Madison, New Hampshire Short-Term Rental Market
Madison, NH STRs averaged $235 per night in April 2026, but new short-term rentals have been prohibited in town since March 2022.
Quick Answer: Madison, New Hampshire is an active short-term rental market. average occupancy in the White Mtns market area is 63%. average monthly revenue in the White Mtns market area is $6,045. average daily rate in the White Mtns market area is $341. the top operator in the White Mtns market area is Vacasa with 256 listings. market score is 63/100 (grade C).
Market data reflects the White Mtns regional market, which includes Madison. Regulations, taxes, and permit details below are specific to Madison.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
The Madison STR market includes approximately 5,716 listings in the latest snapshot, the large majority of which are grandfathered pre-2022 operations. Entire-place listings account for 5,539 (96.9% of the market), private-room rentals for 176 (3.1%), and shared rooms for just 1. By bedroom count, three-bedroom units are most common (1,765), followed by two-bedroom (1,265), one-bedroom (1,233), four-bedroom (936), and five-plus bedroom (507).
In April 2026, the market reported an average daily rate of $235 and occupancy of 26.0%, producing a RevPAR of $61. April is seasonally the weakest period (mud season in the White Mountains). Average monthly revenue in April 2026 was $1,989. Year-over-year, occupancy fell 2.44 percentage points, ADR rose 2.50%, and revenue declined 3.18%.
Annual occupancy has been on a declining trend: 50.77% in 2022, 47.05% in 2023, 44.44% in 2024, and 44.35% in 2025. ADR has risen over the same period ($291 in 2022 to $300 in 2025), but occupancy decline has weighed on revenue.
Airbnb and VRBO are both active channels, with 2,067 Airbnb-only listings, 2,974 on both platforms, and 675 VRBO-only listings. The relatively high VRBO share is consistent with White Mountains vacation home rentals.
Madison is a small town (population 2,711) in Carroll County, NH, on the southern edge of the White Mountains approximately 100 miles from Boston. It draws seasonal outdoor visitors for hiking (Mount Chocorua, Madison Boulder), lake recreation (Silver Lake, Crystal Lake), and skiing at King Pine Ski Area / Purity Spring Resort.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 44% |
| Feb | 57% |
| Mar | 35% |
| Apr | 30% |
| May | 39% |
| Jun | 52% |
| Jul | 64% |
| Aug | 67% |
| Sep | 41% |
| Oct | 47% |
| Nov | 32% |
| Dec | 46% |
Month-by-month nightly rates and revenue figures for Madison are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Top Short-Term Rental Operators in White Mtns market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the White Mtns market as a whole, which includes Madison, so these counts are not Madison-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Vacasa | 256 | 10,615 | ★ 4.48 |
| 2 | Evolve | 194 | 10,874 | ★ 4.74 |
| 3 | Birch Hospitality | 141 | 4,642 | ★ 4.91 |
| 4 | Bretton Woods Vacations | 135 | 4,295 | ★ 4.81 |
| 5 | Loon Reservation | 91 | 3,441 | ★ 4.55 |
What Kind of STR Should I Buy in Madison?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Madison 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 | 36.2% |
| vrbo | 11.8% |
| both | 52% |
Home Value Trends (Madison)
Typical home values, median sale prices, and the 10-year price trend for Madison 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 Madison — 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
Madison, NH effectively bans new short-term rentals. In March 2022, the town prohibited the conversion of properties into rentals for periods of fewer than 30 days. A new investor acquiring property in Madison today generally cannot legally start an STR. There is no permit or registration program to opt into: the regulation is a prohibition, not a licensing framework.
Existing operators who ran STRs before the 2022 ban may claim protected status as a nonconforming pre-existing use. A December 2024 NH Land Use Court ruling affirmed one Eidelweiss-area property’s right to continue operating under this grandfathering principle. However, the Zoning Board of Adjustment has aggressively restricted even grandfathered operators: in February 2025 the ZBA voted 5-0 to cap two Eidelweiss properties at 61 and 69 rental nights per year, using a formula of the highest historical rental count plus 15%. These caps are actively being litigated.
Regardless of local zoning, any STR operator in NH must hold a state Meals & Rentals (Rooms) license, collect the 8.5% statewide Meals & Rooms Tax on stays under 185 days, and include the M&R license number in listings. New Hampshire imposes no separate local hotel or occupancy tax, so the effective lodging tax is 8.5%.
Bottom line: Madison is one of New Hampshire’s most restrictive short-term rental towns. New STR investment is not viable, and even existing grandfathered rights are contested and limited. Prospective buyers should consult a New Hampshire land-use attorney before acquiring property with STR intentions in Madison.
Market Comparison
Madison’s 26.0% occupancy in April 2026 reflects the market’s seasonal trough (mud season) rather than annual performance. The 2025 annual average occupancy was 44.35%, below the U.S. STR median of approximately 55%, consistent with a highly seasonal outdoor recreation market. The $235 ADR in April is above the national median of approximately $220, and the February ADR of $311 is significantly higher.
Revenue declined 3.18% year-over-year in the most recent period, with occupancy pressure (down 2.44 pp) outweighing ADR growth (up 2.50%). The five-year occupancy trend from 50.77% (2022) to 44.35% (2025) shows consistent softening, partly attributable to the market’s growing supply restrictions discouraging investment while not immediately closing existing operations.
The top five property managers in the Madison market are:
1. Vacasa: 256 listings, 10,615 reviews, 4.48 rating
2. Evolve: 194 listings, 10,874 reviews, 4.74 rating
3. Birch Hospitality: 141 listings, 4,642 reviews, 4.91 rating
4. Bretton Woods Vacations: 135 listings, 4,295 reviews, 4.81 rating
5. Loon Reservation: 91 listings, 3,441 reviews, 4.55 rating
Birch Hospitality leads on rating (4.91 from 4,642 reviews), indicating strong guest satisfaction in the White Mountains managed segment. Vacasa and Evolve dominate by listing count.
Frequently Asked Questions About Madison, New Hampshire
Are new short-term rentals allowed in Madison, NH?
What happened to grandfathered STRs in Madison, NH?
What taxes apply to Madison, NH short-term rentals?
What is the average daily rate for STRs in Madison, NH?
When is peak season for Madison, NH short-term rentals?
Who manages the most STRs in Madison, NH?
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