Lopez Island, Washington Short-Term Rental Market
Lopez Island, WA STRs averaged $233/night at 53.6% occupancy in April 2026, with summer peaks reaching 79% occupancy.
Quick Answer: Lopez Island, Washington is an active short-term rental market. average occupancy is 70%. average monthly revenue is $5,762. average daily rate is $317. the top operator is Vacasa with 327 listings. market score is 70/100 (grade B).
Market data reflects the Puget Sound/Bremerton regional market, which includes Lopez Island. Regulations, taxes, and permit details below are specific to Lopez Island.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Lopez Island is one of the San Juan Islands in San Juan County, Washington, with a permanent population of approximately 3,156 and an estimated 650,000 annual visitors. The island is accessible only by Washington State Ferry and is known for cycling, wildlife watching, kayaking, and its agricultural and artisan character. The STR market on Lopez Island is subject to a hard island-wide permit cap of 135 active vacation rental permits, making it one of the most supply-constrained STR markets in Washington State.
Note: The STR performance metrics and listing composition data in the Apivex dataset for this area likely reflect a broader San Juan Islands or coastal Washington market area, not Lopez Island’s 135-permitted-property supply exclusively. Treat listing count and composition figures as indicative of the broader regional market.
In April 2026, the latest data month, active STR listings in the market averaged $233 per night (ADR) at 53.6% occupancy, producing a RevPAR of $125. Average monthly revenue per listing reached $3,259. Listing composition in the dataset shows 94.1% entire-place units and 5.9% private rooms. One-bedroom units represent 40.2% of supply, followed by two-bedroom (26.0%), three-bedroom (21.3%), four-bedroom (8.9%), and five-or-more-bedroom (3.6%). Platform distribution: 47.1% Airbnb-only, 45.3% on both platforms, and 7.6% VRBO-only.
Year-over-year as of April 2026, ADR gained 4.27% while occupancy slipped 1.92%, producing a 2.19% revenue decline. Annual averages show consistent ADR growth: 2025 averaged $250 ADR and $3,908 monthly revenue; 2024 averaged $242 ADR and $3,760 monthly revenue.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 36% | $177 | $1,852 |
| Feb | 47% | $182 | $2,000 |
| Mar | 50% | $188 | $2,477 |
| Apr | 56% | $204 | $2,992 |
| May | 58% | $221 | $3,172 |
| Jun | 69% | $255 | $4,432 |
| Jul | 79% | $256 | $5,321 |
| Aug | 79% | $255 | $5,363 |
| Sep | 63% | $228 | $3,781 |
| Oct | 50% | $194 | $2,718 |
| Nov | 45% | $192 | $2,271 |
| Dec | 45% | $193 | $2,323 |
Top Short-Term Rental Operators in Lopez Island
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Vacasa | 327 | 24,080 | ★ 4.52 |
| 2 | Evolve | 144 | 9,100 | ★ 4.83 |
| 3 | San Juan Property Management | 91 | 8,680 | ★ 4.73 |
| 4 | AvantStay | 83 | 6,296 | ★ 4.75 |
| 5 | Brigadoon Vacation Rentals | 58 | 3,491 | ★ 4.81 |
What Kind of STR Should I Buy in Lopez Island?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,160 |
| 2 bed | 1,396 |
| 3 bed | 1,145 |
| 4 bed | 481 |
| 5 bed | 193 |
ADR by Property Tier
| Entire Home | $326 |
| Luxury | $565 |
| Professionally Managed | $381 |
Revenue by Dwelling Type
| Apartment | $4,225 |
| Entire Place | $5,964 |
| House | $6,381 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 47.1% |
| vrbo | 7.6% |
| both | 45.3% |
Investment Analysis
The defining investment characteristic of Lopez Island is the 135-permit island-wide cap on vacation rental permits. When the island is at or above the cap, no new permits are issued. New permits only become available when existing permits are abandoned, revoked, or otherwise lost through attrition, at which point San Juan County conducts a lottery to allocate openings. In practice, investors cannot typically enter this market by purchasing a non-permitted property and applying for a new permit: they must acquire a property where the existing vacation rental permit runs with the land, and certify compliance with San Juan County within 90 days of title transfer.
No housing snapshot data is available for Lopez Island in the current period, preventing a direct yield calculation. Investors should source current San Juan County assessor data and NWMLS records for property pricing; waterfront and rural island properties with existing VR permits command a significant scarcity premium above comparable properties without permits.
