Bozeman, Montana Short-Term Rental Market
Bozeman bans new non-owner-occupied rentals as the region posted a $344 ADR and 63.6% occupancy in September 2026.
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 $5,797. average daily rate in the Bozeman/Yellowstone Natl Park market area is $344. 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
This profile uses the southwest Montana STR market, a shared regional series that also covers Livingston, Ennis, and West Yellowstone, so the performance figures below describe the region around Bozeman rather than the city alone. The data runs through September 2026. In that month the average daily rate across all listings was $344, occupancy was 63.6%, and average monthly revenue per listing was $5,797. Year over year, ADR rose 13.2%, occupancy gained 2.3%, and revenue grew 6.8%. The entire-place ADR was $353. For the first nine months of 2026, occupancy averaged 59.9%, ADR averaged $466, and monthly revenue averaged $7,224, compared with 56.4%, $396, and $5,889 for full-year 2025. Summing the twelve seasonal months gives annualized revenue of $57,627 per listing. Demand is anchored by Bozeman itself. About 4,078,000 people traveled to Bozeman in 2024, roughly 30.4 percent of all Montana visitors, and Bozeman Yellowstone International Airport recorded 753,000 estimated nonresident arrivals, the most of any Montana airport. Bozeman lodging tax revenue reached $5,180,057 in 2024, nearly double pre-pandemic levels. Visitors come for Big Sky Resort (45 miles south), Bridger Bowl (16 miles north), and Yellowstone National Park, whose north entrance is about 90 miles away. In Gallatin County, 50 percent of visitors travel as couples. Bozeman has a population of 56,114. Bedroom, channel, and listing-type counts and top-operator names are tracked at a shared regional level rather than uniquely for Bozeman, so this profile omits them. Supply growth inside the city is constrained because new non-owner-occupied permits are banned, which limits how much new whole-home inventory can enter the market.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 48% |
| Feb | 63% |
| Mar | 60% |
| Apr | 35% |
| May | 57% |
| Jun | 73% |
| Jul | 73% |
| Aug | 65% |
| Sep | 60% |
| 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 restricts new short-term rentals tightly. City Ordinance 2149, effective December 14, 2023, banned all new Type 3 (non-owner-occupied) permits. New STRs must be owner-occupied primary residences, and operators must live at the property at least 70 percent of the calendar year. Three permit types remain: Type 1 (owner present during the stay, allowed in all zones), Type 2A (primary residence rented while the owner is away), and Type 2B (an ADU or second unit on an owner-occupied lot). About 100 legacy Type 3 permits continue under grandfather status only if uninterrupted, and they do not transfer on sale. Every operator needs the City STR Hosting Permit ($250, renewed annually) plus a Montana Public Accommodations License from the Gallatin City-County Health Department. A fire and safety inspection is required every three years, and permit numbers must appear on every listing. On February 1, 2026, the updated Unified Development Code (Ordinance 2151) merged the RS, R1, and R2 districts into a new RA district. Only Type 1 STRs are permitted in RA, and Type 2A and 2B are prohibited there, so some Type 2 permits may no longer qualify. Outside city limits in Gallatin County, STRs are allowed only in zoning districts that explicitly list them, mainly Gallatin Canyon/Big Sky and Hebgen Lake, while unzoned county land has no zoning restriction. Montana’s combined 8 percent lodging tax applies to stays of 29 days or fewer, and platforms such as Airbnb collect it. Enforcement is rated strict, and platforms must verify permit numbers and share listing data with the city.
Market Comparison
The southwest Montana STR market posted 63.6% occupancy and a $344 ADR in September 2026. The luxury ADR of $581 is about 69% above the all-listings ADR, and the professionally managed ADR of $435 is about 26% above it. Annual performance has also improved: occupancy was 56.4% in 2025 and is 59.9% for the first nine months of 2026, while ADR rose from $396 to $466 over the same comparison. The market is highly seasonal, though. Occupancy falls to 35.5% in April and 38.7% in November, so annual results depend on strong summer and ski-season months. Bedroom, channel, and listing-type counts and top-operator names are tracked at a shared regional level rather than uniquely for Bozeman, so this profile omits them. The main difference from many national markets is regulatory. New non-owner-occupied permits are banned in Bozeman, so national investor playbooks built on buying and renting out whole homes do not apply to new purchases in the city.
Frequently Asked Questions About Bozeman, Montana
Can I buy a house in Bozeman and run it as an Airbnb without living there?
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What changed for Bozeman STRs in 2026?
What taxes apply to short-term rental stays in Bozeman?
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