Hamilton, Montana Short-Term Rental Market
Hamilton, MT STRs averaged $158/night at 42.9% occupancy in April 2026, with July peaking at 66.1% for outdoor-recreation travelers.
Quick Answer: Hamilton, Montana is an active short-term rental market. average occupancy is 43%. average monthly revenue is $1,790. average daily rate is $158. the top operator is Evolve with 167 listings. market score is 53/100 (grade D).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Hamilton, MT is the commercial hub of the Bitterroot Valley, a 96-mile corridor along US-93 south of Missoula, drawing visitors for fly-fishing, hiking, and access to the Bitterroot National Forest. In April 2026, the short-term rental market recorded an average daily rate of $158 and a 42.9% occupancy rate, producing RevPAR of $68. This April occupancy represents a 16.0% year-over-year increase, though it reflects an off-peak shoulder month. The active listing pool totals approximately 4,395 units by bedroom count: 1-bedroom (1,525), 2-bedroom (1,256), 3-bedroom (955), 4-bedroom (422), and 5-bedroom (237). Entire-place listings dominate at 4,124 units, with private rooms accounting for 284. By channel, 2,126 listings are on Airbnb only, 459 on VRBO only, and 1,823 on both platforms. ADR grew 2.8% year-over-year and revenue grew 2.0%. The market earned a total score of 52.9 out of 100, with investability at 71.2 and regulation favorability at 70.4, reflecting relatively permissive local rules. Seasonality scores 65.9, indicating meaningful seasonal swings that require active pricing management.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 38% | $151 | $1,649 |
| Feb | 46% | $157 | $1,747 |
| Mar | 46% | $156 | $1,921 |
| Apr | 43% | $138 | $1,571 |
| May | 52% | $151 | $1,805 |
| Jun | 64% | $192 | $2,890 |
| Jul | 66% | $201 | $3,575 |
| Aug | 59% | $190 | $3,104 |
| Sep | 52% | $172 | $2,423 |
| Oct | 45% | $148 | $1,904 |
| Nov | 47% | $144 | $1,757 |
| Dec | 43% | $163 | $1,836 |
Top Short-Term Rental Operators in Hamilton
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 167 | 7,613 | ★ 4.84 |
| 2 | AAA Red Lodge Rentals | 45 | 3,512 | ★ 4.92 |
| 3 | Red Lodge Reservations | 32 | 1,818 | ★ 4.89 |
| 4 | Alpine Basin Homes | 30 | 881 | ★ 4.95 |
| 5 | Anaconda Pintler Property Services | 30 | 713 | ★ 4.95 |
What Kind of STR Should I Buy in Hamilton?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 1,525 |
| 2 bed | 1,256 |
| 3 bed | 955 |
| 4 bed | 422 |
| 5 bed | 237 |
ADR by Property Tier
| Entire Home | $163 |
| Luxury | $340 |
| Professionally Managed | $183 |
Revenue by Dwelling Type
| Apartment | $1,558 |
| Entire Place | $1,829 |
| House | $1,883 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 48.2% |
| vrbo | 10.4% |
| both | 41.4% |
Investment Analysis
Hamilton offers a lower-cost outdoor recreation market with a clear seasonal demand profile. No Zillow housing data was available in the current snapshot for Hamilton, so a home-price-based yield calculation is not possible from available data. At average monthly revenue of $1,790 in April 2026 (a shoulder month), annualized gross revenue based on that month would be approximately $21,480, but investors should use the seasonal peak-weighted calculation instead: July revenue averages $3,575 and June $2,890, which substantially lift the annual average. Looking at 2025 annual average revenue of $2,514 per month, annualized gross revenue is approximately $30,168. Tier performance shows differentiation: entire-home ADR averages $163 versus the all-listing $158 average, professionally managed listings average $183 per night, and luxury-tier listings command $340 per night. On a property-type basis, houses generate $1,883 per month and entire-place listings $1,829, while apartments average $1,558. Revenue has grown from $2,563 in 2022 to $2,514 in 2025, indicating a modestly contracting trend since the 2022 peak after a strong pandemic-era surge from $1,607 in 2017. Investors should model for seasonal revenue concentration in June through September and conservative off-season occupancy in the 37 to 46% range.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Guests booking Hamilton STRs in April 2026 did so an average of 38 days in advance, with average stays of 4.4 nights. A 38-day lead time gives operators a solid planning window for dynamic pricing adjustments in the five to six week range before arrival. The 4.4-night average stay reflects a multi-night recreation-oriented visitor pattern: anglers, hikers, and Bitterroot Valley explorers typically plan extended trips rather than quick overnight stays. This reduces per-booking cleaning frequency and associated costs relative to a market dominated by 1-2 night stays. For the peak summer months, operators should consider setting minimum stays of 3 to 5 nights to reduce turnover during high-demand periods when occupancy exceeds 60%.
Short-Term Rental Regulations
Hamilton explicitly permits short-term rentals citywide under Municipal Code section 17.16.020 (Ordinance 441). STRs are a by-right permitted use in all residential districts (RS, RM, RH) and in business districts (B, B-1, B-2, CBD, PS). No conditional-use hearing is required. Registration is mandatory, must be renewed annually, and costs $150 per unit per year. Each unit requires a separate registration. Registration requirements include naming the owner and a local representative responsible for maintenance and safety, notifying all adjacent property owners and residents before applying, and obtaining a Ravalli County Environmental Health public sleeping accommodation plan review and license. The STR registration number must appear in all online and print listings. There is no owner-occupancy or primary-residence requirement and no cap on nights rented per year. Density limits apply: one STR per parcel in RS and RM districts, a maximum of two units per building in RH, B, and B-1 districts, and no individual or business may register more than two STRs across RS, RM, and RH districts combined. Montana levies an 8% statewide lodging tax (4% Lodging Facility Use Tax plus 4% Lodging Sales/Use Tax); Hamilton imposes no additional local resort or occupancy tax. Enforcement is rated moderate. A 2025 Montana state law increased property-tax classification rates for STRs, raising carrying costs statewide even where local rules remain unchanged.
Market Comparison
Hamilton’s 42.9% April 2026 occupancy is below the approximate US STR median of 55%, consistent with its off-peak shoulder-month timing. The July peak of 66.1% exceeds the national median, confirming that summer demand is competitive. Hamilton’s $158 ADR falls well below the US median of roughly $220, reflecting its small-town rural positioning versus higher-cost resort and urban markets. The market’s overall score of 52.9 places it in the lower-middle tier nationally, though its regulation score of 70.4 reflects favorable local rules. The top operator is Evolve with 167 listings and a 4.84 average guest rating across 7,613 reviews. AAA Red Lodge Rentals operates 45 listings with a 4.92 rating across 3,512 reviews. Red Lodge Reservations manages 32 listings with a 4.89 rating and 1,818 reviews. Alpine Basin Homes and Anaconda Pintler Property Services each hold 30 listings with ratings of 4.95 and 4.95 respectively. The strong ratings from local operators (all above 4.89) suggest quality professional management is a competitive differentiator in this market.
Frequently Asked Questions About Hamilton, Montana
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