Helena, Montana Short-Term Rental Market
Helena, MT STRs averaged $158/night at 42.8% occupancy in April 2026 with summer peaks above 66% occupancy.
Quick Answer: Helena, Montana is an active short-term rental market. average occupancy in the Montana Area market area is 57%. average monthly revenue in the Montana Area market area is $3,539. average daily rate in the Montana Area market area is $218. the top operator in the Montana Area market area is Evolve with 166 listings. market score is 53/100 (grade D).
Market data reflects the Montana Area regional market, which includes Helena. Regulations, taxes, and permit details below are specific to Helena.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Helena is Montana’s state capital with approximately 33,639 residents in Lewis and Clark County. The STR market is driven by government and business travel, summer outdoor recreation access (Gates of the Mountains, Canyon Ferry Lake, and proximity to multiple wilderness areas), and regional tourism. Approximately 4,384 listings are tracked by bedroom count, with 4,116 classified as entire-place rentals.
In April 2026, the all-listing average daily rate was $158.38 and occupancy came in at 42.8%, producing a RevPAR of $67.85 and average monthly revenue of $1,788. Year-over-year results are modestly positive: occupancy was essentially flat (+0.03 percentage points), ADR rose 2.9%, and revenue grew 1.9% compared to April 2025. The 2025 full-year average was 50.0% occupancy, $183 ADR, and $2,514 monthly revenue.
By bedroom count, 1-bedroom properties lead at 1,520 listings, followed by 2-bedroom (1,253), 3-bedroom (956), 4-bedroom (420), and 5-bedroom (235), reflecting a mix of solo and couple travelers alongside occasional group stays. Channel distribution: 2,120 listings on Airbnb only, 1,822 on both platforms, and 456 VRBO-only. Notably, Helena has a higher Airbnb-only concentration than most markets in this analysis, suggesting less VRBO penetration. The market’s total score of 52.71 out of 100 reflects moderate conditions overall, with investability at 71.24.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 38% |
| Feb | 46% |
| Mar | 46% |
| Apr | 43% |
| May | 52% |
| Jun | 64% |
| Jul | 66% |
| Aug | 59% |
| Sep | 52% |
| Oct | 45% |
| Nov | 47% |
| Dec | 43% |
Month-by-month nightly rates and revenue figures for Helena are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Top Short-Term Rental Operators in Montana Area market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Montana Area market as a whole, which includes Helena, so these counts are not Helena-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 166 | 7,587 | ★ 4.84 |
| 2 | AAA Red Lodge Rentals | 46 | 3,535 | ★ 4.92 |
| 3 | Red Lodge Reservations | 32 | 1,813 | ★ 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 Helena?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Helena 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 | 48.2% |
| vrbo | 10.4% |
| both | 41.4% |
Home Value Trends (Helena)
Typical home values, median sale prices, and the 10-year price trend for Helena 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 Helena — 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
Helena does not impose a city-specific STR permit or licensing scheme. The primary regulatory requirements are statewide:
1. Montana Public Accommodation License from the Montana Department of Public Health and Human Services ($40 application fee, annual renewal).
2. Montana combined lodging tax of 8% on stays under 30 days: 4% Lodging Facility Use Tax plus 4% Lodging Sales Tax.
Helena has not designated itself a resort community and does not levy an additional local resort or lodging tax. Hosts in surrounding Lewis and Clark County face different rules from Helena city limits rules.
Zoning is the primary local control under Helena City Code Title 11. STRs are allowed in commercial and mixed-use zones (B2, B2M, B3, UMU) without operational limits. In R1 and RS residential zones, only Type 1 STRs (owner-occupied, owner on premises during the stay) are permitted. In R2 and HMU zones, owners may rent their primary residence while absent for up to six months per year.
No city-wide caps on rental nights per year, no city occupancy cap, and no city-specific inspection requirement apply. Enforcement is light and complaint-driven. Hosts should confirm any city business license requirement with Helena’s Community Development office before operating, and monitor for future ordinance changes as STR regulation in Montana is evolving at the state level.
Market Comparison
Helena’s April 2026 ADR of $158.38 is below the US STR median of approximately $220 per night, reflecting its position as a state capital market rather than a premium vacation destination. At 42.8% occupancy in April, the market is below the US STR median of roughly 55%, though July and June push well above 60%. The below-median ADR and moderate occupancy reflect the mixed business and leisure visitor base.
Five property management companies lead the market. Evolve leads with 166 listings (4.84 rating, 7,587 reviews). The remaining four operators are Montana regional specialists: AAA Red Lodge Rentals with 46 listings (4.92 rating, 3,535 reviews), Red Lodge Reservations with 32 listings (4.89 rating, 1,813 reviews), Alpine Basin Homes with 30 listings (4.95 rating, 881 reviews), and Anaconda Pintler Property Services with 30 listings (4.95 rating, 713 reviews). These five operators together account for approximately 304 listings, roughly 6.9% of the estimated 4,384-listing market.
The low PM market concentration and the presence of highly specialized regional operators with exceptional ratings (three of the top five exceed 4.89 average) reflect a market where local expertise and personal service matter. Independent operators face less competition from large national management firms here than in many other markets.
Frequently Asked Questions About Helena, Montana
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