At $3,259 average monthly revenue, the annualized gross per permitted listing is approximately $39,108. Net returns after platform fees, management costs, Washington state and county lodging taxes, ferry costs, island logistics, maintenance, and vacancy will be materially lower. ADR tier differentiation: entire-home listings averaged $240, professionally managed listings averaged $265 ($32 ADR premium), and luxury-tier properties averaged $412 per night. Revenue by property type: houses averaged $3,532/month, entire-place listings averaged $3,362/month, and apartments averaged $2,475/month.
Apivex rates investability at 65.1 out of 100 and revenue growth at 81.5. The relatively modest investability score against strong revenue growth likely reflects the regulatory barrier to entry. Rental demand scores 83.4, consistent with the island’s 650,000 annual visitor base drawing from the Seattle metro.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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The average booking lead time on Lopez Island is 44.2 days, approximately six weeks ahead of arrival. This advance window is consistent with the island’s need for ferry reservations and travel planning from Seattle (roughly 3-4 hours by car and ferry). Summer peak weeks, particularly in July and August, likely book further in advance than the market average suggests.
Average length of stay is 3.4 nights. Island stays tend toward longer weekends rather than single nights, reflecting the effort involved in ferry travel. Operators should use minimum-night requirements of 2-3 nights during shoulder months and 3-4 nights during peak summer to reduce island-logistics friction costs. At $233 ADR over 3.4 nights, the average gross booking is approximately $792 before platform fees.
Short-Term Rental Regulations
Lopez Island vacation rentals are regulated by San Juan County under a strict framework as of mid-2026.
Permit cap: Lopez Island has a hard island-wide cap of 135 active vacation rental permits, set in May 2022. When the island is at or above the cap, no new permits are issued. New permits are allocated by lottery only when attrition (abandonment, revocation, or non-renewal) creates openings. This cap makes new investor entry dependent on acquiring an existing permitted property or winning a lottery.
Permit types and fees: Most permits are obtained via a Conditional Use Permit (CUP) at a $2,300 fee. Properties in the Lopez Village commercial designation require a Provisional Use Permit ($1,000) per Ordinance 10-2025 (effective June 25, 2025); pre-existing Lopez Village rentals must apply for a PUP by June 25, 2026.
Annual compliance: Every permit holder must file an annual Certificate of Compliance during the October through December window, at $145 online or $160 by mail, even if the rental was inactive during the year.
Ownership transfer: Permits generally run with the land. A new owner must certify compliance with San Juan County within 90 days of title transfer.
Taxes: The county lodging (occupancy) tax is 4% (2% basic plus 2% additional), collected by operators and remitted to San Juan County. Washington state and local sales and lodging taxes (approximately 8% or more combined) apply on top. Operators must obtain a Washington UBI number to remit state taxes.
Eligibility: Only single-family homes and accessory dwelling units (ADUs) qualify. Vacation rentals are prohibited in Natural and Conservancy shoreline designations and Agricultural and Forest Resource land use designations.
Enforcement: The county actively monitors online listing platforms for permit numbers and fines unpermitted operations $2,300. Enforcement is rated strict.
Market Comparison
Lopez Island’s April 2026 ADR of $233 is above the approximate U.S. STR median of $220, and its 53.6% April occupancy is near the national median of 55%, though summer months (July/August near 79%) significantly exceed national norms. The 2025 annual ADR of $250 reflects solid premium positioning relative to mainland Pacific Northwest suburban markets.
The operator landscape reflects San Juan Islands regional specialists alongside national brands. Vacasa leads with 327 listings and a 4.515 rating across 24,080 reviews. Evolve holds 144 listings with a 4.834 rating across 9,100 reviews. San Juan Property Management, a regionally focused San Juan Islands operator, holds 91 listings with a 4.728 rating across 8,680 reviews. AvantStay holds 83 listings (4.745 rating). Brigadoon Vacation Rentals, likely a local specialist, holds 58 listings with a 4.811 rating across 3,491 reviews. The presence of San Juan Property Management and Brigadoon reflects the island-specific management expertise this market requires.
Note that the market dataset listing counts (approximately 5,386) reflect a broader market area beyond Lopez Island’s 135-permit limit. The data is useful for pricing and revenue benchmarking but should not be read as a count of Lopez Island-only listings. Revenue growth (81.5 Apivex score) and rental demand (83.4) are strong within this island context.
Frequently Asked Questions About Lopez Island, Washington
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