Spirit Lake, IA Airbnb Market Data, Statistics, and Occupancy Rates

Spirit Lake Short-Term Rental Market Overview

Spirit Lake, Iowa stands out as a lake-driven vacation rental market where summer demand creates outsized revenue potential relative to property costs. With an average daily rate of $353—well above the $265 Iowa state average—and an ROI score of 64 out of 100, the market offers an attractive entry point for investors willing to navigate its pronounced seasonality. The 77 active Airbnb listings generate an average annual revenue of $50,563, and an above-average revenue-to-price ratio suggests the economics pencil out for well-positioned properties.

Key Market Statistics

According to Rabbu market data, the Spirit Lake 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 Spirit Lake

Spirit Lake's favorable revenue-to-price ratio and concentrated summer tourism make it an appealing option for investors seeking seasonal vacation rental income in a smaller Iowa lake market.

Expert Market Assessment

"Spirit Lake represents an attractive but distinctly seasonal opportunity. July revenues average $15,244—roughly seventeen times the February low of $880—so investors need a financial plan that accounts for months of minimal income. The market's above-average revenue-to-price ratio is a genuine strength, and four-bedroom properties in particular deliver strong annual revenue near $61,374. However, the below-average supply/demand balance and 110% year-over-year listing growth suggest increasing competition, which could compress margins if demand doesn't keep pace."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Spirit Lake

Average revenue by month in Spirit Lake

Spirit Lake shows extreme seasonality: July is the dominant earning month at $15,244, with June ($8,464) and August ($9,800) rounding out a concentrated summer peak. The off-season is stark—February bottoms out at just $880, and November through April all fall below $1,500, meaning roughly 65% of annual revenue is earned in just three months.

Active Airbnb listings by property size in Spirit Lake

Three- and four-bedroom listings make up the bulk of supply with 23 and 24 listings respectively, reflecting the family and group vacation character of this lake market. Five-bedroom properties are notably scarce at just 5 listings, which could represent an opportunity for investors willing to offer larger group accommodations.

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

ADR roughly doubles from one-bedroom ($216) to five-bedroom ($455) properties, with the most pronounced jump occurring between three bedrooms ($284) and four bedrooms ($422). This $138 ADR premium at the four-bedroom level, paired with strong demand for group-sized lake houses, makes that size category particularly interesting from a pricing standpoint.

Average RevPAN by property size in Spirit Lake

Revenue per available night climbs steadily with size, from $49 for one-bedroom units to $139 for five-bedroom properties. The gap between four-bedroom ($100) and five-bedroom ($139) RevPAN is the largest increment in the range, suggesting that the limited supply of larger homes is translating into both higher rates and better fill.

Average occupancy rates by property size in Spirit Lake

Occupancy rates cluster tightly between 21% and 31% across all property sizes, with five-bedroom listings leading at 31% and three-bedrooms trailing at 21%. The narrow spread indicates that seasonality—not property size—is the primary driver of occupancy patterns in Spirit Lake.

Average monthly revenue by property size in Spirit Lake

Four-bedroom listings lead monthly revenue at $5,114, closely followed by five-bedrooms at $5,014 and—perhaps surprisingly—one-bedrooms at $4,558. Two-bedroom properties lag significantly at $2,570 per month, suggesting that the mid-range size category may face stiffer competition or less demand relative to its pricing.

Average annual revenue by property size in Spirit Lake

Four-bedroom properties top the annual revenue chart at $61,374, with five-bedrooms close behind at $60,172 and one-bedrooms delivering a solid $54,698. Two-bedroom listings trail at $30,845 annually, making them the weakest revenue performers—investors targeting Spirit Lake may find the best return potential in larger or boutique one-bedroom configurations.

Most common amenities for Airbnb listings in Spirit Lake

Parking and a full kitchen are near-universal at 97% of listings, while laundry facilities (88%) and self check-in (74%) reflect the self-service expectations of vacation guests. Lake access appears in 51% of listings and waterfront access in 31%, underscoring that proximity to the water is a key differentiator—properties with direct lake access likely hold a competitive advantage in pricing and bookings.

Understanding Spirit Lake's ROI Score: 64/100

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

Spirit Lake's ROI score of 64 out of 100 places it in the 'Attractive Opportunity' band, driven primarily by an above-average revenue-to-price ratio that signals strong income potential relative to acquisition costs. Occupancy stability and market growth trend score as average, while the supply/demand balance registers below average—a flag worth monitoring as listing counts have surged 110% year over year. Investors should pair this score with local regulatory research and a seasonal cash-flow plan before committing capital.

