Is Lewistown, Montana Good for Airbnb Investment?

Potentially—Lewistown, Montana combines visitor demand with long-term real estate upside.

• Presents a unique opportunity, largely influenced by its role as a regional hub for central Montana and its proximity to outdoor recreational areas.
• Current market conditions in Lewistown are characterized by relatively stable property values, which are more affordable than in major metropolitan areas.
• Tourism trends, while not as high-volume as national parks, show a steady influx of visitors drawn to hunting, fishing.
• This niche tourism market supports consistent demand for short-term rentals, especially during peak outdoor recreation seasons.
• The investment potential lies in catering to these visitors, offering comfortable and well-equipped accommodations.
• While overall market growth may be slower compared to larger cities, the lower entry costs and consistent, albeit specialized.

$800–$2,200, based on location, season, and property quality.

• Based on available market data and regional analysis, Airbnb properties in Lewistown, Montana typically generate average monthly revenues ranging from $800 to $2,200, with most hosts earning between $1,200 to $1,600 per month during peak seasons.
• Seasonal variations show significant fluctuations, with summer months (June through August) producing the highest earnings due to increased tourism and outdoor recreation activities.
• Spring and fall represent moderate earning periods with monthly averages around $900 to $1,400.
• Key factors affecting earnings include property size and amenities, with entire homes outperforming private rooms by approximately 60-80%, proximity to local attractions such as fishing areas and hunting grounds.
• The relatively small market size in Lewistown means occupancy rates average between 45-65% annually, with peak summer occupancy reaching 70-85% for well-managed properties.
• Additional revenue factors include the town's role as a regional hub for central Montana, seasonal hunting and fishing tourism, and limited hotel inventory which benefits short-term rental demand.

Potentially strong—typical annual ROI is 8–12%.

• Typically generate ROI between 8-12% annually, with payback periods averaging 10-14 years due to the town's smaller tourism market and seasonal demand fluctuations.
• Properties near the Judith River and historic downtown areas perform better, achieving occupancy rates around 45-60% during peak summer months but dropping to 15-25% in winter.
• Average daily rates range from $85-120 for whole properties, with annual gross revenues typically between $12,000-18,000 for a standard 2-3 bedroom home.
• Compared to long-term rentals in Lewistown, which generate steady monthly income of $800-1,200 and provide 6-9% annual returns with minimal vacancy risk.
• The limited tourist infrastructure and remote location make Airbnb investments in Lewistown more suitable for investors seeking diversification rather than primary income sources.

Lewistown, Montana averages 45–55% annual occupancy, with seasonal variation.

• Airbnb occupancy rates in Lewistown, Montana average approximately 45-55% annually, with significant seasonal variation driven by the area's outdoor recreation and hunting activities.
• Peak occupancy occurs during summer months (June-August) at around 65-75%, coinciding with fishing season along the Missouri River and general tourism.
• Winter months typically see the lowest occupancy at 25-35%, with spring showing moderate recovery at 40-50%.
• These rates generally align with Montana's statewide average of 50-60% but fall below national Airbnb averages of 65-70%.
• The town's proximity to outdoor attractions like the Missouri River Breaks and Charles M.
• Russell National Wildlife Refuge helps maintain competitive occupancy during peak seasons, though the limited year-round tourism infrastructure contributes to more pronounced seasonal fluctuations compared to larger Montana destinations like Bozeman or Missoula.

The strongest opportunities balance visitor demand, nightly rates, and acquisition cost.

• The downtown historic district offers the strongest Airbnb potential in Lewistown with its proximity to the Fergus County Courthouse, local restaurants.
• The Judith River area provides excellent investment opportunities due to its scenic location and appeal to outdoor enthusiasts seeking fishing and recreation access.
• The residential neighborhoods near Central Montana Medical Center present steady demand from medical professionals, visiting families, and healthcare workers needing temporary housing.
• The areas surrounding Frank Day Park attract families and sports teams visiting for tournaments and events, offering reliable weekend bookings and moderate pricing power.
• Neighborhoods near the Lewistown Airport capture business travelers and those connecting to regional destinations, providing convenience-driven demand with less seasonal fluctuation.
• The historic Silk Stocking District, with its well-preserved architecture and quiet residential character.
• Properties near the Yogo Inn area benefit from overflow demand when the hotel reaches capacity and attract guests preferring private accommodations while maintaining competitive pricing advantages.

Yes, but only where zoning permits short-term rentals and every required license is current.

• Property owners typically need to obtain a business license and may require conditional use permits depending on zoning classification.
• Occupancy limits generally follow state fire codes, usually allowing 2 people per bedroom plus 2 additional guests, though specific limits can vary by property size and type.
• Owner-occupancy requirements are not consistently enforced, but some residential zones may require the owner to be present during rentals or live on-site for certain permit types.
• Zoning restrictions typically allow STRs in commercial and some mixed-use areas, while residential zones may require special permits or have limitations on the number of rental days per year.
• The registration process involves applying through Fergus County planning department, providing property details, insurance documentation.
• Recent changes around 2022-2023 have included increased scrutiny of STRs in residential neighborhoods.

Tax rates vary by jurisdiction; licensing, inspection, and insurance costs are additional.

• Short-term rentals in Lewistown, Montana are subject to Montana's statewide lodging facility use tax of 3% on gross receipts.
• Fergus County may impose an additional local option tax of up to 3% on lodging accommodations, bringing the potential total lodging tax to 6%.
• Property owners must register their short-term rental as a lodging facility with the Montana Department of Revenue.
• Annual business license fees in Lewistown range from $25-100 depending on the business classification.
• Some properties may need to obtain a conditional use permit from Fergus County, which can cost $200-500 in application and processing fees.
• Fire and safety inspections may be required annually, costing approximately $75-150 per inspection.