-driven, mid-tier rate environment. The 2025 annual ADR of $166 reflects steady rate improvement from $97 in 2019.
Year-over-year, occupancy rose 1.82 percentage points and revenue grew 7.23%, both positive signals in a market that has seen occupancy decline from its 2021 peak of 70.9% down to a 2026 partial-year average of 51.5%.
The top property managers by listing count are Evolve (53 listings, 2,234 reviews, 4.73 rating), Aspengrove Country Resort (14 listings, 1,626 reviews, 4.61 rating), and Vacasa (7 listings, 30 reviews, 4.91 rating). The top 3 operators manage just 74 listings combined, or approximately 3.1% of the 2,361-listing market, reflecting a highly fragmented operator base.
Frequently Asked Questions About Spencer, Massachusetts
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How much monthly revenue do STRs generate in the Massachusetts Area?
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What taxes apply to short-term rentals in Spencer, Massachusetts?
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