Shenandoah, VA Airbnb Market Data, Statistics, and Occupancy Rates

Shenandoah Short-Term Rental Market Overview

Shenandoah, VA earns a Standout Opportunity ROI score of 78 out of 100, driven by an above-average revenue-to-price ratio and healthy market growth. With average home values around $390,718 and annual STR revenue averaging $41,700 across 79 active listings, the market offers an attractive entry point for investors drawn to Virginia's Shenandoah Valley region. Seasonal demand peaks strongly in summer — August alone averages $5,043 per listing — while the outdoor recreation appeal and relatively modest property costs create a compelling yield profile compared to many Virginia markets.

Key Market Statistics

According to Rabbu market data, the Shenandoah 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 Shenandoah

Investors are drawn to Shenandoah for its favorable revenue-to-price ratio, scenic valley appeal, and strong summer demand that can meaningfully offset quieter winter months.

Expert Market Assessment

"Shenandoah presents a strong opportunity for STR investors who understand the seasonal rhythm of a mountain-valley destination. Revenue swings meaningfully between the $2,119 January low and the $5,043 August peak, so cash-flow planning around a roughly 2.4x seasonal spread is essential. The market's 78/100 ROI score reflects genuine strength in revenue relative to property costs and encouraging growth trends, tempered by a supply/demand balance that sits below average as new listings have surged 69% year-over-year. Investors who position with the right property size and amenity mix — particularly 4+ bedroom homes with outdoor features — stand to capture outsized returns in this scenic Virginia market."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Shenandoah

Average revenue by month in Shenandoah

Shenandoah's revenue peaks sharply in summer, with August ($5,043) and July ($4,753) generating more than double the January low of $2,119. Fall shoulder season remains strong through November ($3,719), giving investors roughly eight months of $3,000+ revenue before the quieter winter period.

Active Airbnb listings by property size in Shenandoah

Three-bedroom properties dominate supply with 28 of 79 listings, while 6+ bedroom homes represent just 5 listings — the smallest segment by far. Given that larger properties generate dramatically higher revenue, the limited supply of 4+ bedroom homes could signal an underserved niche with less competition.

Average daily rate (ADR) by property size in Shenandoah

ADR climbs steadily from $212 for 1-bedroom units to $304 for 4-bedroom properties, then jumps sharply to $852 for 6+ bedroom listings. The premium for large group-capable homes is substantial, though investors should weigh the higher acquisition and maintenance costs against this pricing power.

Average RevPAN by property size in Shenandoah

RevPAN tells a clear story: 6+ bedroom properties lead at $228 per available night, nearly double the $117 RevPAN of 4-bedroom units and roughly 3.5x the $60–$66 range for smaller properties. This confirms that larger homes not only command higher rates but also convert enough bookings to deliver meaningfully better yield per night.

Average occupancy rates by property size in Shenandoah

Four-bedroom properties achieve the highest occupancy at 39%, meaningfully above the market average of 29%, while 3-bedroom units lag at just 25%. The relatively strong occupancy for 4-bedroom homes combined with their solid ADR makes them a compelling sweet spot for investors seeking more consistent cash flow.

Average monthly revenue by property size in Shenandoah

Monthly revenue ranges from $2,923 for 1-bedroom listings to $11,176 for 6+ bedroom properties — nearly a 4x difference. The jump from 3-bedroom ($3,118) to 4-bedroom ($4,221) represents a meaningful revenue increase of over $1,100 per month, making the step up in property size particularly worthwhile.

Average annual revenue by property size in Shenandoah

Annual revenue scales from $35,083 for 1-bedroom units to $134,121 for 6+ bedroom properties, with the 4-bedroom category ($50,652) offering arguably the best balance of strong revenue and manageable property scale. The gap between 1–3 bedroom annual revenues is relatively narrow ($35K–$37K), suggesting that going larger is where the real differentiation in returns begins.

Most common amenities for Airbnb listings in Shenandoah

Parking and a kitchen are universal (100%), and outdoor amenities dominate the list — 90% of listings have a BBQ grill, 87% offer outdoor furniture, and 70% feature a hot tub. This signals that guests in Shenandoah expect a full outdoor leisure experience, and any listing without these features is likely at a competitive disadvantage.

Understanding Shenandoah'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

Shenandoah's ROI score of 78/100 places it in the Standout Opportunity band, anchored by an above-average revenue-to-price ratio — the most heavily weighted factor — and above-average market growth trends. Occupancy stability scores as average and supply/demand balance sits below average, reflecting the rapid 69% year-over-year growth in listings that is introducing more competition. Investors should pair this score with local regulatory research and property-level analysis to confirm that the favorable market-wide dynamics translate to their specific investment.

