Hungry Horse, Montana Short-Term Rental Market
Hungry Horse MT STRs averaged $228/night at 34.6% occupancy in April 2026, with July peak occupancy reaching 77% as a gateway to Glacier National Park.
Quick Answer: Hungry Horse, Montana is an active short-term rental market. average occupancy is 35%. average monthly revenue is $2,059. average daily rate is $228. the top operator is Stay Montana with 167 listings. market score is 49/100 (grade D).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Hungry Horse is a small community in Flathead County, Montana, sitting 10 to 15 miles from the west entrance of Glacier National Park, which drew approximately 3.2 million visitors in 2024. The short-term rental market here is tightly linked to Glacier visitation and the recreation economy centered on Hungry Horse Reservoir (a 34-mile, 23,800-acre lake) and the surrounding Flathead Valley. As of April 2026, which is a shoulder month for this market, the average daily rate was $228 and occupancy was 34.6%, producing a RevPAR of $79. These April figures are well below summer-peak levels.
The listing pool totals approximately 5,624 properties. Entire-place listings dominate at 5,436 units (96.7% of supply), with private rooms at 187 and shared rooms at 1. The bedroom mix is led by 1-bedroom at 2,096, followed by 2-bedroom at 1,454, 3-bedroom at 1,115, 4-bedroom at 598, and 5-bedroom-plus at 352. Dual-listed properties are the dominant channel at 3,064 (both Airbnb and VRBO), followed by Airbnb-only at 1,873 and VRBO-only at 687.
Year-over-year versus April 2025, occupancy grew 5.22 percentage points and ADR rose 6.99%, while per-listing revenue declined 4.44%, likely reflecting a composition shift as new listings entered the market. The composite investment score is 49.44 out of 100, though the revenue growth sub-score is notably high at 80.66.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 39% | $286 | $2,947 |
| Feb | 52% | $304 | $3,497 |
| Mar | 44% | $262 | $2,966 |
| Apr | 34% | $195 | $1,794 |
| May | 51% | $217 | $2,079 |
| Jun | 68% | $297 | $4,145 |
| Jul | 77% | $333 | $6,458 |
| Aug | 68% | $318 | $5,890 |
| Sep | 54% | $266 | $3,972 |
| Oct | 33% | $200 | $2,067 |
| Nov | 33% | $178 | $1,674 |
| Dec | 51% | $286 | $2,660 |
Top Short-Term Rental Operators in Hungry Horse
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Stay Montana | 167 | 2,350 | ★ 4.73 |
| 2 | Evolve | 130 | 6,503 | ★ 4.82 |
| 3 | Vacasa | 120 | 5,091 | ★ 4.58 |
| 4 | Whitefish Mountain Resort Lodging | 118 | 1,042 | ★ 4.64 |
| 5 | Natural Retreats | 107 | 3,956 | ★ 4.82 |
What Kind of STR Should I Buy in Hungry Horse?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,096 |
| 2 bed | 1,454 |
| 3 bed | 1,115 |
| 4 bed | 598 |
| 5 bed | 352 |
ADR by Property Tier
| Entire Home | $232 |
| Luxury | $446 |
| Professionally Managed | $281 |
Revenue by Dwelling Type
| Apartment | $1,573 |
| Entire Place | $2,090 |
| House | $2,330 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 33.3% |
| vrbo | 12.2% |
| both | 54.5% |
Investment Analysis
Hungry Horse’s investability score of 68.06 and revenue growth score of 80.66 reflect a market with strong top-line growth momentum, primarily driven by the sustained rise in Glacier National Park visitation and ADR appreciation (from $204 in 2017 to $228 in April 2026). The 2025 full-year average revenue of $4,324/month was meaningfully above 2023’s $3,726 and 2022’s $3,876, indicating durable post-pandemic demand.
Housing valuation data for Hungry Horse was not available in this dataset, so gross yield and entry-cost estimates cannot be computed. Interested investors should reference county assessor records and local brokerage data for Flathead County property values, which are well above Montana averages due to proximity to Glacier and the Whitefish resort corridor.
