Helena

As of June 2026, Helena, Butte, Great Falls have 694 active Airbnb and VRBO listings. This represents a 8% decrease from the previous year.

The average Airbnb or VRBO in Helena generates $28K per year. High-performing properties earn $51K/year, while low-performing properties earn $12K/year. The substantial revenue spread suggests that market performance is highly polarized, with top-tier listings capturing a disproportionate share of demand despite the overall 34% decline in revenue per listing.

Average home prices in Helena vary by property size: 1-bedroom properties cost approximately $273K, 2-bedroom homes average $344K, 3-bedroom properties are around $458K, and 4+ bedroom homes average $512K. These prices reflect median home values across the Helena, Butte, Great Falls area.

Airbnb and VRBO can be profitable in Helena, with an average gross yield of 7% across all properties. High-performing properties achieve yields up to 12%, which is considered top for short-term rental investment. This yield variance highlights that even with a shrinking supply, the market remains segmented between assets generating standard returns and those optimizing for higher profitability.

The average occupancy rate for Airbnbs and VRBOs in Helena is 34%. This occupancy level, combined with an average nightly rate of $224, results in a RevPAR (revenue per available room) of $49 per day.

4+ bedroom properties demonstrate the strongest performance in Helena, with an average gross yield of 10% and annual revenue of $51K. These properties balance purchase price ($512K), operating costs, and rental demand most effectively in the Helena market.

Short-term rental regulations vary by jurisdiction in the Helena area. Helena: Lenient. Business license required, basic zoning compliance. Minimal active enforcement, hosts operate freely. Butte: Lenient. Business license needed, no owner-occupancy rules. Light enforcement, permissive environment. Great Falls: Lenient. Business license and health inspections for some properties. Minimal restrictions, light enforcement overall. Always verify current regulations with local authorities and obtain necessary permits before operating a short-term rental.

The Helena Airbnb and VRBO market is currently showing balanced conditions. Supply has declined 8% year-over-year, while RevPAR has decreased 34%. This indicates balanced supply-demand dynamics. The concurrent drop in both metrics suggests a contraction in market liquidity, where the reduction in available units has not yet offset the sharper decline in total revenue generation.

Launch around April, 2-3 months before peak summer season (July peaks). This pre-peak timing lets you build reviews when competition is 70% lower than peak months. Avoid launching during peak season when established listings dominate, or slow months (December-January) when gaining traction is harder.

The most common amenities in Helena listings include: Kitchen (91%), Tv (86%), Washing Machine (71%), Heating (69%), Air Conditioning (67%). Amenities that boost revenue the most include Hot Tub, Washing Machine, Bbq, with Hot Tub properties earning approximately 56% more ($62K/year vs $40K/year).

Monthly estimated revenue per listing in Helena over the last 12 months: May: $2K, June: $2K, July: $2K, August: $2K, September: $2K, October: $2K, November: $1K, December: $1K, January: $838, February: $913, March: $1K, April: $1K. 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 Helena is $224, up 20% year-over-year. By property size: 1-bedroom properties average $140/night, 2-bedroom properties average $190/night, 3-bedroom properties average $274/night, 4+ bedroom properties average $441/night. Rates peak in July and are lowest in May.

Guests in Helena book an average of 32 days in advance, down 23% from last year. By property size: 1-bedroom: 28 days, 2-bedroom: 30 days, 3-bedroom: 35 days, 4+ bedroom: 42 days. Larger properties tend to have longer booking windows as guests plan group trips further ahead.

Over the past year, the Helena Airbnb and VRBO market has seen the following changes: supply declined 8%, revenue per listing decreased 34%, occupancy fell 21%, average nightly rates increased 20%, and lead time decreased 23%. These shifts reflect a tightening environment where higher pricing strategies are struggling to compensate for the significant decline in booking volume and guest lead times.

In Helena, Saturday sees the highest booking demand while Monday has the lowest. Nightly rates peak on Friday and are lowest on Wednesday. Weekends show 39% higher occupancy than weekdays.