Bessemer

As of May 2026, Bessemer, Ironwood, Houghton have 1,505 active Airbnb and VRBO listings. This represents a 6% increase from the previous year.

The average Airbnb or VRBO in Bessemer generates $30K per year. High-performing properties earn $61K/year, while low-performing properties earn $16K/year. The substantial revenue spread suggests that market performance is highly segmented, reflecting a disparity in how listings capture current demand.

Average home prices in Bessemer vary by property size: 1-bedroom properties cost approximately $0, 2-bedroom homes average $278K, 3-bedroom properties are around $263K, and 4+ bedroom homes average $126K. These prices reflect median home values across the Bessemer, Ironwood, Houghton area.

Airbnb and VRBO can be profitable in Bessemer, with an average gross yield of 14% across all properties. High-performing properties achieve yields up to 29%, which is considered top for short-term rental investment. This variance highlights a competitive landscape where top-tier assets capture significantly higher returns despite broader market revenue compression.

The average occupancy rate for Airbnbs and VRBOs in Bessemer is 30%. This occupancy level, combined with an average nightly rate of $246, results in a RevPAR (revenue per available room) of $59 per day.

4+ bedroom properties demonstrate the strongest performance in Bessemer, with an average gross yield of 31% and annual revenue of $39K. These properties balance purchase price ($126K), operating costs, and rental demand most effectively in the Bessemer market.

Short-term rental regulations vary by jurisdiction in the Bessemer area. Bessemer, MI: Lenient. No specific STR regulations or permit requirements. Operates under general zoning. Minimal enforcement. Ironwood, MI: Lenient. No dedicated STR ordinance. Standard business license may apply. Light to no enforcement. Houghton, MI: Moderate. Registration required, safety inspections, occupancy limits. Moderate enforcement in residential areas due to university proximity. Always verify current regulations with local authorities and obtain necessary permits before operating a short-term rental.

The Bessemer Airbnb and VRBO market is currently showing balanced conditions. Supply has grown 6% year-over-year, while RevPAR has decreased 21%. This indicates balanced supply-demand dynamics. The contraction in revenue per available listing during a period of supply growth points to softening price power across the local inventory.

Launch around November, 2-3 months before peak summer season (February peaks). This pre-peak timing lets you build reviews when competition is 63% lower than peak months. Avoid launching during peak season when established listings dominate, or slow months (May-April) when gaining traction is harder.

The most common amenities in Bessemer listings include: Kitchen (96%), Tv (80%), Air Conditioning (66%), Washing Machine (66%), Heating (65%). Amenities that boost revenue the most include Hot Tub, Lake Access, Sauna, with Hot Tub properties earning approximately 37% more ($56K/year vs $41K/year).

Monthly estimated revenue per listing in Bessemer over the last 12 months: May: $1K, June: $2K, July: $3K, August: $2K, September: $2K, October: $2K, November: $734, December: $2K, January: $3K, February: $3K, March: $1K, April: $573. These figures are based on RevPAR (revenue per available room) multiplied by the number of days in each month.

The overall average nightly rate in Bessemer is $246, up 14% year-over-year. By property size: 1-bedroom properties average $166/night, 2-bedroom properties average $211/night, 3-bedroom properties average $254/night, 4+ bedroom properties average $368/night. Rates peak in February and are lowest in May.

Guests in Bessemer book an average of 38 days in advance, down 18% from last year. By property size: 1-bedroom: 31 days, 2-bedroom: 35 days, 3-bedroom: 40 days, 4+ bedroom: 44 days. Larger properties tend to have longer booking windows as guests plan group trips further ahead.

Over the past year, the Bessemer Airbnb and VRBO market has seen the following changes: supply grew 6%, revenue per listing decreased 21%, occupancy fell 14%, average nightly rates increased 14%, and lead time decreased 18%. These shifts illustrate a market transitioning toward shorter booking windows and lower utilization, testing the sustainability of rate hikes.

In Bessemer, Saturday sees the highest booking demand while Tuesday has the lowest. Nightly rates peak on Friday and are lowest on Tuesday. Weekends show 62% higher occupancy than weekdays.