Elwood, Nebraska Short-Term Rental Market
Elwood, NE STRs averaged $137/night at 49.2% occupancy in April 2026, with summer months reaching 58% occupancy near Johnson Lake.
Quick Answer: Elwood, Nebraska is an active short-term rental market. average occupancy is 61%. average monthly revenue is $2,824. average daily rate is $177. the top operator is Evolve with 28 listings. market score is 88/100 (grade A).
Market data reflects the Nebraska Area regional market, which includes Elwood. Regulations, taxes, and permit details below are specific to Elwood.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Elwood is the seat of Gosper County in south-central Nebraska, a small community of approximately 658 residents whose STR market is almost entirely driven by Johnson Lake State Recreation Area, one of the region’s most popular freshwater destinations. Visitors come for walleye fishing, boating, sailing, swimming at two public beaches, and camping. The town markets itself jointly with the lake corridor as ‘Destination Elwood and Johnson Lake.’
In April 2026, the market posted an average daily rate of $137 and occupancy of 49.2%, producing a RevPAR of $67.33. Year-over-year, April occupancy declined 3.7% while ADR rose 7.2%, resulting in a modest net revenue gain of 0.7% from April 2025. The occupancy softness in April reflects the market’s summer concentration: lake recreation demand does not materially build until late May.
The listing supply is overwhelmingly entire-place rentals (1,594 of 1,771 total, or 90%), consistent with the cabin-and-cottage nature of lake-market STRs. Private rooms account for 177 listings. Airbnb dominates channel distribution (1,170 listings Airbnb-only, 459 dual-listed, 142 VRBO-only). The bedroom mix is relatively even across sizes: 2-bedrooms lead (560), followed by 1-bedrooms (534), 3-bedrooms (364), 4-bedrooms (189), and 5-bedrooms (121).
Market scores are strong: total score 87.5, investability 87.2, revenue growth 81.9, and seasonality 72.6, which signals moderate but manageable peaks-and-troughs relative to more extreme seasonal markets.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 40% | $106 | $1,296 |
| Feb | 45% | $104 | $1,198 |
| Mar | 52% | $113 | $1,485 |
| Apr | 49% | $116 | $1,482 |
| May | 52% | $125 | $1,636 |
| Jun | 58% | $152 | $2,298 |
| Jul | 58% | $152 | $2,438 |
| Aug | 52% | $150 | $2,089 |
| Sep | 47% | $134 | $1,737 |
| Oct | 45% | $117 | $1,552 |
| Nov | 51% | $118 | $1,598 |
| Dec | 47% | $112 | $1,484 |
Top Short-Term Rental Operators in Elwood
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 28 | 684 | ★ 4.55 |
| 2 | Traverse | 4 | 5 | ★ 4.50 |
| 3 | CityLine Properties | 2 | 3 | ★ 5.00 |
| 4 | Glamping Hub International | 2 | 98 | ★ 4.94 |
| 5 | Your.Rentals | 1 | 55 | ★ 4.96 |
What Kind of STR Should I Buy in Elwood?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 534 |
| 2 bed | 560 |
| 3 bed | 364 |
| 4 bed | 189 |
| 5 bed | 121 |
ADR by Property Tier
| Entire Home | $184 |
| Luxury | $307 |
| Professionally Managed | $262 |
Revenue by Dwelling Type
| Apartment | $2,446 |
| Entire Place | $2,983 |
| House | $3,045 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 66.1% |
| vrbo | 8% |
| both | 25.9% |
Investment Analysis
Elwood’s investment case is built on accessible entry prices, consistent summer lake demand, and a light regulatory environment. The typical home value in the Elwood area was $408,953 as of April 2026, with median list price at $584,667 and for-sale inventory of just 21 properties, indicating limited supply.
