Iron River, MI Airbnb Market Data, Statistics, and Occupancy Rates

Iron River Short-Term Rental Market Overview

Iron River, MI offers an unusually favorable revenue-to-price ratio for short-term rental investors, with average home values around $213,310 and trailing annual revenue of $30,932 — a combination that's hard to find in many Michigan markets. The market is small at just 28 active Airbnb listings, and while occupancy sits at 25% (well below the 42% state average), the above-average ADR of $312 and strong summer earnings help compensate. This is a seasonal, recreation-driven market where investors who price and market strategically can capture meaningful returns relative to low acquisition costs.

Key Market Statistics

According to Rabbu market data, the Iron River 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 Iron River

Low property prices paired with strong summer nightly rates give Iron River a revenue-to-price ratio that stands out among Michigan's smaller STR markets.

Expert Market Assessment

"Iron River earns a Standout Opportunity designation with an ROI score of 78 out of 100, driven primarily by its impressive revenue-to-price ratio. The market is distinctly seasonal: July and August deliver the lion's share of annual income, while April bottoms out at just $660 in average revenue. Investors who can weather the off-season dips — or supplement with winter bookings targeting snowmobilers and outdoor enthusiasts — stand to benefit from one of Michigan's more affordable STR entry points. The below-average occupancy rate is the main risk factor, but it's partially offset by above-average nightly rates that keep per-booking revenue healthy."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Iron River

Average revenue by month in Iron River

Iron River's revenue peaks sharply in July ($4,477) and August ($4,276), with a dramatic trough in April at just $660 — a spread of nearly $3,800 that underscores the market's deep seasonality. Winter months hold steadier than fall, with January through March averaging around $2,300–$2,400, likely driven by snowmobile and winter recreation traffic.

Active Airbnb listings by property size in Iron River

The market's supply is tightly concentrated, with 13 three-bedroom and 7 two-bedroom listings accounting for the tracked inventory. The absence of larger property types (4+ bedrooms) could represent an opportunity for investors willing to offer more space and differentiation in a small market.

Average daily rate (ADR) by property size in Iron River

Three-bedroom properties command $274 per night compared to $206 for two-bedroom units, a 33% premium that aligns with the added space and capacity guests expect for group or family trips. For investors, the step-up in ADR from two to three bedrooms suggests that the marginal cost of a larger property is likely well-justified by higher nightly rates.

Average RevPAN by property size in Iron River

Revenue per available night tells a clear story: three-bedroom listings generate $71 RevPAN versus $43 for two-bedroom units, reflecting both higher rates and slightly better occupancy. This gap of nearly 65% makes three-bedroom properties the stronger revenue generators on a per-night basis in Iron River.

Average occupancy rates by property size in Iron River

Three-bedroom listings achieve 26% occupancy while two-bedroom units sit at 21%, with both figures reflecting the seasonal nature of demand in this market. Neither size category delivers year-round consistency, so investors should plan for concentrated booking windows and budget for extended vacancies during slower months.

Average monthly revenue by property size in Iron River

Three-bedroom properties average $2,735 per month compared to $1,657 for two-bedroom listings, representing a 65% revenue advantage that's meaningful when weighed against the incremental cost of acquiring a slightly larger property. For investors targeting cash flow, the three-bedroom configuration is clearly the higher earner in Iron River.

Average annual revenue by property size in Iron River

At $32,824 in average annual revenue, three-bedroom properties outpace two-bedroom units ($19,885) by nearly $13,000 per year. Given Iron River's average home value of $213,310, a well-performing three-bedroom listing offers a more compelling return profile and should be the primary target for revenue-focused investors.

Most common amenities for Airbnb listings in Iron River

Every listed property in Iron River offers a kitchen, and 93% provide parking — both essentials for the rural, self-service nature of stays here. Notably, 57% of listings advertise lake access and 54% feature waterfront positioning, signaling that proximity to water is a key competitive differentiator and guest expectation in this market.

Understanding Iron River's ROI Score: 78/100

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

Iron River's ROI score of 78 out of 100 places it in the Standout Opportunity tier, driven by an above-average revenue-to-price ratio that reflects the market's low acquisition costs relative to earning potential. Occupancy stability scores below average, which is consistent with the deep seasonality visible in the monthly revenue data, so investors should weigh this against their tolerance for uneven cash flow. Pairing these metrics with thorough local regulatory research and a realistic off-season strategy will help determine whether Iron River fits your investment goals.

