Leland, Michigan Short-Term Rental Market
Leland, MI STRs averaged $232/night and 38.2% occupancy in April 2026, with July historically reaching 78.9% across 5,222 active listings.
Quick Answer: Leland, 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 Leland. Regulations, taxes, and permit details below are specific to Leland.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
The Leland, Michigan short-term rental market comprises approximately 5,222 active listings as of April 2026, centered on this Lake Michigan resort village of roughly 410 permanent residents in Leelanau County. The market is overwhelmingly entire-place focused, with 5,064 entire-place listings (97.0% of tracked listings) and 158 private rooms. Two-bedroom units are most common with 1,523 listings, followed by one-bedroom (1,303), three-bedroom (1,236), four-bedroom (711), and five-plus bedroom (443) units.
Channel distribution is more balanced than many markets: 2,936 listings appear on both Airbnb and VRBO, 1,475 are Airbnb-only, and 811 are VRBO-only. The dual-listing rate of 56.2% reflects the resort-destination visitor profile, where VRBO performs comparably to Airbnb.
April 2026 metrics reflect the shoulder season: occupancy was 38.2% and the average daily rate was $232.22, generating a RevPAR of $88.73. Year-over-year, occupancy declined 3.7% while ADR rose 4.6% and revenue was essentially flat at +0.16%. The 2025 full-year average is the more representative baseline: $309 ADR at 48.0% occupancy, producing approximately $4,146 in average monthly revenue per active listing.
Market scores reflect the seasonal concentration of this destination. The total score is 59.2 out of 100, with investability at 84.1, revenue growth at 78.3, and regulation at 73.0. Rental demand scores 57.1 and seasonality scores 45.2, consistent with a market where summer demand is intense but winter occupancy drops below 30%.
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 Leland
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 Leland?
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
Leland’s investment case rests almost entirely on summer peak-season revenue. The 2025 full-year average monthly revenue of $4,146 (annualized to $49,752) is the practical baseline for underwriting a typical listing. July and August, the two peak calendar months in the long-run historical average, posted $6,783 and $6,316 respectively, while January and November averaged $2,217 and $2,033.
Housing data was not available in this data pull, so a gross yield calculation cannot be provided. Investors should source current Leelanau County sale prices for comparable properties and apply the $49,752 annual baseline ($4,146/month) to evaluate return on investment.
ADR tiers show a narrow spread in this market. Entire-home listings averaged $234.65 per night in April 2026, nearly matching the professionally managed tier at $232.69, a difference of only $1.96. This compressed spread suggests professional management in Leland is priced in line with the broader entire-home market, likely reflecting strong baseline demand that reduces the self-management premium. The luxury tier averaged $428.31 per night, approximately 84% above the all-listings average of $232.22.
Revenue by property type in April 2026: house-category listings averaged $2,533 per month, entire-place listings averaged $2,205, and apartment listings averaged $1,695. House listings outperformed the broader entire-place category by $328 per month.
Annual revenue has grown from $2,438/month in 2017 to $4,146 in 2025. ADR held steady at $309 in both 2024 and 2025, suggesting the market is sustaining rate levels but not actively pushing higher. Revenue growth is scored at 78.3, reflecting the long-run appreciation in the dataset.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Leland guests book an average of 49.5 days in advance, with stays averaging 3.1 nights. The roughly 50-day lead window is longer than the U.S. STR average and reflects a summer lake destination where visitors plan seasonal trips well ahead of arrival.
For operators, a 50-day window means rate adjustments made 60 to 75 days before arrival will capture the majority of bookings. Early-season pricing decisions made in late April and May for July and August travel can be particularly impactful, as guests planning peak-summer trips tend to book by early June.
The 3.1-night average stay suggests most guests are taking extended weekend trips rather than full-week rentals, despite Leland’s destination character. Operators may find a productive balance between 3-night minimums to capture the dominant weekend-plus segment and 7-night minimums during peak July and August windows to reduce turnover costs and maximize revenue per available night. The current 3.1-night average indicates that a strict 7-night minimum across the full calendar could leave meaningful revenue on the table during shoulder months.
Short-Term Rental Regulations
Short-term rentals are permitted in Leland Township, Michigan (which includes the village of Leland), subject to annual registration under the township’s STR ordinance adopted in 2020.
Operators must register annually with Leland Township at a fee of approximately $150, renewed each year. A short-term rental is defined under the ordinance as a rental for fewer than 75 days in a calendar year. There is no owner-occupancy or primary-residence requirement, and no hard cap on the total number of registrations has been documented.
Operators must designate a local contact able to respond to issues within approximately 45 minutes, and the township-issued registration number must appear in all listings, advertisements, and rental contracts. Permitting and land-use applications are processed online through the Cloudpermit platform.
On taxes, Michigan levies a statewide 6% use (lodging) tax on stays under 30 days, which the host or platform must collect and remit to the Michigan Department of Treasury. No additional Leelanau County local accommodations tax was confirmed. Standard Michigan sales taxes also apply.
District-specific zoning limits apply and vary across the township; investors must confirm the zoning classification for their specific parcel with the township zoning administrator before listing.
One forward-looking risk: a state-level short-term rental preemption bill has been under debate in the Michigan Legislature. If passed, it could override Leelanau County’s local STR ordinances. As of mid-2026, local township control still applies. Enforcement is assessed as moderate.
Market Comparison
Leland, Michigan’s 48.0% annual average occupancy (2025) sits below the U.S. STR median of approximately 55%, reflecting this market’s strong seasonal concentration. However, its 2025 annual ADR of $309 substantially exceeds the approximate U.S. median ADR of $220, indicating a premium pricing market supported by Lake Michigan resort demand, Sleeping Bear Dunes National Lakeshore access, and Fishtown’s historic draw.
The April 2026 RevPAR of $88.73 understates the market’s peak economics. July historical average revenue of $6,783 per listing is a more meaningful indicator of peak earning potential.
The operator landscape in Leland is moderately concentrated. The top five property managers collectively hold 633 listings, representing approximately 12.1% of the 5,222 total active listings. Vacasa leads with 206 listings and a 4.46 rating across 5,978 reviews. Elevated Homes and Hospitality follows with 116 listings and a 4.76 rating across 4,924 reviews. The Mitten Group Property Management holds 108 listings and a 4.79 rating across 9,528 reviews, the highest average rating in the top five. Evolve operates 94 listings at a 4.76 rating.
The mix of regional specialists (Elevated Homes, True North Property Management, Mitten Group) alongside national operators like Vacasa and Evolve reflects a market with established local management infrastructure suited to intensive summer operations.
Frequently Asked Questions About Leland, Michigan
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