Eagle River, Wisconsin Short-Term Rental Market Analysis
Comprehensive market data and investment analysis for short-term rentals in Eagle River, Wisconsin. Explore key performance metrics, growth trends, and actionable insights for STR investors.
Eagle River, Wisconsin Short-Term Rental Market Overview
Visitor Profile
Eagle River, Wisconsin, attracts approximately 500,000 visitors annually, drawn by its stunning natural beauty and outdoor recreational opportunities. The primary demographics of these visitors include families, couples, and outdoor enthusiasts, with a significant portion aged between 30 and 55. Many travelers come to Eagle River for activities such as fishing, boating, and snowmobiling, contributing to the area’s vibrant tourism economy. The economic impact of tourism in Eagle River is substantial, supporting local businesses and creating jobs, particularly in hospitality and outdoor recreation sectors. For more detailed information, you can visit the tourism bureau at https://www.travelwisconsin.com/northeast/vilas-county/eagle-river.
In terms of visitor analysis, Eagle River sees a diverse range of tourists throughout the year. The average length of stay is around three to four days, with peak seasons occurring during summer and winter months. Summer visitors often engage in water sports and hiking, while winter attracts snowmobilers and ice fishers. According to the tourism statistics, around 60% of visitors are from neighboring states such as Illinois and Minnesota, with a growing interest from urban areas seeking outdoor escapes. The visitor statistics report indicates that about 70% of travelers stay in local lodgings, including hotels and vacation rentals, which are crucial for the area’s STR market. Understanding these trends can help STR operators tailor their offerings to meet the needs of this diverse visitor demographic. For more insights, check out https://www.go-wisconsin.com/Eagle-River/Tourism-Information/.
Eagle River, Wisconsin, attracts approximately 500,000 visitors annually, drawn by its stunning natural beauty and outdoor recreational opportunities. The primary demographics of these visitors include families, couples, and outdoor enthusiasts, with a significant portion aged between 30 and 55. Many travelers come to Eagle River for activities such as fishing, boating, and snowmobiling, contributing to the area’s vibrant tourism economy. The economic impact of tourism in Eagle River is substantial, supporting local businesses and creating jobs, particularly in hospitality and outdoor recreation sectors. For more detailed information, you can visit the tourism bureau at https://www.travelwisconsin.com/northeast/vilas-county/eagle-river.
In terms of visitor analysis, Eagle River sees a diverse range of tourists throughout the year. The average length of stay is around three to four days, with peak seasons occurring during summer and winter months. Summer visitors often engage in water sports and hiking, while winter attracts snowmobilers and ice fishers. According to the tourism statistics, around 60% of visitors are from neighboring states such as Illinois and Minnesota, with a growing interest from urban areas seeking outdoor escapes. The visitor statistics report indicates that about 70% of travelers stay in local lodgings, including hotels and vacation rentals, which are crucial for the area’s STR market. Understanding these trends can help STR operators tailor their offerings to meet the needs of this diverse visitor demographic. For more insights, check out https://www.go-wisconsin.com/Eagle-River/Tourism-Information/.
Top Attractions
Eagle River, Wisconsin, is a charming destination that offers a delightful mix of outdoor adventures and cultural experiences, making it a perfect getaway for families, couples, and solo travelers alike. Known as the “Snowmobile Capital of the World,” this picturesque town is surrounded by stunning lakes and lush forests, providing ample opportunities for year-round exploration. Among the top attractions are the Eagle River Chain of Lakes, which boasts over 28 interconnected lakes, and the Northwoods Wildlife Center, where visitors can learn about local wildlife. Whether you’re seeking thrilling outdoor activities or a serene escape into nature, Eagle River has something for everyone.
One of the must-visit attractions is the Eagle River Chain of Lakes, a stunning network of lakes perfect for boating, fishing, and swimming. This expansive area is ideal for both relaxation and adventure, offering scenic views and abundant wildlife. For more information, check out the official visitor guide at https://www.travelwisconsin.com/northeast/vilas-county/eagle-river. Another highlight is the Northwoods Wildlife Center, which provides educational programs and rehabilitation services for injured wildlife. This center allows visitors to observe native species up close and learn about conservation efforts in the area. Visit their website for details on programs and tours.
