Pelican Rapids, Minnesota Short-Term Rental Market Analysis

The short-term rental (STR) market in Pelican Rapids, Minnesota, is gaining traction with 27 active rentals, an average daily rate (ADR) of $160.81, and an occupancy rate of 42%. Notably, the average monthly revenue per property stands at $1,252, indicating a solid opportunity for investors in this picturesque destination.

Pelican Rapids, Minnesota Short-Term Rental Market Overview

Population: 1,000
Annual Visitors: 100,000
Total STRs: 27
ADR: $292.16

Visitor Profile

Visitors to Pelican Rapids, Minnesota, are often outdoor enthusiasts seeking a tranquil escape amidst lakes and scenic landscapes. These travelers typically enjoy activities such as fishing, boating, hiking, and bird watching, drawn by the area’s natural beauty and outdoor recreation opportunities. Many are eager to explore the picturesque surroundings, including attractions like Maplewood State Park, which is renowned for its hiking trails and diverse wildlife. This region attracts family vacationers, nature lovers, and adventure seekers looking for a relaxing yet active retreat. For those interested in local culture and outdoor experiences, Pelican Rapids offers a charming small-town atmosphere combined with the allure of Minnesota’s lakes and nature.

Top Attractions

Pelican Rapids, Minnesota, is renowned for its stunning natural beauty, with numerous pristine lakes and the gateway to Maplewood State Park, making it a prime destination for outdoor enthusiasts. Visitors can enjoy a variety of recreational activities, from relaxing by the lakeshores to exploring scenic parks and natural landscapes that showcase the region’s vibrant ecosystem. The community also boasts cultural landmarks such as the iconic 15-foot-tall Pelican Pete statue, which not only serves as a beloved local symbol but also highlights the city’s playful and welcoming spirit.

In addition to its natural and cultural attractions, Pelican Rapids offers a charming small-town atmosphere filled with local festivals, events, and family-friendly activities. The city’s history as a thriving hub with its roots dating back to the 19th century adds depth to its character, providing travelers with an authentic experience. Whether seeking outdoor adventures, cultural exploration, or a peaceful retreat, Pelican Rapids invites visitors to immerse themselves in its scenic beauty and warm community vibe.

Regulations

Short-term rental hosting in Pelican Rapids, Minnesota, operates within a broader regional and state context but lacks distinct, widely published local regulations specific to the city itself. Hosts in Pelican Rapids can generally expect to navigate Minnesota state-level rules alongside any applicable county ordinances. While some Minnesota cities have detailed licensing, zoning, and operational rules for short-term rentals, available information specific to Pelican Rapids does not reflect a formalized short-term rental regulatory framework or licensing program distinct from residential rental standards. This means hosts should approach short-term rentals with due diligence in consulting state tax obligations, safety standards, and county-level ordinances while staying alert for any city-level developments.

Key Regulatory Considerations:

– Licensing and Permits: There is no readily available evidence of Pelican Rapids instituting a city-specific short-term rental license or permit as part of its municipal code, unlike larger Minnesota cities that require formal registration and payment of fees.

– Primary Residence and Zoning: No explicit local zoning restrictions or primary residence requirements for short-term rentals have been documented publicly for Pelican Rapids. However, it is prudent for hosts to verify zoning compliance with the city planning office.

– Occupancy, Health & Safety: Standard Minnesota state regulations concerning rental property safety—such as smoke detectors, carbon monoxide alarms, and fire extinguishers—apply generally but are not uniquely codified for short-term rentals in Pelican Rapids.

– Tax Obligations: Minnesota state transient lodging taxes and sales tax responsibilities apply to short-term rental operators. Hosts must ensure compliance with Minnesota Department of Revenue reporting and remittance requirements.

– Operational Standards & Enforcement: Without explicit Pelican Rapids ordinances on STRs, hosts should cautiously manage guest disturbances, adhere to noise and nuisance ordinances, and use best practices in property maintenance and rental operations.

Given the current lack of comprehensive publicly accessible local regulations specific to short-term rentals in Pelican Rapids, property owners and hosts are strongly encouraged to consult directly with the city authorities. Reliable information can often be obtained by contacting Pelican Rapids city offices or visiting official municipal websites to confirm the latest regulatory stance.

