Steamboat Springs, CO
Colorado's Ski Town USA - authentic mountain STR market
Steamboat Springs markets itself as "Ski Town USA" - home to more Winter Olympians than any other US city - with a genuine Western cattle-town character that distinguishes it from purpose-built resort communities. Champagne powder skiing, hot springs, rodeos, and summer ranching tourism create authentic year-round demand.
Across 139 active STR-viable listings analyzed this month, Steamboat Springs shows a 3.0% median cap rate at a $1.5M median list price, 38% occupancy, and $583/night. That ranks #28 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.
Steamboat Springs real estate market right now
As of October 17, 2026, STRROI is tracking 139 homes for sale in Steamboat Springs that could run as short-term rentals, at a median list price of $1,500,000. The middle half are priced between $720K and $2.7M. That works out to a median of $791 per square foot for a typical 1,890 square foot home. Homes here have been on the market 120 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. 29 of them were listed in the last 30 days.
These numbers cover the homes for sale STRROI analyzes as potential short-term rentals in Steamboat Springs, mainly ZIP 80487. 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 Steamboat Springs right now
Of the 139 homes for sale we analyzed in Steamboat Springs, 9 (6%) 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. 3-bedroom homes are the most common (45 for sale, median $1.3M). Returns are strongest in 1-bedroom homes at a 4.1% median cap rate, and weakest in 5+ bedroom homes at 1.2%. By property type, manufactured homes lead at a 15.7% median cap rate across 8 listings.
- Weak: 20
- Avoid: 119
| Beds | For sale | Median price | Cap rate |
|---|---|---|---|
| 1 | 6 | $441K | 4.1% |
| 2 | 33 | $679K | 3.7% |
| 3 | 45 | $1.3M | 3.2% |
| 4 | 32 | $2.5M | 2.3% |
| 5+ | 23 | $6.3M | 1.2% |
| Type | For sale | Median price | Cap rate |
|---|---|---|---|
| Single-family homes | 41 | $2.6M | 1.7% |
| Townhouses | 41 | $1.2M | 3.0% |
| Condos | 41 | $835K | 3.4% |
| Multi-family | 8 | $2.2M | 3.0% |
| Manufactured homes | 8 | $191K | 15.7% |
Top-ranked homes for sale in Steamboat Springs 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 80487 · listed at $50K
- Cap rate
- 61.8%
- Cash flow
- +$2,295/mo
- Nightly
- $411 at 38%
- #2Weak · 4/103 bd · 1 ba manufactured homeZIP 80487 · listed at $125K
- Cap rate
- 24.7%
- Cash flow
- +$1,876/mo
- Nightly
- $411 at 38%
- #3Weak · 4/103 bd · 2 ba manufactured homeZIP 80487 · listed at $120K
- Cap rate
- 23.0%
- Cash flow
- +$1,633/mo
- Nightly
- $368 at 38%
How Steamboat Springs compares
Steamboat Springs is the top-ranked of the 6 Mountain West markets in STRROI's live ranking, ahead of Moab (2.7% cap rate). Its 3.0% cap rate is 0.1 points above the 2.9% median across all 57 ranked markets, and its $1.5M typical list price is cheaper than the Mountain West median of $2.3M.
| Rank | Market | Cap rate | Typical price |
|---|---|---|---|
| #28 | Steamboat Springs, CO | 3.0% | $1.5M |
| #31 | Moab, UT | 2.7% | $590K |
| #41 | Breckenridge, CO | 2.3% | $1.0M |
| #51 | Jackson Hole, WY | 1.7% | $3.2M |
| #55 | Vail, CO | 0.9% | $3.9M |
| #57 | Park City, UT | 0.4% | $3.1M |
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 Steamboat Springs
Steamboat Springs STR investing, answered
Is Steamboat Springs, CO a good short-term rental market?
Steamboat Springs is a Mountain West STR market with a 3.0% median cap rate, 38% annual occupancy, and $583/night across STR-viable listings, based on 139 active listings. It ranks #28 of 57 markets by median cap rate in STRROI's live ranking. This month none of its 139 homes for sale rate Buy or better.
What is the average Airbnb occupancy rate in Steamboat Springs?
STR-viable properties in Steamboat Springs average about 38% occupancy across the year. Peak season is Dec - Mar (ski), June - 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 Steamboat Springs?
At $583/night and 38% occupancy, a typical Steamboat Springs STR grosses roughly $81,075 per year before expenses, leaving an estimated $48,645 in net operating income. Across analyzed listings the median cap rate is 3.0%. Individual results depend on property, amenities, and management.
What types of properties work best for STR in Steamboat Springs?
Among homes for sale right now, 1-bedroom homes post the strongest median cap rate by size (4.1%), and manufactured homes lead by property type (15.7%). With guests, the best-performing STR types here are Condo, Single Family, Cabin, Townhouse. Matching the local guest profile and the amenities that drive bookings matters more than raw square footage.
How many homes for sale in Steamboat Springs cash flow as an Airbnb?
9 of 139 STR-viable listings (6%) 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 80487 listed at $50K, projecting a 61.8% cap rate and +$2,295 a month.
What is the median home price in Steamboat Springs, CO right now?
The median list price of the 139 homes for sale STRROI tracks in Steamboat Springs is $1,500,000, and the middle half are priced between $720K and $2.7M. The median price per square foot is $791. These are homes that could run as short-term rentals, mainly ZIP 80487, not every sale in the area. Against a 3.0% median cap rate, that price level sets the return baseline you'd underwrite against.
How long do homes stay on the market in Steamboat Springs?
Homes for sale in Steamboat Springs have been listed 120 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. 29 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 139 active listings · last updated Oct 17, 2026
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