6 tracked markets
Source: BNBCalc market metadata · Reviewed by Parker Place, CTO of BNBCalc.com · Data updated July 10, 2026
Tofte is the top Minnesota short-term rental market across Airbnb and Vrbo by gross yield, with 23.2% gross yield, $61,634 in average annual revenue, and 719 active listings.
Top gross yield
23.2%
Tofte
Median gross yield
12.9%
6 markets with yield data
Median annual revenue
$41.8K
Average listing revenue
Tracked markets
6
Statewide market coverage
Filter market rankings
Default rankings show all bedrooms at the average performance tier.
Bedroom count
Performance tier
#1
In Tofte, short-term rental investors can capitalize on a strong 20.8% gross yield and a solid annual revenue of $53,627. While the $345 average daily rate is highly attractive, buyers should note that the market has a lower occupancy rate of 38% across its 687 active listings.
Yield
23.2%
Revenue
$61.6K
Listings
719
#2
The Duluth short-term rental market delivers a solid 16.1% gross yield and a strong annual revenue of $44,905. To succeed among the 510 active listings, investors must optimize their properties to maintain a 35% occupancy rate and capture the $290 average daily rate.
Yield
17.3%
Revenue
$49.5K
Listings
520
#3
The Central Minnesota short-term rental market offers investors a strong 10.2% gross yield and a solid average daily rate of $333 across 957 active listings. However, a low occupancy rate of 27% means buyers must optimize their booking strategies to consistently capture the $32,000 in annual revenue.
Yield
13.0%
Revenue
$41.4K
Listings
990
#4
In Hibbing, short-term rental investors can expect an 11.0% gross yield and a solid average daily rate of $271. However, with 578 active listings and a 30% occupancy rate, buyers must implement smart marketing to maximize their $26,761 in annual revenue potential.
Yield
12.9%
Revenue
$32.2K
Listings
626
#5
Minneapolis presents an active short-term rental market with 2,312 listings generating an average annual revenue of $37,304. Investors can expect an 8.9% gross yield and a 39% occupancy rate, supported by a solid average daily rate of $242 to maximize their returns.
Yield
10.0%
Revenue
$42.2K
Listings
2,339
#6
Rochester offers short-term rental investors a stable 8.7% gross yield and $25,677 in annual revenue, supported by 739 active listings. Although the average daily rate is modest at $187, a 38% occupancy rate provides a consistent foundation for buyers looking to establish a footprint in this mid-sized market.
Yield
9.8%
Revenue
$29.3K
Listings
759
Every market below links to its full BNBCalc market page. Rankings use gross yield first, then annual revenue when yield is missing.
Active listings are Airbnb and Vrbo listings observed as active in the selected market metadata segment. The all-bedrooms view uses all active listings in that market; bedroom filters use the active listing count for the selected bedroom group.
| Rank | Market | Gross yield | Annual revenue | Monthly revenue | ADR | Occupancy | Listings | Purchase price |
|---|---|---|---|---|---|---|---|---|
| #1 | Tofte | 23.2% | $61,634 | $5,136 | $358 | 42% | 719 | $265,947 |
| #2 | Duluth | 17.3% | $49,543 | $4,129 | $285 | 38% | 520 | $286,064 |
| #3 | Central Minnesota | 13.0% | $41,416 | $3,451 | $335 | 32% | 990 | $318,948 |
| #4 | Hibbing | 12.9% | $32,202 | $2,684 | $272 | 33% | 626 | $250,315 |
| #5 | Minneapolis | 10.0% | $42,228 | $3,519 | $228 | 44% | 2,339 | $423,883 |
| #6 | Rochester | 9.8% | $29,285 | $2,440 | $187 | 41% | 759 | $298,662 |
For US markets, BNBCalc ranks state market pages by gross yield: annual Airbnb and Vrbo short-term rental revenue divided by estimated property value. Gross yield is a fast way to compare market-level opportunity before operating expenses, financing, taxes, insurance, seasonality, and local rules.
Annual revenue uses ADR, adjusted occupancy, and estimated cleaning revenue when cleaning and stay data exists.
ADR is nightly-only and excludes cleaning fees and other guest fees.
Occupancy is adjusted occupancy of bookable nights, excluding host-blocked nights.
Gross yield uses annual revenue divided by estimated property value; it does not include operating expenses, financing, taxes, or local regulation risk.