Mammoth Lakes, CA
Eastern Sierra ski and hiking - high-altitude year-round demand
Mammoth Mountain is the highest ski resort in California and one of the largest in North America, with a season that often extends into June. The Eastern Sierra location makes Mammoth a 5-6 hour drive from LA - far enough to feel remote, close enough to sustain weekly demand from SoCal. Summer hiking, mountain biking, and June Lake access create genuine dual-season revenue.
Across 70 active STR-viable listings analyzed this month, Mammoth Lakes shows a 1.6% median cap rate at a $999K median list price, 34% occupancy, and $266/night. That ranks #52 of 57 markets in STRROI's live ranking. At typical prices, cash flow is tight: most listings only pencil out with a large down payment, a below-list purchase, or above-market nightly rates.
Mammoth Lakes real estate market right now
As of October 16, 2026, STRROI is tracking 70 homes for sale in Mammoth Lakes that could run as short-term rentals, at a median list price of $999,000. The middle half are priced between $686K and $2.0M. That works out to a median of $683 per square foot for a typical 1,454 square foot home. Homes here have been on the market 132 days on average, longer than the 101 days typical across the 56 markets in STRROI's ranking, which usually leaves more room to negotiate on price. 20 of them were listed in the last 30 days.
These numbers cover the homes for sale STRROI analyzes as potential short-term rentals in Mammoth Lakes, ZIP 93546. They are not every home sale in the area, so they can differ from MLS-wide figures. Month-by-month price history starts Oct 2026 and fills in as the market is re-checked each month.
What's for sale in Mammoth Lakes right now
Of the 70 homes for sale we analyzed in Mammoth Lakes, none project positive monthly cash flow with 20% down at a 7.5% rate, and none rate Buy or better on STRROI's 1-10 scale. 2-bedroom homes are the most common (24 for sale, median $719K). They also post the best median cap rate of any bedroom count, 1.9%, against 0.8% for 4-bedroom homes. By property type, manufactured homes lead at a 4.9% median cap rate across 4 listings.
- Weak: 3
- Avoid: 67
| Beds | For sale | Median price | Cap rate |
|---|---|---|---|
| 1 | 9 | $479K | 1.7% |
| 2 | 24 | $719K | 1.9% |
| 3 | 14 | $1.3M | 1.3% |
| 4 | 13 | $2.6M | 0.8% |
| 5+ | 9 | $2.6M | 1.3% |
| Type | For sale | Median price | Cap rate |
|---|---|---|---|
| Condos | 37 | $739K | 1.8% |
| Single-family homes | 27 | $2.5M | 1.1% |
| Manufactured homes | 4 | $224K | 4.9% |
Top-ranked homes for sale in Mammoth Lakes this month
Scored 1-10 against real Airbnb comps. Addresses, photos and the full underwriting are in the app.
- #1Weak · 4/103 bd · 2 ba manufactured homeZIP 93546 · listed at $220K
- Cap rate
- 5.4%
- Cash flow
- -$246/mo
- Nightly
- $213 at 34%
- #2Weak · 4/103 bd · 2 ba manufactured homeZIP 93546 · listed at $229K
- Cap rate
- 5.2%
- Cash flow
- -$297/mo
- Nightly
- $213 at 34%
- #3Weak · 3/102 bd · 2 ba manufactured homeZIP 93546 · listed at $175K
- Cap rate
- 4.6%
- Cash flow
- -$307/mo
- Nightly
- $165 at 34%
How Mammoth Lakes compares
Mammoth Lakes ranks #5 of 6 West Coast markets in STRROI's live ranking; Napa Valley leads the region with a median cap rate of 5.5%. Its 1.6% cap rate is 1.3 points below the 2.9% median across all 57 ranked markets, and its $999K typical list price is pricier than the West Coast median of $657K.
| Rank | Market | Cap rate | Typical price |
|---|---|---|---|
| #8 | Napa Valley, CA | 5.5% | $675K |
| #18 | Lake Tahoe, CA | 4.0% | $640K |
| #26 | Palm Springs, CA | 3.4% | $575K |
| #44 | Big Bear Lake, CA | 2.2% | $549K |
| #52 | Mammoth Lakes, CA | 1.6% | $999K |
| #54 | San Diego, CA | 1.3% | $2.1M |
Rank is national, by median cap rate across active STR-viable listings. Cash flow uses STRROI's default financing assumptions. See the full ranking
Estimated Annual Performance
* Estimates based on market averages. Individual property performance varies. Always run a full underwriting analysis.
Why Investors Choose Mammoth Lakes
Mammoth Lakes STR investing, answered
Is Mammoth Lakes, CA a good short-term rental market?
Mammoth Lakes is a West Coast STR market with a 1.6% median cap rate, 34% annual occupancy, and $266/night across STR-viable listings, based on 70 active listings. It ranks #52 of 57 markets by median cap rate in STRROI's live ranking. This month none of its 70 homes for sale rate Buy or better.
What is the average Airbnb occupancy rate in Mammoth Lakes?
STR-viable properties in Mammoth Lakes average about 34% occupancy across the year. Peak season is Dec - May (extended ski), July - Aug (summer). Occupancy here reflects availability-adjusted booking performance, not raw calendar occupancy, so it represents what a full-time operated rental can realistically achieve.
How much do short-term rentals earn in Mammoth Lakes?
At $266/night and 34% occupancy, a typical Mammoth Lakes STR grosses roughly $32,816 per year before expenses, leaving an estimated $19,690 in net operating income. Across analyzed listings the median cap rate is 1.6%. Individual results depend on property, amenities, and management.
What types of properties work best for STR in Mammoth Lakes?
Among homes for sale right now, 2-bedroom homes post the strongest median cap rate by size (1.9%), and manufactured homes lead by property type (4.9%). With guests, the best-performing STR types here are Condo, Cabin, Townhouse, Single Family. Matching the local guest profile and the amenities that drive bookings matters more than raw square footage.
How many homes for sale in Mammoth Lakes cash flow as an Airbnb?
0 of 70 STR-viable listings (0%) project positive monthly cash flow after the mortgage, assuming 20% down at a 7.5% rate on a 30-year loan. The top-ranked listing this month is a 3-bedroom manufactured home in ZIP 93546 listed at $220K, projecting a 5.4% cap rate and -$246 a month.
What is the median home price in Mammoth Lakes, CA right now?
The median list price of the 70 homes for sale STRROI tracks in Mammoth Lakes is $999,000, and the middle half are priced between $686K and $2.0M. The median price per square foot is $683. These are homes that could run as short-term rentals, ZIP 93546, not every sale in the area. Against a 1.6% median cap rate, that price level sets the return baseline you'd underwrite against.
How long do homes stay on the market in Mammoth Lakes?
Homes for sale in Mammoth Lakes have been listed 132 days on average, longer than the 101 days typical across the 56 markets in STRROI's ranking, which usually leaves more room to negotiate on price. 20 of them were listed in the last 30 days.
Market averages, not guarantees. Cap rates, occupancy, and nightly rates are market-wide averages based on active STR listings and historical data. Individual property performance depends on location, amenities, management, and listing quality. Always run a full underwriting analysis before purchasing.Stats sourced from 70 active listings · last updated Oct 16, 2026
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