Frankfort, Michigan Short-Term Rental Market
Frankfort, MI STRs averaged $232/night at 38.2% occupancy in April 2026, with peak-July occupancy reaching 78.9%.
Quick Answer: Frankfort, Michigan is an active short-term rental market. average occupancy is 64%. average monthly revenue is $6,344. average daily rate is $411. the top operator is Vacasa with 206 listings. market score is 59/100 (grade C).
Market data reflects the Traverse City regional market, which includes Frankfort. Regulations, taxes, and permit details below are specific to Frankfort.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Frankfort is a small Lake Michigan resort city in Benzie County with a resident population of approximately 1,252. The city markets itself as the southern gateway to Sleeping Bear Dunes National Lakeshore, one of the most-visited national parks in Michigan. The STR market data reflects the broader Frankfort regional area, which captures the surrounding Benzie County vacation rental supply.
In April 2026, the market recorded a $232 average daily rate and 38.2% occupancy, generating average monthly revenue of $2,189 per listing. April is a pre-season month for this lake destination. Year-over-year, April 2026 occupancy fell 3.7% while ADR rose 4.6%, resulting in near-flat revenue growth of 0.2%, indicating that operators have largely offset volume softness with rate increases.
The supply is concentrated in entire-place vacation rentals, which account for 5,064 of the approximately 5,222 listings in the regional dataset, with private rooms at 158. The listing channel mix is more balanced than most markets: 2,936 listings appear on both Airbnb and VRBO, 1,475 are on Airbnb only, and 811 are on VRBO only, reflecting the strong vacation-rental-platform culture of Michigan lake markets.
Bedroom distribution skews toward mid-size properties: 2-bedroom (1,523), 1-bedroom (1,303), 3-bedroom (1,236), 4-bedroom (711), and 5-bedroom-plus (443). The composite market score is 59.2, with investability (84.1) and regulation (73.0) as the strongest components.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 32% | $243 | $2,217 |
| Feb | 39% | $240 | $2,264 |
| Mar | 35% | $212 | $2,085 |
| Apr | 40% | $219 | $2,094 |
| May | 52% | $274 | $2,699 |
| Jun | 64% | $343 | $5,015 |
| Jul | 79% | $349 | $6,779 |
| Aug | 71% | $347 | $6,314 |
| Sep | 49% | $295 | $3,909 |
| Oct | 45% | $265 | $3,347 |
| Nov | 29% | $230 | $2,035 |
| Dec | 39% | $239 | $2,172 |
Top Short-Term Rental Operators in Frankfort
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 Frankfort?
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 | $417 |
| Luxury | $638 |
| Professionally Managed | $441 |
Revenue by Dwelling Type
| Apartment | $5,431 |
| Entire Place | $6,470 |
| House | $6,994 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 28.2% |
| vrbo | 15.5% |
| both | 56.2% |
Investment Analysis
Frankfort presents an appealing but capacity-constrained STR investment environment. The city actively caps STR permits at 120 units per calendar year and limits each owner to 2 STR units under Ordinance D-1 of 2023. Permits do not transfer on sale, meaning a buyer purchasing an existing permitted STR property must apply for a new permit, and approval is not guaranteed if the 120-unit cap has been reached.
No housing snapshot data is available for Frankfort in the current dataset, so an entry-cost estimate and gross yield calculation cannot be cited here.
Revenue trends show consistent growth at the annual level. The 2025 all-listing average was $4,146 per month, up from $4,007 in 2024 and $3,659 in 2023. The investability score of 84.1 is among the higher scores in the regional dataset, reflecting the market’s strong summer fundamentals. Revenue growth score of 78.3 indicates sustained positive trajectory.
ADR tiers show a clear premium for higher-quality properties. All-listing ADR was $232 in April 2026, entire-home listings averaged $235, and luxury-tier properties commanded $428. Professionally managed listings averaged $233. Houses outperform other property types at $2,533 monthly revenue in April versus $2,205 for entire-place listings and $1,695 for apartments, suggesting that single-family lakefront and near-lake homes capture the strongest rental premiums in this market.
