Phelps, WI Airbnb Market Data, Statistics, and Occupancy Rates

Phelps Short-Term Rental Market Overview

Phelps, WI is a small Northwoods lake community with just 24 active Airbnb listings and a pronounced summer-driven revenue cycle. Average annual revenue sits at $30,755, with average daily rates of $273—below the Wisconsin state average of $368, but paired with relatively modest competition. The market's ROI score of 55 out of 100 reflects an attractive opportunity where favorable supply/demand dynamics help offset below-average growth trends and moderate occupancy.

Key Market Statistics

According to Rabbu market data, the Phelps 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 Phelps

Phelps appeals to investors seeking affordable entry into a lake-vacation market with limited supply and strong summer demand that can offset quieter shoulder months.

Expert Market Assessment

"Phelps presents a moderate-to-attractive opportunity for investors comfortable with seasonal cash flow. The summer months—especially July at $7,277 and August at $6,326—carry the financial weight of the year, while spring dips as low as $402 in April. An above-average supply/demand balance and reasonable property values work in the market's favor, though the below-average growth trend and 35% average occupancy rate suggest this is best suited for investors who can weather quiet months rather than those seeking year-round consistency."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Phelps

Average revenue by month in Phelps

Phelps shows extreme seasonality, with July ($7,277) and August ($6,326) generating roughly 18x the revenue of the slowest month, April ($402). Winter months like January ($1,736) and February ($1,792) provide a secondary, modest income bump—likely from snowmobile and winter recreation traffic—before a sharp spring dip.

Active Airbnb listings by property size in Phelps

Supply is heavily concentrated in two-bedroom properties (12 listings) with three-bedroom units making up the remaining 6 listings. The absence of one-bedroom, four-bedroom, or larger properties could signal opportunity for investors willing to differentiate with either smaller studio/one-bed units or larger family-sized homes.

Average daily rate (ADR) by property size in Phelps

ADR jumps substantially from $198 for two-bedroom listings to $281 for three-bedroom properties—a 42% premium for adding just one bedroom. Given that three-bedroom units also achieve much higher occupancy, the extra bedroom appears to pay for itself decisively in this market.

Average RevPAN by property size in Phelps

Three-bedroom properties deliver a RevPAN of $136, more than double the $58 earned by two-bedroom listings. This stark gap reflects both higher nightly rates and significantly better occupancy, making three-bedroom configurations the clear revenue-per-night leaders in Phelps.

Average occupancy rates by property size in Phelps

Three-bedroom listings achieve a 48% occupancy rate compared to just 29% for two-bedroom units, a 19-percentage-point gap that has major cash-flow implications. Investors targeting two-bedroom properties should anticipate extended vacancy, particularly outside the summer peak.

Average monthly revenue by property size in Phelps

Three-bedroom properties average $3,798 per month—roughly 69% more than two-bedroom units at $2,249. The revenue difference is driven by both higher nightly rates and nearly double the occupancy, making three-bedroom listings the stronger income generators across the board.

Average annual revenue by property size in Phelps

On an annual basis, three-bedroom properties generate $45,581 versus $26,996 for two-bedroom units, an $18,585 difference that could meaningfully impact return calculations against average home values of $539,810. Investors focused on maximizing revenue-to-price ratios should weigh the incremental acquisition cost of a three-bedroom against this substantial revenue uplift.

Most common amenities for Airbnb listings in Phelps

Parking (100%), kitchen (92%), and BBQ grill (83%) top the amenity list, but the standout insight is that 79% of listings offer lake access and 63% are waterfront—confirming that water proximity is a baseline guest expectation in Phelps. Investors considering non-lakefront properties should be aware they may face a significant competitive disadvantage without this core amenity.

Understanding Phelps's ROI Score: 55/100

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

Phelps's ROI score of 55 out of 100 places it in the 'Attractive Opportunity' band, signaling a market with real upside tempered by some headwinds. The revenue-to-price ratio and occupancy stability both rate as average, while an above-average supply/demand balance—just 24 listings serving lake-vacation demand—works in investors' favor. The below-average market growth trend warrants attention, so pairing this data with on-the-ground regulatory research and a realistic seasonal cash-flow model is strongly recommended.