Short-Term Rental Regulations in Shenandoah

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

Permit Requirements

Short-term rental operators in Shenandoah, Virginia may need to obtain permits or register with local authorities before listing a property. Investors should verify current STR permit requirements with Page County and the Town of Shenandoah directly, as regulations can evolve.

Key Restrictions

Common restrictions that may apply include occupancy limits tied to property size, minimum stay requirements, noise ordinances, parking provisions, and HOA or deed restrictions that could limit STR activity. Some Virginia localities also cap the number of STR permits issued, so confirming availability early in the investment process is advisable.

Tax Obligations

Short-term rental hosts in Virginia are typically subject to state and local transient occupancy taxes, and may owe sales tax on rental income. Platforms like Airbnb often collect and remit some of these taxes automatically, but hosts should confirm their full obligation with the Virginia Department of Taxation and local tax offices.

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

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Shenandoah's short-term rental market is expected to continue benefiting from growing interest in nature-based and rural getaway travel. With year-over-year listing growth at 69%, new supply is entering the market quickly, which may temper occupancy gains — we estimate average occupancy holding steady in the 27–31% range while ADRs could see modest increases of 2–5% as hosts refine pricing strategies. Summer months will likely remain the revenue backbone, and investors who target peak-season optimization through larger properties should see the strongest returns. Overall demand fundamentals look encouraging, though the pace of new supply warrants monitoring."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Shenandoah, VA

What is the average Airbnb occupancy rate in Shenandoah?

The average Airbnb occupancy rate in Shenandoah is currently 29%, which sits below Virginia's state average of 34%. Occupancy varies significantly by property size — 4-bedroom listings lead at 39%, while 3-bedroom units see about 25%. This is characteristic of a leisure-driven market where weekend and vacation bookings dominate rather than steady nightly demand.

How much do Airbnb hosts make in Shenandoah?

On average, Airbnb hosts in Shenandoah earn approximately $3,475 per month or $41,700 per year based on trailing 12-month performance data. Revenue varies substantially by property size: 1-bedroom listings average around $35,083 annually, while 6+ bedroom properties can generate approximately $134,121 per year. Peak summer months like August can push monthly revenue above $5,000 for many hosts.

Is Shenandoah a good market for Airbnb investment?

Shenandoah scores 78 out of 100 on Rabbu's ROI Score, placing it in the Standout Opportunity category. The market benefits from an above-average revenue-to-price ratio — average home values near $390,718 paired with $41,700 in average annual revenue. The main considerations are seasonal demand concentration in summer months and rapid listing growth (69% year-over-year), which could increase competition. Investors targeting larger, well-amenitized properties are best positioned to succeed here.

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

The average daily rate for Airbnb listings in Shenandoah is $292, slightly below Virginia's state average of $339. ADR scales considerably with property size — from $212 for 1-bedroom units to $852 for 6+ bedroom properties. This pricing structure means investors in larger homes can command significant premiums, particularly during peak summer and fall foliage seasons.

Are short-term rentals legal in Shenandoah?

Short-term rentals are currently operating in Shenandoah, VA with 79 active Airbnb listings in the market. However, local regulations and permit requirements can change, so investors should verify the latest STR rules with the Town of Shenandoah and Page County before purchasing a property. It's also wise to check any HOA restrictions or deed covenants that might apply to a specific property.

When is peak season for Airbnb in Shenandoah?

Peak season in Shenandoah runs from June through October, with the highest revenue months being August ($5,043 average) and July ($4,753 average). October also performs well at $3,906, likely driven by fall foliage tourism in the Shenandoah Valley. The slowest months are January ($2,119) and February ($2,180), creating a roughly 2.4x spread between peak and off-peak revenue.

How many Airbnbs are there in Shenandoah?

As of April 2026, there are 79 active Airbnb listings in Shenandoah. The market has seen significant growth, with listings increasing 69% year-over-year. The most common property size is 3-bedroom units (28 listings), followed by 2-bedroom (17) and 4-bedroom (12) properties. Notably, there are only 5 listings with 6+ bedrooms, which also happen to be the highest-earning category.

How is Airbnb revenue calculated in Shenandoah?

The annual and monthly revenue figures for Shenandoah 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 aggregate the results 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. 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 Shenandoah, VA market
• Occupancy rates and average daily rate trends by property size and month
• Revenue and yield metrics including RevPAN, monthly revenue, and annual revenue estimates
• Home value data sourced from Zillow Home Value Index for property cost benchmarking
• Data aggregated from multiple providers and proprietary analytics for consistency and accuracy

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. Local regulations, permit requirements, and tax obligations may change; always verify with municipal and county authorities before investing. Individual property results will vary based on location, condition, amenities, pricing strategy, and management quality.