Lake Geneva, Wisconsin Short-Term Rental Market
Lake Geneva STRs averaged $352/night at 36.1% occupancy in April 2026, with revenue up 12.0% year-over-year.
Quick Answer: Lake Geneva, Wisconsin is an active short-term rental market. average occupancy is 62%. average monthly revenue is $8,411. average daily rate is $542. the top operator is Geneva Lakes Vacations with 141 listings. market score is 69/100 (grade C).
Market data reflects the Lake Geneva/Alpine Valley regional market, which includes Lake Geneva. Regulations, taxes, and permit details below are specific to Lake Geneva.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Lake Geneva, Wisconsin is a compact resort destination of roughly 8,300 residents that draws weekenders from Chicago and Milwaukee year-round. The short-term rental market reflects that dynamic: high nightly rates, concentrated summer demand, and strong year-over-year revenue growth. In April 2026, the average daily rate was $352 and occupancy was 36.1%, generating $127 in revenue per available room. Revenue grew 12.0% year-over-year through April 2026, the strongest metric in the market.
Approximately 1,055 STR listings are active, according to the platform dimension snapshot. Entire-place properties account for 1,020 listings (about 97% of the market), with only 35 private rooms. The bedroom mix is centered on three-bedroom (275 listings), two-bedroom (250), and four-bedroom (216) properties, with 160 listings at five or more bedrooms and 153 one-bedroom units. The high share of multi-bedroom properties reflects the group and corporate retreat character of the market.
Channel distribution is notable: 694 listings appear on both Airbnb and VRBO, while 258 are Airbnb-only and 103 are VRBO-only. The high dual-platform presence (66% of listings) suggests operators are actively maximizing distribution. The overall market score is 69 out of 100, with an investability score of 89.9 and a revenue growth score of 99.3, signaling strong momentum even as rental demand (49.7) remains moderate due to the resort’s seasonal nature.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 29% | $306 | $2,499 |
| Feb | 32% | $308 | $2,466 |
| Mar | 35% | $288 | $2,662 |
| Apr | 34% | $310 | $2,698 |
| May | 46% | $379 | $3,684 |
| Jun | 59% | $452 | $6,397 |
| Jul | 67% | $462 | $7,839 |
| Aug | 59% | $447 | $6,977 |
| Sep | 42% | $393 | $4,530 |
| Oct | 36% | $345 | $3,622 |
| Nov | 32% | $312 | $2,782 |
| Dec | 38% | $327 | $3,091 |
Top Short-Term Rental Operators in Lake Geneva
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Geneva Lakes Vacations | 141 | 6,018 | ★ 4.83 |
| 2 | Grand Welcome | 47 | 1,240 | ★ 4.84 |
| 3 | Evolve | 32 | 1,545 | ★ 4.86 |
| 4 | Vacation Rental Property Partners | 21 | 475 | ★ 4.85 |
| 5 | Portside Rentals | 9 | 92 | ★ 4.86 |
What Kind of STR Should I Buy in Lake Geneva?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 153 |
| 2 bed | 250 |
| 3 bed | 275 |
| 4 bed | 216 |
| 5 bed | 160 |
ADR by Property Tier
| Entire Home | $553 |
| Luxury | $903 |
| Professionally Managed | $603 |
Revenue by Dwelling Type
| Apartment | $6,561 |
| Entire Place | $8,558 |
| House | $9,075 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 24.5% |
| vrbo | 9.8% |
| both | 65.8% |
Investment Analysis
Lake Geneva presents one of the more compelling STR investment profiles in the Midwest, driven by high ADR, surging revenue growth, and a relatively accessible entry price for a lakefront resort market. The April 2026 average daily rate of $352 is well above the national median. Luxury-tier listings averaged $660 per night and professionally managed properties averaged $378, compared to the all-listing market average of $352.
Monthly revenue for the average listing reached $3,222 in April 2026. Houses averaged $3,537 and entire-place listings averaged $3,274. At the April 2026 pace, annualized revenue would be approximately $38,663, though the seasonal swings are significant and summer months (June through August) drive a disproportionate share of annual income.
