Crested Butte

As of May 2026, Crested Butte, Gunnison, Aspen have 1,695 active Airbnb and VRBO listings. This represents a 4% increase from the previous year.

The average Airbnb or VRBO in Crested Butte generates $43K per year. High-performing properties earn $77K/year, while low-performing properties earn $23K/year. The substantial variance between top and bottom tiers suggests that revenue is highly sensitive to specific asset positioning within the current 30% occupancy environment.

Average home prices in Crested Butte vary by property size: 1-bedroom properties cost approximately $273K, 2-bedroom homes average $428K, 3-bedroom properties are around $481K, and 4+ bedroom homes average $606K. These prices reflect median home values across the Crested Butte, Gunnison, Aspen area.

Airbnb and VRBO can be profitable in Crested Butte, with an average gross yield of 8% across all properties. High-performing properties achieve yields up to 14%, which is considered top for short-term rental investment. This yield spread highlights how top-tier operators capitalize on market segments that remain resilient despite stagnant supply growth.

The average occupancy rate for Airbnbs and VRBOs in Crested Butte is 30%. This occupancy level, combined with an average nightly rate of $371, results in a RevPAR (revenue per available room) of $85 per day.

2-bedroom properties demonstrate the strongest performance in Crested Butte, with an average gross yield of 9% and annual revenue of $40K. These properties balance purchase price ($428K), operating costs, and rental demand most effectively in the Crested Butte market.

Short-term rental regulations vary by jurisdiction in the Crested Butte area. Crested Butte: Strict. Mandatory license, owner-occupancy required for some zones, density caps in residential areas. Active enforcement with compliance checks and fines. Gunnison: Moderate. Business license required, safety inspections, sales tax collection. Standard enforcement through complaints and audits. Aspen: Strict. Conditional use permit required, owner-occupancy mandate, strict caps on licenses. Very active enforcement with high fines and legal action against violators. Always verify current regulations with local authorities and obtain necessary permits before operating a short-term rental.

The Crested Butte Airbnb and VRBO market is currently showing balanced conditions. Supply has grown 4% year-over-year, while RevPAR has decreased 35%. This indicates balanced supply-demand dynamics. The contraction in RevPAR relative to supply growth signals that demand is not currently absorbing new inventory, leading to tighter competition for bookings.

Launch around December, 2-3 months before peak winter season (March peaks). This pre-peak timing lets you build reviews when competition is 16% 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 Crested Butte listings include: Kitchen (86%), Washing Machine (71%), Tv (67%), Heating (57%), Balcony (56%). Amenities that boost revenue the most include Washing Machine, Internet, Tv, with Washing Machine properties earning approximately 53% more ($72K/year vs $47K/year).

Monthly estimated revenue per listing in Crested Butte over the last 12 months: May: $938, June: $3K, July: $4K, August: $3K, September: $3K, October: $1K, November: $773, December: $3K, January: $3K, February: $4K, March: $5K, April: $616. 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 Crested Butte is $371, up 4% year-over-year. By property size: 1-bedroom properties average $206/night, 2-bedroom properties average $309/night, 3-bedroom properties average $450/night, 4+ bedroom properties average $797/night. Rates peak in March and are lowest in May.

Guests in Crested Butte book an average of 41 days in advance, down 15% from last year. By property size: 1-bedroom: 34 days, 2-bedroom: 39 days, 3-bedroom: 45 days, 4+ bedroom: 51 days. Larger properties tend to have longer booking windows as guests plan group trips further ahead.

Over the past year, the Crested Butte Airbnb and VRBO market has seen the following changes: supply grew 4%, revenue per listing decreased 35%, occupancy fell 21%, average nightly rates increased 4%, and lead time decreased 15%. These shifts reflect a compressed booking window and softening demand, forcing hosts to navigate lower utilization rates.

In Crested Butte, Friday sees the highest booking demand while Tuesday has the lowest. Nightly rates peak on Friday and are lowest on Tuesday. Weekends show 36% higher occupancy than weekdays.