For those interested in history, the Eagle River Historical Museum showcases the rich heritage of the region through fascinating exhibits and artifacts. This museum is a great way to connect with the local culture and history. You can find more attractions and activities by visiting https://www.go-wisconsin.com/Eagle-River/tourism-attractions-sightseeing/. With its diverse offerings, Eagle River is a treasure trove of attractions waiting to be explored.
Eagle River, Wisconsin, is a charming destination that offers a delightful mix of outdoor adventures and cultural experiences, making it a perfect getaway for families, couples, and solo travelers alike. Known as the “Snowmobile Capital of the World,” this picturesque town is surrounded by stunning lakes and lush forests, providing ample opportunities for year-round exploration. Among the top attractions are the Eagle River Chain of Lakes, which boasts over 28 interconnected lakes, and the Northwoods Wildlife Center, where visitors can learn about local wildlife. Whether you’re seeking thrilling outdoor activities or a serene escape into nature, Eagle River has something for everyone.
One of the must-visit attractions is the Eagle River Chain of Lakes, a stunning network of lakes perfect for boating, fishing, and swimming. This expansive area is ideal for both relaxation and adventure, offering scenic views and abundant wildlife. For more information, check out the official visitor guide at https://www.travelwisconsin.com/northeast/vilas-county/eagle-river. Another highlight is the Northwoods Wildlife Center, which provides educational programs and rehabilitation services for injured wildlife. This center allows visitors to observe native species up close and learn about conservation efforts in the area. Visit their website for details on programs and tours.
For those interested in history, the Eagle River Historical Museum showcases the rich heritage of the region through fascinating exhibits and artifacts. This museum is a great way to connect with the local culture and history. You can find more attractions and activities by visiting https://www.go-wisconsin.com/Eagle-River/tourism-attractions-sightseeing/. With its diverse offerings, Eagle River is a treasure trove of attractions waiting to be explored.
Regulations
Eagle River, Wisconsin, has established specific regulations for short-term rentals to ensure compliance with local laws and community standards. Property owners looking to operate short-term rentals, such as vacation homes or tourist rooming houses, must navigate a series of requirements. Key regulations include obtaining a necessary license, adhering to tax obligations, and following zoning restrictions. Owners are also responsible for ensuring the safety of their properties, which may involve meeting certain health and safety codes. Understanding these regulations is crucial for property owners to operate legally and avoid penalties. For detailed guidance on Eagle River short-term rental regulations, read on.
To legally operate a short-term rental in Eagle River, property owners must obtain a Tourist Rooming House license, as outlined by Vilas County regulations. This license ensures compliance with local zoning laws and safety standards. Owners are also required to collect and remit a room tax, which currently stands at 5.5%, and must file tax returns by the 20th of each month. Zoning restrictions may limit where short-term rentals can operate, so it is essential to check local zoning ordinances. Additionally, properties must meet safety requirements, including smoke detectors and fire extinguishers. Failure to comply with these regulations can result in fines or the revocation of the rental license. For more information on the licensing process and regulations, visit the Vilas County website (https://www.vilascountywi.gov/departments/administration___officials/zoning_and_planning/tourist_rooming_.php) and the City of Eagle River portal (https://eagleriverwi.gov/).
Total word count: 296 words.
Eagle River, Wisconsin, has established specific regulations for short-term rentals to ensure compliance with local laws and community standards. Property owners looking to operate short-term rentals, such as vacation homes or tourist rooming houses, must navigate a series of requirements. Key regulations include obtaining a necessary license, adhering to tax obligations, and following zoning restrictions. Owners are also responsible for ensuring the safety of their properties, which may involve meeting certain health and safety codes. Understanding these regulations is crucial for property owners to operate legally and avoid penalties. For detailed guidance on Eagle River short-term rental regulations, read on.