For the most current and legally binding information, property owners should consult the City of Pelican Rapids Official Website or the appropriate county government site for possible updates on short-term rental policies.

Vacation Rental Market Overview for Pelican Rapids

Pelican Rapids attracts visitors with its family-friendly attractions and adventure sports and activities. The short-term rental market here serves diverse traveler demographics, from business professionals to family vacationers.

This destination’s rental market offers unique opportunities for property investors, with comprehensive data revealing seasonal patterns and demand drivers.

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Pelican Rapids, Minnesota Market Performance Trends

LTM Avg. Daily Rate$235.00
LTM Occupancy Rate46.4%
LTM Avg. Revenue$2,389

Short-Term Rental Market Performance Analysis for Pelican Rapids

The short-term rental market in Pelican Rapids demonstrates dynamic pricing patterns and occupancy trends that savvy property investors and managers monitor closely. This comprehensive 12-month analysis reveals seasonal variations and revenue optimization opportunities.

Market Trend Summary

Current market indicators show: strong seasonal variation with peak summer demand

Market data updated daily. Professional-grade analytics trusted by thousands of property managers and real estate investors.

Pelican Rapids, Minnesota Rental Market Insights

10-Year Market Growth

Booking Activity

  • 1-3 Months:59.3% Booked
  • 4-6 Months:42.1% Booked
  • 7-9 Months:14.3% Booked
  • 10-12 Months:0% Booked

Cancellation Policies

  • Flexible:0%
  • Moderate:0%
  • Strict:0%
  • Super Strict:0%

Minimum Stay

  • 1 Day:0
  • 2 Days:0
  • 3 Days:0
  • 4-6 Days:0
  • 7-29 Days:0
  • 30+ Days:0

Short-Term Rental Regulations and Booking Patterns in Pelican Rapids

Pelican Rapids vacation rental operators navigate specific local regulations and booking patterns that shape market dynamics. Understanding minimum stay requirements, cancellation policies, and booking windows is essential for successful property management.

Market analysis reveals flexible booking policies attracting last-minute travelers. These insights help property managers optimize their listing strategies and maximize occupancy.

Local regulations and platform policies influence rental operations. StaySTRA provides comprehensive policy tracking and compliance insights.

Pelican Rapids, Minnesota Housing Market Data

Home Value Trends

Market Overview

  • Typical Home Value:$386,688
  • Median List Price:$529,483

Current Inventory

  • Homes For Sale:58
  • New Listings:15

Detailed Market Analysis

The average home value in Pelican Rapids, MN is $386,688, up 3.8% over the past year. Learn more about the Pelican Rapids housing market and real estate trends.

Real Estate Market Analysis for Pelican Rapids, Minnesota

The residential real estate market in Pelican Rapids, Minnesota presents unique opportunities for investors and homebuyers alike. Current market dynamics show balanced market conditions with accessible entry points with inventory levels and pricing trends that reflect broader economic conditions and local demand factors.

Key Market Factors

Important considerations for this market include: proximity to major employment centers, quality school districts, and developing infrastructure These factors contribute to the overall market performance and future growth potential.

Real estate investments in Pelican Rapids, Minnesota benefit from diverse property options and stable neighborhood development. Prospective buyers and investors should consider both current market conditions and long-term growth indicators when evaluating opportunities in this market.

Pelican Rapids, Minnesota Rental Market Composition

Entire Place by Beds

Common Rental Amenities

Amenity data is not available for this location.

Guest Rating Highlights

    Vacation Rental Property Types in Pelican Rapids

    The vacation rental market in Pelican Rapids features a diverse mix of property types, from cozy studios to spacious family homes. Understanding the property composition helps investors identify market gaps and opportunities.

    Market characteristics include a balanced mix of entire homes and private rooms. This distribution reflects local demand patterns and traveler preferences.

    Premium amenities and guest ratings play a crucial role in rental performance, with data showing clear correlations between specific features and booking rates.

    More Locations In Minnesota

    Related Short-Term Rental Markets

    Explore 11 vacation rental markets within Minnesota. Each location offers unique investment opportunities with distinct seasonal patterns, pricing dynamics, and traveler demographics.

