Ennis, Montana Short-Term Rental Market
Ennis, MT STRs averaged $334/night at 33.8% occupancy in April 2026, with revenue growing 93.95 on a 5-year trend score.
Quick Answer: Ennis, Montana is an active short-term rental market. average occupancy is 34%. average monthly revenue is $3,178. average daily rate is $334. the top operator is Stay Montana with 201 listings. market score is 70/100 (grade C).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Ennis, Montana is a small but distinctive short-term rental market anchored by world-class fly-fishing on the Madison River and proximity to Yellowstone. As of April 2026, the market reported an average daily rate of $334 and occupancy of 33.8%, yielding a RevPAR of $112.90. Average monthly revenue per active listing was $3,178.
The market’s year-over-year trajectory in April 2026 shows occupancy down 5.6% and ADR up 12.1%, with revenue essentially flat at -1.5%. This reflects a pattern common in premium outdoor markets: fewer bookings at higher prices, with total revenue holding steady.
The listing inventory is dominated by entire-place rentals (5,247 of 5,467 total active listings), consistent with a market where guests expect private accommodations. By bedroom count, 1-bedroom units lead at 1,585 listings, followed closely by 2-bedroom (1,391) and 3-bedroom (1,275) properties. Larger properties (4+ bedrooms) make up roughly 22% of inventory.
Channel distribution shows 3,203 listings on both Airbnb and VRBO, 1,637 on Airbnb only, and 627 on VRBO only. Cross-listing is the dominant strategy. The market’s overall score of 69.8 out of 100 is supported by strong revenue growth (93.95 score) and solid rental demand (75.98), with seasonality (44.39) as the primary drag given Ennis’s weather-driven booking cycles.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 48% | $446 | $5,686 |
| Feb | 63% | $501 | $7,328 |
| Mar | 60% | $502 | $7,948 |
| Apr | 35% | $266 | $2,728 |
| May | 56% | $241 | $2,989 |
| Jun | 72% | $308 | $5,161 |
| Jul | 73% | $322 | $6,024 |
| Aug | 65% | $301 | $5,292 |
| Sep | 59% | $266 | $4,187 |
| Oct | 45% | $225 | $2,855 |
| Nov | 39% | $212 | $2,205 |
| Dec | 52% | $418 | $4,444 |
Top Short-Term Rental Operators in Ennis
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | 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 Ennis?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 1,585 |
| 2 bed | 1,391 |
| 3 bed | 1,275 |
| 4 bed | 756 |
| 5 bed | 446 |
ADR by Property Tier
| Entire Home | $346 |
| Luxury | $774 |
| Professionally Managed | $553 |
Revenue by Dwelling Type
| Apartment | $2,619 |
| Entire Place | $3,238 |
| House | $3,592 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 29.9% |
| vrbo | 11.5% |
| both | 58.6% |
Investment Analysis
Ennis STR investment is characterized by high entry costs, premium nightly rates, and meaningful seasonal variance. Typical home value as of April 2026 was $640,147, with a median list price of $737,133 and 46 homes for sale in the market.
At $3,178 average monthly revenue for April 2026, annualized revenue projects to roughly $38,142 for a stabilized listing. Against the typical home value of $640,147, that implies a gross yield of approximately 6.0%. However, Ennis’s seasonal performance lifts materially in winter cabin season (January average $5,686/month, February $7,328) and summer fishing season (July $6,024), meaning operators who optimize pricing windows can exceed the April baseline substantially.
Tier performance underscores the premium opportunity: luxury-tier listings averaged $774/night versus $334 for the overall market. Professionally managed listings averaged $553/night, well above the market average. These tiers indicate that well-positioned, higher-end properties command rates more than double the all-market ADR.
A key external factor: Montana’s 2025 legislation increased property tax rates on non-qualifying short-term rentals by approximately 50%. Investors in non-owner-occupied properties should model this increased carrying cost explicitly before underwriting a return.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Ennis bookings are planned well in advance, with an average booking lead time of 52.75 days as of April 2026. This is notably longer than many urban markets and reflects the trip-planning behavior of fly-fishing and outdoor recreation travelers who coordinate guides, gear, and travel logistics before confirming lodging.
The average length of stay is 4.09 nights, consistent with a destination market where guests typically plan multi-day fishing or recreation trips rather than quick weekend stops. This LOS creates natural revenue density: fewer check-in/check-out turnovers per month, lower cleaning and logistics costs, and more stable revenue per booking.
The 53-day lead window creates a pricing opportunity. Rates set 7 to 10 weeks out capture committed travelers who are less price-sensitive than last-minute bookers. Operators who open their calendar early and use graduated pricing (higher rates for the 45-plus-day window, with a moderate discount for 14-day-and-under last-minute availability) can capture both yield-optimized advance bookings and fill residual inventory.
Short-Term Rental Regulations
Ennis, Montana requires operators to hold two licenses before accepting any bookings. First, a Montana Public Accommodation License issued by the state through the Madison County Sanitarian’s Office. Second, a Town of Ennis Short-Term Rental Business License. Properties must also pass a town inspection before operating. Both licenses renew annually on July 1.
Specific permit fee amounts are not published online; the Town Commission sets them by resolution. Operators should contact Town Hall at (406) 682-4287 for current amounts.
Montana levies an 8% lodging facility sales and use tax on rentals under 30 consecutive days (4% use tax plus 4% sales tax). Platforms such as Airbnb collect and remit this automatically. Ennis is not a designated Montana resort tax community, so no additional local resort tax applies.
There is no owner-occupancy or primary-residence requirement, and no cap on annual rental nights was found in the public record. The enforcement posture is rated moderate.
One significant state-level change applies to all Montana STR investors: 2025 legislation increased property tax rates on non-qualifying short-term rentals by approximately 50%. This affects non-owner-occupied investment properties and should be factored into any return model. Zoning eligibility by specific parcel requires direct inquiry with the Ennis Zoning and Planning department.
Market Comparison
Ennis operates well above national STR benchmarks on ADR. The US median STR ADR is approximately $220; Ennis at $334 is 52% above that figure. Nationally, median occupancy is approximately 55%; Ennis at 33.8% in April 2026 runs below that mark, reflecting the highly seasonal nature of this outdoor destination.
The revenue growth score of 93.95 (out of 100) places Ennis among the strongest growth markets in the dataset. The investability score of 69.71 and rental demand score of 75.98 indicate a market with real demand fundamentals, even if occupancy is compressed by seasonality.
The professional management market is well established. Stay Montana leads with 201 listings and 7,915 reviews (4.744 average rating). Evolve follows with 131 listings and 9,076 reviews (4.819 rating). Big Sky Vacation Rentals holds 130 listings with 3,266 reviews (4.871 rating). Together the top three operators hold approximately 462 listings, or about 8.5% of the estimated active inventory. The market remains largely independently operated, creating room for well-run new listings to compete effectively.
Frequently Asked Questions About Ennis, Montana
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