West Yellowstone, Montana Short-Term Rental Market
Southwest Montana short-term rentals averaged $344 ADR, 63.6% occupancy and $5,797 monthly revenue in September 2026.
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 $5,797. average daily rate in the Bozeman/Yellowstone Natl Park market area is $344. 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, and its short-term rental performance is tracked as part of the southwest Montana STR market, a shared regional series that also covers Ennis, Bozeman and Livingston. Every performance figure on this page describes that regional market rather than West Yellowstone alone. As of September 2026, the southwest Montana STR market posted an average daily rate of $344, occupancy of 63.6% and average monthly revenue of $5,797 per listing. Compared with September 2025, occupancy rose 2.3%, ADR rose 13.2% and revenue rose 6.8%, so most of the revenue gain came from rate rather than from additional booked nights. The town itself has a population of 1,474 and receives an estimated 3.5 million visitors a year. Roughly 70% of annual visitation falls between June and September, and tourism supports up to 50% of local employment. Yellowstone logged 4.76 million recreation visits in 2025, which gives the area a deep and reliable demand base. Winter adds a second season through snowmobiling and cross-country skiing, which is unusual for a park gateway. Longer term, the regional series shows steady growth in average monthly revenue, from $2,591 in 2017 to $5,218 in 2021 and $5,889 in 2025. Rate growth has carried that trend, with ADR moving from $223 in 2017 to $396 in 2025. Bedroom, channel and listing-type counts, along with operator rankings, are tracked at a shared regional level rather than uniquely for West Yellowstone, so this profile omits them. Investors should read the figures as a measure of the wider southwest Montana region and confirm town-level comparables before underwriting a specific property.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 48% |
| Feb | 63% |
| Mar | 60% |
| Apr | 35% |
| May | 57% |
| Jun | 73% |
| Jul | 73% |
| Aug | 65% |
| Sep | 60% |
| 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 permits short-term rentals, and enforcement severity is rated moderate. The permit stack is more involved than in most Montana towns. Operators need a Town of West Yellowstone business license, a $500 resort tax bond posted at application, a Montana Department of Public Health and Human Services Public Accommodations License, and fire and health inspections. The permit renews annually. A permit fee amount is not published. Zoning is the main constraint. Short-term rentals are not permitted in all residential zoning districts, and non-owner-occupied or tourist homes are specifically prohibited in the Madison Addition area. Buyers should verify zoning with the Town of West Yellowstone before purchase. The town does not require owner-occupancy or primary-residence status, and it sets no annual cap on rental nights, which makes it more open to non-resident investors than Big Sky or Bozeman. Taxes are heavy. Montana charges 8% in state lodging taxes (a 4% Lodging Facility Use Tax plus a 4% Lodging Sales Tax), and the local resort tax is 4%, for a combined burden of roughly 12% plus a Tourism Business Improvement District fee of about $0.75 per night. The resort tax rose from 3% to 4% in 2019 after a voter-approved increase for infrastructure. Operators must also follow rules on noise, parking and trash removal, and violations can bring fines or business license revocation. A 2024 Montana Supreme Court ruling confirmed that HOA covenants can bar short-term rentals, so buyers should read covenants closely.
Market Comparison
September 2026 occupancy in the southwest Montana STR market was 63.6% and ADR was $344, and even the lowest-rate month in the seasonal profile, November, reached $212. The rate premium reflects the pull of Yellowstone. Year-over-year, ADR growth of 13.2% and revenue growth of 6.8% are healthy, although occupancy growth of 2.3% is modest. The market is highly seasonal, with a 37.5 point gap between July and April occupancy, so annual returns depend on capturing both summer and winter demand. Compared with other Montana destinations, West Yellowstone offers a comparatively open regulatory path for non-resident owners, though the permit stack and a roughly 12% guest tax burden add cost. Operator rankings and listing mix are tracked at a shared regional level rather than uniquely for West Yellowstone, so this profile omits them.
Frequently Asked Questions About West Yellowstone, Montana
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