Elkhart Lake, WI Airbnb Market Data, Statistics, and Occupancy Rates

Elkhart Lake Short-Term Rental Market Overview

Elkhart Lake, WI is a compact lakeside market where just 25 active Airbnb listings command an impressive average daily rate of $415—well above the $368 Wisconsin state average. With average annual revenue of $68,135 and an above-average revenue-to-price ratio, this small-town destination offers investors a niche opportunity driven by seasonal leisure demand. The market's intimate size means limited competition, though the pronounced seasonality and 24% average occupancy rate call for careful financial planning around peak summer months.

Key Market Statistics

According to Rabbu market data, the Elkhart Lake short-term rental market shows:

Data sources: Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Apr, 27 2026.

Why Investors Consider Elkhart Lake

Investors are drawn to Elkhart Lake for its premium nightly rates, limited supply, and favorable revenue relative to property values in a sought-after Wisconsin lake destination.

Expert Market Assessment

"Elkhart Lake presents an attractive but seasonally concentrated investment opportunity. Revenue swings dramatically from a winter low of roughly $1,500/month to a summer peak above $13,100 in July, meaning roughly 60% of annual income arrives between June and September. The market's ROI score of 63 out of 100 reflects genuine upside—particularly its above-average revenue-to-price ratio—tempered by below-average occupancy stability and softer growth trends. Investors who can weather lean winter months and capitalize on the premium summer window stand to earn solid returns, especially with larger properties that command higher nightly rates."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Elkhart Lake

Average revenue by month in Elkhart Lake

Elkhart Lake displays extreme seasonality, with July revenue ($13,103) roughly nine times the February low ($1,504). The June-through-September window accounts for the vast majority of annual earnings, making summer performance the single most critical factor for investor returns.

Active Airbnb listings by property size in Elkhart Lake

Supply is evenly distributed across 2-bedroom (5), 3-bedroom (5), and 4-bedroom (6) properties, with no single size dominating. The absence of 1-bedroom or studio listings and the relatively thin inventory across all sizes suggest a market oriented toward families and groups rather than solo travelers.

Average daily rate (ADR) by property size in Elkhart Lake

ADR increases modestly from $352 for 2-bedroom properties to $388 for 4-bedroom units, a relatively narrow spread of about 10%. This suggests that the premium charged for additional bedrooms is modest, but the higher occupancy and revenue of larger units more than compensates.

Average RevPAN by property size in Elkhart Lake

Four-bedroom properties deliver the strongest RevPAN at $120, nearly triple the $45 RevPAN of 3-bedroom listings and well above the $83 for 2-bedrooms. The 3-bedroom segment's low RevPAN signals that these units may struggle with occupancy despite reasonable nightly rates, making 4-bedroom configurations the clear efficiency leaders.

Average occupancy rates by property size in Elkhart Lake

Occupancy varies sharply by size: 4-bedroom properties lead at 31%, 2-bedrooms sit at 24%, and 3-bedrooms lag at just 12%. The low 3-bedroom occupancy suggests possible oversaturation or pricing misalignment in that segment, while 4-bedroom units appear to match guest demand most effectively.

Average monthly revenue by property size in Elkhart Lake

Four-bedroom units generate average monthly revenue of $7,112, nearly double the $3,661 earned by 2-bedroom properties and well ahead of 3-bedrooms at $4,373. For investors weighing acquisition costs against income, the jump from 3 to 4 bedrooms delivers the most meaningful revenue uplift.

Average annual revenue by property size in Elkhart Lake

Annual revenue ranges from $43,937 for 2-bedroom listings to $85,346 for 4-bedroom properties, with 3-bedrooms earning $52,480. The 4-bedroom configuration stands out as the highest-earning option, generating roughly 63% more annual revenue than 3-bedroom units—a compelling case for investors targeting larger properties in this market.

Most common amenities for Airbnb listings in Elkhart Lake

Kitchens (96%), self check-in (88%), and laundry facilities (80%) are near-universal, reflecting guest expectations for home-like convenience in a vacation setting. Lake access (32%) and waterfront location (12%) remain differentiators rather than standards, suggesting that properties offering direct water access could command a pricing premium in this lakeside market.

Understanding Elkhart Lake's ROI Score: 63/100

Rabbu's ROI Score is a proprietary metric that evaluates short-term rental investment potential based on multiple factors.

How the ROI Score is Calculated

What This Means for Investors

Elkhart Lake's ROI score of 63 out of 100 places it in the "Attractive Opportunity" band, driven primarily by an above-average revenue-to-price ratio that signals healthy yield potential relative to local home values. However, below-average marks for occupancy stability and market growth trend reflect the market's pronounced seasonality and the rapid increase in new listings. Investors should pair these data points with thorough local regulatory research and a realistic cash-flow model that accounts for lean winter months.

Short-Term Rental Regulations in Elkhart Lake

Understanding local STR regulations is essential before investing in Elkhart Lake. Here's the current regulatory landscape:

Permit Requirements

Short-term rental operators in Elkhart Lake, Wisconsin may need to obtain a tourist rooming house license at the state level and should verify whether the Village of Elkhart Lake requires any additional local registration or permit. Investors are encouraged to contact the local clerk's office and the Wisconsin Department of Agriculture, Trade and Consumer Protection before listing a property.