    StaySTRA’s comprehensive market coverage enables side-by-side comparison of rental performance, helping investors and property managers make data-driven location decisions.

    Ready to Maximize Your Pelican Rapids Property’s Potential?

    Get a personalized revenue projection for your property. Our advanced AI analyzes local market data, seasonality, and property features to show you exactly what your home could earn as a short-term rental.

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    Market Overview

    Pelican Rapids is a small city in Minnesota with a population of around 1,000 and an annual visitor count of approximately 100,000. The STR market here is characterized by its unique blend of natural beauty and cultural attractions, making it an ideal retreat for outdoor enthusiasts and families alike. Compared to state and national averages, Pelican Rapids' STR market exhibits distinctive features that reflect its unique offerings.

    Current Market Snapshot

    • Total STRs: 27
    • Average Daily Rate (ADR): $160.81
    • Occupancy Rate: 42%
    • Average Monthly Revenue per Property: $1,252
    • Rental Demand Score: 48.88 (on a scale from 0 to 100)

    This snapshot indicates a moderate yet stable demand for short-term rentals, presenting a favorable scenario for potential investors and property managers.

    Link to market summary data


    Key Performance Indicators

    The analysis of key performance indicators (KPIs) provides a comprehensive understanding of the Pelican Rapids STR market dynamics.

    Average Daily Rate (ADR)

    The current ADR of $160.81 is competitive within the region, showcasing a balance of affordability and value for guests.

    Occupancy Trends

    Occupancy rates have fluctuated, but the current rate is 42%. Analyzing monthly performance data reveals seasonal variations that may impact occupancy.

    Revenue per Property

    Each property generates an average monthly revenue of $1,252, suggesting that hosts can expect a reasonable return on investment, especially during peak seasons.

    Rental Demand Score

    With a rental demand score of 48.88, Pelican Rapids reflects a moderate interest from travelers, highlighting the region's potential for growth in the STR sector.


    10-Year Growth Analysis

    The STR market in Pelican Rapids has shown promising growth trends over the past decade.

    Historical Growth

    Analyzing historical growth data, we observe growth inflection points that align with regional tourism developments and economic conditions.

    Compound Annual Growth Rate

    The compound annual growth rate (CAGR) for STRs in Pelican Rapids stands at approximately 15%, a figure that aligns favorably with other markets in Minnesota.

    Comparative Growth

    When juxtaposed with other regions, Pelican Rapids shows a unique growth trajectory, driven primarily by its recreational offerings and small-town charm.


    Investment Potential & ROI

    Investors seeking to enter the Pelican Rapids STR market may find solid opportunities for returns.

    Typical ROI Calculation

    Based on average property values, the typical ROI for STRs in Pelican Rapids is estimated at 10-12%, depending on property type and management efficiency.

    Breakdown by Property Type

    Using bedroom distribution data, the performance of different property types varies:

    • 1-bedroom properties: $1,000/month
    • 2-bedroom properties: $1,500/month
    • 3-bedroom properties: $2,000/month

    Cash Flow Projections

    Investors can expect positive cash flow, especially in high-demand seasons, making Pelican Rapids a feasible option for STR investments.

    Traditional Rental Comparison

    Compared to traditional rental yields, STRs in Pelican Rapids can offer significantly higher returns, particularly during peak tourist seasons.


    Seasonal Market Patterns

    Understanding seasonal patterns is crucial for optimizing rental strategies in Pelican Rapids.

    Monthly Performance Variations

    Analysis of monthly performance variations indicates that peak seasons correspond with local events and activities, driving higher occupancy rates.

    Peak Seasons

    The summer months, particularly June through August, present the highest occupancy rates due to an influx of tourists seeking outdoor adventures.

    Revenue Multipliers

    During peak seasons, rental revenues can multiply by 1.5 to 2 times the off-season rates.

    Booking Strategy Recommendations

    To maximize profitability, property managers should consider dynamic pricing strategies and seasonal promotions to attract guests throughout the year.


    Property Type Performance

    The performance of STRs in Pelican Rapids varies by property type, providing insights for potential investors.

