Luray, Virginia Short-Term Rental Market
Luray, VA STR listings averaged $244/night at 49.5% occupancy in April 2026, anchored by Luray Caverns and Shenandoah Valley tourism.
Quick Answer: Luray, Virginia is an active short-term rental market. average occupancy is 50%. average monthly revenue is $3,353. average daily rate is $244. the top operator is Evolve with 130 listings. market score is 98/100 (grade A).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Luray’s short-term rental market in Page County, Virginia operates across approximately 4,395 active listings in the Shenandoah Valley. In April 2026, listings averaged $243.67 per night with 49.5% occupancy, generating an average of $3,353 per listing per month. RevPAR stood at $120.63.
The market is dominated by entire-place listings, which account for 4,108 of 4,395 listings (93.5%). Private rooms represent 6.5% (285 listings), and shared rooms are minimal at two properties. By bedroom count, supply is relatively balanced across smaller configurations: one-bedroom properties total 1,204 (27.5% of bedroom-tracked listings), two-bedrooms 1,052 (24.0%), three-bedrooms 1,123 (25.6%), four-bedrooms 575 (13.1%), and five-plus-bedroom properties 430 (9.8%).
Airbnb is the dominant distribution channel. Of 4,395 listings, 1,900 are Airbnb-exclusive, 2,216 are listed on both Airbnb and VRBO, and 279 are VRBO-only.
Year-over-year, occupancy declined 3.24 percentage points while ADR rose 3.42% and revenue grew 2.80%, indicating pricing power is partially offsetting softer demand. The market’s overall investment score of 97.86 (investability: 89.81, seasonality: 93.20) reflects strong fundamentals relative to comparable rural destination markets.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 39% | $215 | $2,497 |
| Feb | 43% | $216 | $2,399 |
| Mar | 45% | $202 | $2,614 |
| Apr | 52% | $209 | $2,929 |
| May | 52% | $220 | $2,998 |
| Jun | 55% | $223 | $3,316 |
| Jul | 60% | $223 | $3,690 |
| Aug | 58% | $220 | $3,595 |
| Sep | 49% | $215 | $2,838 |
| Oct | 57% | $229 | $3,650 |
| Nov | 50% | $223 | $3,108 |
| Dec | 45% | $223 | $2,913 |
Top Short-Term Rental Operators in Luray
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 130 | 8,129 | ★ 4.69 |
| 2 | TripForth | 123 | 3,960 | ★ 4.62 |
| 3 | Bryce Mountain Escapes | 102 | 1,303 | ★ 4.71 |
| 4 | Be Still Getaways | 51 | 4,986 | ★ 4.92 |
| 5 | Vacay Away Vacation Rentals | 40 | 2,965 | ★ 4.53 |
What Kind of STR Should I Buy in Luray?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 1,204 |
| 2 bed | 1,052 |
| 3 bed | 1,123 |
| 4 bed | 575 |
| 5 bed | 430 |
ADR by Property Tier
| Entire Home | $251 |
| Luxury | $387 |
| Professionally Managed | $252 |
Revenue by Dwelling Type
| Apartment | $1,774 |
| Entire Place | $3,476 |
| House | $3,707 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 43.2% |
| vrbo | 6.3% |
| both | 50.4% |
Investment Analysis
At a typical home value of $314,376 and average monthly revenue of $3,353 in April 2026, an investor projecting consistent monthly performance over a full year would see annualized gross revenue of approximately $40,235, implying a gross yield of roughly 12.8% before expenses. Actual net yield depends on management fees, maintenance, SUP compliance timelines, and seasonal revenue variation.
ADR segmentation reveals meaningful revenue stratification. All-listings ADR was $244/night in April 2026. Entire-home listings averaged $251/night, the luxury tier reached $387/night, and professionally managed properties averaged $252/night. The narrow spread between the entire-home and professional-management ADR tiers suggests professional management does not command a significant rate premium here.
Revenue by property type shows houses generating the strongest monthly returns at $3,707, followed by entire-place listings at $3,476, with apartment-type units substantially lower at $1,774.
The multi-year trend shows a correction from COVID-era peaks (2021: 62.1% occupancy, $3,818/month revenue) to a stabilized range. The 2025 annual average of 48.8% occupancy and $3,490/month, alongside the 2024 average of 48.6% occupancy and $3,337/month, suggests the market has found a floor. ADR has risen consistently from $191 in 2017 to $251 in 2025, partially compensating for the occupancy decline.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Travelers in the Luray market book an average of 43.84 days (roughly six weeks) in advance. This mid-range lead time gives operators a meaningful pricing window: rates can be held firm for four to five weeks before arrival and discounted selectively only if availability remains open in the final two weeks.
Average length of stay is 3.18 nights, consistent with a weekend-plus positioning for drive-market travelers from the Washington D.C. and Northern Virginia corridor. A three-night minimum is worth testing to reduce turnover costs without meaningfully increasing vacancy risk given the current lead time.
The combination of a 44-day booking window and 3.18-night average stay means operators typically have two to three weeks of visible demand signal before a check-in date, providing enough runway for dynamic pricing adjustments and targeted last-minute promotions without requiring heavy discounting.
Short-Term Rental Regulations
Short-term rentals are legal in the Town of Luray but require a discretionary Special Use Permit granted by the Planning Commission and Town Council after a public hearing. There is no by-right operating path: each application is reviewed case-by-case with neighbor input and the concentration of existing lodging houses on the same street as key factors.
Approved SUPs typically carry standard conditions: a maximum of six guests, off-street parking for all guest vehicles, and a single identification sign no larger than four square feet. Operators must also obtain a Town of Luray business license and register for state and local taxes. There is no documented owner-occupancy or primary-residence requirement and no town-wide cap on the number of permits.
The Town’s Transient Occupancy Tax is 6%, raised from 5% in April 2022. This rate applies to properties within town limits. Properties in unincorporated Page County fall under the county’s separate 10% TOT rate.
On March 10, 2025, the Town Council adopted a lodging house resolution (passed 4-1) formalizing SUP evaluation criteria covering neighborhood impact, concentration of existing lodging houses, and the applicant’s compliance history. A possible zoning ordinance amendment (Article V, Section 519) was referred to the Planning Commission for public hearing. No numeric cap or blanket ban was imposed. Enforcement severity is rated moderate, with unregistered operators flagged for operating without licenses or remitting TOT.
Market Comparison
The U.S. STR market median occupancy runs near 55% and median ADR near $220. Luray’s April 2026 occupancy of 49.5% sits below the national median, while its $244 ADR exceeds it. RevPAR of $120.63 reflects the occupancy gap. The market’s overall score of 97.86 places it in the top tier of comparable rural destination markets, with investability at 89.81 and seasonality at 93.20. Rental demand (77.24) and regulation scores (75.50) are more moderate, reflecting the permit-by-hearing entry requirement.
Among professional operators, Evolve leads with 130 listings and 8,129 reviews at a 4.69 average rating. TripForth is a close second at 123 listings and 3,960 reviews (4.62 rating). Bryce Mountain Escapes manages 102 listings with a 4.71 average rating. Together these three operators account for approximately 355 listings, or about 8.1% of the market’s estimated 4,395 total listings.
The presence of established regional and national PMs means independently operated listings compete against a well-resourced operator base, setting a high bar on cleanliness, guest communication, and listing quality.
Frequently Asked Questions About Luray, Virginia
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