Springfield

As of June 2026, Springfield, Champaign, Bloomington, Peoria have 1,087 active Airbnb and VRBO listings. This represents a 8% decrease from the previous year.

The average Airbnb or VRBO in Springfield generates $28K per year. High-performing properties earn $54K/year, while low-performing properties earn $10K/year. The wide revenue disparity suggests that current demand is highly selective, favoring top-tier listings despite a market-wide revenue contraction of 22%.

Average home prices in Springfield vary by property size: 1-bedroom properties cost approximately $146K, 2-bedroom homes average $108K, 3-bedroom properties are around $174K, and 4+ bedroom homes average $235K. These prices reflect median home values across the Springfield, Champaign, Bloomington, Peoria area.

Airbnb and VRBO can be profitable in Springfield, with an average gross yield of 16% across all properties. High-performing properties achieve yields up to 31%, which is considered top for short-term rental investment. This delta indicates that premium earnings are accessible only to a specific segment capable of capturing higher value.

The average occupancy rate for Airbnbs and VRBOs in Springfield is 36%. This occupancy level, combined with an average nightly rate of $199, results in a RevPAR (revenue per available room) of $51 per day.

2-bedroom properties demonstrate the strongest performance in Springfield, with an average gross yield of 21% and annual revenue of $25K. These properties balance purchase price ($108K), operating costs, and rental demand most effectively in the Springfield market.

Short-term rental regulations vary by jurisdiction in the Springfield area. Springfield: Lenient. No specific STR regulations or licensing requirements. Operates under general business and zoning rules. Minimal enforcement. Champaign: Moderate. License required, occupancy limits, safety inspections. Owner-occupancy required for certain zones. Moderate enforcement with complaints. Bloomington: Moderate. Registration and permit required, occupancy restrictions, safety standards. No density caps. Enforcement through complaints. Peoria: Lenient. Basic business license, zoning compliance. No STR-specific rules or occupancy requirements. Light enforcement. Always verify current regulations with local authorities and obtain necessary permits before operating a short-term rental.

The Springfield Airbnb and VRBO market is currently showing balanced conditions. Supply has declined 8% year-over-year, while RevPAR has decreased 22%. This indicates balanced supply-demand dynamics. The synchronized decline in both supply and revenue suggests that operators are currently adjusting to softer demand rather than aggressive over-expansion.

Launch around May, 2-3 months before peak fall season (August peaks). This pre-peak timing lets you build reviews when competition is 64% 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 Springfield listings include: Air Conditioning (99%), Kitchen (96%), Tv (92%), Washing Machine (83%), Heating (80%). Amenities that boost revenue the most include Hot Tub, Washing Machine, Bbq, with Hot Tub properties earning approximately 58% more ($59K/year vs $37K/year).

Monthly estimated revenue per listing in Springfield over the last 12 months: May: $2K, June: $2K, July: $2K, August: $2K, September: $2K, October: $2K, November: $2K, December: $1K, January: $817, February: $976, March: $2K, April: $2K. 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 Springfield is $199, up 29% year-over-year. By property size: 1-bedroom properties average $112/night, 2-bedroom properties average $160/night, 3-bedroom properties average $231/night, 4+ bedroom properties average $364/night. Rates peak in November and are lowest in January.

Guests in Springfield book an average of 28 days in advance, down 23% from last year. By property size: 1-bedroom: 23 days, 2-bedroom: 28 days, 3-bedroom: 30 days, 4+ bedroom: 33 days. Larger properties tend to have longer booking windows as guests plan group trips further ahead.

Over the past year, the Springfield Airbnb and VRBO market has seen the following changes: supply declined 8%, revenue per listing decreased 22%, occupancy fell 18%, average nightly rates increased 29%, and lead time decreased 23%. These trends illustrate a shift toward shorter booking windows and higher pricing that has not yet offset the impact of lower occupancy.

In Springfield, Friday sees the highest booking demand while Monday has the lowest. Nightly rates peak on Saturday and are lowest on Monday. Weekends show 40% higher occupancy than weekdays.