Greenbank, WA Airbnb Market Data, Statistics, and Occupancy Rates

Greenbank Short-Term Rental Market Overview

Greenbank, WA is a small but growing short-term rental market on Whidbey Island with 28 active Airbnb listings and notable year-over-year listing growth of 89%. Average annual revenue sits at $44,440, driven by a pronounced summer peak that pushes monthly earnings above $7,200 in August. With an average home value of nearly $1.15 million and an ADR of $244—well below the Washington state average of $393—investors face a high entry cost relative to revenue, making selective deal sourcing essential in this competitive landscape.

Key Market Statistics

According to Rabbu market data, the Greenbank 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 Greenbank

Greenbank attracts investor attention thanks to its scenic Whidbey Island location, rapidly expanding supply signaling growing demand, and meaningful revenue differentiation between property sizes that rewards strategic acquisitions.

Expert Market Assessment

"Greenbank represents a competitive opportunity where the numbers reward careful property selection rather than broad market entry. The ROI score of 54 out of 100 reflects a below-average revenue-to-price ratio—driven by home values exceeding $1.15 million against $44,440 in average annual revenue—offset by encouraging growth trends and balanced supply dynamics. Seasonality is the defining characteristic here: August revenue of $7,237 dwarfs January's $1,796, creating a market where strong summer returns must carry the portfolio through quieter months. Investors who target 3-bedroom properties and optimize for peak-season pricing will find the most favorable return profile in this island market."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Greenbank

Average revenue by month in Greenbank

Greenbank exhibits strong seasonality, with August ($7,237) and July ($6,303) delivering peak revenue that's roughly 3.5–4x the January low of $1,796. The spread between the best and weakest months exceeds $5,400, meaning investors should budget for significant cash-flow variation and plan pricing strategies around the lucrative June–September corridor.

Active Airbnb listings by property size in Greenbank

Supply in Greenbank is concentrated in 2-bedroom (10 listings) and 3-bedroom (7 listings) properties, with very limited representation of other sizes. This tight supply distribution could signal opportunity for investors willing to offer larger or more unique configurations that aren't currently well-served in this small market.

Average daily rate (ADR) by property size in Greenbank

ADR jumps significantly from $203 for 2-bedroom units to $330 for 3-bedroom properties—a 63% premium that reflects guests' willingness to pay substantially more for additional space on Whidbey Island. Given the relatively modest occupancy rates across both sizes, the higher nightly rate on 3-bedrooms translates into meaningfully better revenue outcomes.

Average RevPAN by property size in Greenbank

Three-bedroom properties deliver $70 in RevPAN compared to just $34 for 2-bedrooms, effectively doubling the revenue generated per available night. This gap underscores that the 3-bedroom premium in ADR more than compensates for the modest occupancy differences between the two sizes.

Average occupancy rates by property size in Greenbank

Occupancy rates are modest across both tracked sizes, with 3-bedrooms at 21% and 2-bedrooms at 17%. These figures reflect Greenbank's seasonal demand pattern and suggest that neither size achieves year-round consistency, making peak-season revenue optimization critical for cash-flow stability.

Average monthly revenue by property size in Greenbank

Three-bedroom listings earn an average of $6,513 per month—more than 2.5 times the $2,560 monthly average for 2-bedroom properties. This dramatic gap makes 3-bedroom configurations the clear revenue leaders in this market and the most compelling option for investors focused on maximizing monthly income.

Average annual revenue by property size in Greenbank

On an annual basis, 3-bedroom properties generate $78,158 compared to $30,725 for 2-bedroom listings, representing a $47,000+ revenue advantage. While both configurations face the same high home values in Greenbank, the 3-bedroom revenue profile offers a meaningfully better path toward covering carrying costs and producing returns.

Most common amenities for Airbnb listings in Greenbank

Parking (100%), self check-in (96%), and a full kitchen (96%) are table stakes in Greenbank, while outdoor-oriented amenities like patios (89%), BBQ grills (86%), and backyards (82%) dominate—reflecting an island getaway guest profile. Notably, 54% of listings highlight waterfront access and 43% feature beach access, signaling that proximity to water is a significant competitive differentiator in this market.

Understanding Greenbank's ROI Score: 54/100

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

Greenbank's ROI score of 54 out of 100 places it in the Competitive Opportunity band, where investor demand is real but returns require more deliberate property selection. The below-average revenue-to-price ratio—a consequence of home values exceeding $1.15 million against roughly $44,440 in annual revenue—is the primary drag on the score, though above-average market growth and balanced supply-demand dynamics provide some counterweight. Investors should pair these metrics with thorough local regulatory research and focus on 3-bedroom properties where the revenue profile is substantially stronger.

