Eureka, Montana Short-Term Rental Market
Eureka, MT area STRs averaged $227/night at 34.6% occupancy in April 2026, with July peaking at 77.0% occupancy and $6,457 average monthly revenue.
Quick Answer: Eureka, Montana is an active short-term rental market. average occupancy is 73%. average monthly revenue is $6,127. average daily rate is $380. the top operator is Stay Montana with 165 listings. market score is 50/100 (grade D).
Market data reflects the Flathead Valley/Glacier Natl Park regional market, which includes Eureka. Regulations, taxes, and permit details below are specific to Eureka.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Eureka sits in Montana’s Tobacco Valley in Lincoln County, near the Canadian border. The area draws outdoor-recreation and road-trip visitors to Lake Koocanusa (a 90-mile reservoir straddling the Montana-British Columbia border), the Ten Lakes Scenic Area wilderness, and the broader northwest Montana region that includes access to Whitefish Mountain Resort approximately 1.5-2 hours from Glacier National Park.
In April 2026 (a spring shoulder month), the market recorded an average daily rate of $227 and occupancy of 34.6%, generating RevPAR of $78.75 and average monthly revenue of $2,057. The STR inventory associated with this market area is large relative to Eureka’s population: approximately 5,644 channel-tracked listings. Entire-place rentals dominate at 5,451 units (97% of supply), with 192 private rooms and 1 shared room. Bedroom distribution ranges from 1-bedroom (2,106) to 5-bedroom (353), with 2-bedroom (1,455), 3-bedroom (1,120), and 4-bedroom (603) rounding out the mix. Cross-platform listings are common: 3,073 listings appear on both Airbnb and VRBO; 1,879 are Airbnb-only and 692 VRBO-only. Year-over-year in April 2026, occupancy improved 5.17 percentage points and ADR rose 7.00%, though revenue declined 4.61% on a month-to-month comparison, reflecting shoulder-season variability.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 39% | $286 | $2,945 |
| Feb | 52% | $303 | $3,495 |
| Mar | 44% | $263 | $2,970 |
| Apr | 34% | $195 | $1,792 |
| May | 52% | $222 | $2,156 |
| Jun | 68% | $306 | $4,365 |
| Jul | 77% | $333 | $6,448 |
| Aug | 68% | $317 | $5,880 |
| Sep | 54% | $266 | $3,968 |
| Oct | 33% | $200 | $2,067 |
| Nov | 33% | $178 | $1,672 |
| Dec | 51% | $286 | $2,657 |
Top Short-Term Rental Operators in Eureka
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Stay Montana | 165 | 2,400 | ★ 4.73 |
| 2 | Evolve | 131 | 6,513 | ★ 4.82 |
| 3 | Vacasa | 122 | 5,100 | ★ 4.57 |
| 4 | Whitefish Mountain Resort Lodging | 118 | 1,034 | ★ 4.65 |
| 5 | Natural Retreats | 108 | 3,953 | ★ 4.82 |
What Kind of STR Should I Buy in Eureka?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,106 |
| 2 bed | 1,455 |
| 3 bed | 1,120 |
| 4 bed | 603 |
| 5 bed | 353 |
ADR by Property Tier
| Entire Home | $386 |
| Luxury | $629 |
| Professionally Managed | $485 |
Revenue by Dwelling Type
| Apartment | $5,696 |
| Entire Place | $6,236 |
| House | $6,786 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 33.3% |
| vrbo | 12.3% |
| both | 54.4% |
Investment Analysis
The market’s revenue growth score of 80.72 is the standout sub-score, reflecting the meaningful ADR appreciation trend: from $204 in 2017 to $322 in 2025, a 58% increase over eight years. Annual average revenue also climbed from $2,310 per month in 2017 to $4,323 in 2025, again per the annual averages.
