West Yellowstone, Montana Short-Term Rental Market
West Yellowstone STRs averaged $334/night at 33.8% occupancy in April 2026, with dual summer/winter peaks serving 3.5M annual visitors.
Quick Answer: West Yellowstone, Montana is an active short-term rental market. average occupancy in the Bozeman/Yellowstone Natl Park market area is 64%. average monthly revenue in the Bozeman/Yellowstone Natl Park market area is $6,823. average daily rate in the Bozeman/Yellowstone Natl Park market area is $389. the top operator in the Bozeman/Yellowstone Natl Park market area is Stay Montana with 201 listings. market score is 70/100 (grade C).
Market data reflects the Bozeman/Yellowstone Natl Park regional market, which includes West Yellowstone. Regulations, taxes, and permit details below are specific to West Yellowstone.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
West Yellowstone is the primary western gateway to Yellowstone National Park, which logged 4.76 million recreation visits in 2025. The town receives an estimated 3.5 million visitors annually, making it one of the highest visitor-to-resident ratios of any STR market. As of April 2026, the market posted an average daily rate of $334 and occupancy of 33.8% (reflecting the April mud-season trough), generating a RevPAR of $113.
The market holds approximately 5,467 listings, with entire-place rentals at 5,247 (96.0%), private rooms at 212, and 8 shared rooms. Bedroom distribution is balanced toward smaller properties: 1-bedroom units lead with 1,585 listings, followed by 2-bedroom (1,391), 3-bedroom (1,275), 4-bedroom (756), and 5-bedroom-plus (446). Channel distribution shows 3,203 listings on both Airbnb and Vrbo, 1,637 exclusively on Airbnb, and 627 exclusively on Vrbo.
Year-over-year, April 2026 showed occupancy down 5.6% while ADR rose 12.1%, with revenue declining 1.5%. The revenue growth score of 94.0 out of 100 reflects the market’s long-term upward trajectory, with 2025 producing average annual revenue of $5,896, the highest in the historical series. Market scores show rental demand at 76.0 and a total score of 69.8.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 48% |
| Feb | 63% |
| Mar | 60% |
| Apr | 35% |
| May | 57% |
| Jun | 73% |
| Jul | 73% |
| Aug | 65% |
| Sep | 59% |
| Oct | 45% |
| Nov | 39% |
| Dec | 52% |
Month-by-month nightly rates and revenue figures for West Yellowstone are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Top Short-Term Rental Operators in Bozeman/Yellowstone Natl Park market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Bozeman/Yellowstone Natl Park market as a whole, which includes West Yellowstone, so these counts are not West Yellowstone-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Stay Montana | 201 | 7,915 | ★ 4.74 |
| 2 | Evolve | 131 | 9,076 | ★ 4.82 |
| 3 | Big Sky Vacation Rentals | 130 | 3,266 | ★ 4.87 |
| 4 | Two Pines Properties | 123 | 2,649 | ★ 4.87 |
| 5 | Mountain Home | 115 | 5,070 | ★ 4.84 |
What Kind of STR Should I Buy in West Yellowstone?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for West Yellowstone 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 | 29.9% |
| vrbo | 11.5% |
| both | 58.6% |
Home Value Trends (West Yellowstone)
Typical home values, median sale prices, and the 10-year price trend for West Yellowstone 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 West Yellowstone — 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
West Yellowstone requires multiple permits before operating a short-term rental. Operators must obtain: a Town of West Yellowstone business license, a $500 resort tax bond (refundable surety or cash) filed at the business license application, a Montana Department of Public Health and Human Services Public Accommodations License, and pass one-time fire and health inspections. All permits must be renewed annually.
Non-owner-occupied tourist homes are specifically prohibited in the Madison Addition neighborhood. All other residential zones must be verified with the town planning department before purchasing or listing. There is no owner-occupancy or primary-residence requirement outside the Madison Addition. No annual night cap applies.
The tax stack is significant. Montana state lodging taxes total 8%: 4% Lodging Facility Use Tax plus 4% Lodging Sales Tax. West Yellowstone adds a 4% local resort tax on lodging and a Tourism Business Improvement District fee of approximately $0.75 per night. The combined effective tax burden on guests typically reaches approximately 12% plus the per-night TBID fee.
Enforcement severity is rated moderate. Violations can result in fines or business license revocation. A 2024 Montana Supreme Court ruling confirmed that HOA covenants can bar STRs, so buyers should verify any HOA restrictions at the parcel level.
Market Comparison
West Yellowstone’s $334 ADR substantially exceeds the U.S. STR median of approximately $220, reflecting premium Yellowstone gateway pricing. The 33.8% April occupancy reflects the mud-season trough and is not representative of the annual pattern (2025 full-year average was 56.5%).
Year-over-year, ADR rose 12.1% in April 2026, one of the strongest rate increases in this batch, though occupancy contracted 5.6%. The revenue growth score of 94.0 reflects the market’s long-run strength. Annual average revenue grew from $2,591 in 2017 to $5,896 in 2025, a compound annual growth rate of approximately 10.8%.
Among property managers, Stay Montana leads with 201 listings and 7,915 reviews (4.74 rating). Evolve follows with 131 listings and 9,076 reviews (4.82 rating). Big Sky Vacation Rentals holds 130 listings with a 4.87 rating. Two Pines Properties (123 listings, 4.87 rating) and Mountain Home (115 listings, 4.84 rating) round out the top five. The combined top-5 count of 700 listings represents approximately 12.8% of the roughly 5,467 total market listings.
Frequently Asked Questions About West Yellowstone, Montana
What permits are required to run an Airbnb in West Yellowstone, MT?
What is the average Airbnb income in West Yellowstone, MT?
Does West Yellowstone have a dual season for STR rentals?
What taxes apply to West Yellowstone short-term rentals?
What home prices should I expect in West Yellowstone?
How many visitors does West Yellowstone receive annually?
Which property management companies operate in West Yellowstone?
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