Key Restrictions

Common restrictions that may apply include occupancy limits tied to bedroom count, minimum stay requirements during certain periods, noise and nuisance ordinances, and parking regulations. Additionally, properties governed by homeowner associations may have their own covenants limiting or prohibiting short-term rentals, so reviewing HOA rules is essential before purchasing.

Tax Obligations

Wisconsin imposes a state sales tax as well as a room tax on short-term accommodations, and Sheboygan County or the Village of Elkhart Lake may levy additional local room taxes. Major platforms like Airbnb often collect and remit some of these taxes automatically, but hosts should confirm their full obligations with a local tax professional.

Regulations subject to change. Always verify with local authorities before purchasing. A Rabbu partner agent specializing in Elkhart Lake can provide current regulatory guidance.

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Elkhart Lake's short-term rental market is likely to remain anchored by its strong summer season, with July and August continuing to drive the bulk of annual revenue. ADR could see modest pressure as the listing count has grown significantly year over year, though the market's small scale and premium positioning may insulate rates. Investors should plan for occupancy in the 22–26% range annually, with winter months contributing only modestly. Properties that capture shoulder-season bookings in May, September, and October will be best positioned to smooth out cash flow."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Elkhart Lake, WI

What is the average Airbnb occupancy rate in Elkhart Lake?

The average occupancy rate for Airbnb listings in Elkhart Lake is currently 24%, which falls below the Wisconsin state average of 38%. This reflects the market's strong seasonal character—occupancy surges during the summer months and drops significantly in winter. Properties that optimize pricing and minimum-stay strategies for shoulder seasons can push above the market average.

How much do Airbnb hosts make in Elkhart Lake?

Airbnb hosts in Elkhart Lake earn an average of $5,677 per month, or approximately $68,135 per year, based on the trailing 12 months of booking data. Revenue varies widely by season: July tops $13,100 on average, while February dips to around $1,504. Larger properties—particularly 4-bedroom units—significantly outperform, averaging $85,346 annually.

Is Elkhart Lake a good market for Airbnb investment?

Elkhart Lake earns an ROI score of 63 out of 100, placing it in the "Attractive Opportunity" category. The market benefits from an above-average revenue-to-price ratio and premium nightly rates ($415 ADR), though occupancy stability and market growth trend score below average. It's best suited for investors comfortable with seasonal cash-flow patterns who can maximize the lucrative summer window while managing costs during quieter months.

What is the average daily rate (ADR) for Airbnb in Elkhart Lake?

The average daily rate in Elkhart Lake is $415, roughly 13% higher than the Wisconsin state average of $368. Rates scale modestly with property size, from $352 for 2-bedroom listings to $388 for 4-bedroom properties. This premium pricing reflects the area's appeal as a lakeside leisure destination.

Are short-term rentals legal in Elkhart Lake?

Short-term rentals are generally permitted in Elkhart Lake, WI, but operators should verify current local regulations with the Village of Elkhart Lake and ensure compliance with Wisconsin's tourist rooming house licensing requirements. Regulations can change, so prospective investors should consult local authorities and, if applicable, review any HOA restrictions before purchasing a property.

When is peak season for Airbnb in Elkhart Lake?

Peak season in Elkhart Lake runs from June through August, with July being the single highest-earning month at an average of $13,103 in revenue. The shoulder months of May ($5,975) and September ($7,834) also perform well. Winter months from January through March are the slowest, with revenues typically between $1,500 and $2,000 per month.

How many Airbnbs are there in Elkhart Lake?

As of April 2026, there are 25 active Airbnb listings in Elkhart Lake. The supply is concentrated among 2-bedroom (5 listings), 3-bedroom (5 listings), and 4-bedroom (6 listings) properties. The market has seen significant year-over-year listing growth, so monitoring supply trends is important for gauging future competition.

How is Airbnb revenue calculated in Elkhart Lake?

The annual and monthly revenue figures for Elkhart Lake are derived from the trailing 12 months of historical booking performance for active comparable Airbnb listings in the market—they are not forward-looking projections. We average each comparable listing's actual revenue per available night (RevPAN) by month over the past year, remove regional outliers, and aggregate the results into a market-level historical average. Because each month uses its own historical performance, the figures naturally reflect seasonal peaks and slower periods. Individual results can vary based on property quality, pricing strategy, and how actively a host manages their listing.

About Rabbu Market Data

Rabbu provides Airbnb and short-term rental market data and statistics across the United States. Our mission is to empower investors with accurate insights and easy-to-use tools, so they can confidently identify and act on the best opportunities in the Airbnb market.

What this data includes

• Regularly updated active Airbnb and STR listing counts for Elkhart Lake and surrounding areas
• Average daily rate, occupancy, and RevPAN metrics tracked over time
• Monthly and annual revenue estimates based on trailing 12-month booking data
• Property size breakdowns for supply, pricing, occupancy, and revenue
• Data sourced from Rabbu proprietary analytics and Zillow Home Value Index (ZHVI)

Sources and disclaimers

Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Apr, 27 2026. Revenue projections are estimates based on comparable properties and do not guarantee future performance. Local regulations, permit requirements, and tax obligations may change; always verify current rules with municipal and state authorities before investing. Individual property results will vary based on location, property quality, pricing strategy, and management approach.