Minneapolis, Minnesota Short-Term Rental Market
Licensing applies, and Twin Cities STRs earned $3,231 monthly at $179 ADR and 64.9% occupancy in September 2026.
Quick Answer: Minneapolis, Minnesota is an active short-term rental market. average occupancy in the Minneapolis market area is 65%. average monthly revenue in the Minneapolis market area is $3,231. average daily rate in the Minneapolis market area is $179. the top operator in the Minneapolis market area is Minnestay with 124 listings. market score is 78/100 (grade B).
Market data reflects the wider Minneapolis market, which covers 5 areas. Regulations, taxes, and permit details below are specific to Minneapolis.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Performance figures on this page describe the Twin Cities STR market, which covers Minneapolis and Saint Paul, because the underlying data series is shared by the two cities. Minneapolis has a population of 435,233 and anchors Minnesota’s tourism economy. In September 2026 the average daily rate was $179, occupancy was 64.9%, and average monthly revenue per listing was $3,231. Year over year, occupancy rose 4.0%, ADR rose 0.2% and revenue rose 10.5%, so most of the revenue gain came from more booked nights rather than higher prices. By property type, entire homes earned $3,666 per month, houses earned $3,580 and apartments earned $2,587.
Demand comes from both leisure and business travel. Statewide, Minnesota drew 81.6 million visitors and a record $14.7 billion in visitor spending in 2024. Minneapolis hotels sold 2,072,664 room-nights at 55.5% occupancy that year, their strongest year since 2019, with record monthly hotel room revenue of $43.7 million in October. Large 2024 conventions included Herbalife (14,550 attendees), the American Physical Society (12,785) and the Minnesota Music Educators Association (12,600). Leisure draws include the Chain of Lakes, the Stone Arch Bridge, Mill City Museum and professional sports, with Mall of America just south in Bloomington.
Long-run results have been steady. Average monthly revenue was $2,760 in 2024 and $2,983 in 2025, and the 2026 average through September is $2,991, with occupancy at 63.4% and ADR at $168. Bedroom, channel and listing-type counts and top-operator names are tracked at a shared regional level rather than uniquely for Minneapolis, so this profile omits them.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 48% |
| Feb | 53% |
| Mar | 59% |
| Apr | 60% |
| May | 66% |
| Jun | 74% |
| Jul | 74% |
| Aug | 73% |
| Sep | 64% |
| Oct | 63% |
| Nov | 56% |
| Dec | 57% |
Month-by-month nightly rates and revenue figures for Minneapolis are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Top Short-Term Rental Operators in Minneapolis market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Minneapolis market as a whole, which includes Minneapolis, so these counts are not Minneapolis-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Minnestay | 124 | 4,439 | ★ 4.82 |
| 2 | CozySuites | 106 | 953 | ★ 4.04 |
| 3 | Evolve | 104 | 3,177 | ★ 4.67 |
| 4 | Raspberry Rentals | 32 | 753 | ★ 4.40 |
| 5 | Curtwood | 31 | 1,859 | ★ 4.67 |
What Kind of STR Should I Buy in Minneapolis?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Minneapolis 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 | 60.5% |
| vrbo | 4.6% |
| both | 34.9% |
Home Value Trends (Minneapolis)
Typical home values, median sale prices, and the 10-year price trend for Minneapolis 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 Minneapolis — 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
Short-term rentals are legal in Minneapolis and allowed citywide, but they must be registered or licensed. A homesteaded unit requires a short-term rental registration, and a non-homesteaded (investor) unit requires a short-term rental license, with a fee of $64 renewed annually. Hosts must also hold a separate city short-term rental hosting license tied to booking platforms. Owner-occupancy and primary-residence status are not required, so non-owner-occupied investor rentals are permitted.
Key limits apply. An owner may operate only one short-term rental in addition to their own homesteaded residence. In buildings with 20 or more units, no more than 10% of units may be short-term rentals. Occupancy is capped at 10 guests per unit. Liability insurance of at least $300,000 is required, a management plan covering noise, trash and parking must be filed, neighbors must be notified, a floor plan must be posted in the unit, and the license or registration number must appear in every listing. No annual night cap was identified.
On taxes, the city’s 3% lodging tax applies only to establishments with 50 or more rooms, so most individual STRs are exempt. Hosts must still collect Minnesota state sales tax (6.875%) plus Hennepin County and Minneapolis local sales and transit taxes, for roughly 13.5% in total.
Enforcement is moderate and runs through the rental-licensing inspection system. An October 2025 proposed ordinance would require properties with 40 or more violation points to seek City Council approval at renewal. Confirm current rules with the city before buying.
Market Comparison
The Twin Cities STR market posted 64.9% occupancy and a $179 ADR in September 2026. That level of occupancy points to steady demand from leisure, convention and business travel, and the market earns its results through volume of booked nights and not through premium pricing.
That pattern fits the year-over-year data. Occupancy rose 4.0% while ADR rose only 0.2%, and revenue still rose 10.5%. The luxury tier at $326 and professionally managed tier at $237 both sit well above the $179 all-listings ADR, which shows the market can support higher rates for stronger product.
Seasonality is pronounced. Occupancy ranges from 48.3% in January to 74.0% in July, so winter months sit well below the June through August window. Top-operator names are tracked at a shared regional level rather than uniquely for Minneapolis, so this profile omits them. The market suits investors who value occupancy, summer strength and clear licensing rules over high nightly rates.
Frequently Asked Questions About Minneapolis, Minnesota
What is the average daily rate for Airbnb in Minneapolis?
What is the occupancy rate for short-term rentals in Minneapolis?
How much do Minneapolis short-term rentals earn per month?
Are short-term rentals legal in Minneapolis?
Do I have to live in my Minneapolis rental to operate it as an STR?
What are the best and worst months for Minneapolis STRs?
How far ahead do guests book and how long do they stay?
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