Lake Leelanau, MI Airbnb Market Data, Statistics, and Occupancy Rates

Lake Leelanau Short-Term Rental Market Overview

Lake Leelanau is a niche lakefront market in northern Michigan where a small pool of just 22 active Airbnb listings commands an average daily rate of $339 — nearly in line with the state average. Revenue is intensely seasonal, with hosts earning most of their annual income during the summer months, which helps explain the current 12% occupancy rate outside peak season. With average home values exceeding $1.85 million and annual revenue averaging $45,536, the revenue-to-price ratio presents a challenge, but the market's limited supply and strong summer demand create a distinct opportunity for investors who underwrite conservatively.

Key Market Statistics

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

Data sources: Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Mar, 17 2026.

Why Investors Consider Lake Leelanau

Lake Leelanau attracts investor attention because of its premium lakefront setting, limited supply, and strong summer vacation demand that supports elevated nightly rates.

Expert Market Assessment

"Lake Leelanau presents a competitive but narrowly defined opportunity. The ROI score of 53 out of 100 reflects a below-average revenue-to-price ratio — annual revenue of roughly $45,500 against average home values north of $1.85 million — tempered by above-average occupancy stability and balanced supply-demand dynamics. Seasonality is extreme: July and August account for nearly 44% of total annual revenue, while winter months dip below $1,400. Investors who can source properties below the market average or differentiate with lake access and premium amenities stand the best chance of achieving competitive returns in this high-end vacation market."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Lake Leelanau

Average revenue by month in Lake Leelanau

Revenue in Lake Leelanau follows an extreme seasonal curve, peaking in July at $10,399 and bottoming out in February at just $1,046 — a nearly 10x spread. The core earning window runs from June through September, accounting for the vast majority of annual income, which makes cash-flow planning around off-season months critical for investors.

Active Airbnb listings by property size in Lake Leelanau

The market's 22 active listings are concentrated in just two size categories: 6 three-bedroom and 5 two-bedroom properties. This very limited and narrow supply mix could signal opportunity for investors considering larger or more unique property configurations that aren't currently represented.

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

Three-bedroom listings command $449 per night — a 38% premium over two-bedroom properties at $325. Given the relatively small jump from 2 to 3 bedrooms, the ADR premium on larger units suggests strong guest willingness to pay for additional space in this vacation-oriented market.

Average RevPAN by property size in Lake Leelanau

RevPAN for three-bedroom properties runs nearly double that of two-bedroom units — $71 versus $36. This gap, driven by both higher nightly rates and better occupancy, makes three-bedroom configurations the clear revenue efficiency winner in Lake Leelanau.

Average occupancy rates by property size in Lake Leelanau

Three-bedroom listings maintain a 16% average occupancy rate compared to 11% for two-bedroom properties. While both figures are low on an annual basis due to the market's sharp seasonality, the occupancy edge for larger units translates directly into meaningfully higher revenue.

Average monthly revenue by property size in Lake Leelanau

Three-bedroom properties generate $6,038 per month on average — more than double the $2,832 earned by two-bedroom listings. This sizable gap underscores how the combination of higher ADR and occupancy in the 3-bedroom segment compounds into significantly stronger monthly cash flow.

Average annual revenue by property size in Lake Leelanau

Annual revenue for three-bedroom listings reaches $72,459, more than twice the $33,989 generated by two-bedroom properties. For investors weighing acquisition costs, the three-bedroom configuration offers substantially better top-line potential and should be the primary focus for return-oriented strategies in Lake Leelanau.

Most common amenities for Airbnb listings in Lake Leelanau

Parking (100%), kitchen (91%), and laundry facilities (82–86%) are virtually table stakes in Lake Leelanau, reflecting guest expectations for self-sufficient vacation stays. Outdoor-focused amenities like backyards (82%), BBQ grills (77%), and patio/balcony access (73%) dominate, while lake access and waterfront status — offered by roughly 32% of listings — represent a meaningful differentiator that likely drives premium bookings.

Understanding Lake Leelanau's ROI Score: 53/100

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

Lake Leelanau's ROI score of 53 out of 100 places it in the Competitive Opportunity band, signaling that while investor demand is real, the math requires careful deal sourcing. The below-average revenue-to-price ratio — driven by home values exceeding $1.85 million against roughly $45,500 in annual revenue — is the primary drag, though above-average occupancy stability and balanced supply/demand dynamics offer a foundation for consistent seasonal performance. Pairing this data with thorough local regulatory research and targeting properties with lake access or differentiating amenities can help tilt the equation in an investor's favor.

Short-Term Rental Regulations in Lake Leelanau

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

Permit Requirements

Short-term rental operators in Lake Leelanau, Michigan, should verify whether Leelanau County or the local township requires a specific STR permit, registration, or license before listing a property. Requirements can vary between jurisdictions in Michigan, so investors are encouraged to contact the local zoning or building department directly.

