Jefferson City STR market shows stable demand at 51% annual occupancy with a 117% ADR increase since 2021.
Market Overview
Jefferson City, Missouri operates a compact short-term rental market with 90 active listings as of February 2026, up from 42 listings in 2021. That 114% supply growth over five years has reshaped market dynamics in meaningful ways. Average daily rates have climbed from $120 in 2021 to $158 in 2026, a 32% gain, reflecting both inflationary pressure and a stronger mid-tier operator cohort entering the market.
Occupancy tells a more complicated story. The market averaged 61.7% in 2021, then declined steadily to 47.3% in 2024 before recovering to 51.4% in 2025 as the supply expansion slowed. February 2026 came in at 34%, which is consistent with seasonally weak winter performance rather than a structural demand problem. The median active property earns roughly $2,485 per month on an annualized 2025 basis.
The market serves primarily government and legislative visitors (Jefferson City is Missouri’s state capital), plus regional leisure travelers drawn to the Missouri River corridor and the city’s historic downtown. Annual visitor volume is approximately 500,000. With a population of 42,564, this is not a large resort destination, and investors should size expectations accordingly. The market rewards well-positioned, well-priced properties but has limited headroom for oversized revenue projections.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue | Active Listings |
|---|---|---|---|---|
| Jan | 43% | $136 | $1,816 | 73 |
| Feb | 44% | $135 | $1,685 | 73 |
| Mar | 53% | $129 | $2,348 | 61 |
| Apr | 59% | $130 | $2,582 | 61 |
| May | 59% | $139 | $2,718 | 59 |
| Jun | 58% | $141 | $2,679 | 67 |
| Jul | 57% | $141 | $2,721 | 71 |
| Aug | 54% | $141 | $2,614 | 71 |
| Sep | 57% | $143 | $2,534 | 71 |
| Oct | 59% | $142 | $2,733 | 69 |
| Nov | 52% | $138 | $2,292 | 69 |
| Dec | 46% | $136 | $2,072 | 72 |
Jefferson City follows a clear seasonal pattern tied to government activity, spring travel, and fall foliage demand. The market divides into three distinct phases.
Winter (January and February) is the slowest period. Average occupancy runs 42.8% in January and 43.6% in February, with ADRs around $135 to $136. Average monthly revenue during these months is approximately $1,816 (January) and $1,685 (February). Investors should underwrite these months conservatively.
Spring through fall (March through October) is the core earning period. Occupancy climbs sharply from 52.8% in March to a plateau of 59.4% in April, May, and October. ADR holds in the $129 to $143 range across this window, with September peaking at $143. Average monthly revenue ranges from $2,348 (March) to $2,733 (October). July and October are historically the strongest revenue months at $2,721 and $2,733 respectively.
Late fall (November and December) sees a pullback to 51.6% and 46.4% occupancy. Revenue averages $2,292 in November and $2,072 in December, which is still 23% above the February trough.
The practical implication: operators pricing dynamically can capture the April, May, July, September, and October demand windows. Static pricing set to the annual average will leave money on the table during peak months and price out guests during January and February.
Revenue Breakdown
| Metric | 25th Pctile | Median | 75th Pctile | 90th Pctile |
|---|---|---|---|---|
| Revenue/mo | $654 | $1,263 | $2,115 | $3,157 |
| ADR | $102 | $133 | $186 | $258 |
| Occupancy | 18% | 29% | 50% | 71% |
Revenue in Jefferson City is highly stratified. In February 2026, the lowest-performing quarter of properties (p25) averaged $654 per month. The median property earned $1,262.50. Upper-quartile properties (p75) averaged $2,115, and top-decile properties (p90) averaged $3,157.
On a full-year 2025 basis, average monthly revenue was $2,485, with annualized revenue of approximately $29,820. The average RevPAR (revenue per available room) as of February 2026 was $52.40, with a median of $45.10.
The performance gap between the bottom and top of the market is substantial: a p90 property earns roughly 4.8 times what a p25 property earns in the same month. This spread is larger than in more commoditized STR markets and reflects the importance of property quality, location relative to the Capitol complex and downtown, and listing optimization. Operators who invest in professional photography, responsive management, and dynamic pricing consistently separate themselves from the median in this market.
