Ruidoso, New Mexico Short-Term Rental Market
Ruidoso STRs averaged $240/night at 29.4% occupancy in April 2026 as the market continues recovering from the 2024 South Fork and Salt Fires.
Quick Answer: Ruidoso, New Mexico is an active short-term rental market. average occupancy is 29%. average monthly revenue is $2,144. average daily rate is $240. the top operator is Evolve with 199 listings. market score is 88/100 (grade A).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Ruidoso, New Mexico is a year-round mountain resort community at roughly 6,900 feet elevation, drawing an estimated 1.9 million visitors annually for skiing at Ski Apache, summer outdoor recreation, and quarter horse racing at Ruidoso Downs. As of April 2026, the market holds approximately 1,819 active listings, with 1,804 entire-place units and 15 private rooms. The average daily rate is $240, occupancy sits at 29.4%, and RevPAR is $70.
The bedroom distribution leans toward 3-bedroom (574) and 2-bedroom (507) units, consistent with group cabin travel. 1-bedroom listings total 336, 4-bedroom 258, and 5-bedroom-plus 142. Cross-platform listings dominate: 1,138 properties list on both Airbnb and VRBO, with Airbnb-exclusive listings at 593 and VRBO-exclusive at 88.
Year-over-year as of April 2026, occupancy declined 3.8%, ADR rose 3.2%, and revenue fell 1.0%. This pattern reflects ongoing recovery from the June 2024 South Fork and Salt Fires, which burned over 25,000 acres and destroyed more than 1,400 structures, disrupting the 2024 summer season. Visitor counts rebounded in 2025. The total market score is 88.0 out of 100, with a revenue growth score of 97.6 and an investability score of 79.8.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 33% | $266 | $2,652 |
| Feb | 33% | $259 | $2,327 |
| Mar | 41% | $258 | $2,973 |
| Apr | 28% | $226 | $1,963 |
| May | 38% | $241 | $2,129 |
| Jun | 46% | $250 | $2,994 |
| Jul | 49% | $256 | $3,054 |
| Aug | 46% | $239 | $2,788 |
| Sep | 37% | $239 | $2,376 |
| Oct | 35% | $231 | $2,307 |
| Nov | 39% | $253 | $2,363 |
| Dec | 48% | $291 | $3,673 |
Top Short-Term Rental Operators in Ruidoso
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 199 | 13,088 | ★ 4.71 |
| 2 | Ruidoso Vacation Rentals by Vtrips | 158 | 4,567 | ★ 4.49 |
| 3 | Hummingbird Cabins | 104 | 5,243 | ★ 4.65 |
| 4 | Cozy Cabins Real Estate, LLC | 86 | 2,346 | ★ 4.68 |
| 5 | Upper Canyon Lodging Co | 84 | 2,573 | ★ 4.50 |
What Kind of STR Should I Buy in Ruidoso?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 336 |
| 2 bed | 507 |
| 3 bed | 574 |
| 4 bed | 258 |
| 5 bed | 142 |
ADR by Property Tier
| Entire Home | $240 |
| Luxury | $363 |
| Professionally Managed | $281 |
Revenue by Dwelling Type
| Apartment | $1,632 |
| Entire Place | $2,153 |
| House | $2,240 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 32.6% |
| vrbo | 4.8% |
| both | 62.6% |
Investment Analysis
Ruidoso’s investment picture is shaped by two distinct factors: a strong underlying revenue growth score (97.6) reflecting the market’s long-term trajectory, and the near-term headwind from fire recovery and seasonal low base in April.
The average listing earned $2,144 in April 2026, and annualizing April revenue projects to approximately $25,700 per year. Against a typical home value of $336,161, the gross yield implied by April-annualized revenue is approximately 7.6%. The median list price of $390,017 reflects the current listing market, which skews toward higher-priced properties with 283 active listings.
Revenue varies significantly by season: December (ski season) averages $3,673 per month and July (summer peak) averages $3,054, while April (deepest shoulder period) falls to $1,963. The 12-month average revenue is higher than the April snapshot suggests, making annualized projections from April alone a conservative baseline.
Entire-place listings averaged $2,153 per month and house listings averaged $2,240. Luxury-tier properties command a $363 ADR versus the all-listings average of $240, a 51% premium. Professionally managed listings average $281 ADR, a 17% premium, with operators like Evolve and Hummingbird Cabins capturing rate upside through dynamic pricing. No owner-occupancy or primary-residence requirement applies.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Ruidoso bookings in April 2026 averaged a lead time of 24.8 days, the shortest in the current batch, reflecting the spontaneous nature of Southwest mountain weekend trips. Guests from Texas (Lubbock, Midland, El Paso), Albuquerque, and the greater Southwest typically book 2 to 4 weeks out for standard weekends.
For ski season and the All American Futurity (September), lead times are significantly longer, with experienced operators recommending prices be set 60 to 90 days out for those peak periods. The 25-day overall average is pulled down by abundant last-minute fills during shoulder months.
The average length of stay is 3.2 nights, consistent with a weekend mountain getaway pattern. Groups arriving for ski weekends or summer cabin retreats tend to arrive Friday and depart Monday, making the 3-night stay the standard unit. Minimum stays of 2 to 3 nights are common, particularly during ski season.
Short-Term Rental Regulations
Ruidoso regulates short-term rentals (fewer than 30 consecutive nights) under Ordinance 2025-01, adopted February 2025. Operators must obtain a Village of Ruidoso Short-Term Rental Permit, costing $300 per year inclusive of permit, inspection, and notifications, plus a New Mexico CRS Business Registration/Gross Receipts Tax ID. Annual compliance inspections are mandatory, with a $50 reinspection fee for failures.
Operators must collect and remit a 5% Village lodgers tax on rentals of 29 days or fewer, in addition to New Mexico Gross Receipts Tax. All filings go through the Village’s online portal (Deckard/MuniRevs); paper filings are no longer accepted. Required safety items include smoke alarms on every level and in sleeping areas, fire extinguishers, an unobstructed exit path, posted emergency contact information, and (as of February 6, 2026) a working NOAA Weather Radio in each unit.
Occupancy is capped at two adults per sleeping unit with one off-street parking space per sleeping unit required. STRs are not permitted in RVs, tents, garages, boats, commercial or industrial structures, or live-work units. There is no owner-occupancy or primary-residence requirement. Enforcement uses a three-strike system, with the third violation triggering permit suspension or revocation. A 24/7 STR complaint hotline (575-315-8354) is active. Enforcement severity is rated moderate.
Market Comparison
Ruidoso’s 29.4% April occupancy is well below the national STR median of approximately 55%, which is expected given April’s position as the market’s trough month between ski and summer seasons. The ADR of $240 is above the US median of approximately $220, reflecting the premium pricing that this mountain resort market commands even in its softest months.
Among the top operators, Evolve leads with 199 listings, 13,088 reviews, and a 4.71 rating, representing approximately 10.9% of the market. Ruidoso Vacation Rentals by Vtrips holds 158 listings (4.49 rating). Hummingbird Cabins manages 104 listings with a 4.65 rating and 5,243 reviews. Cozy Cabins Real Estate manages 86 listings (4.68 rating). Collectively the top five operators control 631 listings, approximately 34.7% of the market, one of the higher professional concentration rates in the current batch.
The overall market score of 88.0 is strong, driven by the near-perfect revenue growth score of 97.6 and a solid seasonality score of 82.0. The market is positioned for continued recovery from the 2024 fire disruption, supported by direct flight service to Denver added in 2025.
Frequently Asked Questions About Ruidoso, New Mexico
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