At April 2026 average revenue of $2,059 per month, the annualized figure is approximately $24,705. However, Hungry Horse’s strong seasonal concentration means summer months drive the majority of annual income. July alone averaged $6,458 and August $5,890, so the true annual run-rate for a well-performing listing is substantially above the 12-month-average-times-12 estimate.
Tier differentiation is substantial. Professionally managed properties averaged $281/night in ADR versus $228 market-wide, a 23% premium. Luxury-tier listings reached $446/night. House-type listings averaged $2,330/month versus $1,573 for apartment-type units.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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April 2026 data shows an average booking lead time of 51 days and an average length of stay of 3.9 nights. A 51-day lead window reflects guests planning their Glacier National Park trips well in advance, particularly for summer peak weeks when inventory books out early and some popular listings require even longer advance planning.
A 3.9-night average stay is consistent with the national park gateway pattern: most visitors take 3 to 4 nights in the area, allowing multiple days inside Glacier and along the reservoir. For operators, the combination of a 51-day lead window and summer demand concentration means that aggressive early-season pricing in May and June can capture full value before mid-summer. Operators should set longer minimum stays (5-7 nights) for peak July and August weeks, and shorter minimums (2-3 nights) for shoulder months to attract travelers who may not need a full week.
Short-Term Rental Regulations
Hungry Horse has no municipal government; short-term rentals are regulated by Flathead County, Montana. Operators generally need a state Public Accommodation License, administered through the Flathead City-County Health Department.
County land-use approval depends on location. The Canyon Area Land Use Regulations (CALURS) apply in the Hungry Horse canyon corridor: STRs are an exempt use in the Upper Canyon (no permit required), but require a minor land use review in the Middle Canyon. Outside the CALURS corridor, Flathead County Zoning Regulations apply: a conditional use permit is required in residential and agricultural zones (AG, SAG, R, RA, RC, and others), while commercial and rural commercial zones (RR, B-2, B-4, and others) allow STRs as a permitted use if the owner files a compliance letter, a copy of the Public Accommodations License, and certified-mail receipts proving notification of neighbors within 150 feet. Unzoned parcels require no county permit.
Flathead County caps STRs at a maximum of two per parcel or area in many residential and agricultural zoning districts. There is no county-wide owner-occupancy or primary-residence requirement. Lodging taxes total 8% on stays under 30 days (4% Lodging Facility Use Tax plus 4% Lodging Sales Tax, both statewide); there is no additional local resort tax in Hungry Horse. Enforcement severity is rated moderate. The county tightened rules in 2023, adding density caps, and a 2025 Montana law raised property-tax rates on short-term rentals statewide. Investors should confirm a specific parcel’s zoning and CALURS designation with Flathead County Planning before purchasing.
Market Comparison
Hungry Horse’s April 2026 occupancy of 34.6% is well below the US STR market median of approximately 55%, but April is deeply off-peak for a Glacier gateway market. The summer peak occupancy of 77.0% in July far exceeds the national median and places this market among the most in-demand seasonal destinations in the country.
ADR of $228 in April is near the national median of approximately $220, but summer ADRs ($297 to $333 from June through August) are meaningfully above the national baseline. The revenue growth score of 80.66 reflects the strongest growth trajectory of the five markets in this batch.
Stay Montana leads with 167 listings and 2,350 reviews (rating 4.73). Evolve ranks second at 130 listings and 6,503 reviews (rating 4.82). Vacasa holds third at 120 listings and 5,091 reviews (rating 4.58). Whitefish Mountain Resort Lodging ranks fourth at 118 listings and 1,042 reviews (rating 4.64). Natural Retreats rounds out the top five at 107 listings and 3,956 reviews (rating 4.82). The top-5 operators account for 642 listings, approximately 11.4% of the roughly 5,624-listing market, making this a more concentrated professional management landscape than the other four markets in this batch.
Frequently Asked Questions About Hungry Horse, Montana
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