Waupaca, WI Airbnb Market Data, Statistics, and Occupancy Rates

Waupaca Short-Term Rental Market Overview

Waupaca, WI stands out as a lake-country destination where short-term rental revenue relative to property prices runs above average, earning the market a 62 out of 100 ROI score. With just 37 active Airbnb listings and an average annual revenue of $40,798, competition remains limited while summer demand drives substantial seasonal income. The market's strong revenue-to-price ratio gives investors a meaningful edge, particularly for those who can weather the pronounced off-season dip that comes with a leisure-driven Wisconsin market.

Key Market Statistics

According to Rabbu market data, the Waupaca 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 Waupaca

Waupaca's favorable revenue-to-price ratio and constrained but growing supply make it an appealing market for investors seeking lake-country vacation rental income in central Wisconsin.

Expert Market Assessment

"Waupaca presents an attractive but seasonally concentrated opportunity. July revenue averages $9,395 — nearly nine times the April low of $1,005 — so cash-flow planning around the warm-weather months is essential. With an ROI score of 62 and above-average revenue relative to home prices, the market rewards investors who acquire lake-access or waterfront properties and price aggressively during the June-through-September window. The rapid 161% year-over-year listing growth is the main factor to watch; if supply continues outpacing demand, occupancy — already at 20% overall — could tighten further."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Waupaca

Average revenue by month in Waupaca

Waupaca's revenue cycle is sharply seasonal: July leads at $9,395, while April bottoms out at $1,005 — a nearly 9:1 spread. The June-through-September corridor generates the vast majority of annual income, making summer pricing strategy the single biggest lever for investors.

Active Airbnb listings by property size in Waupaca

Four-bedroom properties dominate supply with 13 of the 37 active listings, followed by 3-bedroom (7) and 2-bedroom (6) homes. The relative scarcity of smaller units could represent an opportunity for investors targeting couples or small groups seeking a more affordable lake getaway.

Average daily rate (ADR) by property size in Waupaca

ADR roughly doubles from 2-bedroom ($167) to 4-bedroom ($346) listings, reflecting the premium families and groups are willing to pay for larger lake properties. The strongest rate jump occurs between 3-bedroom ($235) and 4-bedroom units, suggesting an extra bedroom adds outsized pricing power in this market.

Average RevPAN by property size in Waupaca

Despite commanding the lowest ADR, 2-bedroom listings deliver the highest RevPAN at $53, outperforming 3-bedroom ($46) and 4-bedroom ($38) units thanks to meaningfully higher occupancy. Investors focused on consistent per-night yield may find smaller properties more efficient, even if their headline rates are lower.

Average occupancy rates by property size in Waupaca

Occupancy drops steeply as property size increases: 2-bedroom homes fill 32% of available nights, 3-bedrooms average 20%, and 4-bedrooms just 11%. For larger properties, maximizing high-season bookings is critical since off-season demand thins out considerably.

Average monthly revenue by property size in Waupaca

Monthly revenue is surprisingly close across sizes — 4-bedroom listings earn $3,650, 2-bedrooms bring in $3,353, and 3-bedrooms generate $3,255. The higher ADR of larger properties offsets their lower occupancy, resulting in a relatively flat revenue curve where size alone doesn't guarantee meaningfully more income.

Average annual revenue by property size in Waupaca

Four-bedroom properties edge ahead with $43,811 in average annual revenue, roughly $3,500 more than 2-bedroom listings ($40,245) and about $4,700 above 3-bedroom homes ($39,063). Given the modest revenue spread, investors should weigh acquisition and operating costs carefully — a lower-cost 2-bedroom may actually deliver a stronger net return.

Most common amenities for Airbnb listings in Waupaca

Parking (100%), kitchen (95%), and laundry (89–92%) are table stakes for Waupaca listings, reflecting a self-sufficient vacation-rental guest profile. Lake access (65%) and waterfront location (54%) appear on a majority of listings, underscoring that proximity to water is a core driver of demand — properties without lake features may struggle to compete.

Understanding Waupaca'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

Waupaca's ROI score of 62 out of 100 places it in the 'Attractive Opportunity' band, anchored by an above-average revenue-to-price ratio that suggests strong income potential relative to acquisition costs. Occupancy stability and supply/demand balance score at average levels, while the market growth trend lags — a reflection of the rapid supply increase that could pressure returns if demand doesn't keep pace. Investors should pair this data with thorough local regulatory research and a realistic seasonal cash-flow model before committing.

Short-Term Rental Regulations in Waupaca

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

Permit Requirements

Short-term rental operators in Waupaca, Wisconsin may need to obtain a tourist rooming house license through the state, and the City of Waupaca may require additional local registration or permits. Investors should verify current requirements with both city and Waupaca County officials before listing a property.

