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hort-term rental occupancy in the US is declining heading into late summer, making it a challenging time for Airbnb hosts and property managers. According to the latest Short-Term Rental Index from PriceLabs, nationwide occupancy for August is 10% lower than last year's levels, with September pacing even weaker at 12% below 2024.
Despite softer demand, operators are maintaining some pricing power, with average daily rates (ADRs) increasing by 2.9% in July and expected to rise around 3% in both August and September. This suggests that travelers who do book are still willing to pay more for desirable properties.
Labor Day weekend is a bright spot, with demand accelerating in many destinations. Eighteen of 24 tracked markets are seeing more nights booked than last year, led by Branson, Mo., Atlanta, Ocean City, Md., South Lake Tahoe, Calif., and Destin, Fla.
Occupancy rates remain uneven, with Bend, Ore., leading the holiday weekend at 60%, followed by Chicago, Seattle, Atlanta, and Asheville, N.C. At the other end, Naples, Fla., has just 7% of nights booked due to hurricane season, while Las Vegas and Washington, D.C. also lag national averages.
Regional ADR trends are mixed, with the Northeast showing strong pricing resilience, but hosts in weaker markets more likely to discount as last-minute booking patterns intensify. "Economic uncertainty is making some travelers wait longer to decide whether to book," said Richie Khandelwal, president and co-founder of PriceLabs. He added that deal-seekers may find better rates by traveling mid-week, off-season, or in less-saturated markets.