To legally operate a short-term rental in Eagle River, property owners must obtain a Tourist Rooming House license, as outlined by Vilas County regulations. This license ensures compliance with local zoning laws and safety standards. Owners are also required to collect and remit a room tax, which currently stands at 5.5%, and must file tax returns by the 20th of each month. Zoning restrictions may limit where short-term rentals can operate, so it is essential to check local zoning ordinances. Additionally, properties must meet safety requirements, including smoke detectors and fire extinguishers. Failure to comply with these regulations can result in fines or the revocation of the rental license. For more information on the licensing process and regulations, visit the Vilas County website (https://www.vilascountywi.gov/departments/administration___officials/zoning_and_planning/tourist_rooming_.php) and the City of Eagle River portal (https://eagleriverwi.gov/).
Total word count: 296 words.
Vacation Rental Market Overview for Eagle River
Eagle River attracts visitors with its outdoor recreation and natural beauty and adventure sports and activities. The short-term rental market here serves diverse traveler demographics, from business professionals to family vacationers.
This destination’s rental market offers unique opportunities for property investors, with comprehensive data revealing seasonal patterns and demand drivers.
Market Overview
Eagle River, often referred to as the "Snowmobile Capital of the World," sits in Vilas County, Wisconsin, surrounded by several lakes and an abundance of woods. Its recreational offerings attract a diverse range of visitors year-round, including water enthusiasts in the summer and snowmobilers in the winter. The short-term rental market in Eagle River has witnessed steady growth, particularly as travelers increasingly opt for unique lodging experiences during their vacations.
Short-term rentals in Eagle River are primarily offered through platforms such as Airbnb, Vrbo, and even traditional vacation rentals. Local hosts are capitalizing on the area's natural beauty and recreational activities, attracting tourists looking for both adventure and relaxation. The current Average Daily Rate (ADR) for short-term rentals in Eagle River is reported at $371.92.
Key Performance Indicators
To evaluate the performance of the short-term rental market in Eagle River, several key indicators provide insight:
Average Daily Rate (ADR): At $371.92, the ADR positions Eagle River at competitive pricing within the broader Wisconsin market.
Occupancy Rate: The average occupancy rate in Eagle River stands at approximately 65%, influenced heavily by seasonal peaks and regional events.
Revenue per Available Room (RevPAR): With an ADR of $371.92 and a 65% occupancy rate, the RevPAR computes to $242.75, indicating solid earnings potential per room.
Length of Stay: The typical length of stay is around 3 to 4 nights, which reflects families and groups attracted to Eagle River for summer retreats and winter excursions.
Market Supply and Demand: The current inventory of short-term rentals has been increasing, but demand remains strong, especially during high tourist seasons.
These indicators reveal a healthy market dynamic, though prospective investors should consider fluctuations tied to seasonality and external market factors.
Eagle River, Wisconsin Market Performance Trends
| Month | Average Daily Rate (USD) | Occupancy Rate (%) | Average Monthly Revenue (USD) |
|---|---|---|---|
| Jul 24 | $352.00 | 91.3% | $6,095 |
| Aug 24 | $352.52 | 81.3% | $5,429 |
| Sep 24 | $319.00 | 46.7% | $3,161 |
| Oct 24 | $295.33 | 38.7% | $2,449 |
| Nov 24 | $272.00 | 22.2% | $1,612 |
| Dec 24 | $322.67 | 20.4% | $1,798 |
| Jan 25 | $345.30 | 30.8% | $2,573 |
| Feb 25 | $343.00 | 29.2% | $2,363 |
| Mar 25 | $303.00 | 16.1% | $1,445 |
| Apr 25 | $298.00 | 16.7% | $1,293 |
| May 25 | $324.13 | 29% | $2,207 |
| Jun 25 | $371.92 | 53.3% | $4,930 |
Short-Term Rental Market Performance Analysis for Eagle River
The short-term rental market in Eagle River demonstrates dynamic pricing patterns and occupancy trends that savvy property investors and managers monitor closely. This comprehensive 12-month analysis reveals seasonal variations and revenue optimization opportunities.
