Emigrant, Montana Short-Term Rental Market
Emigrant, MT STRs averaged $334/night at 33.7% occupancy in April 2026, with revenue growth scoring 94 out of 100.
Quick Answer: Emigrant, Montana is an active short-term rental market. average occupancy in the Bozeman/Yellowstone Natl Park market area is 76%. average monthly revenue in the Bozeman/Yellowstone Natl Park market area is $7,039. average daily rate in the Bozeman/Yellowstone Natl Park market area is $382. the top operator in the Bozeman/Yellowstone Natl Park market area is Stay Montana with 198 listings. market score is 70/100 (grade C).
Market data reflects the Bozeman/Yellowstone Natl Park regional market, which includes Emigrant. Regulations, taxes, and permit details below are specific to Emigrant.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Emigrant is a small unincorporated community of roughly 465 residents in Park County’s Paradise Valley, positioned about 30 miles north of Yellowstone National Park’s Gardiner entrance. The short-term rental market here serves as a gateway lodging base for Yellowstone visitors, fly anglers, wilderness hikers, and guests of Chico Hot Springs Resort. As of April 2026, the market recorded an average daily rate of $334 and occupancy of 33.7%, reflecting the seasonal spring shoulder period. RevPAR stood at $112.71.
The active listing pool totals approximately 5,478 properties. Entire-place rentals dominate at 5,258 listings (96% of supply), with 212 private rooms and just 8 shared rooms. By bedroom count: 1-bedroom units make up 1,583 listings, 2-bedrooms 1,394, 3-bedrooms 1,279, 4-bedrooms 758, and 5-bedroom-plus properties 450. Channel distribution shows 3,210 listings active on both Airbnb and VRBO simultaneously, 1,637 on Airbnb only, and 631 on VRBO only, indicating broad dual-platform coverage among operators.
Year-over-year as of April 2026, occupancy declined 5.64 percentage points while ADR rose 12.15%. Revenue slipped 1.51% year-over-year against that backdrop. The market’s composite score is 69.78 out of 100, with rental demand scoring 76.05 and revenue growth reaching 94.13, indicating strong underlying revenue momentum despite near-term occupancy pressure.
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 Emigrant 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 Emigrant, so these counts are not Emigrant-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Stay Montana | 198 | 7,922 | ★ 4.75 |
| 2 | Big Sky Vacation Rentals | 132 | 3,304 | ★ 4.87 |
| 3 | Evolve | 128 | 9,092 | ★ 4.85 |
| 4 | Two Pines Properties | 123 | 2,649 | ★ 4.87 |
| 5 | Mountain Home | 115 | 5,096 | ★ 4.84 |
What Kind of STR Should I Buy in Emigrant?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Emigrant 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 (Emigrant)
Typical home values, median sale prices, and the 10-year price trend for Emigrant 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 Emigrant — 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
Emigrant is an unincorporated community in Park County with no city-level STR ordinance. The regulatory framework comes from two layers: Montana state requirements and Park County land-use rules.
At the state level, all short-term rentals must hold a Montana Public Accommodation License issued by the Department of Public Health and Human Services (DPHHS), renewed annually by December 31. The base license fee is approximately $40 for properties with 1 to 10 rooms. Guests pay Montana’s combined 8% Lodging Facility Sales and Use Tax on stays of 29 nights or fewer; Airbnb and VRBO collect and remit this tax automatically for platform-booked stays. Emigrant is not inside a resort-tax district, so no additional local resort tax applies.
There is no statewide cap on rental nights, no owner-occupancy requirement, and no primary-residence mandate. Park County administers a small number of citizen-initiated zoning districts in Paradise Valley; most of the area is unzoned. Where a property falls inside a zoning district, overnight lodging may require a conditional or special-use permit. Subdivision covenants on platted lots frequently restrict transient or commercial use and should be reviewed before operating. Septic capacity certified by Park County Environmental Health or Montana DEQ commonly limits the number of guests a property can legally accommodate.
Enforcement in this rural area is minimal relative to Montana cities. Prospective operators should confirm parcel zoning with Park County Planning in Livingston and verify DPHHS licensing requirements directly.
Market Comparison
Against national STR benchmarks (median occupancy approximately 55%, median ADR approximately $220), Emigrant’s April 2026 occupancy of 33.7% is below seasonal norms, but this reflects the spring shoulder period in a highly seasonal market. The full-year 2025 average occupancy of 56.5% aligns closely with the national median, while the 2025 average ADR of $396 is approximately 80% above the national median, driven by Yellowstone gateway premiums and the area’s position as an outdoor recreation destination.
The professional management segment is well-developed for a market of this size. Stay Montana leads with 198 listings and 7,922 reviews at a 4.75 average rating. Big Sky Vacation Rentals holds 132 listings with a 4.87 rating across 3,304 reviews. Evolve manages 128 listings with 9,092 reviews at 4.85. Two Pines Properties operates 123 listings (4.87 rating, 2,649 reviews) and Mountain Home manages 115 listings with 5,096 reviews at 4.84. The top five operators together account for approximately 696 listings, representing roughly 13% of the active market, indicating a relatively fragmented supply where independent operators retain a strong majority.
Frequently Asked Questions About Emigrant, Montana
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