Short-Term Rental Regulations in Spirit Lake

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

Permit Requirements

Spirit Lake, Iowa may require short-term rental operators to obtain a local permit or business registration before listing a property. Investors should verify current permit requirements directly with the City of Spirit Lake and Dickinson County authorities, as rules can evolve.

Key Restrictions

Common restrictions that may apply include occupancy limits based on bedroom count, minimum stay requirements during peak seasons, noise ordinances, off-street parking mandates, and HOA covenants that could restrict or prohibit short-term rentals in certain neighborhoods. Investors purchasing lakefront properties should pay special attention to any waterfront-specific zoning or environmental rules.

Tax Obligations

Short-term rental operators in Iowa are generally required to collect and remit state sales tax and local hotel/motel taxes on bookings. Platforms like Airbnb often handle some or all of this collection automatically, but hosts should confirm their obligations with the Iowa Department of Revenue to ensure full compliance.

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

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Spirit Lake's summer-centric demand cycle is expected to remain the primary revenue engine, with June through August likely accounting for the bulk of annual earnings. ADR could see modest increases in the 2–4% range as listing supply continues to grow (year-over-year listing growth sits at 110%) and operators compete on quality rather than price. Occupancy during shoulder months may tick up slightly if hosts adopt dynamic pricing and minimum-stay strategies, though winter months will likely remain soft with revenues below $1,500. Investors should plan cash reserves around the five-to-six month off-season and treat summer peaks as the core income period."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Spirit Lake, IA

What is the average Airbnb occupancy rate in Spirit Lake?

The average occupancy rate for Airbnb listings in Spirit Lake is currently 23%, which falls below the Iowa state average of 33%. This reflects the market's heavy seasonal concentration—properties fill up during the summer lake season but see limited demand during colder months. Five-bedroom properties lead with the highest occupancy at 31%, while three-bedroom listings are the lowest at 21%.

How much do Airbnb hosts make in Spirit Lake?

On average, Airbnb hosts in Spirit Lake earn approximately $4,213 per month and $50,563 per year based on trailing 12-month booking data. Revenue varies significantly by property size: four-bedroom listings lead at roughly $61,374 annually, while two-bedroom properties average around $30,845. Keep in mind that most of this income is concentrated in the summer months, with July alone averaging over $15,000.

Is Spirit Lake a good market for Airbnb investment?

Spirit Lake earns an ROI score of 64 out of 100 from Rabbu, rated as an 'Attractive Opportunity.' The market benefits from an above-average revenue-to-price ratio, meaning the income potential is strong relative to property acquisition costs. The main considerations are pronounced seasonality—winter months generate minimal revenue—and growing supply, with listing counts up 110% year over year. Investors who plan for the off-season and target larger properties tend to see the best returns.

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

The average daily rate in Spirit Lake is $353, which is 33% higher than the Iowa state average of $265. ADR scales notably with property size: one- and two-bedroom listings average around $216–$217 per night, while four- and five-bedroom properties command $422 and $455, respectively. This premium pricing reflects the desirability of lake vacation properties for groups and families.

Are short-term rentals legal in Spirit Lake?

Short-term rentals are generally permitted in Spirit Lake, Iowa, but operators may need to secure local permits or registrations and comply with applicable zoning regulations. Tax collection obligations also apply. We recommend checking directly with the City of Spirit Lake and Dickinson County for the most current rules, as local regulations can change.

When is peak season for Airbnb in Spirit Lake?

Peak season in Spirit Lake runs from June through August, closely tracking the lake recreation season. July is the clear standout month with average revenue of $15,244 per listing, followed by August at $9,800 and June at $8,464. Revenue drops sharply after September and reaches its lowest point in February at just $880. This makes Spirit Lake one of the more seasonally concentrated markets in Iowa.

How many Airbnbs are there in Spirit Lake?

As of April 2026, there are 77 active Airbnb listings in Spirit Lake. The market has seen significant supply growth, with a 110% year-over-year increase in active listings. Three- and four-bedroom properties dominate the supply with 23 and 24 listings respectively, while five-bedroom homes remain relatively scarce at just 5 listings.

How is Airbnb revenue calculated in Spirit Lake?

The annual and monthly revenue figures shown for Spirit Lake 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 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 because each month uses its own historical performance. Individual results can vary based on property quality, pricing strategy, and how well 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 by market and property size
• Occupancy, average daily rate, and RevPAN trends across property configurations
• Monthly and annual revenue metrics based on trailing 12-month booking performance
• Home value data sourced from the Zillow Home Value Index (ZHVI) for investment analysis
• Data aggregated from multiple providers and proprietary analytics for consistency

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 may not capture very recent market shifts or regulatory changes. Individual property results will vary based on location, condition, amenities, pricing strategy, and management quality.