Short-Term Rental Regulations in Phelps

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

Permit Requirements

Operators in Phelps, Wisconsin should be aware that the state requires tourist rooming house licenses for short-term rentals, and the Town of Phelps or Vilas County may impose additional registration or permit requirements. Investors should verify current rules directly with local authorities and the Wisconsin Department of Agriculture, Trade and Consumer Protection before listing a property.

Key Restrictions

Common restrictions in Wisconsin STR markets include occupancy limits tied to property size, minimum stay requirements during peak seasons, noise and quiet-hour ordinances, and parking limitations. HOA covenants can also limit or prohibit short-term rentals on certain lakefront properties, so reviewing deed restrictions is essential before purchasing.

Tax Obligations

Wisconsin imposes a state sales tax and a room tax on short-term rental income, and Vilas County may levy an additional local room tax. Platforms like Airbnb typically collect and remit some of these taxes on behalf of hosts, but operators should confirm their full obligations with the Wisconsin Department of Revenue.

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

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, expect Phelps to continue following its deeply seasonal pattern, with July and August driving the bulk of annual income. ADR could see modest increases of 1–3% as Wisconsin lake destinations remain popular with Midwestern vacationers, though occupancy is likely to hover in the 33–38% range given the extended off-season. The 235% year-over-year growth in active listings suggests rising investor interest, which could temper per-listing revenue if supply outpaces demand. Investors entering now should budget conservatively for the slower March–April period while planning to capture peak summer returns."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Phelps, WI

What is the average Airbnb occupancy rate in Phelps?

The average occupancy rate for Airbnb listings in Phelps is currently 35%, which sits slightly below the Wisconsin state average of 38%. Occupancy varies significantly by property size—two-bedroom units average 29% while three-bedroom properties reach 48%. The lower overall rate reflects Phelps's strong seasonal pattern, with summer months driving the majority of bookings.

How much do Airbnb hosts make in Phelps?

Airbnb hosts in Phelps earn an average of $2,562 per month or $30,755 per year based on trailing 12-month performance. Revenue varies widely by season and property size: three-bedroom listings average $3,798 per month ($45,581 annually), while two-bedroom properties bring in roughly $2,249 per month ($26,996 annually). July is the strongest month, with average revenue reaching $7,277.

Is Phelps a good market for Airbnb investment?

Phelps earns a Rabbu ROI Score of 55 out of 100, placing it in the 'Attractive Opportunity' category. The market benefits from a favorable supply/demand balance with only 24 active listings and strong summer demand driven by lake recreation. However, investors should plan for significant seasonal variation—spring months like April generate as little as $402—and factor in average home values around $539,810 when evaluating their return potential.

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

The average daily rate in Phelps is $273, which is below the Wisconsin state average of $368. Rates scale notably with property size: two-bedroom listings average $198 per night, while three-bedroom properties command $281. The lower overall ADR relative to the state reflects the rural Northwoods setting, but it also means lower guest price sensitivity during peak summer months.

Are short-term rentals legal in Phelps?

Short-term rentals are generally permitted in Phelps, WI, though operators typically need a Wisconsin tourist rooming house license and may need additional local permits. Regulations can change, so prospective hosts should check with the Town of Phelps, Vilas County, and the Wisconsin Department of Agriculture, Trade and Consumer Protection for the most current requirements before listing a property.

When is peak season for Airbnb in Phelps?

Peak season in Phelps runs from June through August, with July being the clear standout at $7,277 in average monthly revenue. August follows closely at $6,326, and June comes in at $3,361. The off-season stretches from late fall through early spring, with April being the slowest month at just $402 in average revenue. This pattern aligns with the area's popularity as a Northwoods lake destination.

How many Airbnbs are there in Phelps?

As of April 2026, there are 24 active Airbnb listings in Phelps. The supply is concentrated in two property sizes: 12 two-bedroom listings and 6 three-bedroom listings. Year-over-year listing growth has been significant at 235%, suggesting increasing investor interest in this market.

How is Airbnb revenue calculated in Phelps?

The annual and monthly revenue figures for Phelps 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 data. 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, including property size breakdowns
• Average daily rates, occupancy rates, and RevPAN metrics by market and property size
• Monthly and annual revenue trends based on trailing 12-month booking performance
• Home value estimates 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 historical averages and market conditions may have shifted since the reporting period. Local regulations, permit requirements, and tax obligations are subject to change—always verify with local authorities before investing.