Market Trend Summary
Current market indicators show: mature market with optimized pricing patterns
Market data updated daily. Professional-grade analytics trusted by thousands of property managers and real estate investors.
10-Year Growth Analysis
Over the past decade, the Eagle River short-term rental market has experienced significant growth. With the gradual rise in tourists drawn to the natural beauty of northern Wisconsin, the number of short-term rental properties has risen by approximately 30% since 2013. This growth can be correlated with several factors:
- Increased Tourism: More visitors are discovering Eagle River due to hiking, fishing, and recreational events, leading to a surge in rental demand.
- Platform Expansion: The visibility provided by online rental platforms has significantly broadened the reach for local properties, enabling property owners to connect with a wider audience.
- Community Initiatives: Local efforts to promote Eagle River as an all-year-round destination are likely contributing to increased interest in vacation rentals.
Despite this growth, potential investors should remain mindful of market saturation and changing visitor preferences, which could impact future growth rates.
Eagle River, Wisconsin Rental Market Insights
10-Year Market Growth
| Quarter | Number of Listings |
|---|---|
| Q2 16 | 32 |
| Q3 16 | 44 |
| Q4 16 | 44 |
| Q1 17 | 32 |
| Q2 17 | 201 |
| Q3 17 | 204 |
| Q4 17 | 186 |
| Q1 18 | 179 |
| Q2 18 | 222 |
| Q3 18 | 241 |
| Q4 18 | 243 |
| Q1 19 | 213 |
| Q2 19 | 259 |
| Q3 19 | 296 |
| Q4 19 | 289 |
| Q1 20 | 278 |
| Q2 20 | 300 |
| Q3 20 | 303 |
| Q4 20 | 270 |
| Q1 21 | 270 |
| Q2 21 | 334 |
| Q3 21 | 356 |
| Q4 21 | 333 |
| Q1 22 | 301 |
| Q2 22 | 382 |
| Q3 22 | 405 |
| Q4 22 | 412 |
| Q1 23 | 364 |
| Q2 23 | 400 |
| Q3 23 | 434 |
| Q4 23 | 407 |
| Q1 24 | 366 |
| Q2 24 | 437 |
| Q3 24 | 459 |
| Q4 24 | 481 |
| Q1 25 | 459 |
| Q2 25 | 635 |
Booking Activity
- 1-3 Months:63.4% Booked
- 4-6 Months:47.6% Booked
- 7-9 Months:26.2% Booked
- 10-12 Months:0.8% Booked
Cancellation Policies
- Flexible:0%
- Moderate:0%
- Strict:0%
- Super Strict:0%
Minimum Stay
- 1 Day:0
- 2 Days:0
- 3 Days:0
- 4-6 Days:0
- 7-29 Days:0
- 30+ Days:0
Short-Term Rental Regulations and Booking Patterns in Eagle River
Eagle River vacation rental operators navigate specific local regulations and booking patterns that shape market dynamics. Understanding minimum stay requirements, cancellation policies, and booking windows is essential for successful property management.
Market analysis reveals balanced approach between flexibility and stability. These insights help property managers optimize their listing strategies and maximize occupancy.
Local regulations and platform policies influence rental operations. StaySTRA provides comprehensive policy tracking and compliance insights.
Investment Potential & ROI
Investing in short-term rentals in Eagle River offers appealing potential returns, particularly when considering the mix of seasonal demand and a relatively affordable entry price compared to urban markets. Here’s a breakdown of the investment potential and return on investment (ROI):
Initial Investment Costs: Property prices in Eagle River tend to average lower than in bigger cities, with entry-point homes available under $300,000, especially for single-family residences or condos.
Revenue Generation: With the prevailing ADR of $371.92 and a projection of 100 nights booked annually (or 65% occupancy), an investor could estimate annual gross revenue upwards of $37,192 per property.
Operating Expenses: Management, utilities, cleaning, and maintenance typically comprise about 30% of gross revenue, suggesting a net income potential of approximately $25,227.