Short-Term Rental Regulations in Iron River

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

Permit Requirements

Short-term rental operators in Iron River, MI should verify whether the city or Iron County requires STR permits or registration before listing a property. Michigan does not impose a statewide STR permit, so requirements vary by municipality — contacting local planning or zoning offices is the best first step.

Key Restrictions

Common restrictions that may apply in markets like Iron River include occupancy limits, noise ordinances, parking requirements, and minimum-stay rules. Investors should also check for any HOA covenants or deed restrictions that could limit short-term rental activity, especially in lakefront communities.

Tax Obligations

Michigan levies a 6% state use tax on short-term accommodations, and Iron County may impose additional local lodging or excise taxes. Many booking platforms collect and remit these taxes automatically, but hosts should confirm their specific obligations with a local tax professional.

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

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Iron River's short-term rental market is likely to see continued summer-driven demand, with July and August remaining the revenue anchors at $4,000+ per month. ADR may hold steady or inch up 1–3% as the listing count, which grew 111% year-over-year, begins to stabilize and competition finds its equilibrium. Occupancy could face modest downward pressure from new supply, though the market's affordable entry point and outdoor recreation appeal should keep investor interest healthy. Investors should plan for significant off-season softness — particularly in April — and budget accordingly."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Iron River, MI

What is the average Airbnb occupancy rate in Iron River?

The average occupancy rate for Airbnb listings in Iron River is currently 25%, which falls below the Michigan state average of 42%. This lower figure reflects the market's strong seasonality, with summer months driving the bulk of bookings while spring and late fall see notably lighter demand.

How much do Airbnb hosts make in Iron River?

Based on trailing 12-month data, the average Airbnb host in Iron River earns approximately $2,577 per month, or about $30,932 annually. Earnings vary widely by season — July tops the chart at around $4,477, while April dips to roughly $660. Three-bedroom properties tend to earn significantly more, averaging $32,824 per year compared to $19,885 for two-bedroom units.

Is Iron River a good market for Airbnb investment?

Iron River scores 78 out of 100 on Rabbu's ROI Score, placing it in the Standout Opportunity category. The market's biggest advantage is its revenue-to-price ratio — average home values around $213,310 paired with nearly $31,000 in annual revenue make for attractive yield potential. The main trade-off is below-average occupancy, which means cash flow is concentrated in the warmer months. Investors comfortable with seasonal income patterns and low acquisition costs may find this market compelling.

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

The average daily rate in Iron River is $312, which is slightly below the Michigan state average of $350. ADR varies by property size: two-bedroom listings average $206 per night, while three-bedroom properties command $274 per night. These rates are strong for a rural Michigan market, reflecting the premium guests place on lake and recreation access.

Are short-term rentals legal in Iron River?

Short-term rentals generally operate in Iron River, MI, but investors should verify local zoning rules, permit requirements, and any applicable restrictions with the City of Iron River or Iron County officials before purchasing or listing a property. Regulations can change, so staying current with local ordinances is essential.

When is peak season for Airbnb in Iron River?

Peak season in Iron River runs from June through September, with July being the highest-revenue month at an average of $4,477. August follows closely at $4,276, and September rounds out the strong season at $3,249. The slowest period is April, when average revenue drops to just $660, making cash reserves or alternative income strategies important for the shoulder months.

How many Airbnbs are there in Iron River?

As of April 2026, there are 28 active Airbnb listings in Iron River. The market has seen significant growth, with listings increasing 111% year-over-year. The supply is concentrated in two- and three-bedroom properties, with 13 three-bedroom listings and 7 two-bedroom listings making up the tracked inventory.

How is Airbnb revenue calculated in Iron River?

The annual and monthly revenue figures for Iron River 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 remainder up to a market-level historical average. This approach anchors the figures to what hosts have actually earned recently rather than to forecasts, while still naturally reflecting seasonal peaks and slower months because each month uses its own historical performance. Individual results can vary based on property quality, pricing strategy, 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 the Iron River market
• Average daily rate, occupancy, and RevPAN trends by property size
• Monthly and annual revenue estimates based on trailing 12-month booking data
• Popular amenity prevalence across active listings
• Home value benchmarks sourced from 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. Data reflects trailing 12-month historical performance and market conditions may have shifted since the most recent update. Local regulations, HOA rules, and tax obligations vary and should be independently verified before making investment decisions.