Bozeman, Montana Short-Term Rental Market
Bozeman STRs averaged $334/night at 33.8% occupancy in April 2026 — new investor permits banned since December 2023, ADR up 12.1% year-over-year.
Quick Answer: Bozeman, Montana is an active short-term rental market. average occupancy in the Bozeman/Yellowstone Natl Park market area is 64%. average monthly revenue in the Bozeman/Yellowstone Natl Park market area is $6,823. average daily rate in the Bozeman/Yellowstone Natl Park market area is $389. the top operator in the Bozeman/Yellowstone Natl Park market area is Stay Montana with 201 listings. market score is 70/100 (grade C).
Market data reflects the Bozeman/Yellowstone Natl Park regional market, which includes Bozeman. Regulations, taxes, and permit details below are specific to Bozeman.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Bozeman, Montana implemented a ban on new non-owner-occupied (Type 3) short-term rental permits via City Ordinance 2149, effective December 14, 2023. New STRs must be owner-occupied primary residences. The market still shows active grandfathered inventory as of April 2026, recording an average daily rate of $334, occupancy of 33.8%, and RevPAR of $113.
Year-over-year, occupancy declined 5.6 percentage points while ADR surged 12.1%, reflecting the supply contraction from the ban combined with sustained strong demand from a rapidly growing city of approximately 56,114 residents near Yellowstone, Big Sky, and Bridger Bowl. Revenue is down 1.5% year-over-year.
Bozeman draws approximately 4.08 million annual visitors. The legacy active inventory reflects roughly 100 grandfathered Type 3 permits plus a significantly larger pool of primary-residence-based Type 1, 2A, and 2B operators. ADU-based permits (Type 2B) remain available for owner-occupied properties.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 48% |
| Feb | 63% |
| Mar | 60% |
| Apr | 35% |
| May | 57% |
| Jun | 73% |
| Jul | 73% |
| Aug | 65% |
| Sep | 59% |
| Oct | 45% |
| Nov | 39% |
| Dec | 52% |
Month-by-month nightly rates and revenue figures for Bozeman are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Top Short-Term Rental Operators in Bozeman/Yellowstone Natl Park market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Bozeman/Yellowstone Natl Park market as a whole, which includes Bozeman, so these counts are not Bozeman-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Stay Montana | 201 | 7,915 | ★ 4.74 |
| 2 | Evolve | 131 | 9,076 | ★ 4.82 |
| 3 | Big Sky Vacation Rentals | 130 | 3,266 | ★ 4.87 |
| 4 | Two Pines Properties | 123 | 2,649 | ★ 4.87 |
| 5 | Mountain Home | 115 | 5,070 | ★ 4.84 |
What Kind of STR Should I Buy in Bozeman?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Bozeman 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 | 29.9% |
| vrbo | 11.5% |
| both | 58.6% |
Home Value Trends (Bozeman)
Typical home values, median sale prices, and the 10-year price trend for Bozeman 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 Bozeman — 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
Bozeman operates under City Ordinance 2149 (effective December 14, 2023). New Type 3 (non-owner-occupied whole-home) STR permits are permanently banned. Three types remain active: Type 1 (owner present during rental, allowed in all zones), Type 2A (primary residence rented while owner is temporarily away, allowed in most zones except the RA residential district under a February 2026 UDC update), and Type 2B (ADU or second unit in owner’s primary-residence building). All require operators to reside at the property for at least 70% of the calendar year.
Approximately 100 legacy Type 3 permits continue under grandfather status and do not transfer upon property sale. All active operators must hold a City STR Hosting Permit ($250 annual fee) plus a Montana Public Accommodations License from the Gallatin City-County Health Department. A fire and safety inspection is required.
The occupancy tax rate is 8%. Enforcement is rated strict. Investors seeking Bozeman-area STR opportunities should verify whether a Type 2A or 2B structure is viable for their situation.
Market Comparison
Bozeman’s April 2026 ADR of $334 is approximately 52% above the US STR median of approximately $220, while occupancy at 33.8% is well below the national median — reflecting the April shoulder season data point rather than peak-season performance.
Stay Montana leads the market with 201 listings and 7,915 reviews (4.74 average rating). Evolve follows with 131 listings and 9,076 reviews (4.82 rating). Big Sky Vacation Rentals holds 130 listings (4.87 rating). Two Pines Properties manages 123 listings (4.87 rating). Mountain Home rounds out the top five with 115 listings (4.84 rating).
All five top operators maintain ratings above 4.74, indicating a highly competitive, quality-focused operator landscape. The presence of Montana-specialized operators (Stay Montana, Big Sky Vacation Rentals, Two Pines Properties) alongside Evolve reflects the local market knowledge advantage in managing seasonal demand in Bozeman.
Frequently Asked Questions About Bozeman, Montana
Can investors buy property in Bozeman to operate as an STR?
What is the average nightly rate for Bozeman short-term rentals?
What occupancy rate can I expect in Bozeman?
What permits are required for a Bozeman STR?
What taxes apply to Bozeman short-term rentals?
What are the peak revenue months for Bozeman?
Are ADU-based STRs still allowed in Bozeman?
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