Investment Analysis
Revenue Trend
RevPAR & ADR Trend
| Date | Revenue | RevPAR | ADR |
|---|---|---|---|
| Mar 2021 | $2,509 | $81 | $113 |
| Apr 2021 | $2,812 | $94 | $123 |
| May 2021 | $2,883 | $93 | $122 |
| Jun 2021 | $3,202 | $107 | $123 |
| Jul 2021 | $2,935 | $95 | $123 |
| Aug 2021 | $2,796 | $90 | $121 |
| Sep 2021 | $2,713 | $90 | $121 |
| Oct 2021 | $2,833 | $91 | $121 |
| Nov 2021 | $2,540 | $85 | $119 |
| Dec 2021 | $2,080 | $67 | $118 |
| Jan 2022 | $1,480 | $48 | $110 |
| Feb 2022 | $1,551 | $55 | $114 |
| Mar 2022 | $2,354 | $76 | $113 |
| Apr 2022 | $2,549 | $85 | $115 |
| May 2022 | $2,787 | $90 | $120 |
| Jun 2022 | $2,929 | $98 | $128 |
| Jul 2022 | $3,197 | $103 | $133 |
| Aug 2022 | $2,953 | $95 | $132 |
| Sep 2022 | $2,629 | $88 | $129 |
| Oct 2022 | $2,845 | $92 | $133 |
| Nov 2022 | $2,570 | $86 | $126 |
| Dec 2022 | $2,233 | $72 | $124 |
| Jan 2023 | $1,961 | $63 | $125 |
| Feb 2023 | $1,759 | $63 | $124 |
| Mar 2023 | $2,339 | $76 | $129 |
| Apr 2023 | $2,555 | $85 | $130 |
| May 2023 | $2,716 | $88 | $137 |
| Jun 2023 | $2,277 | $76 | $138 |
| Jul 2023 | $2,781 | $90 | $137 |
| Aug 2023 | $2,257 | $73 | $135 |
| Sep 2023 | $2,109 | $70 | $136 |
| Oct 2023 | $2,508 | $81 | $139 |
| Nov 2023 | $1,991 | $66 | $128 |
| Dec 2023 | $1,778 | $57 | $131 |
| Jan 2024 | $2,033 | $66 | $150 |
| Feb 2024 | $1,710 | $59 | $150 |
| Mar 2024 | $1,867 | $60 | $151 |
| Apr 2024 | $2,275 | $76 | $140 |
| May 2024 | $2,383 | $77 | $158 |
| Jun 2024 | $2,467 | $82 | $157 |
| Jul 2024 | $2,202 | $71 | $153 |
| Aug 2024 | $2,315 | $75 | $158 |
| Sep 2024 | $2,636 | $88 | $166 |
| Oct 2024 | $2,461 | $79 | $156 |
| Nov 2024 | $1,993 | $66 | $156 |
| Dec 2024 | $2,100 | $68 | $144 |
| Jan 2025 | $1,777 | $57 | $136 |
| Feb 2025 | $1,939 | $69 | $134 |
| Mar 2025 | $2,668 | $86 | $142 |
| Apr 2025 | $2,720 | $91 | $142 |
| May 2025 | $2,820 | $91 | $158 |
| Jun 2025 | $2,522 | $84 | $160 |
| Jul 2025 | $2,489 | $80 | $160 |
| Aug 2025 | $2,750 | $89 | $159 |
| Sep 2025 | $2,583 | $86 | $161 |
| Oct 2025 | $3,020 | $97 | $163 |
| Nov 2025 | $2,369 | $79 | $159 |
| Dec 2025 | $2,167 | $70 | $164 |
| Jan 2026 | $1,827 | $59 | $161 |
| Feb 2026 | $1,468 | $52 | $155 |
Occupancy vs Supply
| Date | Occupancy | Active Listings |
|---|---|---|
| Mar 2021 | 49% | 36 |
| Jun 2021 | 75% | 41 |
| Sep 2021 | 66% | 43 |
| Dec 2021 | 56% | 44 |
| Mar 2022 | 56% | 43 |
| Jun 2022 | 64% | 73 |
| Sep 2022 | 57% | 75 |
| Dec 2022 | 50% | 76 |
| Mar 2023 | 56% | 77 |
| Jun 2023 | 52% | 75 |
| Sep 2023 | 54% | 70 |
| Dec 2023 | 39% | 71 |
| Mar 2024 | 41% | 65 |
| Jun 2024 | 52% | 53 |
| Sep 2024 | 52% | 74 |
| Dec 2024 | 47% | 80 |
| Mar 2025 | 62% | 85 |
| Jun 2025 | 49% | 92 |
| Sep 2025 | 55% | 92 |
| Dec 2025 | 40% | 91 |
Entry costs in Jefferson City are relatively accessible. Typical home values sit at $268,352, with a median sale price of $258,000. Properties are moving quickly, with a median of 14 days to pending and a sale-to-list ratio of exactly 1.00, indicating a balanced market where sellers are getting asking price but not routinely receiving overbids.
