Saint Paul, Minnesota Short-Term Rental Market
Twin Cities STRs averaged $197/night at 74.8% occupancy in June 2026; Saint Paul requires a $40 host license.
Quick Answer: Saint Paul, Minnesota is an active short-term rental market. average occupancy in the Minneapolis market area is 75%. average monthly revenue in the Minneapolis market area is $3,909. average daily rate in the Minneapolis market area is $197. the top operator in the Minneapolis market area is Minnestay with 124 listings. market score is 78/100 (grade B).
Market data reflects the Minneapolis regional market, which includes Saint Paul. Regulations, taxes, and permit details below are specific to Saint Paul.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Saint Paul is the capital of Minnesota and, with Minneapolis, anchors the Twin Cities metro. Population is 307,465. StaySTRA tracks Saint Paul’s short-term rental performance data, dimension mix, and property manager roster at the Twin Cities regional level, shared with Minneapolis, so the figures below describe the Twin Cities area STR market rather than Saint Paul alone.
In June 2026, the Twin Cities area STR market posted a blended ADR of $196.93 and 74.8% occupancy, with average monthly revenue of $3,909/listing. Occupancy is up 0.77 percentage points year over year, ADR is down 5.58%, and revenue is up 0.79% year over year, a market where rate softened even as volume held roughly steady.
Longer-term, the Twin Cities area’s annual average occupancy has ranged narrowly, 58-66%, since 2017, without a clear multi-year trend, while ADR climbed from $124 in 2019 to $169 in 2025 (up 36%) before easing to $153 in the partial 2026 year to date.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 48% | $135 | $1,886 |
| Feb | 53% | $139 | $1,786 |
| Mar | 59% | $132 | $2,083 |
| Apr | 60% | $131 | $2,111 |
| May | 66% | $143 | $2,504 |
| Jun | 74% | $167 | $3,208 |
| Jul | 74% | $161 | $3,252 |
| Aug | 74% | $164 | $3,293 |
| Sep | 64% | $151 | $2,587 |
| Oct | 63% | $151 | $2,643 |
| Nov | 56% | $140 | $2,155 |
| Dec | 57% | $146 | $2,266 |
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 Saint Paul, so these counts are not Saint Paul-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 Saint Paul?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,188 |
| 2 bed | 1,317 |
| 3 bed | 842 |
| 4 bed | 588 |
| 5 bed | 370 |
ADR by Property Tier
| Entire Home | $225 |
| Luxury | $382 |
| Professionally Managed | $263 |
Revenue by Dwelling Type
| Apartment | $3,015 |
| Entire Place | $4,505 |
| House | $4,413 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 60.5% |
| vrbo | 4.6% |
| both | 34.9% |
Investment Analysis
Saint Paul’s tracked listing-tier ADR shows a wide spread: the blended all-listing ADR is $196.93, entire-home listings average $225.07, professionally-managed listings average $263.13, and the luxury tier averages $382.16, nearly double the blended rate. That spread suggests meaningful upside for operators who can move a property into the professionally-managed or luxury tier rather than competing at the blended average.
Using StaySTRA’s seasonal-sum method (summing the 12 monthly average-revenue figures rather than multiplying one month by 12), a typical Saint Paul listing generates roughly $29,774/year in revenue. Against the area’s typical home value of $301,096, that works out to a gross yield of about 9.9%, before financing, operating costs, taxes, and vacancy. Median sale price runs slightly lower, at $296,300, with 837 homes for sale and a 1.058 sale-to-list ratio, meaning homes are trading above asking on average, a competitive buyer’s environment.
Saint Paul’s Short-Term Rental Host License is inexpensive to obtain, $40 per unit, renewed annually, and there’s no owner-occupancy or primary-residence requirement, which keeps the door open to non-owner-occupied investment. The main structural constraint is per-building unit caps: an owner-occupied single-family home or duplex is generally limited to one STR unit, and larger buildings are capped at 50% of units up to four, with anything beyond that requiring a conditional use permit. StaySTRA’s market_score dataset rates Saint Paul’s rental demand at 85.2/100 and its regulation score at 75.4/100, both comparatively favorable.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Saint Paul-market bookings average a 56.45-day lead time and a 5.14-night length of stay, both consistent with a mix of leisure trips and event or convention travel tied to downtown venues like the Xcel Energy Center.
Combined with the seasonal pattern (73-74% occupancy June through August versus 48-53% in January-February), the lead-time data suggests operators should open calendars roughly two months ahead of peak summer dates and major event weekends to capture early bookings, while winter months, with shorter effective booking windows and lower occupancy, are where last-minute discounting or shorter minimum-stay rules have the most room to work.
Short-Term Rental Regulations
Short-term rentals are legal and licensed in Saint Paul under Chapter 379 of the Legislative Code. Any host must hold a Short-Term Rental Host License, $40 per unit, renewed annually; operating without one is unlawful. Applications require proof of ownership or a lease, at least $300,000 in liability insurance, and, for non-owner-occupied units, a current Fire Certificate of Occupancy. Booking platforms (Airbnb, VRBO) must separately hold their own platform license.
STRs are allowed citywide but capped per building: an owner-occupied single-family home or duplex is generally limited to one STR unit, and larger buildings are capped at 50% of units up to four; exceeding four units in a building requires a conditional use permit under zoning Sec. 65.645. There is no owner-occupancy or primary-residence mandate and no published annual night cap.
On taxes, guests pay Minnesota’s 6.875% state sales tax, Saint Paul’s 1.5% local sales tax (as of April 2024), and the city’s 3% transient lodging tax, for a combined burden of roughly 11%+. Enforcement is rated moderate, with both the Director of Safety & Inspections and the Police Chief reviewing applications.
Market Comparison
The Twin Cities area STR market’s June 2026 occupancy of 74.8% runs well above the commonly cited US STR median of roughly 55%, while its $196.93 blended ADR sits below the roughly $220 US median, though the luxury tier ($382.16) and professionally-managed tier ($263.13) both clear that national benchmark.
Top-property-manager data is tracked at the shared Twin Cities regional level rather than uniquely for Saint Paul. The regional roster (Minnestay, CozySuites, Evolve, Raspberry Rentals, Curtwood) is a Saint Paul-Minneapolis rollup, so this profile omits presenting those figures as Saint Paul’s own.
StaySTRA’s market_score dataset rates Saint Paul at 77.8/100 overall, with rental demand the standout sub-score (85.2/100) and investability the relative laggard (62.7/100).
Frequently Asked Questions About Saint Paul, Minnesota
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