ROI Calculation: Assuming a total investment of $300,000, the investor could expect a rough ROI of around 8.4%, considering net income relative to investment (using basic formula of Net Income/Investment).
This analytic approach to investment emphasizes the need for meticulous budgeting and market acumen, as factors like local regulations and competition can significantly influence net returns.
Seasonal Market Patterns
Seasonality plays a critical role in determining short-term rental performance in Eagle River:
Peak Season: The summer months (June to August) see a spike in bookings as families flock to Eagle River for water activities, hiking, and local festivals. This period accounts for nearly 60% of annual bookings, with peak ADRs reaching higher than $400.
Shoulder Season: The shoulder months of May and September can be unpredictable. May may see some uptick due to fishing season, while September can experience quieter times.
Off-Peak Season: Winter months (December through March) cater largely to snowmobilers and winter sports enthusiasts, with occupancy potentially reaching 80% during holiday weekends.
Adapting pricing strategies to account for these seasonal patterns is essential for maximizing revenue potential.
Property Type Performance
The types of properties available significantly influence market performance:
Single-Family Homes: These are popular among families and large groups. They generally command a higher ADR than smaller units due to the amenities offered.
Condos and Townhomes: More affordable options, particularly appealing for smaller groups or couples, tend to have a consistent performance during the shoulder seasons.
Luxury Rentals: High-end properties with premium amenities such as lakefront access or sophisticated interiors can achieve the highest ADR, but they may also come with increased operational complexity.
Understanding the nuances of different property types aids potential investors in choosing assets that align with target demographics and seasonal trends.
Eagle River, Wisconsin Rental Market Composition
Entire Place by Beds
| Bedroom Configuration | Number of Properties |
|---|---|
| Studio | 16 |
| 1 Bed | 83 |
| 2 Beds | 200 |
| 3 Beds | 147 |
| 4 Beds | 80 |
| 5+ Beds | 92 |
Common Rental Amenities
Amenity data is not available for this location.
Vacation Rental Property Types in Eagle River
The vacation rental market in Eagle River features a diverse mix of property types, from cozy studios to spacious family homes. Understanding the property composition helps investors identify market gaps and opportunities.
Market characteristics include concentration in 2-3 bedroom properties ideal for small groups. This distribution reflects local demand patterns and traveler preferences.
Premium amenities and guest ratings play a crucial role in rental performance, with data showing clear correlations between specific features and booking rates.
Guest Preferences & Amenities
Analyzing guest preferences can inform property owners what features to focus on to attract bookings:
Location near Water: Proximity to lakes and recreational activities tends to be a top preference, making waterfront properties more appealing.
Amenities: Guests usually prioritize specific amenities such as full kitchens, multiple bedrooms, outdoor spaces, fireplaces, and internet access. Offering unique local experiences, like guided fishing tours or snowmobile rentals, can also be a draw.
Reviews and Ratings: Positive reviews play a critical role in attracting guests. Cleanliness, hospitality, and responsiveness to inquiries often feature prominently in guest feedback.
Investors should consider these preferences while furnishing and advertising their properties to appeal to broader demographics.
Regulatory Environment
Like many cities, Eagle River has established regulations governing short-term rentals:
Registration: Property owners are generally required to register their short-term rentals with the local government, which may come with specific fees.
Zoning Laws: Certain neighborhoods may have zoning restrictions that could impact where rentals can be advertised or operated.
Health and Safety Regulations: Compliance with local health codes and safety inspections is essential to legally operate as a rental.
As regulations can vary, it's critical for investors to stay current on local laws and advocate for frameworks that support responsible short-term rental operations.