The typical home value was $413,965 as of April 2026, with a median list price of $400,500 and 57 active properties for sale. At an annualized revenue pace of $38,663 against a $413,965 entry cost, the implied gross revenue yield is approximately 9.3%, which is above the national STR average for resort markets. This figure does not account for operating costs, management fees, dual licensing requirements, or financing.
Year-over-year metrics through April 2026 are notably strong: occupancy rose 8.93 percentage points, ADR grew 4.62%, and revenue expanded 11.98%. The revenue growth score of 99.3 out of 100 confirms this is among the top-performing markets nationally on that dimension. The 180-day annual rental cap (see regulatory section) is the primary constraint on total annual revenue potential.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Lake Geneva guests booked an average of 58 days in advance in April 2026, and the average length of stay was 2.96 nights, just under 3 nights. The long 58-day lead time is one of the highest among Midwestern resort markets and reflects advance planning for summer weekend getaways from Chicago and Milwaukee, where competition for specific dates is high.
The near-3-night average stay aligns with the 2-night minimum stay requirement, suggesting many guests book the minimum or a Friday-to-Monday pattern. This creates a predictable turnover cadence but requires efficient cleaning operations to support weekend-dominated demand.
For pricing strategy, the 58-day window means operators should set peak summer rates well in advance of the high-demand June through August period. Listings not priced by April may miss the first wave of Chicago-area summer planners. Dynamic pricing tools that track compression events (holiday weekends, Winterfest) are likely more valuable here than in markets with short lead times, where last-minute demand patterns are less predictable. The 180-day cap also creates urgency for operators to maximize yield on every available booking during the permitted season.
Short-Term Rental Regulations
Lake Geneva has a dual-license requirement that is among the more structured STR frameworks in the Midwest. Operators must hold both a City of Lake Geneva Short-Term Rental Annual License ($400 per year, due by April 30, with an approximately $250 late fee) and a State of Wisconsin Tourist Rooming House License (approximately $110 per year, plus a one-time inspection fee of approximately $300 for new properties).
STRs are defined as rentals of more than 6 but fewer than 29 consecutive days. A property may operate as an STR for a maximum of 180 days per calendar year; longer-term stays of 29 or more days fall outside this restriction. The 2-night minimum stay applies during the rental season, along with a general limit of one new guest arrival per 7 days. Two off-street parking spaces are required, plus one additional space per bedroom above two. A designated local operator must reside within 25 miles of the property.
The city’s room tax is 8% (increased from 5%), applied on top of Wisconsin’s 5% state sales tax. There is no owner-occupancy or primary-residence requirement, permitting investor-owned rentals. Enforcement is rated strict: the city adopted the Rentalscape monitoring platform in 2025 to flag unlicensed or noncompliant listings across booking platforms, with fines of up to $1,000 per day for violations. The $400 annual city license fee reflects a reduction from earlier rates following a legal challenge; the current fee took effect after that review.
Market Comparison
Nationally, STR markets average approximately 55% occupancy and $220 in ADR. Lake Geneva’s April 2026 occupancy of 36.1% is well below the national average, but this reflects the resort’s heavy summer concentration rather than weak underlying demand. July occupancy reaches 67.2%, well above national norms. The ADR of $352 is 60% above the national median, consistent with a premium lakefront resort destination.
Revenue growth of 12.0% year-over-year through April 2026 is exceptional. By comparison, many mature STR markets have seen flat or negative revenue growth in 2025 to 2026. The revenue growth score of 99.3 out of 100 in the market dimension data confirms Lake Geneva’s outperformance.
Geneva Lakes Vacations is the dominant operator, with 141 listings and 6,018 reviews at a 4.83 average rating, holding roughly 13% of the market by listing count. Grand Welcome manages 47 listings with 1,240 reviews (4.84 rating) and Evolve holds 32 listings with 1,545 reviews (4.86 rating). The top three operators together represent 220 listings, approximately 21% of the estimated market. This is a notably higher concentration than many resort markets, indicating that professional management plays a meaningful role in the Lake Geneva STR ecosystem.
Frequently Asked Questions About Lake Geneva, Wisconsin
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