Santa Fe, NM Airbnb Market Data, Statistics, and Occupancy Rates

Santa Fe Short-Term Rental Market Overview

Santa Fe's short-term rental market blends artistic and cultural tourism with high-desert appeal, drawing visitors year-round to one of America's most distinctive small cities. With 1,038 active Airbnb listings generating an average annual revenue of $47,183 and an ADR of $246 — nearly in line with the New Mexico state average — the market offers a credible income stream against relatively elevated property values averaging $1,045,856. An ROI score of 62 out of 100 reflects above-average occupancy stability paired with average revenue-to-price ratios, positioning Santa Fe as an attractive but nuanced opportunity for investors who do their homework.

Key Market Statistics

According to Rabbu market data, the Santa Fe 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 Santa Fe

Santa Fe's blend of cultural cachet, above-average occupancy stability, and premium nightly rates for larger homes makes it a compelling market for investors seeking differentiated demand drivers.

Expert Market Assessment

"Santa Fe presents an attractive opportunity for STR investors who can navigate its higher property costs. Seasonality is real but manageable — peak months in July and August generate roughly 2.5 times the revenue of the softest month (February at $2,241), while several shoulder months comfortably exceed $4,000. The market's above-average occupancy stability and balanced supply-demand dynamics, as reflected in its 62/100 ROI score, suggest that well-managed properties can generate reliable income without the extreme feast-or-famine swings seen in purely seasonal markets."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Santa Fe

Average revenue by month in Santa Fe

Revenue peaks sharply in July ($5,605) and August ($5,594), then tapers to a low of $2,241 in February — a roughly 2.5x spread that signals meaningful but manageable seasonality. A strong shoulder season from March through October, with most months exceeding $3,200, helps smooth annual cash flow for Santa Fe hosts.

Active Airbnb listings by property size in Santa Fe

One-bedroom (374) and two-bedroom (355) units account for roughly 70% of Santa Fe's 1,038 active listings, creating a competitive landscape in those categories. Larger configurations — 4-bedroom (59), 5-bedroom (25), and 6+ bedroom (13) — are notably underrepresented, suggesting potential for investors willing to acquire bigger properties to face less direct competition.

Average daily rate (ADR) by property size in Santa Fe

ADR scales steeply with size, rising from $116 for studios to $953 for 6+ bedroom homes — an 8x premium that far outpaces the typical cost multiplier of adding bedrooms. The sharpest jump occurs between 4 bedrooms ($428) and 5 bedrooms ($663), indicating strong willingness among guests to pay a premium for spacious group accommodations in the Santa Fe market.

Average RevPAN by property size in Santa Fe

Revenue per available night climbs dramatically at the upper end, with 6+ bedroom properties delivering $527 in RevPAN — nearly 6x the $86 generated by 2-bedroom listings. Even 4-bedroom homes produce a strong $185 RevPAN, suggesting that larger properties convert their higher ADR into actual booked revenue far more effectively than smaller units.

Average occupancy rates by property size in Santa Fe

Occupancy rates are relatively compressed across most sizes (30–39%), but 4-bedroom homes stand out at 43% and 6+ bedroom properties lead at 55%, suggesting that group-sized accommodations enjoy stronger and more consistent demand. Three-bedroom listings lag at 30%, which may reflect higher competition or pricing friction at that mid-tier size.

Average monthly revenue by property size in Santa Fe

Monthly revenue rises sharply with property size, from $2,171 for studios to $20,623 for 6+ bedroom homes — a nearly 10x differential that makes larger properties the clear revenue leaders. Even the jump from 3-bedroom ($5,793) to 4-bedroom ($7,885) represents a meaningful $2,000+ monthly increase that could justify the additional acquisition cost.

Average annual revenue by property size in Santa Fe

Annual revenue potential ranges from $26,060 for studios to $247,479 for 6+ bedroom properties, with 4-bedroom homes generating $94,624 — a strong middle ground between acquisition cost and income. Investors focused on return maximization should carefully evaluate the 5-bedroom tier ($133,299 annual revenue), which delivers substantial income while still maintaining a manageable property footprint.

Most common amenities for Airbnb listings in Santa Fe

Kitchens (94%) and parking (94%) are virtually mandatory in Santa Fe's STR market, reflecting a guest base that values self-sufficiency and the car-dependent nature of the high desert. Outdoor amenities rank prominently — patios or balconies (75%), outdoor furniture (61%), backyards (57%), and BBQ grills (50%) — signaling that guests expect to enjoy the region's climate, and listings without these features may struggle to compete.

Understanding Santa Fe's ROI Score: 62/100

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

Santa Fe's ROI score of 62 out of 100 lands it in the 'Attractive Opportunity' band, driven primarily by above-average occupancy stability and average marks for revenue-to-price ratio, market growth trend, and supply/demand balance. The average revenue-to-price ratio reflects the market's elevated home values ($1,045,856 average), meaning investors need to be strategic about property selection — particularly targeting larger homes where revenue significantly outpaces the broader market average. Pairing this data with thorough local regulatory research and a clear understanding of seasonal cash-flow patterns will help investors make well-grounded acquisition decisions.

