Warsaw, IN Airbnb Market Data, Statistics, and Occupancy Rates

Warsaw Short-Term Rental Market Overview

Warsaw, Indiana sits at the heart of Kosciusko County's lake country, and that lakeside appeal drives a distinct seasonal short-term rental market. With just 19 active Airbnb listings and an average annual revenue of $27,154 per property, Warsaw offers a small but growing opportunity — active listings surged 142% year over year. The market's ADR of $184 comes in below Indiana's $290 state average, but comparatively affordable home values near $413K keep the revenue-to-price ratio in a workable range for investors seeking a lake-town niche.

Key Market Statistics

According to Rabbu market data, the Warsaw 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 Warsaw

Warsaw's lake-driven tourism, low listing count, and affordable property prices relative to seasonal revenue make it an appealing niche market for STR investors looking beyond saturated urban destinations.

Expert Market Assessment

"Warsaw presents a moderately attractive opportunity for investors comfortable with a highly seasonal revenue profile. Summer months — particularly July at $4,703 and August at $4,211 — drive the vast majority of annual income, while winter months dip below $1,000. The market's small inventory of 19 listings and rapid growth suggest early-stage dynamics where first movers can establish strong positioning, but the 20% average occupancy rate and below-state-average ADR signal that this is a supplemental-income or vacation-property play rather than a full-time cash-flow machine."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Warsaw

Average revenue by month in Warsaw

Warsaw's revenue curve is sharply seasonal: July leads at $4,703, with June ($3,896) and August ($4,211) forming a robust summer peak, while February bottoms out at just $962. The nearly 5x spread between peak and trough months means investors should plan cash reserves to cover slower winter periods.

Active Airbnb listings by property size in Warsaw

The entire reportable listing inventory consists of 2-bedroom properties (9 listings), suggesting a significant gap in supply for larger homes and studios or 1-bedrooms. Investors considering 3+ bedroom lakefront properties may find an underserved niche with limited direct competition.

Average daily rate (ADR) by property size in Warsaw

Two-bedroom listings — the only size with sufficient data — command an average daily rate of $153, which sits below the market-wide ADR of $184. This gap hints that unlisted larger properties may be pulling the overall average higher, potentially signaling a pricing premium for bigger homes.

Average RevPAN by property size in Warsaw

Two-bedroom properties generate $43 in revenue per available night, slightly above the market-wide RevPAN of $37. This indicates that 2-bedrooms maintain a relatively efficient balance of rate and occupancy compared to the broader market average.

Average occupancy rates by property size in Warsaw

Two-bedroom units achieve a 28% average occupancy rate, noticeably higher than the market-wide 20% average. This suggests smaller properties stay booked more consistently, which can provide steadier — if more modest — cash flow throughout the year.

Average monthly revenue by property size in Warsaw

Two-bedroom properties average $1,783 per month, which trails the overall market average of $2,262. This gap reinforces that larger or more premium properties in Warsaw are likely capturing higher nightly rates and seasonal demand, even if they aren't separately broken out in the data.

Average annual revenue by property size in Warsaw

At $21,405 annually, 2-bedroom properties earn roughly 79% of the market-wide average of $27,154. For investors weighing acquisition cost against returns, the lower purchase price of a 2-bedroom could still make the yield competitive, particularly if the property offers lake access.

Most common amenities for Airbnb listings in Warsaw

Parking and a kitchen are universal at 100% of listings, while lake access (63%) and waterfront positioning (47%) highlight the market's lakeside identity. Self check-in (79%), backyards (74%), and outdoor amenities like grills and patio furniture are near-standard, signaling that guests expect a self-sufficient, outdoor-oriented vacation experience.

Understanding Warsaw'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

Warsaw's ROI Score of 62 out of 100 places it in the "Attractive Opportunity" band, reflecting a market where revenue-to-price ratios, occupancy stability, growth trends, and supply/demand dynamics all register at average levels — no single factor drags the score down, but none breaks out as exceptional either. The rapid 142% listing growth shows rising investor interest, though the seasonal occupancy profile keeps stability scores from reaching higher tiers. Pairing this data with on-the-ground regulatory research and a property-specific cash flow analysis will help determine whether Warsaw's lake-market niche aligns with your investment goals.

Short-Term Rental Regulations in Warsaw

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

Permit Requirements

Short-term rental operators in Warsaw, Indiana may need to obtain a local business license or STR-specific permit before listing their property. Investors should verify current requirements directly with the City of Warsaw and Kosciusko County planning departments, as regulations in smaller Indiana markets can evolve quickly.