Short-Term Rental Regulations in Greenbank

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

Permit Requirements

Short-term rental operators in Greenbank should check with Island County, Washington for any permit or registration requirements before listing a property. STR regulations on Whidbey Island may differ from other parts of the state, so verifying current rules with local planning and zoning authorities is strongly recommended.

Key Restrictions

Common restrictions in similar Washington markets may include occupancy limits, minimum stay requirements, noise ordinances, and parking rules. HOA covenants can also impose additional limitations on short-term rentals, so investors should review any applicable community guidelines before purchasing.

Tax Obligations

Short-term rental hosts in Washington State are typically subject to state and local lodging taxes, sales tax, and potentially tourism-related assessments. Many booking platforms collect and remit these taxes automatically, but hosts should confirm their specific obligations with the Washington Department of Revenue.

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

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Greenbank's above-average market growth trend suggests continued investor interest and rising demand, particularly during the June through September corridor when monthly revenues consistently exceed $4,300. Occupancy rates, currently at 27%, could see modest improvement as the market matures, though they're likely to remain in the 25–30% range given the area's seasonal nature. ADR may inch up 2–4% as hosts refine pricing strategies for peak summer travel, but off-season softness in January and February will continue to temper annualized returns. Investors should plan their cash-flow models around strong summer performance subsidizing quieter winter months."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Greenbank, WA

What is the average Airbnb occupancy rate in Greenbank?

The average Airbnb occupancy rate in Greenbank is currently 27%, which falls below the Washington state average of 36%. This reflects the market's seasonal nature—Whidbey Island draws visitors heavily during summer months while winter demand is more modest. Occupancy varies by property size, with 3-bedroom listings averaging 21% and 2-bedroom listings at 17%.

How much do Airbnb hosts make in Greenbank?

Airbnb hosts in Greenbank earn an average of $3,703 per month and approximately $44,440 per year based on trailing 12-month performance. However, earnings vary significantly by property size: 3-bedroom listings average $6,513 monthly ($78,158 annually), while 2-bedroom listings average $2,560 monthly ($30,725 annually). Seasonal swings also play a major role, with August revenues reaching $7,237 and January dipping to $1,796.

Is Greenbank a good market for Airbnb investment?

Greenbank carries an ROI score of 54 out of 100, placing it in the 'Competitive Opportunity' category. The market shows above-average growth trends and balanced supply-demand dynamics, but high home values (averaging $1,152,990) relative to rental revenue mean investors need to be strategic about deal sourcing. Three-bedroom properties offer the strongest return profile, and the 89% year-over-year growth in listings signals rising demand that could benefit early movers.

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

The average daily rate in Greenbank is $244, which is notably lower than the Washington state average of $393. ADR varies by property size, with 2-bedroom listings averaging $203 and 3-bedroom properties commanding $330 per night. These rates reflect the island's more relaxed, getaway-oriented market compared to urban destinations in the state.

Are short-term rentals legal in Greenbank?

Short-term rentals operate in Greenbank, WA, with 28 active Airbnb listings currently in the market. However, local regulations may require permits or registration through Island County authorities. Investors should verify current zoning rules, any permit requirements, and applicable restrictions with local government offices before purchasing or listing a property.

When is peak season for Airbnb in Greenbank?

Peak season in Greenbank runs from June through September, with August being the highest-earning month at $7,237 in average revenue—roughly four times the January low of $1,796. July is the second-strongest month at $6,303. The shoulder months of May and October still perform reasonably well, averaging $3,628 and $3,210 respectively, while winter months from December through February are the softest period.

How many Airbnbs are there in Greenbank?

There are currently 28 active Airbnb listings in Greenbank as of April 2026. The market has seen significant growth, with an 89% year-over-year increase in active listings. Supply is concentrated in 2-bedroom (10 listings) and 3-bedroom (7 listings) properties, with the remaining listings spread across other configurations.

How is Airbnb revenue calculated in Greenbank?

The annual and monthly revenue figures for Greenbank are derived from the trailing 12 months of historical booking performance for active comparable Airbnb listings in the market—not a forward-looking projection. We average each comparable listing's actual revenue per available night (RevPAN) by month over the past year, remove regional outliers, and roll the results up to a market-level historical average. This approach anchors the figures to what hosts have actually earned recently while naturally reflecting seasonal peaks and slower months, since each month uses its own historical performance data. Individual results can vary based on property quality, pricing strategy, location within the market, and operational management.

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 Greenbank and surrounding areas
• Average daily rates, occupancy rates, and RevPAN trends by property size
• Monthly and annual revenue estimates based on trailing 12-month booking performance
• Home value data sourced from the Zillow Home Value Index (ZHVI)
• Popular amenity prevalence across active listings in the market

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. Data reflects trailing 12-month averages and may not capture very recent market shifts or regulatory changes. Individual property results will vary based on location, condition, pricing strategy, and operational management.