At the median operator level (p50), February 2026 revenue was $1,262.50 on a 29% occupancy rate. On an annualized basis using 2025 full-year averages, median revenue was approximately $2,485 per month or roughly $29,800 per year. At $258,000 acquisition cost and a conservative 25% gross margin after taxes, platform fees, and operating expenses, a median-performing property would generate a gross yield of approximately 11.5% before debt service.
Top-quartile properties (p75) averaged $2,115 in February and closer to $2,733 per month during peak season months. The p90 earner brought in $3,157 in February alone, suggesting that high-performing properties in the right location can sustain meaningful cash flow. However, the wide spread between p25 ($654/mo in February) and p90 ($3,157/mo) signals high performance variance. Operators at the bottom quartile face a challenging economics picture, particularly given the tax obligations of 7.25% sales tax plus 2% lodging tax on top of platform fees.
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| Date | Typical Home Value |
|---|---|
| Mar 2021 | $181,975 |
| Sep 2022 | $224,306 |
| Mar 2024 | $241,768 |
| Sep 2025 | $260,261 |
Booking Insights
Jefferson City guests book with a moderate lead time. The average booking is made 32.8 days in advance, but the median is just 14 days, indicating that the bulk of bookings are last-minute or short-notice while a smaller group of advance planners pulls the average up. This bimodal pattern is common in government and business-travel markets where legislative session dates are known well in advance but individual trip timing shifts frequently.
Average length of stay is 6.6 nights, but the median stay is 3 nights. Again, a small number of longer stays (likely legislative session workers or extended project personnel) elevates the average. The practical majority of guests are staying for long weekends or short business trips.
For pricing strategy, these numbers support a tiered approach: slightly higher nightly rates for 1- to 3-night stays (the volume segment), with moderate discounts for 7-night-plus bookings to lock in the longer-stay segment. Operators should keep availability calendars open well into the future to capture the advance planners, while using pricing tools that allow last-minute discounting to fill gaps in the 7-to-14-day window.
Short-Term Rental Regulations
Jefferson City has established a formal short-term rental compliance framework. Property owners must obtain a business license from the city before operating. The application process includes a fee component, and licenses are subject to renewal.
On the tax side, operators must collect and remit a 7.25% sales tax plus a 2% lodging tax from guests. These taxes apply to all short-term rental stays and must be remitted to the city on a schedule defined by the municipality. Combined, these taxes add 9.25% to each booking, which is a material factor in pricing strategy.
Zoning restrictions are in effect. Not all residential areas permit short-term rentals, and operators should verify that a specific parcel is located in a permitted zone before purchasing. The city’s planning and zoning department is the authoritative source for parcel-level zoning status.
Safety compliance is required. Smoke detectors and carbon monoxide alarms must be installed and functional. Inspections may be triggered during the license application or renewal process.
Violations can result in fines or license revocation. The city maintains landlord and tenant information resources at jeffersoncitymo.gov, and its plans and publications page provides additional regulatory context. Investors are advised to consult the city directly and, if needed, retain a local attorney or property manager familiar with the current enforcement environment before committing to a purchase.
Market Comparison
Jefferson City is a small state capital market, not a leisure destination, so direct comparisons to resort markets are not meaningful. Relative to comparable Midwest government-seat markets, Jefferson City’s metrics reflect the classic tradeoffs of the category: lower absolute revenue ceiling but more consistent year-round demand from government and business travel.
The market’s 2025 annual occupancy of 51.4% is below the national STR average, which typically runs in the high 50s to low 60s for mid-tier markets. However, the ADR of $153 (2025 annual average) is competitive for a non-resort Midwest market and has grown 27.5% since 2021 ($120), outpacing many comparable markets.
Supply growth has been the dominant story: from 42 listings in 2021 to a peak of 91 in early 2026. That 117% supply increase has compressed per-property revenue, with average annual revenue dropping from $2,730 in 2021 to $2,203 in 2024 before recovering to $2,485 in 2025. The supply growth appears to be moderating, which is a constructive signal for operators entering in 2026. A market with stabilizing supply and rising ADR is generally more favorable for new entrants than one still absorbing rapid supply growth.
Frequently Asked Questions About Jefferson City, Missouri
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