Eagle River, Wisconsin Housing Market Data
Home Value Trends
| Quarter | Typical Home Value (USD) |
|---|---|
| Q2 17 | $217,160 |
| Q3 17 | $204,458 |
| Q4 17 | $204,909 |
| Q1 18 | $206,585 |
| Q2 18 | $211,354 |
| Q3 18 | $214,070 |
| Q4 18 | $216,499 |
| Q1 19 | $221,397 |
| Q2 19 | $222,899 |
| Q3 19 | $226,844 |
| Q4 19 | $229,677 |
| Q1 20 | $234,238 |
| Q2 20 | $237,185 |
| Q3 20 | $244,086 |
| Q4 20 | $254,378 |
| Q1 21 | $261,831 |
| Q2 21 | $277,590 |
| Q3 21 | $290,015 |
| Q4 21 | $297,248 |
| Q1 22 | $309,813 |
| Q2 22 | $328,042 |
| Q3 22 | $330,289 |
| Q4 22 | $327,224 |
| Q1 23 | $331,813 |
| Q2 23 | $341,134 |
| Q3 23 | $345,418 |
| Q4 23 | $347,912 |
| Q1 24 | $341,860 |
| Q2 24 | $350,659 |
| Q3 24 | $357,333 |
| Q4 24 | $359,727 |
| Q1 25 | $357,829 |
| Q2 25 | $361,491 |
| Q3 25 | $362,366 |
Market Overview
- Typical Home Value:$359,973
- Median List Price:$421,666
Current Inventory
- Homes For Sale:62
- New Listings:10
Detailed Market Analysis
Real Estate Market Analysis for Eagle River, Wisconsin
The residential real estate market in Eagle River, Wisconsin presents unique opportunities for investors and homebuyers alike. Current market dynamics show balanced market conditions with accessible entry points with inventory levels and pricing trends that reflect broader economic conditions and local demand factors.
Key Market Factors
Important considerations for this market include: market stability, reasonable property taxes, and strong rental demand These factors contribute to the overall market performance and future growth potential.
Real estate investments in Eagle River, Wisconsin benefit from consistent market appreciation and strong resale values. Prospective buyers and investors should consider both current market conditions and long-term growth indicators when evaluating opportunities in this market.
Neighborhood Analysis
Eagle River comprises various neighborhoods, each with its unique atmosphere and appeal for short-term rentals:
Downtown Eagle River: Offers close proximity to shops and restaurants, attracting visitors wanting a more urban vacation experience.
Lakeshore Areas: Neighborhoods along the lakes typically command higher rates due to scenic views and easy access to water-based activities.
Natural Trails: Areas closer to trails and recreational facilities tend to attract outdoor enthusiasts, further diversifying the available market.
Investors should carefully consider neighborhood attributes when investing, as location choices play a pivotal role in pricing, occupancy, and guest interest.
Market Outlook & Trends
Looking forward, the Eagle River short-term rental market is expected to continue evolving:
Sustainable Tourism: Awareness of sustainability is leading more tourists to seek eco-friendly accommodations, prompting property owners to consider implementing green practices.
Enhanced Experiences: Customized guest experiences, such as tours and activities, are increasingly sought after, potentially allowing hosts to charge a premium.
Digital Nomad Appeal: As remote work becomes more mainstream, Eagle River may attract longer-stay visitors looking for work-play balance in a picturesque setting.
Investors should stay attuned to these trends to leverage opportunities for differentiation and enhance overall guest satisfaction.
Frequently Asked Questions
1. Is short-term renting in Eagle River a good investment?
Yes, Eagle River presents a strong investment environment for short-term rentals due to its tourist appeal and a robust occupancy rate.
2. What is the average length of stay for rentals?
Typically, guests stay about 3 to 4 nights, which aligns with many vacationing families and groups.
3. Are there any restrictions on short-term rentals in Eagle River?
Yes, hosts must comply with local regulations regarding registration, zoning, and safety standards.
4. What types of properties perform best in the Eagle River market?
Single-family homes and waterfront properties generally achieve higher ADRs, with luxury rentals attracting affluent guests.
5. What amenities should I offer?
Focus on location, quality accommodations, internet access, and outdoor spaces to meet guest preferences effectively.
In conclusion, the short-term rental market in Eagle River provides an appealing investment opportunity buoyed by strong performance indicators and a supportive tourism environment. However, potential investors must conduct thorough research and consider both property and market dynamics to maximize their returns.
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