Missoula, Montana Short-Term Rental Market
Missoula, MT short-term rentals averaged $248/night at 74.2% occupancy in June 2026, revenue up 19.3% year over year.
Quick Answer: Missoula, Montana is an active short-term rental market. average occupancy in the Missoula market area is 74%. average monthly revenue in the Missoula market area is $4,911. average daily rate in the Missoula market area is $248. the top operator in the Missoula market area is MountainTown VRM with 44 listings. market score is 57/100 (grade C).
Market data reflects the wider Missoula market, which covers 2 areas. Regulations, taxes, and permit details below are specific to Missoula.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Missoula, Montana is a university and outdoor-recreation hub in western Montana with a population of 79,000 and roughly 946 active short-term rental listings tracked across Airbnb and Vrbo as of the June 2026 snapshot, a comparatively small but high-demand market for its size. The city draws an estimated 3.1 million visitors annually, with about 1.1 million staying at least one night, generating roughly $360 million in total economic impact; visitors mix outdoor recreation (fly fishing, hiking, rafting), University of Montana events, and downtown arts and music. The market posted an average daily rate of $248.14 and 74.15% occupancy for the month, with a trailing average revenue per listing of about $4,910.88. Year over year, revenue is up a sharp 19.32% and occupancy is up 3.57%, even as ADR is down modestly (1.87%), pointing to strong demand growth as the main driver behind the market’s revenue gains. Average booking lead time is 96.36 days, over three months out, and average length of stay is 3.27 nights.
The market leans heavily toward smaller units: 1-bedroom listings are the largest group by far at 401 (42.43%), followed by 2-bedroom (267, 28.25%) and 3-bedroom (174, 18.41%) properties, with 4-bedroom (75, 7.94%) and 5-bedroom (28, 2.96%) units a small minority. Entire-place listings account for 865 of 946 tracked units (91.44%), with private rooms at 78 listings (8.25%) and shared rooms at 3 listings (0.32%). Platform distribution splits close to evenly: 460 listings (48.63%) are Airbnb-only, 411 (43.45%) are cross-listed on both platforms, and 75 (7.93%) are Vrbo-only.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 44% | $115 | $1,438 |
| Feb | 52% | $120 | $1,493 |
| Mar | 54% | $120 | $1,699 |
| Apr | 57% | $127 | $1,757 |
| May | 64% | $153 | $2,400 |
| Jun | 76% | $180 | $3,401 |
| Jul | 80% | $173 | $3,693 |
| Aug | 77% | $171 | $3,523 |
| Sep | 67% | $159 | $2,777 |
| Oct | 58% | $141 | $2,205 |
| Nov | 49% | $129 | $1,665 |
| Dec | 46% | $126 | $1,589 |
Top Short-Term Rental Operators in Missoula market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Missoula market as a whole, which includes Missoula, so these counts are not Missoula-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | MountainTown VRM | 44 | 3,514 | ★ 4.94 |
| 2 | Plum Property Management | 16 | 1,180 | ★ 4.86 |
| 3 | Evolve | 10 | 635 | ★ 4.84 |
| 4 | Vector Travel | 10 | 156 | ★ 4.41 |
| 5 | Stay Wild BNB | 8 | 1,761 | ★ 4.86 |
What Kind of STR Should I Buy in Missoula?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 401 |
| 2 bed | 267 |
| 3 bed | 174 |
| 4 bed | 75 |
| 5 bed | 28 |
ADR by Property Tier
| Entire Home | $259 |
| Luxury | $384 |
| Professionally Managed | $317 |
Revenue by Dwelling Type
| Apartment | $4,166 |
| Entire Place | $5,154 |
| House | $5,490 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 48.6% |
| vrbo | 7.9% |
| both | 43.4% |
Investment Analysis
Missoula’s entry cost is moderate for a market of this demand level: Zillow’s typical home value is $576,302.66, with a median sale price of $552,216.67 and median list price of $649,066.67 across 470 homes for sale. Homes sell at a 0.851 sale-to-list ratio (median days to pending was not published).
