Lead, SD Airbnb Market Data, Statistics, and Occupancy Rates

Lead Short-Term Rental Market Overview

Lead, SD sits at the gateway to the Black Hills — a region that draws outdoor enthusiasts, history buffs, and Sturgis Rally traffic every summer. With 338 active Airbnb listings and a market-wide average daily rate of $338, well above the $261 South Dakota state average, the market commands a noticeable pricing premium. Annual revenue averages $45,969 per listing, though a 23% occupancy rate (compared to 43% statewide) signals a heavily seasonal demand pattern that investors should plan around carefully.

Key Market Statistics

According to Rabbu market data, the Lead 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 Lead

Lead attracts investor interest because its Black Hills location supports premium nightly rates during a concentrated but high-revenue summer season, and property configurations that accommodate groups can generate strong returns.

Expert Market Assessment

"Lead presents an attractive but decidedly seasonal opportunity for STR investors. The ROI score of 59 out of 100 reflects average marks across revenue-to-price ratio, occupancy stability, market growth, and supply/demand balance — none exceptionally strong, but none weak enough to be a red flag. Revenue is concentrated heavily between June and August, where monthly averages surge past $5,900 and peak at nearly $8,900 in July, while April and November dip below $1,500. Investors who can weather the off-season comfortably and capitalize on group-friendly, amenity-rich properties stand to benefit from Lead's premium pricing environment."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Lead

Average revenue by month in Lead

Lead displays extreme seasonality, with July ($8,897) and August ($8,485) generating roughly 4–7x the revenue of the slowest months like April ($1,302) and November ($1,474). Investors should expect the summer window from June through August to account for the lion's share of annual income, making cash-reserve planning for the off-season essential.

Active Airbnb listings by property size in Lead

Four-bedroom properties dominate Lead's supply with 108 listings, followed by 5-bedrooms (74) and 3-bedrooms (61), indicating the market clearly skews toward group-friendly accommodations. Smaller 1- and 2-bedroom units are comparatively scarce at 19 and 37 listings respectively, which could present a niche opportunity — though their lower revenue potential warrants careful underwriting.

Average daily rate (ADR) by property size in Lead

ADR climbs steadily with property size in Lead, from $164 for 1-bedroom units to $557 for 6+ bedroom properties — a 3.4x premium. The sharpest jump occurs between 2-bedroom ($179) and 3-bedroom ($270) listings, suggesting that the move to a 3-bedroom configuration captures meaningfully more nightly revenue per additional room.

Average RevPAN by property size in Lead

RevPAN tells a clear story in Lead: 6+ bedroom properties lead decisively at $163, nearly double the $88 earned by 5-bedroom units and more than 4x the $37 for 1-bedrooms. This steep scaling with size, even after factoring in occupancy, underscores that larger group-oriented properties extract the most value per available night in this market.

Average occupancy rates by property size in Lead

Occupancy rates across property sizes in Lead are relatively compressed, ranging from 20% (4-bedrooms) to 29% (6+ bedrooms), with 2-bedrooms also performing well at 27%. The modest spread suggests that size alone doesn't dramatically affect how often a property books — but the combination of higher occupancy and premium ADR makes 6+ bedroom units the clear cash-flow leaders.

Average monthly revenue by property size in Lead

Monthly revenue scales reliably with bedroom count, from $1,509 for 1-bedroom listings to $6,939 for 6+ bedroom properties. The jump from 4-bedrooms ($3,810) to 5-bedrooms ($4,863) and then to 6+ bedrooms ($6,939) shows that each incremental bedroom adds substantial earning power, rewarding investors who target larger configurations.

Average annual revenue by property size in Lead

On an annual basis, 6+ bedroom properties in Lead generate approximately $83,278 — more than 4.5x the $18,112 earned by 1-bedroom units and nearly double the $45,725 from 4-bedrooms. Investors targeting the highest absolute returns should focus on larger properties, though acquisition and operating costs must be weighed against the roughly $58,357 and $83,278 annual ceilings for 5- and 6+ bedroom units respectively.

Most common amenities for Airbnb listings in Lead

Kitchens (99%), parking (96%), BBQ grills (94%), and washer/dryer (93%) are virtually table stakes in Lead's STR market, while hot tubs appear in 86% of listings — an unusually high rate that signals guests expect this as a near-standard amenity. Properties without a hot tub or outdoor grilling area may struggle to compete, and adding differentiators like pet-friendliness (only 14%) or a sauna (7%) could help newer listings stand out.

Understanding Lead's ROI Score: 59/100

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

Lead's ROI score of 59 out of 100 places it in the "Attractive Opportunity" band, reflecting a market where revenue potential and property values are reasonably balanced but not exceptional. All four calculation factors — Revenue-to-Price Ratio, Occupancy Stability, Market Growth Trend, and Supply/Demand Balance — rate as "Average," meaning there's no single standout driver but also no glaring weakness pulling the score down. Investors should pair this score with local regulatory research and a seasonal cash-flow model to determine whether Lead's concentrated summer revenue aligns with their risk tolerance and holding costs.