Key Restrictions

Common restrictions in Michigan lake communities may include occupancy limits tied to septic or well capacity, minimum stay requirements, noise ordinances, and parking regulations designed to protect residential neighborhoods. HOA covenants can impose additional limitations, particularly in lakefront developments, so reviewing any deed restrictions before purchasing is essential.

Tax Obligations

Michigan requires short-term rental operators to collect the state's 6% use tax, and many localities impose an additional accommodation or excise tax. Platforms like Airbnb often handle state-level collection automatically, but hosts should confirm whether any county or township-level taxes apply in Leelanau County.

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

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, expect Lake Leelanau's heavily seasonal pattern to persist, with July and August continuing to drive the bulk of annual revenue. ADR could see modest increases of 2–5% if listing supply stays contained, though the 139% year-over-year growth in active listings signals rising investor interest that may tighten margins. Occupancy during shoulder months (May, September, October) may inch upward as northern Michigan gains attention from remote workers and fall color tourism, but winter months will likely remain soft. Investors should budget around the $45,000–$50,000 annual revenue range and stress-test assumptions against high property acquisition costs."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Lake Leelanau, MI

What is the average Airbnb occupancy rate in Lake Leelanau?

The current average occupancy rate for Airbnb listings in Lake Leelanau is 12%, which is well below Michigan's 42% state average. This low annual figure reflects the market's extreme seasonality — occupancy surges during summer and drops significantly in winter. Three-bedroom properties perform better at 16% average occupancy compared to 11% for two-bedroom units.

How much do Airbnb hosts make in Lake Leelanau?

Lake Leelanau Airbnb hosts earn an average of $3,794 per month and approximately $45,536 per year based on the trailing 12-month historical average. However, earnings vary dramatically by season: July averages over $10,399 while February dips to around $1,046. Three-bedroom properties significantly outperform, averaging $6,038/month ($72,459 annually) compared to $2,832/month ($33,989 annually) for two-bedroom listings.

Is Lake Leelanau a good market for Airbnb investment?

Lake Leelanau earns an ROI score of 53 out of 100, placing it in the 'Competitive Opportunity' category. While the market benefits from above-average occupancy stability and balanced supply and demand, the revenue-to-price ratio is below average given home values averaging over $1.85 million. Investors who can acquire properties below the market median or offer differentiated amenities like direct lake access may find attractive returns, but careful underwriting is essential.

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

The average daily rate for Airbnb listings in Lake Leelanau is $339, just slightly below Michigan's $350 state average. Three-bedroom properties command a notable premium at $449 per night, while two-bedroom units average $325. These rates reflect the area's appeal as a premium vacation destination in northern Michigan's wine and lake country.

Are short-term rentals legal in Lake Leelanau?

Short-term rentals operate in Lake Leelanau, as evidenced by 22 active listings in the market. However, local zoning rules, permit requirements, and any township-level regulations can vary. Prospective investors should verify current STR rules with Leelanau County and the applicable township government, as Michigan allows localities to regulate short-term rentals independently.

When is peak season for Airbnb in Lake Leelanau?

Peak season in Lake Leelanau is firmly centered on summer, with July ($10,399 average revenue) and August ($9,544) far outpacing every other month. June ($5,444) and September ($4,758) serve as strong shoulder months. Winter is the slowest period, with February averaging just $1,046 — roughly one-tenth of July's earnings.

How many Airbnbs are there in Lake Leelanau?

There are currently 22 active Airbnb listings in Lake Leelanau as of April 2026. The supply is concentrated among smaller properties, with 6 three-bedroom and 5 two-bedroom listings making up the tracked inventory. Notably, year-over-year listing growth has been substantial at 139%, indicating rising investor interest in this market.

How is Airbnb revenue calculated in Lake Leelanau?

The annual and monthly revenue figures shown for Lake Leelanau are derived from the trailing 12 months of actual 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 data, seasonal peaks like July and slower months like February are naturally reflected. Individual host results can vary meaningfully based on property quality, pricing strategy, amenity offerings such as lake access, 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, occupancy rates, and daily rate data for the Lake Leelanau market
• Historical monthly and annual revenue averages based on trailing 12-month booking performance
• Property size breakdowns for key performance metrics including ADR, occupancy, RevPAN, and revenue
• Amenity prevalence data across active listings to identify guest expectations and competitive advantages
• Home value benchmarks sourced from the Zillow Home Value Index (ZHVI) for investment underwriting context

Sources and disclaimers

Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Mar, 17 2026. Revenue projections are estimates based on comparable properties and do not guarantee future performance. Data reflects trailing 12-month averages and current snapshots; market conditions, regulations, and competitive dynamics can change. Individual property results will vary based on location, amenities, pricing strategy, and operational quality.