Rate tiers show a clear premium ladder: the all-listing ADR is $248.14, rising to $258.76 for entire-home units, $317.39 for professionally managed listings, and $384.46 for the luxury tier, about 55% above the market average. Revenue by property type is led by houses at $5,489.90 per month, followed by entire-place listings at $5,154.23 and apartments at $4,166.42.
Using the reported market average revenue of $4,910.88 per month ($58,930.59 annualized) against the $576,302.66 typical home value produces a computed gross yield of approximately 10.2%, before financing, management fees, taxes, insurance, and vacancy beyond the reported occupancy rate. StaySTRA rates this market 81.83 for rental demand, the highest of the six categories, and 76.12 for revenue growth, both strong and consistent with the 19.32% year over year revenue gain, against a lower 58.11 regulation score reflecting the city’s recently tightened registration regime.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Missoula guests book well in advance: the average booking lead time is 96.36 days, over three months out, one of the longer lead times in this batch of markets, consistent with planned trips tied to fishing and rafting seasons, university events, and festival travel. Average length of stay is 3.27 nights, a relatively short weekend-to-long-weekend pattern.
For pricing, the long lead time gives operators significant room to set and adjust rates well ahead of the June and July peak, and to hold firmer pricing through the known high-demand summer window without needing last-minute discounts. The shorter average stay means turnover between guests is frequent relative to the booking lead time, which raises the importance of efficient cleaning and restocking logistics, and it also means a larger share of monthly revenue depends on filling weekend nights specifically during the short but very strong summer season.
Short-Term Rental Regulations
Short-term rentals are explicitly legal in Missoula, but the city has tightened its registration regime significantly in the past two years. Any dwelling rented for fewer than 28 consecutive days to guests whose primary residence is elsewhere requires a City of Missoula Short-Term Rental Registration number, categorized as a ‘Tourist Home.’ The 2025 application fee is $636, renewed annually with registrations expiring January 31, a figure reported to represent roughly an 825% increase from prior years. There is no cap on nights, no owner-occupancy mandate, and no primary-residence requirement, so non-owner-occupied tourist homes are allowed, though operators in residential zones must complete a Neighbor Notification covering parcels one deep around the property.
Beyond city registration, hosts must obtain a Public Accommodations License from the Missoula City-County Health Department, hold a Lodging Facility Sales and Use Tax account with the Montana Department of Revenue, and complete a Safety Self-Inspection Checklist, which replaced in-person inspections in late 2024. As of December 5, 2024, Airbnb and Vrbo must verify a valid registration number is displayed before accepting bookings, a change that coincided with a surge in new registrations (roughly 160 issued between September 2024 and January 2025, versus about 25 per year in 2022 and 2023). Montana levies a combined 8.0% statewide Lodging Facility Sales and Use Tax, and Missoula adds no additional local resort or bed tax. Enforcement is rated moderate and complaint-driven; repeated violations can result in revocation of the right to operate.
Market Comparison
Missoula’s $248.14 ADR runs above the roughly $220 national median ADR, about 13% higher, and its 74.15% occupancy runs well above the commonly cited US short-term rental median of about 55%. That combination points to a market that both prices above the national average and fills at a notably higher rate, reflecting Missoula’s position as a strong outdoor-recreation and university destination relative to typical US markets.
The market is not dominated by any single large operator. MountainTown VRM leads with 44 listings, 3,514 reviews, and a 4.943 rating, the highest among the top five, followed by Plum Property Management (16 listings, 1,180 reviews, 4.862 rating). Evolve (10 listings, 4.843 rating), Vector Travel (10 listings, 4.414 rating, the lowest among the top five), and Stay Wild BNB (8 listings, 1,761 reviews, 4.859 rating) round out the top five. Together these five managers account for just 88 of the market’s roughly 946 listings, about 9.3%, indicating a largely independently managed market.
Frequently Asked Questions About Missoula, Montana
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