Houses generate notably higher revenue: in April 2026, houses averaged $2,328 per month versus the all-listings average of $2,057. The professionally managed tier commands an ADR of $280 versus the all-listings average of $227, a $53 premium (23%). Luxury-tier ADR reaches $449, reflecting the premium segment of larger lake- and mountain-view properties.
No Zillow housing value data was available for Eureka at the time of this publication, so a gross yield calculation cannot be confirmed. Investors should obtain local valuations independently. The seasonality score of 44.65 is the weakest sub-score and signals the primary risk: the July peak averages $6,457 in revenue while the November trough averages $1,672, a nearly 4:1 revenue ratio between peak and trough months. The total market score of 49.54 and investability of 68.02 reflect this volatility alongside the strong ADR and revenue growth trajectory.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Eureka-area STRs recorded an average booking lead time of 50 days in April 2026, roughly seven weeks in advance. This lead time is consistent with a destination market where guests plan trips to Lake Koocanusa or northwest Montana recreation areas well ahead. Summer availability on the lake, particularly July, is likely booked significantly further out as the market competes with Glacier National Park and Whitefish for regional summer demand.
Average length of stay was 3.85 nights, close to a four-night stay. This length reflects a blend of destination weekend escapes (3 nights) and mid-week fishing or hiking trips (4-5 nights). At under 4 nights average, turnover occurs regularly but not as frequently as urban markets averaging 2 nights. Operators in the summer peak period may benefit from imposing 4-5 night minimums around the Fourth of July and August weekends to reduce transition gaps and maximize revenue during the highest-demand weeks.
Short-Term Rental Regulations
Montana regulates STRs at the state level rather than through local ordinances. Every STR operator in Montana must obtain an annual statewide Public Accommodation License and register with the Montana Department of Revenue. Operators must collect and remit the combined 8% state lodging tax on stays of 29 nights or fewer (4% Lodging Facility Use Tax plus 4% Lodging Sales Tax). Airbnb and VRBO typically collect and remit the state lodging tax on behalf of hosts.
No Town of Eureka or Lincoln County-specific STR ordinance was found in public sources. Eureka is not a designated Montana resort-tax community, so there is no additional local resort or lodging tax and no local STR permit, night cap, or owner-occupancy requirement that could be verified. Permit cost was not published in state-level data sources. Enforcement is rated minimal.
Operators should verify current rules directly with the Town of Eureka (406-297-2123) and Lincoln County Planning (406-283-2309) before purchasing or listing, as local rules may exist that were not publicly documented. Montana’s property-tax treatment of vacation rentals has shifted in recent years (2023-2025 legislative changes), which can affect carrying costs for non-primary-residence STR owners.
Market Comparison
Eureka’s April 2026 occupancy of 34.6% is well below the U.S. STR median of approximately 55%, reflecting April’s position as a deep shoulder month in a highly seasonal mountain/lake market. The ADR of $227 is above the national median of approximately $220, which is notable for a small rural Montana town and reflects the premium pricing power of wilderness recreation destinations. RevPAR of $78.75 is pulled down by the low shoulder-season occupancy.
The seasonality score of 44.65 quantifies the market’s volatility. The revenue growth score of 80.72 is a positive signal, backed by a consistent ADR appreciation trend from $204 in 2017 to $322 in 2025. The total market score of 49.54 and investability of 68.02 position this as a moderate-risk, high-ADR market suited to investors with cash flow tolerance for seasonal swings.
Property management is meaningfully consolidated for a rural market. Stay Montana leads with 165 listings and a 4.73 rating. Evolve holds 131 listings with a 4.82 rating and the largest review base (6,513). Vacasa manages 122 listings at a 4.57 rating. Whitefish Mountain Resort Lodging operates 118 listings at 4.65. Natural Retreats holds 108 listings with a 4.82 rating. Together the top five operators account for 644 listings, approximately 11% of the roughly 5,644 tracked listings, indicating more professional management concentration than many comparably-sized rural markets.
Frequently Asked Questions About Eureka, Montana
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