At April 2026’s average monthly revenue of $1,718 per listing, annualized gross revenue at that pace runs approximately $20,616. Against the $408,953 typical home value, that implies a gross yield of approximately 5.0% at April’s off-peak run rate. Using the 2025 full-year average of $1,971 per month, the 2025 annualized gross revenue was approximately $23,652, producing a gross yield near 5.8% on the current typical home value.
Summer months significantly outperform: July averages $2,437 per month, and June averages $2,233 per month. Investors who own properties capable of capturing peak summer weekends can expect revenue per listing well above annual averages in those months. Professionally managed listings averaged $203 ADR versus the all-listings average of $137 in April, a 48% premium, suggesting that management quality and channel optimization have a large impact in this market. The management landscape is lightly professionalized (Evolve leads with only 28 listings), leaving room for active operators to outperform.
ADR has risen from $101 in 2019 to $141 in 2025, a 40% increase over six years, while occupancy has held relatively stable in the 50 to 54% range since 2021. This is a positive signal that the market has absorbed post-2020 supply growth without rate dilution.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Elwood’s average booking lead time of 37.3 days in April 2026 means guests typically book about five weeks in advance. For summer peak weekends around Johnson Lake, particularly around the Fourth of July and Memorial Day, demand builds well ahead of this average and calendars may fill 60 to 90 days out. Operators who price peak weekend nights early and hold them firm through the booking window will capture the most revenue.
Average length of stay was 4.16 nights in April 2026, just over a long weekend. Lake-market guests often book Thursday-through-Sunday or Friday-through-Monday trips. Setting a 3-night minimum for summer weekends is a common and effective approach in this segment, as it concentrates higher-value bookings and reduces turnover while preserving enough flexibility to fill mid-week gaps. During January and February, reducing minimums to 1 or 2 nights may help attract anglers and hunting-season visitors who plan shorter trips.
Short-Term Rental Regulations
Short-term rentals are permitted in Elwood. No Elwood-specific STR ordinance, permit program, or registration requirement was identified in the available data. STR operations in Elwood are governed primarily by Nebraska state law.
Under Nebraska Revised Statute 18-1758, municipalities are barred from adopting ordinances that prohibit short-term rental use of residential property. Localities may apply generally applicable health, safety, building, zoning, noise, and property-maintenance rules equally to STRs but cannot single them out for prohibition. This means STR activity in Elwood is legal and lightly regulated at the local level.
On taxes, Nebraska imposes a 1% state lodging tax on stays of 30 days or fewer. Gosper County may levy a county lodging tax of up to 2%, though the exact current Gosper County rate was not confirmed in the source data and should be verified with the Nebraska Department of Revenue before operating. Platforms like Airbnb typically collect and remit applicable lodging taxes automatically.
Investors should confirm current requirements directly with the Village of Elwood (304 Calvert Ave) and Gosper County planning and zoning, particularly for properties near Johnson Lake that may fall under county jurisdiction outside village limits. Enforcement of STR-related rules is rated minimal.
Market Comparison
Elwood’s April 2026 ADR of $137 is below the US STR market median of approximately $220, reflecting the rural Nebraska lake market context rather than weak demand. Occupancy at 49.2% is close to the national STR median of roughly 55%, and the 2025 annual average of 50.5% is in line with market norms. The market’s total score of 87.5 ranks it well above most small rural markets.
The professional management market is lightly developed relative to the number of listings. Evolve, the national platform, leads with just 28 listings. The next-largest operators have 4, 2, 2, and 1 listing respectively. The top 5 operators collectively manage approximately 37 listings against a total market of about 1,771. This represents a very low PM penetration rate, which may explain the large premium between PM-managed ADR ($203) and the market average ($137): the few properties under professional management are likely the best-positioned assets, while the broader market is individually owned and operated with varying quality.
For investors, low PM penetration is a double-edged signal: it can mean above-average management upside for new entrants who professionalize, but also that existing market-wide ADR underrepresents what active management can achieve.
Frequently Asked Questions About Elwood, Nebraska
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