Wakefield, MI Airbnb Market Data, Statistics, and Occupancy Rates

Wakefield Short-Term Rental Market Overview

Wakefield, MI stands out as a small but intriguing short-term rental market where favorable property prices create an above-average revenue-to-price ratio. With just 32 active Airbnb listings, average annual revenue of $24,150, and home values around $190,010, investors can achieve meaningful yield in a market that blends winter ski season with summer Upper Peninsula recreation. Occupancy sits at 47%—above Michigan's 42% state average—suggesting steady demand despite the market's seasonal character.

Key Market Statistics

According to Rabbu market data, the Wakefield 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 Wakefield

Wakefield's combination of low property costs, above-average revenue-to-price ratio, and year-round outdoor recreation demand makes it a compelling option for investors seeking yield in a small, seasonal market.

Expert Market Assessment

"Wakefield presents an attractive but clearly seasonal investment opportunity. Revenue swings sharply from highs of $2,965 in August and $2,667 in January down to just $842 in April, so cash-flow planning around these peaks and valleys is essential. The market's ROI score of 58 out of 100 reflects genuine strengths—especially the revenue-to-price ratio—tempered by below-average occupancy stability and modest growth trends. Investors who target larger properties and cater to both ski-season and summer visitors are best positioned to maximize returns here."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Wakefield

Average revenue by month in Wakefield

Wakefield shows a pronounced dual-peak seasonality, with August ($2,965) and January ($2,667) leading the year, while April ($842) marks a deep off-season trough. The roughly 3.5x spread between peak and valley months underscores the importance of budgeting for uneven cash flow throughout the year.

Active Airbnb listings by property size in Wakefield

Two-bedroom properties dominate Wakefield's supply with 13 of the 32 active listings, while 1-bedroom, 3-bedroom, and 4-bedroom units each hold 6–7 listings. The relatively even distribution across larger sizes suggests there may be room for differentiated 4-bedroom offerings that command premium rates without heavy direct competition.

Average daily rate (ADR) by property size in Wakefield

ADR jumps dramatically at the 4-bedroom tier, reaching $420 per night—nearly double the 2-bedroom rate of $255 and well above the 3-bedroom average of $219. This pricing premium makes 4-bedroom properties particularly compelling for investors who can fill them at reasonable occupancy levels.

Average RevPAN by property size in Wakefield

Four-bedroom units deliver the strongest RevPAN at $226, more than double every other category and reflecting both their rate premium and solid 54% occupancy. One- and 2-bedroom units cluster between $92 and $101 in RevPAN, making the gap between standard and large properties the most significant variable in per-night revenue.

Average occupancy rates by property size in Wakefield

One-bedroom listings lead occupancy at 57%, likely benefiting from lower nightly rates that attract budget-conscious visitors, while 2-bedroom units lag at 40%. Four-bedroom properties maintain a healthy 54% occupancy despite their $420 ADR, suggesting strong group demand that supports both rate and fill rate simultaneously.

Average monthly revenue by property size in Wakefield

Monthly revenue rises steadily with property size, from $1,628 for 1-bedroom units to $3,203 for 4-bedroom homes—nearly double the market average. The jump from 3-bedroom ($1,915) to 4-bedroom revenue is especially stark, reinforcing the outsized earning power of larger properties in this market.

Average annual revenue by property size in Wakefield

Four-bedroom properties lead annual revenue at $38,445, roughly 59% above the market-wide average of $24,150 and nearly double the $20,304 earned by 2-bedroom units. Given Wakefield's average home values of $190,010, 4-bedroom configurations offer the clearest path to a compelling revenue-to-price ratio.

Most common amenities for Airbnb listings in Wakefield

Kitchens (100%) and parking (97%) are table stakes in Wakefield, while self check-in (81%) signals a market that largely operates remotely. The presence of ski-in/ski-out access on 38% of listings and hot tubs at 25% highlights the outdoor recreation focus—investors adding these premium amenities to properties that lack them may capture a meaningful competitive edge.

Understanding Wakefield's ROI Score: 58/100

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

Wakefield's ROI score of 58 out of 100 places it in the "Attractive Opportunity" band, driven primarily by an above-average revenue-to-price ratio that reflects how affordable entry costs amplify yield potential. Occupancy stability and market growth trend both score below average, which is consistent with the market's seasonal demand patterns and rapid listing supply growth. Investors should pair this score with local regulatory research and a clear strategy for managing cash flow through off-peak months to get the most realistic picture of returns.

Short-Term Rental Regulations in Wakefield

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

Permit Requirements

Short-term rental operators in Wakefield, Michigan may need to obtain a local permit or register their property with Gogebic County or the city before listing. Investors should verify current requirements directly with the City of Wakefield and the Michigan Department of Licensing and Regulatory Affairs.