Key Restrictions

Common restrictions in Wisconsin STR markets include occupancy limits, noise and parking ordinances, and potential minimum-stay requirements during certain seasons. HOA or lake-association rules can also apply to waterfront properties, so it's important to review any covenants tied to a specific parcel before purchasing.

Tax Obligations

Wisconsin requires short-term rental operators to collect state sales tax and a room tax, which may also include a local municipal room tax in Waupaca. Major platforms like Airbnb typically collect and remit some of these taxes automatically, but hosts should confirm their obligations with the Wisconsin Department of Revenue.

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

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Waupaca's summer-heavy demand cycle is expected to persist, with peak-season months (June through August) likely continuing to generate the bulk of annual revenue. Listing growth has been aggressive — active supply jumped 161% year over year — which could moderate occupancy and ADR gains if demand doesn't keep pace. Investors should anticipate occupancy hovering around 18–22% on an annualized basis, with modest ADR increases of 1–3% possible as the market matures. Pairing strong summer earnings with strategic off-season pricing will be key to maximizing returns."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Waupaca, WI

What is the average Airbnb occupancy rate in Waupaca?

The average occupancy rate for Airbnb listings in Waupaca is currently 20%, which trails the Wisconsin state average of 38%. This reflects the market's strong seasonal character — occupancy climbs considerably during the summer lake season and drops off sharply in winter. Property size matters too: 2-bedroom listings average 32% occupancy, while 4-bedroom homes come in around 11%.

How much do Airbnb hosts make in Waupaca?

On average, Airbnb hosts in Waupaca earn approximately $3,399 per month, translating to about $40,798 in annual revenue based on trailing 12-month historical data. Larger 4-bedroom properties lead the pack at roughly $43,811 per year, while 2-bedroom and 3-bedroom listings generate around $40,245 and $39,063, respectively. Summer months account for the lion's share of that income, with July alone averaging $9,395.

Is Waupaca a good market for Airbnb investment?

Waupaca earns a 62 out of 100 ROI score from Rabbu, placing it in the 'Attractive Opportunity' category. Its strongest asset is an above-average revenue-to-price ratio, meaning the income potential stacks up well against local property costs. Investors should be aware that occupancy is moderate and highly seasonal, and that listing supply has grown rapidly (161% year over year). Those who can maximize summer revenue and manage off-season costs effectively are best positioned to succeed here.

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

The average daily rate in Waupaca is $335, slightly below the Wisconsin state average of $368. ADR scales meaningfully with property size: 2-bedroom listings average $167 per night, 3-bedroom homes come in at $235, and 4-bedroom properties command $346. The premium on larger properties reflects the group and family vacation demand typical of lake destinations.

Are short-term rentals legal in Waupaca?

Short-term rentals are generally permitted in Waupaca, WI, though operators may need to obtain a Wisconsin tourist rooming house license and comply with any local registration requirements. Regulations can change, so prospective investors should check with both the City of Waupaca and Waupaca County for the most current permit, zoning, and licensing requirements before purchasing or listing a property.

When is peak season for Airbnb in Waupaca?

Peak season in Waupaca runs from June through August, driven by lake recreation and summer tourism. July is the clear standout, with average monthly revenue reaching $9,395 — more than nine times the April low of $1,005. Shoulder months like May ($3,388) and September ($4,447) also show solid demand. Winter months from November through March are the softest period, with revenue typically ranging from about $1,000 to $1,300.

How many Airbnbs are there in Waupaca?

As of April 2026, there are 37 active Airbnb listings in Waupaca. The supply skews toward larger properties, with 4-bedroom homes making up the biggest segment at 13 listings, followed by 3-bedroom (7 listings) and 2-bedroom (6 listings). Notably, the market has seen 161% year-over-year growth in active listings, signaling increasing investor interest.

How is Airbnb revenue calculated in Waupaca?

The annual and monthly revenue figures for Waupaca 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. Because each month uses its own historical performance data, the figures naturally capture seasonal peaks and slower periods. Individual results can vary based on property quality, pricing strategy, location within the market, 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 Waupaca market
• Average daily rate, occupancy, and RevPAN trends by property size
• Monthly and annual revenue estimates based on trailing 12-month booking data
• Amenity prevalence across active listings to benchmark guest expectations
• Home value data sourced from Zillow Home Value Index (ZHVI) for investment analysis

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 and may not capture very recent market shifts. Local regulations, HOA rules, and tax obligations can change; investors should verify current requirements before purchasing or listing a property.