Rapid City, Michigan Short-Term Rental Market
Rapid City, MI short-term rentals near Torch Lake averaged $411/night at 64.4% occupancy in June 2026, with a roughly 20.8% gross rental yield.
Quick Answer: Rapid City, Michigan is an active short-term rental market. average occupancy in the Traverse City market area is 64%. average monthly revenue in the Traverse City market area is $6,344. average daily rate in the Traverse City market area is $411. the top operator in the Traverse City market area is Vacasa with 179 listings. market score is 60/100 (grade C).
Market data reflects the Traverse City regional market, which includes Rapid City. Regulations, taxes, and permit details below are specific to Rapid City.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Rapid City is a small unincorporated community at the south end of Torch Lake in Kalkaska County, part of Northern Michigan’s Traverse City region, with a population of 1,357. Torch Lake, named by National Geographic as one of the most beautiful lakes in the world, drives an overwhelmingly summer recreational visitor base of boaters, swimmers, and cottage renters. In June 2026, the latest month with data, short-term rentals in this market averaged $410.84 per night at 64.4% occupancy, generating $6,344 in average monthly revenue per listing. Occupancy eased 0.6 point year over year and ADR fell 6.0%, but revenue still rose 4.5%. By property type, apartments averaged $5,431/month, entire homes $6,470/month, and houses $6,994/month. Regionally, entire-place listings make up roughly 97% of inventory.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 32% |
| Feb | 39% |
| Mar | 35% |
| Apr | 40% |
| May | 52% |
| Jun | 64% |
| Jul | 79% |
| Aug | 71% |
| Sep | 49% |
| Oct | 45% |
| Nov | 29% |
| Dec | 39% |
Month-by-month nightly rates and revenue figures for Rapid City are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Top Short-Term Rental Operators in Traverse City market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Traverse City market as a whole, which includes Rapid City, so these counts are not Rapid City-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Vacasa | 179 | 5,712 | ★ 4.46 |
| 2 | Elevated Homes & Hospitality | 125 | 4,924 | ★ 4.78 |
| 3 | The Mitten Group Property Management | 109 | 9,508 | ★ 4.79 |
| 4 | True North Property Management | 107 | 3,603 | ★ 4.56 |
| 5 | Evolve | 94 | 4,157 | ★ 4.76 |
What Kind of STR Should I Buy in Rapid City?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Rapid City are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 28.4% |
| vrbo | 15.1% |
| both | 56.5% |
Home Value Trends (Rapid City)
Typical home values, median sale prices, and the 10-year price trend for Rapid City are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Insights
Booking-window and length-of-stay analysis for Rapid City — how far ahead guests book and how to price around it — is available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Short-Term Rental Regulations
Rapid City, Michigan is an unincorporated community (census-designated place) in Clearwater Township, Kalkaska County, with no city government of its own, so short-term rental rules come from Clearwater Township plus the State of Michigan. Michigan has no statewide STR licensing system and no preemption law as of 2026, leaving regulation to local governments. Clearwater Township has adopted a dedicated Short-Term Rental Ordinance (No. 07122021.2) requiring registration and licensure of STRs within the township, alongside its Zoning Ordinance No. 22. The exact fee amount, renewal cadence, and any occupancy or parking caps were not verifiable from accessible source text; confirm directly with the township (231-331-6249). Statewide, all lodging rented for fewer than 30 days must collect and remit Michigan’s 6% use tax. There is no evidence of an owner-occupancy or primary-residence mandate or an annual-nights cap for this township. Enforcement is rated moderate. Note: many web results for ‘Rapid City short-term rental’ refer to Rapid City, South Dakota, and do not apply here.
Market Comparison
Rapid City’s 64.4% occupancy in June 2026 runs above the roughly 55% U.S. median often cited for short-term rentals, and its $410.84 ADR nearly doubles the roughly $220 national median, reflecting its position as a premium Torch Lake market. No property manager snapshot data is currently published for this specific market, so a top-operator comparison is not available here; based on available data, ownership appears fragmented among individual lake-house owners rather than concentrated under a large professional manager.
Frequently Asked Questions About Rapid City, Michigan
What is the average occupancy rate for short-term rentals in Rapid City, MI?
What is the average nightly rate for a Torch Lake-area short-term rental near Rapid City?
What is the gross rental yield on a Rapid City, MI short-term rental?
Do you need a permit for a short-term rental in Rapid City, MI?
When is the busiest season for short-term rentals near Torch Lake?
What taxes apply to short-term rentals in Rapid City, MI?
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