Cedar, Michigan Short-Term Rental Market
Cedar, MI STRs averaged $232/night at 38.2% occupancy in April 2026, with peak summer months reaching 79% occupancy and $6,700+ average monthly revenue.
Quick Answer: Cedar, Michigan is an active short-term rental market. average occupancy is 38%. average monthly revenue is $2,189. average daily rate is $232. the top operator is Vacasa with 206 listings. market score is 59/100 (grade C).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Cedar is a small unincorporated community in Solon Township, Leelanau County, Michigan, situated at the edge of the Leelanau Peninsula roughly 10 miles northwest of Traverse City. The STR market here draws on the broader peninsula tourism economy, including Sleeping Bear Dunes National Lakeshore, the Leelanau Peninsula Wine Trail, and Lake Michigan beaches. The local market tracks 5,222 total listings in the latest snapshot.
The vast majority of listings (5,064, or 97%) are entire-place rentals. Private rooms account for 158 listings. The bedroom mix skews toward larger units suited for groups: 2-bedroom properties lead at 1,523, followed by 1-bedroom (1,303), 3-bedroom (1,236), 4-bedroom (711), and 5-bedroom-plus (443). A notable feature of this market is the high share of dual-channel listings: 2,936 properties list on both Airbnb and VRBO, with 1,475 Airbnb-only and 811 VRBO-only.
April 2026 occupancy was 38.21% and ADR was $232.22, generating average revenue of $2,189 per active listing. Those April figures reflect the off-season; the 2025 full-year monthly average was $4,146 in revenue at $309 ADR and 48.0% occupancy. Year-over-year in April, occupancy fell 3.70 percentage points while ADR rose 4.60% and revenue held nearly flat (up 0.16%). The market’s overall index score is 59.2 out of 100, with investability (84.1) and revenue growth (78.3) as the top subcategories.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 32% | $243 | $2,217 |
| Feb | 39% | $240 | $2,267 |
| Mar | 35% | $212 | $2,086 |
| Apr | 40% | $219 | $2,094 |
| May | 52% | $268 | $2,619 |
| Jun | 64% | $334 | $4,849 |
| Jul | 79% | $348 | $6,783 |
| Aug | 71% | $347 | $6,316 |
| Sep | 49% | $295 | $3,911 |
| Oct | 45% | $265 | $3,349 |
| Nov | 29% | $230 | $2,033 |
| Dec | 39% | $239 | $2,166 |
Top Short-Term Rental Operators in Cedar
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Vacasa | 206 | 5,978 | ★ 4.46 |
| 2 | Elevated Homes & Hospitality | 116 | 4,924 | ★ 4.76 |
| 3 | True North Property Management | 109 | 3,627 | ★ 4.54 |
| 4 | The Mitten Group Property Management | 108 | 9,528 | ★ 4.79 |
| 5 | Evolve | 94 | 4,171 | ★ 4.76 |
What Kind of STR Should I Buy in Cedar?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 1,303 |
| 2 bed | 1,523 |
| 3 bed | 1,236 |
| 4 bed | 711 |
| 5 bed | 443 |
ADR by Property Tier
| Entire Home | $235 |
| Luxury | $428 |
| Professionally Managed | $233 |
Revenue by Dwelling Type
| Apartment | $1,695 |
| Entire Place | $2,205 |
| House | $2,533 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 28.2% |
| vrbo | 15.5% |
| both | 56.2% |
Investment Analysis
Cedar’s investment profile is shaped by an extremely high-season peak layered on a modest off-season floor. The 2025 annual average monthly revenue of $4,146 translates to approximately $49,752 in annualized gross revenue for an average active listing, based on all listing types. House rentals, the strongest segment, averaged $2,533 per month in April 2026 (the off-season); peak months deliver far higher figures.
No Zillow housing data was available for Cedar at the time of generation, so a specific entry cost or gross yield figure cannot be calculated here. Investors should source current home values independently for underwriting.
The ADR tier data shows almost no gap between the market-wide average ($232.22) and the entire-home tier ($234.65) or the professionally managed tier ($232.69), suggesting that professional management in this market delivers rate parity rather than a notable premium. The luxury tier stands apart at $428.31 ADR, representing properties that appeal to buyers seeking high-end accommodations near the dunes or on waterfront parcels. The market’s investability score of 84.1 out of 100 and revenue growth score of 78.3 suggest positive medium-term trends, though the seasonality score of 45.2 reflects the real concentration risk of this market into summer months.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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In April 2026, Cedar STR guests booked an average of 49.5 days in advance, a notably long lead time compared to most markets. This reflects deliberate vacation planning behavior: guests targeting peak summer weekends near Sleeping Bear Dunes and Leelanau wineries book well in advance to secure properties in a high-demand, supply-constrained summer market. Operators who open summer availability early and set rates before the peak window can capture this planned demand rather than scrambling to fill late.
Average length of stay is 3.1 nights, consistent with long-weekend getaway behavior rather than week-long vacations. A 3-night average generates roughly 10 turnovers per month at peak occupancy. Operators should factor cleaning costs and scheduling carefully at peak occupancy (79% in July with 3-night average stays implies near-daily turnover cycles at high inventory).
Short-Term Rental Regulations
Short-term rentals are legal in Cedar (Solon Township, Leelanau County, Michigan). As of mid-2026, no dedicated Solon Township STR ordinance could be found. This contrasts with several neighboring Leelanau County jurisdictions (Elmwood, Leelanau, Leland, Empire, Bingham townships and the villages of Suttons Bay and Northport) that have adopted permit systems, caps, or non-transferable licenses. Solon Township appears to allow STRs under general residential zoning with no township permit, occupancy cap, or annual night limit currently identified.
At the state level, Michigan levies a 6% use tax on all rentals under 30 days. Operators must register with the Michigan Department of Treasury. Airbnb collects and remits the state tax automatically; VRBO generally does not, so operators on VRBO should handle remittance independently. No local permit fee, owner-occupancy requirement, or maximum nights per year were found for Solon Township specifically.
Two important caveats: First, Solon Township could adopt an ordinance at any time given the county-wide regulatory trend. Second, statewide STR legislation has been active in Lansing (HB 5438 in 2023-24; an October 2025 package of HB 5138, 5139, and 5140 would create a state registry and allow local STR taxes), though none had been enacted as of mid-2026. Prospective investors should verify current township status directly with the Solon Township zoning administrator before purchasing.
Market Comparison
Cedar’s April 2026 occupancy of 38.21% is well below the US STR median of approximately 55%, but this reflects off-season performance in a highly seasonal market. In peak summer months, the market runs at 70-79% occupancy, well above national median levels. The $232.22 ADR exceeds the national median of approximately $220, reflecting the premium commanded by Leelanau Peninsula properties.
The high proportion of dual-channel listings (2,936 on both Airbnb and VRBO, versus 1,475 Airbnb-only) is notable and above typical market averages, reflecting that VRBO has meaningful reach with the vacation-oriented traveler base visiting this market.
Vacasa leads the Cedar market with 206 listings and a 4.462 average rating across 5,978 reviews. Elevated Homes and Hospitality operates 116 listings (4.763 rating, 4,924 reviews), True North Property Management manages 109 listings (4.539 rating, 3,627 reviews), and The Mitten Group Property Management holds 108 listings with a 4.785 rating and the deepest review base at 9,528 reviews. Evolve rounds out the top five with 94 listings and a 4.757 rating. Together the top five operators manage 633 listings, representing roughly 12.1% of the 5,222 total tracked listings.
Frequently Asked Questions About Cedar, Michigan
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