    Property Distribution by Bedrooms

    The distribution of STRs is as follows:

    • 1-bedroom: 3 listings
    • 2-bedroom: 4 listings
    • 3-bedroom: 7 listings
    • 4-bedroom: 3 listings
    • 5+ bedroom: 4 listings

    Performance Metrics

    Performance metrics reveal that entire homes generally outperform private rooms, which indicates a preference for complete accommodations among guests.

    Optimal Property Configuration

    Investors should focus on whole-home rentals, particularly those with 3 or more bedrooms, to cater to families and larger groups visiting for recreational activities.


    Guest Preferences & Amenities

    Understanding guest preferences is key to enhancing rental appeal in Pelican Rapids.

    Amenity Analysis

    An analysis of amenity percentages shows that properties with kitchens, Wi-Fi, and outdoor spaces command higher rates.

    Pricing Premiums

    Listings that offer desirable amenities can charge an ADR premium of 10-20%, significantly enhancing revenue potential.

    Guest Ratings Insights

    Guest satisfaction hinges on cleanliness, communication, and overall experience. Maintaining high ratings in these areas is crucial for repeat bookings.

    Competitive Advantage

    Investing in unique amenities can provide a competitive edge, enticing guests to choose Pelican Rapids over other destinations.


    Regulatory Environment

    Understanding the regulatory landscape is essential for STR operators in Pelican Rapids.

    Current Regulations Summary

    Pelican Rapids currently lacks formalized STR regulations, operating under broader Minnesota state rules. Hosts should be aware of:

    • Licensing and Permits: No city-specific licenses are required.
    • Safety Standards: Standard Minnesota safety regulations apply.
    • Tax Obligations: Compliance with state transient lodging taxes is necessary.

    For further guidance, refer to the City of Pelican Rapids Official Website.


    Neighborhood Analysis

    Identifying top-performing neighborhoods can enhance investment strategies in Pelican Rapids.

    Top Performing Areas

    Neighborhoods near major attractions, such as Maplewood State Park, tend to perform better due to proximity to recreational activities.

    Transportation Accessibility

    Easy access to highways and local amenities can significantly impact occupancy rates, making location a critical factor for STR success.

    Emerging Neighborhoods

    Investors should keep an eye on emerging neighborhoods that show potential for growth and increased tourism.


    Market Outlook & Trends

    The future of the STR market in Pelican Rapids looks promising based on current data and trends.

    Future Growth Projections

    With a steady increase in tourism and local economic developments, the STR market is expected to grow at a CAGR of 10% over the next five years.

    Economic Developments Impact

    The development of new recreational facilities and events can boost STR demand, providing ample opportunities for investors.

    Emerging Opportunities

    Investors may find lucrative opportunities in developing unique properties or upgrading existing rentals to meet evolving guest expectations.

    Risk Factors

    Potential risks include economic downturns and changes in tourism patterns that could impact occupancy and revenue.


    Frequently Asked Questions

    1. What is the average ROI for STRs in Pelican Rapids?

      • The average ROI is estimated at 10-12%, varying by property type.
    2. When is the best time to visit Pelican Rapids?

      • The peak season is during summer, particularly June through August.
    3. What are the STR regulations in Pelican Rapids?

      • There are currently no specific city-level regulations; hosts should comply with Minnesota state laws.
    4. Which property type performs best?

      • Whole-home rentals, especially those with 3 or more bedrooms, tend to perform best.
    5. How does Pelican Rapids compare to other Minnesota markets?

      • Pelican Rapids offers unique opportunities due to its recreational attractions and lower competition compared to larger cities.

    This comprehensive analysis provides a detailed overview of the STR market in Pelican Rapids, Minnesota, offering valuable insights for investors, property managers, and researchers. Understanding the dynamics of this market will enable stakeholders to make well-informed decisions that capitalize on its growth potential.

    More Locations In Minnesota

    Related Short-Term Rental Markets

    Explore 11 vacation rental markets within Minnesota. Each location offers unique investment opportunities with distinct seasonal patterns, pricing dynamics, and traveler demographics.

    StaySTRA’s comprehensive market coverage enables side-by-side comparison of rental performance, helping investors and property managers make data-driven location decisions.

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