Key Restrictions

Common restrictions that may apply include occupancy limits tied to bedroom count, minimum stay requirements, noise and parking rules, and potential HOA covenants—particularly in resort-adjacent areas. Some municipalities in Michigan also impose caps on the number of STR permits issued, so checking local ordinances early in the process is advisable.

Tax Obligations

Michigan levies a 6% state use tax on short-term accommodations, and additional local or county lodging taxes may apply in the Wakefield area. Major booking platforms typically collect and remit state-level taxes on behalf of hosts, but investors should confirm local obligations to ensure full compliance.

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

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Wakefield's dual-season appeal should keep demand relatively steady, though investors should expect continued variability between peak months (August, January) and shoulder periods like April and November. ADR may edge up modestly—perhaps 2–4%—as listing supply grows and operators add premium amenities like hot tubs and saunas. Occupancy is likely to hover in the 45–50% range market-wide, with larger properties capturing a disproportionate share of group bookings during ski and summer seasons. Investors entering the market now benefit from still-affordable acquisition costs, though the 150% year-over-year growth in listings suggests competition is intensifying."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Wakefield, MI

What is the average Airbnb occupancy rate in Wakefield?

The average Airbnb occupancy rate in Wakefield is currently 47%, which is notably above Michigan's statewide average of 42%. Occupancy varies significantly by property size, with 1-bedroom units leading at 57% and 2-bedroom listings trailing at 40%. Seasonal swings also play a role, with winter ski months and peak summer driving higher fill rates.

How much do Airbnb hosts make in Wakefield?

On average, Airbnb hosts in Wakefield earn approximately $2,012 per month or $24,150 per year based on the trailing 12 months of booking data. Earnings vary substantially by property size—4-bedroom listings average $3,203 per month ($38,445 annually), while 1-bedroom units bring in around $1,628 per month. Peak months like August can push individual listings well above these averages.

Is Wakefield a good market for Airbnb investment?

Wakefield earns a Rabbu ROI Score of 58 out of 100, placing it in the "Attractive Opportunity" category. The market's strongest attribute is its above-average revenue-to-price ratio, thanks to affordable home values around $190,010. Occupancy stability and market growth trend score below average, reflecting the seasonal nature of demand and a rapidly growing listing count. Investors who plan for seasonal revenue fluctuations and target larger, amenity-rich properties can find meaningful yield here.

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

The current average daily rate for Airbnb listings in Wakefield is $260, which comes in below Michigan's $350 state average. ADR scales significantly with property size: 1-bedroom units average $162, 2-bedrooms reach $255, 3-bedrooms sit at $219, and 4-bedroom properties command $420 per night. This pricing structure rewards investors who can accommodate larger groups.

Are short-term rentals legal in Wakefield?

Short-term rentals are generally permitted in Wakefield, MI, though operators may need to comply with local permitting or registration requirements. Regulations can change, so prospective investors should contact the City of Wakefield and review any applicable Gogebic County or state-level rules before purchasing or listing a property.

When is peak season for Airbnb in Wakefield?

Wakefield experiences two distinct peak periods. Summer peaks in August with average monthly revenue of $2,965, while the winter ski season drives strong performance in January ($2,667), February ($2,568), and December ($2,433). The slowest month is April at just $842, reflecting the transition between winter and summer seasons. October also performs well at $2,580, likely driven by fall foliage tourism.

How many Airbnbs are there in Wakefield?

As of April 2026, there are 32 active Airbnb listings in Wakefield. The supply is distributed across 6 one-bedroom, 13 two-bedroom, 7 three-bedroom, and 6 four-bedroom properties. Year-over-year listing growth has been significant at 150%, indicating rising investor interest in the market.

How is Airbnb revenue calculated in Wakefield?

The annual and monthly revenue figures shown for Wakefield 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. Because each month uses its own historical performance data, the figures naturally reflect seasonal peaks (like August and January) and slower periods (like April). Individual results can vary meaningfully based on property quality, pricing strategy, amenities offered, 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 Wakefield, MI market
• Average daily rate, occupancy, and RevPAN trends broken down by property size
• Monthly and annual revenue benchmarks based on trailing 12-month booking performance
• Property value estimates sourced from the Zillow Home Value Index (ZHVI)
• Popular amenity prevalence 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 Apr, 27 2026. Revenue projections are estimates based on comparable properties and do not guarantee future performance. Data reflects trailing 12-month averages as of April 2026 and may not capture very recent market shifts. Local regulations, permit requirements, and tax obligations can change—investors should verify current rules with municipal authorities before purchasing.