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 (Frankfort)
Booking Insights
Frankfort STR guests book an average of 49 days in advance and stay an average of 3.1 nights per booking. The 49-day lead time is consistent with a resort lake market where summer weeks are planned roughly 7 weeks in advance, similar to other Great Lakes destination markets.
For operators in a capped permit market like Frankfort, the booking window creates an important pricing signal. Guests who book 7 or more weeks before arrival for peak July and August weeks are typically less price-sensitive than last-minute bookers. Operators who set competitive summer rates early and hold them have historically captured strong occupancy. Dynamic discounting should be reserved for the final 2 to 3 weeks before arrival on unfilled dates.
At 3.1 nights per stay, Frankfort guests tend toward extended-weekend visits more than full-week stays. This is shorter than many vacation markets and suggests that a flexible minimum-stay policy (2 nights during shoulder, 3 to 4 nights in June and September, 5 to 7 nights in peak July-August) may maximize both occupancy and revenue per cleaning cycle.
Short-Term Rental Regulations
Frankfort regulates STRs under Ordinance D-1 of 2023, adopted January 23, 2023 and published February 1, 2023. The ordinance explicitly cites affordable housing preservation and residential character as its motivations. A separate city STR permit is required for each dwelling unit. Permits do not run with the land and terminate on sale of the property; a buyer must re-apply.
The city reserves the right to cap total STR permits at 120 per calendar year. Each owner is limited to a maximum of 2 STR units. Owners operating 3 units before December 31, 2022 were grandfathered only until the property changes hands or is occupied for more than 30 days. Permits are valid for up to 3 years, expiring December 31 of the final year, with renewal required roughly every 3 years.
Sleeping occupancy is capped at 2 people per legal bedroom plus 4 additional. Operators must designate a 24/7 local contact reachable within 60 minutes, carry general liability insurance, pass fire and safety inspection at least once per permit period, and post a Good Neighbor Guide. STRs may not be used as special-event venues. Application and permit fees are set by City Council resolution and are not fixed in the ordinance text.
Michigan’s 6% state use (lodging) tax applies to stays under 30 days. The ordinance applies to all residential zoning districts; hotels and units rented fewer than 2 weeks per calendar year are excluded. Enforcement is rated moderate. The city updated its STR registration form in March 2024, indicating active ongoing administration of the program.
Market Comparison
Frankfort’s 38.2% April 2026 occupancy is below the U.S. STR median of approximately 55%, but April is one of this market’s weakest months. The July peak of 78.9% significantly exceeds the national median and reflects concentrated summer resort demand. The $232 ADR in April is above the national median of roughly $220, consistent with a Lake Michigan premium resort market.
The regulation score of 73.0 reflects Frankfort’s structured permit system, which is more defined than most small Michigan cities but less restrictive than outright bans. The 120-unit citywide cap creates supply scarcity that may support pricing power for permitted operators.
Among professional operators, Vacasa leads with 206 listings and 5,978 reviews at a 4.46 rating. Elevated Homes and Hospitality manages 116 listings with 4,924 reviews at 4.76, the highest rating among top operators. True North Property Management holds 109 listings with 3,627 reviews at 4.54. The Mitten Group Property Management operates 108 listings with 9,528 reviews at 4.79, indicating an established regional operator with deep guest experience. Evolve manages 94 listings with 4,171 reviews at 4.76. The top 5 operators together hold approximately 633 listings, representing roughly 12% of the regional supply.
Frequently Asked Questions About Frankfort, Michigan
Are short-term rentals legal in Frankfort, MI?
Does a Frankfort STR permit transfer when the property is sold?
What is the average daily rate for Frankfort, MI short-term rentals?
When is peak season in Frankfort, MI?
What taxes apply to Frankfort, MI short-term rentals?
How many STR permits does Frankfort allow?
Who are the largest vacation rental managers in Frankfort, MI?
Analyze Frankfort Rentals
Use our free calculator to estimate Airbnb revenue for any property in Frankfort.
Free Frankfort STR Calculator →
