Paso Robles

As of May 2026, Paso Robles, San Luis Obispo, Morro Bay, Cambria have 1,733 active Airbnb and VRBO listings. This represents a 13% decrease from the previous year.

The average Airbnb or VRBO in Paso Robles generates $66K per year. High-performing properties earn $134K/year, while low-performing properties earn $27K/year. This wide revenue spread highlights a significant performance gap, suggesting that top-tier assets are capturing a disproportionate share of demand despite the overall market experiencing a 14% year-over-year revenue contraction.

Average home prices in Paso Robles vary by property size: 1-bedroom properties cost approximately $543K, 2-bedroom homes average $574K, 3-bedroom properties are around $774K, and 4+ bedroom homes average $996K. These prices reflect median home values across the Paso Robles, San Luis Obispo, Morro Bay, Cambria area.

Airbnb and VRBO can be profitable in Paso Robles, with an average gross yield of 8% across all properties. High-performing properties achieve yields up to 16%, which is considered top for short-term rental investment. The doubling of yield in top performers indicates that market success is heavily reliant on outperforming the average 33% occupancy rate.

The average occupancy rate for Airbnbs and VRBOs in Paso Robles is 33%. This occupancy level, combined with an average nightly rate of $460, results in a RevPAR (revenue per available room) of $127 per day.

4+ bedroom properties demonstrate the strongest performance in Paso Robles, with an average gross yield of 9% and annual revenue of $106K. These properties balance purchase price ($996K), operating costs, and rental demand most effectively in the Paso Robles market.

Short-term rental regulations vary by jurisdiction in the Paso Robles area. Paso Robles: Moderate. TOT certificate required, zoning compliance, 30-day minimum in residential zones. Moderate enforcement with complaint-driven action. San Luis Obispo: Strict. Conditional use permit required, owner-occupancy mandate, density limits by neighborhood. Active enforcement with fines and violations. Morro Bay: Strict. Permit required, owner-occupancy rule, caps on non-owner-occupied STRs. Active enforcement, limited permits available. Cambria: Strict. Permit required, owner-occupancy mandatory, strict density caps. Active enforcement, waiting list for permits. Always verify current regulations with local authorities and obtain necessary permits before operating a short-term rental.

The Paso Robles Airbnb and VRBO market is currently showing balanced conditions. Supply has declined 13% year-over-year, while RevPAR has decreased 14%. This indicates balanced supply-demand dynamics, where the reduction in active listings appears to be tracking closely with the softening in per-unit revenue, stabilizing competitive pressure.

Launch around January, 2-3 months before peak summer season (April peaks). This pre-peak timing lets you build reviews when competition is 46% lower than peak months. Avoid launching during peak season when established listings dominate, or slow months (September-January) when gaining traction is harder.

The most common amenities in Paso Robles listings include: Kitchen (96%), Tv (77%), Washing Machine (76%), Air Conditioning (71%), Balcony (63%). Amenities that boost revenue the most include Pool, Hot Tub, Washing Machine, with Pool properties earning approximately 77% more ($138K/year vs $78K/year).

Monthly estimated revenue per listing in Paso Robles over the last 12 months: May: $4K, June: $4K, July: $5K, August: $4K, September: $3K, October: $3K, November: $4K, December: $4K, January: $2K, February: $3K, March: $4K, April: $5K. 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 Paso Robles is $460, up 21% year-over-year. By property size: 1-bedroom properties average $227/night, 2-bedroom properties average $332/night, 3-bedroom properties average $462/night, 4+ bedroom properties average $861/night. Rates peak in July and are lowest in May.

Guests in Paso Robles book an average of 40 days in advance, down 20% from last year. By property size: 1-bedroom: 32 days, 2-bedroom: 38 days, 3-bedroom: 41 days, 4+ bedroom: 49 days. Larger properties tend to have longer booking windows as guests plan group trips further ahead.

Over the past year, the Paso Robles Airbnb and VRBO market has seen the following changes: supply declined 13%, revenue per listing decreased 14%, occupancy fell 14%, average nightly rates increased 21%, and lead time decreased 20%. These metrics suggest a shift toward shorter booking windows and higher price sensitivity, indicating a market adjusting to lower utilization.

In Paso Robles, Saturday sees the highest booking demand while Tuesday has the lowest. Nightly rates peak on Saturday and are lowest on Tuesday. Weekends show 97% higher occupancy than weekdays.