Short-Term Rental Regulations in Santa Fe

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

Permit Requirements

The City of Santa Fe and the State of New Mexico may require short-term rental operators to obtain permits or register their properties before hosting guests. Investors should verify current requirements directly with the Santa Fe city clerk's office and the New Mexico Regulation and Licensing Department before listing a property.

Key Restrictions

Common regulatory considerations in Santa Fe include occupancy limits, minimum-stay requirements, noise and parking restrictions, and potential caps on the number of STR permits issued in certain neighborhoods. Homeowners' association rules can add an additional layer of restriction, so reviewing CC&Rs is essential before purchasing an investment property.

Tax Obligations

Short-term rental hosts in New Mexico are generally subject to gross receipts tax and local lodgers' tax, which are often collected and remitted by platforms like Airbnb on the host's behalf. Investors should confirm current rates and filing obligations with the New Mexico Taxation and Revenue Department.

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

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Santa Fe's strong summer peak — July and August each topped $5,500 in average monthly revenue — should continue to anchor annual performance, while shoulder-season months like March, September, and October already show healthy bookings above $4,200. ADR could see modest increases in the 1–3% range as the market's cultural calendar (galleries, festivals, opera season) continues to attract higher-spending travelers. Occupancy, currently at 37% overall, may tighten slightly as listing growth (114% year-over-year) matures and the market absorbs new supply. Investors targeting larger properties stand to benefit most, given the outsized RevPAN that 4+ bedroom homes command."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Santa Fe, NM

What is the average Airbnb occupancy rate in Santa Fe?

The average Airbnb occupancy rate in Santa Fe is currently 37%, slightly above the New Mexico state average of 36%. Occupancy varies by property size — 6+ bedroom homes lead at 55%, while 3-bedroom properties sit lower at 30%. Investors targeting well-appointed properties with strong amenities and competitive pricing can often outperform the market average.

How much do Airbnb hosts make in Santa Fe?

On average, Airbnb hosts in Santa Fe earn approximately $3,931 per month or $47,183 per year based on trailing 12-month booking data. Earnings scale significantly with property size: studios average around $2,171 monthly, while 5-bedroom homes reach $11,108 and 6+ bedroom listings generate roughly $20,623 per month. Individual results depend on factors like location, property quality, and pricing strategy.

Is Santa Fe a good market for Airbnb investment?

Santa Fe scores 62 out of 100 on Rabbu's ROI Score, placing it in the 'Attractive Opportunity' category. The market benefits from above-average occupancy stability and balanced supply-demand dynamics, though the revenue-to-price ratio is average given home values that average around $1,045,856. Investors who target larger properties — particularly 4+ bedroom homes — may find the strongest return potential, as these configurations command significantly higher nightly rates and revenue per available night.

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

The average daily rate for Airbnb listings in Santa Fe is $246, just below the New Mexico state average of $249. ADR increases sharply with property size, starting at $116 for studios and climbing to $663 for 5-bedroom homes and $953 for 6+ bedroom properties. This premium pricing for larger homes reflects the demand for group and family-friendly accommodations in the market.

Are short-term rentals legal in Santa Fe?

Short-term rentals do operate in Santa Fe, with over 1,038 active Airbnb listings currently in the market. However, the City of Santa Fe and the State of New Mexico may impose permit, registration, and tax requirements on STR operators. Investors should consult local authorities and review any applicable HOA restrictions before purchasing or listing a property to ensure full compliance.

When is peak season for Airbnb in Santa Fe?

Peak season for Airbnb in Santa Fe runs from June through October, with July ($5,605) and August ($5,594) delivering the highest average monthly revenues. September and October remain strong at $4,453 and $4,650 respectively, likely driven by fall cultural events and pleasant weather. The slowest months are January ($2,350) and February ($2,241), though even the off-season generates meaningful income for well-positioned listings.

How many Airbnbs are there in Santa Fe?

Santa Fe currently has 1,038 active Airbnb listings. The market has experienced significant growth, with year-over-year listing counts reaching 114% of prior levels. One-bedroom (374 listings) and two-bedroom (355 listings) properties dominate the supply, while larger homes with 4+ bedrooms represent fewer than 100 total listings — a potential opportunity for investors seeking less competition.

How is Airbnb revenue calculated in Santa Fe?

The annual and monthly revenue figures for Santa Fe 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 into 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, 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 by market and property size
• Average daily rate, occupancy, and RevPAN metrics across multiple property configurations
• Monthly and annual revenue trends based on trailing 12-month historical booking data
• Home value estimates sourced from the Zillow Home Value Index (ZHVI)
• Amenity prevalence data for active listings to identify competitive benchmarks

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 and may not capture very recent market shifts or regulatory changes. Local regulations, HOA rules, and tax obligations vary and should be independently verified before making investment decisions.