Santa Fe, New Mexico Short-Term Rental Market
Santa Fe caps residential STR permits at 1,000, and August 2026 averaged $302 ADR, 69.8% occupancy, $5,855 revenue.
Quick Answer: Santa Fe, New Mexico is an active short-term rental market. average occupancy in the Santa Fe market area is 70%. average monthly revenue in the Santa Fe market area is $5,722. average daily rate in the Santa Fe market area is $295. the top operator in the Santa Fe market area is Two Casitas Santa Fe Vacation Rentals with 131 listings. market score is 76/100 (grade B).
Market data reflects the wider Santa Fe market, which covers 2 areas. Regulations, taxes, and permit details below are specific to Santa Fe.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Santa Fe, New Mexico (population 91,957) is a high-rate, strongly seasonal short-term rental market. In August 2026, the average daily rate (ADR) across all tracked listings was $302 and occupancy was 69.8%. Average monthly revenue per listing reached $5,855. Compared with August 2025, ADR rose 1.7%, occupancy fell 3.9%, and revenue fell 1.2%, so higher rates did not fully offset softer demand. Guests stayed an average of 5.2 nights and booked 81.5 days ahead, which points to planned, leisure-driven trips rather than last-minute stays. Entire-home listings averaged $309 ADR in August 2026, close to the all-listings rate, which shows whole-home rentals set the pace. August revenue of $5,855 sits well above the 2025 monthly average of $4,527, so the summer peak lifts annual income noticeably.
On a calendar-year basis, occupancy peaked in 2021 at 74.9% and has stayed near 62% since 2024. ADR climbed from $213 in 2021 to $258 in 2025. The 2026 figures so far cover eight months and show a $261 ADR and 61.5% occupancy. Because that average leaves out September through December, it is not directly comparable with a full year.
Demand comes from visitors. The area profile estimates 1.5 to 2 million visitors a year, drawn by art, culture, Pueblo and Spanish-colonial history, and cuisine. Tourism supports roughly 30 to 35 percent of the local economy. Anchor attractions include the Santa Fe Plaza, Canyon Road galleries, the Meow Wolf House of Eternal Return, and the Georgia O’Keeffe Museum. The Santa Fe Indian Market in August falls in the strongest part of the year.
Listing-type, bedroom, and channel counts are tracked at a shared regional level rather than uniquely for Santa Fe, so this profile omits them.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 43% |
| Feb | 57% |
| Mar | 66% |
| Apr | 59% |
| May | 66% |
| Jun | 70% |
| Jul | 74% |
| Aug | 72% |
| Sep | 68% |
| Oct | 70% |
| Nov | 55% |
| Dec | 57% |
Month-by-month nightly rates and revenue figures for Santa Fe are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Top Short-Term Rental Operators in Santa Fe market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Santa Fe market as a whole, which includes Santa Fe, so these counts are not Santa Fe-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Two Casitas Santa Fe Vacation Rentals | 131 | 11,763 | ★ 4.94 |
| 2 | Casas de Santa Fe | 80 | 1,081 | ★ 4.78 |
| 3 | All Seasons Resort Lodging | 73 | 1,506 | ★ 4.56 |
| 4 | Kokopelli Property Management by Vtrips | 70 | 4,334 | ★ 4.66 |
| 5 | Vacasa | 68 | 3,361 | ★ 4.62 |
What Kind of STR Should I Buy in Santa Fe?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Santa Fe 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 | 38.2% |
| vrbo | 7.2% |
| both | 54.6% |
Home Value Trends (Santa Fe)
Typical home values, median sale prices, and the 10-year price trend for Santa Fe 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 Santa Fe — 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
Santa Fe runs a strict permit system with a hard cap. Residentially zoned properties share a citywide cap of 1,000 STR permits, issued first come, first served, with one permit per natural person. Non-residential zones have no cap. A short-term rental is any dwelling rented for fewer than 30 calendar days, and every one needs a city permit. Enforcement severity is rated high.
Permit fees total about $425, made up of a $100 one-time application fee and a $325 annual permit and business license fee. Permits expire December 31 each year, and renewals are due by April 15. An STR cannot be within 50 feet of another STR. In buildings with four or more units, no more than 25 percent may operate as STRs. Accessory dwelling unit permits require the owner to live on site. The city does not require owner occupancy or a primary residence for standard permits.
In residential zones, a unit may be rented once per seven-day period, except from November 15 to January 15. Owners must name a local operator who can be on site within one hour of any complaint. Permit numbers must appear on every listing. The lodgers tax is 7 percent, and gross receipts tax of roughly 8.1875 percent also applies. Zoning violations carry penalties of $1,000 to $5,000 each.
The current ordinance took effect January 1, 2021. Santa Fe County is a separate jurisdiction and capped non-owner-occupied STRs in early 2024. Confirm the property’s exact jurisdiction and zoning before buying.
Market Comparison
Santa Fe runs well above rough national benchmarks of about 55% occupancy and a $220 ADR. In August 2026, occupancy was 69.8%, about 15 points higher, and ADR was $302, about 37% higher. Full-year 2025 is a fairer test. Occupancy averaged 62.7% and ADR averaged $258, which is about 8 points and 17% above those benchmarks.
The premium comes with limits. The 1,000-permit cap in residential zones, the 50-foot spacing rule, and the local operator requirement raise the bar for new entrants. Occupancy has also slipped from 74.9% in 2021 to 62.7% in 2025, while ADR has risen, so the market now earns more from rate than from fill.
Top property manager rankings are tracked at a shared regional level rather than uniquely for Santa Fe, so this profile omits them. Revenue per listing adds context. The 2025 monthly average of $4,527 comes from a rate near $258 and occupancy near 62.7%, so owners lean on the stronger summer and autumn months for income.
Frequently Asked Questions About Santa Fe, New Mexico
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