Key Restrictions

Common restrictions that may apply include occupancy limits based on bedroom count, noise ordinances, parking requirements for guests, and potential HOA-level prohibitions in certain subdivisions or lakefront communities. Some Indiana municipalities also impose minimum stay requirements or cap the total number of STR permits issued in a given area.

Tax Obligations

Indiana imposes a state sales tax and county innkeeper's tax on short-term rentals, which hosts are typically required to collect and remit. Platforms like Airbnb often handle state-level tax collection automatically, but investors should confirm county-level obligations and any local tourism fees with a tax professional.

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

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Warsaw's STR demand should continue to track strongly with its summer lake season, with peak revenues likely holding in the $3,900–$4,700 monthly range from June through August. Given the 142% year-over-year listing growth, competition is rising quickly, which could moderate occupancy and pricing gains. Investors entering now can expect seasonal occupancy to hover around 20–28% on an annualized basis, though summer months will far exceed that. Modest ADR increases of 2–4% are plausible if new supply doesn't outpace demand growth."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Warsaw, IN

What is the average Airbnb occupancy rate in Warsaw?

The average Airbnb occupancy rate in Warsaw, Indiana is currently 20%, which falls below the Indiana state average of 32%. This reflects the market's pronounced seasonality — summer lake season drives significantly higher occupancy, while cooler months see considerably less demand. Two-bedroom properties, which make up the reportable inventory, average a healthier 28% occupancy.

How much do Airbnb hosts make in Warsaw?

Airbnb hosts in Warsaw earn an average of $2,262 per month and approximately $27,154 per year based on the trailing 12 months of booking data. Revenue varies dramatically by season, ranging from under $1,000 in the winter to over $4,700 in July. Two-bedroom properties specifically average around $21,405 annually.

Is Warsaw a good market for Airbnb investment?

Warsaw earns a Rabbu ROI Score of 62 out of 100, placing it in the 'Attractive Opportunity' range. The market benefits from lake-driven summer tourism, relatively affordable home prices around $413K, and very limited competition with just 19 active listings. However, the strong seasonality and below-average occupancy mean investors should plan for significant revenue swings between peak and off-peak months.

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

The average daily rate for Airbnb listings in Warsaw is $184, which is below Indiana's statewide average of $290. Two-bedroom properties — the primary listing size in the market — average $153 per night. The lower ADR reflects Warsaw's positioning as an affordable lake getaway rather than a premium resort destination.

Are short-term rentals legal in Warsaw?

Short-term rentals operate in Warsaw, Indiana, with 19 active Airbnb listings currently on the market. However, hosts may need to comply with local permitting, zoning, and tax requirements. Investors should consult the City of Warsaw and Kosciusko County authorities for the most current regulations before purchasing or listing a property.

When is peak season for Airbnb in Warsaw?

Peak season in Warsaw runs from June through August, driven by lake tourism and summer recreation. July is the highest-earning month at $4,703 in average revenue, followed closely by August at $4,211 and June at $3,896. The shoulder months of May ($2,475) and September ($2,513) also see meaningful activity, while winter months from December through March are the slowest period.

How many Airbnbs are there in Warsaw?

There are currently 19 active Airbnb listings in Warsaw, Indiana. The market has seen explosive growth recently, with a 142% year-over-year increase in active listings. Despite this surge, the total inventory remains very small, which can benefit well-positioned hosts with less direct competition.

How is Airbnb revenue calculated in Warsaw?

The annual and monthly revenue figures for Warsaw 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. Rabbu averages each comparable listing's actual revenue per available night (RevPAN) by month over the past year, removes regional outliers, and rolls the results up to a market-level historical average. This approach anchors figures to what hosts have actually earned recently, while naturally reflecting seasonal peaks and slower months because each month uses its own historical performance data. Individual results can vary based on property quality, pricing strategy, location within Warsaw, 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 Warsaw and surrounding areas
• Average daily rate, occupancy, and RevPAN trends across property sizes
• Historical monthly and annual revenue data based on trailing 12-month booking performance
• Home value benchmarks sourced from the Zillow Home Value Index (ZHVI)
• Data aggregated from multiple providers and Rabbu proprietary analytics for consistency

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. Local regulations, permitting requirements, and tax obligations can change; investors should verify current rules with Warsaw and Kosciusko County authorities before purchasing. Individual property results will vary based on location, amenities, pricing strategy, and management quality.