Question 1

How many Airbnb and VRBO listings are in Spencer?

Accepted Answer

Over the 12 months ending September 2026, the Spencer market averaged 603 active Airbnb and VRBO listings, up 11% from a year earlier and up 102% over two years.

Question 2

How much do Airbnbs and VRBOs make in Spencer?

Accepted Answer

An average Spencer listing earns $30K/year. High-performing listings earn $68K, while low-performing listings earn $15K.

Question 3

How much does it cost to buy an Airbnb or VRBO property in Spencer?

Accepted Answer

Median Spencer home prices by size are 1-bedroom $169K, 2-bedroom $139K, 3-bedroom $187K, and 4+ bedroom $246K.

Question 4

What is the occupancy rate for Airbnb and VRBO in Spencer?

Accepted Answer

Average occupancy in Spencer is 24%, producing RevPAR of $69 per available night.

Question 5

Are short-term rentals legal in Spencer?

Accepted Answer

Rules vary across Spencer. Spencer: Lenient. No specific STR regulations or permit requirements. Operates under general zoning and business license rules. Minimal enforcement.
Spirit Lake: Lenient. No dedicated STR ordinance. Standard business license may apply. Resort-oriented community with minimal restrictions or enforcement.
Okoboji: Lenient. No specific STR regulations. Tourist destination with traditional vacation rental acceptance. Minimal formal requirements or enforcement activity. Verify requirements for the property's jurisdiction.

Question 6

Is the Spencer Airbnb and VRBO market oversaturated?

Accepted Answer

The Spencer Airbnb and VRBO market appears broadly balanced. Supply has grown 11% year-over-year, while RevPAR has increased 29%, showing no clear supply-demand imbalance.

Question 7

When is peak season for Airbnbs and VRBOs in Spencer?

Accepted Answer

RevPAR is highest in July and June; it is lowest in February and March.

Question 8

Which Airbnb and VRBO amenities matter most in Spencer?

Accepted Answer

The most common amenities are Air Conditioning (99%), Internet (98%), Parking (97%). The strongest positive revenue associations are Parking (+46%), Bbq (+40%), Heating (+30%).

Question 9

What is the average nightly rate for Airbnbs and VRBOs in Spencer?

Accepted Answer

Average daily rate in Spencer is $313, up 22% year-over-year. Rates peak in July and are lowest in February.

Question 10

How far in advance do guests book Airbnb and VRBO stays in Spencer?

Accepted Answer

Guests in Spencer book an average of 38 days in advance, up 2% from last year. Booking windows range from 29 days for 1-bedroom listings to 45 days for 4+ bedroom listings.

Question 11

Which days of the week perform best for Airbnbs and VRBOs in Spencer?

Accepted Answer

Booking demand is highest on Saturday and lowest on Tuesday. Nightly rates peak on Saturday and are lowest on Wednesday. Weekend occupancy is 80% higher than weekday occupancy.

Question 12

How is gross yield calculated?

Accepted Answer

For each eligible home, annual room-revenue potential is divided by a ZIP- and bedroom-matched home-value estimate. Groups show the median of those yields. Cleaning income is excluded. Gross yield is before expenses and financing.

Neighborhood	Revenue (potential)	Gross yield
1.West Okoboji Shore and Western Dickinson Countryside	$49.2K 21 listings	13.7% 21 listings
2.Central Arnolds Park and Milford Area	$67.7K 44 listings	13.5% 44 listings
3.Spirit Lake and Okoboji Area	$47.6K 48 listings	10.6% 48 listings
4.Eastern Arnolds Park and Eastern Dickinson Countryside	$51.2K 52 listings	10.4% 52 listings