Short-Term Rental Regulations in Lead

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

Permit Requirements

Short-term rental operators in Lead, South Dakota may need to obtain a local business license or STR permit before listing their property. Investors should verify current requirements directly with the City of Lead and Lawrence County, as regulations in the Black Hills region can vary by jurisdiction.

Key Restrictions

Common restrictions in South Dakota STR markets can include occupancy limits based on property size, noise ordinances, parking requirements, and minimum-stay rules during certain periods. HOA covenants may also impose additional limitations, so reviewing any applicable deed restrictions before purchasing is essential.

Tax Obligations

South Dakota does not levy a state income tax, but STR operators are generally subject to state sales tax and any applicable municipal lodging or tourism taxes. Platforms like Airbnb often collect and remit these taxes on behalf of hosts, though operators should confirm compliance with South Dakota's Department of Revenue.

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

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Lead's STR market is likely to follow its established seasonal rhythm, with summer months (June–August) continuing to drive the bulk of annual revenue. Listing growth has been robust at 119% year-over-year, which could put modest downward pressure on occupancy and ADR if demand doesn't keep pace. Investors should anticipate occupancy hovering in the 20–25% range on an annualized basis, with summer peaks potentially sustaining ADR increases in the 2–4% range as larger properties capture group travel demand. Building a financial model that accounts for lean shoulder and winter months will be critical for realistic return estimates."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Lead, SD

What is the average Airbnb occupancy rate in Lead?

The average Airbnb occupancy rate in Lead is currently 23%, which is notably below the South Dakota state average of 43%. This reflects Lead's heavily seasonal demand profile — summer months drive the vast majority of bookings, while the off-season sees significantly lower activity. Occupancy varies by property size, with 6+ bedroom listings performing best at 29% and 2-bedroom units close behind at 27%.

How much do Airbnb hosts make in Lead?

On average, Airbnb hosts in Lead earn approximately $3,830 per month and $45,969 per year based on trailing 12-month performance data. However, earnings vary substantially by property size: 1-bedroom listings average about $18,112 annually, while 6+ bedroom properties can bring in roughly $83,278 per year. Revenue is also highly seasonal, with July alone averaging $8,897 compared to just $1,302 in April.

Is Lead a good market for Airbnb investment?

Lead earns a Rabbu ROI Score of 59 out of 100, placing it in the "Attractive Opportunity" category. The market benefits from a strong ADR of $338 (well above the state average) and premium pricing on larger properties, but the 23% average occupancy rate means returns are concentrated in peak summer months. Investors targeting group-friendly properties with appealing amenities like hot tubs and BBQ grills are best positioned to maximize revenue in this market.

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

The average daily rate for Airbnb listings in Lead is $338, which is $77 higher than the South Dakota state average of $261. ADR scales significantly with property size — 1-bedroom units average $164 per night, while 6+ bedroom properties command $557 per night. This pricing premium reflects the area's appeal as a vacation destination where groups are willing to pay more for spacious, well-appointed accommodations.

Are short-term rentals legal in Lead?

Short-term rentals are generally permitted in Lead, South Dakota, though operators may need to obtain appropriate business licenses or permits from the city and county. As with many South Dakota communities, specific regulations can vary, so prospective hosts should check directly with the City of Lead and Lawrence County offices to confirm current requirements, zoning restrictions, and any applicable tax obligations before listing a property.

When is peak season for Airbnb in Lead?

Peak season in Lead runs from June through August, with July being the strongest month at an average revenue of $8,897 per listing. August follows closely at $8,485, and June averages $5,906. The shoulder months of September and May still generate moderate revenue ($4,086 and $2,723 respectively), while the slowest months are April ($1,302) and November ($1,474). This pattern reflects the Black Hills region's appeal as a warm-weather outdoor and tourism destination.

How many Airbnbs are there in Lead?

As of April 2026, there are 338 active Airbnb listings in Lead. The market has seen significant growth, with a 119% year-over-year increase in active listings. Four-bedroom properties make up the largest share of supply at 108 listings, followed by 5-bedroom (74) and 3-bedroom (61) properties. Smaller units (1–2 bedrooms) represent a relatively small portion of the market.

How is Airbnb revenue calculated in Lead?

The annual and monthly revenue figures shown for Lead 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 roll the remaining data up into a market-level historical average. This approach anchors the figures to what hosts have actually earned recently, and because each month uses its own historical data, seasonal peaks and slower months are naturally reflected. Individual results can vary based on property quality, pricing strategy, and how actively the listing is managed.

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 Lead, SD market
• Average daily rate, occupancy, and RevPAN metrics benchmarked against state averages
• Monthly and annual revenue breakdowns by property size based on trailing 12-month booking data
• Home value estimates sourced from the Zillow Home Value Index (ZHVI)
• Amenity prevalence data across active listings to inform property setup decisions

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 historical averages as of April 2026 and may not capture very recent market shifts. Local regulations, HOA rules, and tax obligations should be independently verified before making investment decisions.