Top 15 Airbnb Markets in Wisconsin
Published: July 31, 2025
Known for its pristine lakes, rolling countryside, and lively college and pro-sports towns, Wisconsin continues to draw year-round travelers from the Midwest and beyond. From high-yield waterfront retreats to steady, budget-friendly urban rentals, the Badger State offers diverse opportunities for every short-term rental (STR) investment strategy. Based on AirDNA’s proprietary data, these are the top 15 markets—large and small—worth watching in 2024.
What Is AirDNA’s Market Score?
Market Score is AirDNA’s all-in-one metric for evaluating how attractive any location is for Airbnb and Vrbo investing. Each score (0–100) is derived from five underlying pillars:
- Investability
- Rental Demand
- Revenue Growth
- Seasonality
- Regulation
Inside the AirDNA platform, investors can drill down into each pillar for additional insight—for example, to weigh regulation risk against raw revenue potential. Higher scores indicate healthier, more balanced STR markets.
Understanding Markets vs. Submarkets
This ranking features both markets (major cities or counties) and submarkets (smaller towns, lake communities, or neighborhoods). Combining the two surfaces pockets of opportunity that may be hidden when looking only at statewide or metro-level data.
Airbnb Market Overview in Wisconsin
Wisconsin’s STR scene is anchored by big-name draws like Milwaukee, Green Bay, and Wisconsin Dells, but its true secret sauce lies in the lakes—Castle Rock, Geneva, Minocqua, and dozens more—that keep cabins and cottages booked solid from spring through fall. Meanwhile, college hubs such as La Crosse and Appleton deliver reliable, lower-cost entries with year-round demand driven by academics, healthcare, and regional business travel.
This is sample data – view real-time data in the AirDNA platform.
AirDNA's Market Score is updated on a monthly basis to reflect the previous month's data. This ranked list is updated annually. Explore the app to get the most current data.
Top 15 Airbnb Markets in Wisconsin (Ranked by Market Score)
15. Hayward
Market Score: 24.89
Average Annual Revenue: $37,955
Surrounded by the Chequamegon-Nicolet National Forest, Hayward caters to anglers, mountain-bike enthusiasts, and winter snowmobilers. Cabins near the Birkebeiner trail network see strong peak-season rates, while off-season bookings lean on outdoor festivals and small-town events.
14. Green Lake
Market Score: 27.99
Average Annual Revenue: $38,309
Green Lake’s 27-foot-deep waters and historic resorts make it a magnet for family reunions and fishing getaways. Limited shoreline inventory keeps ADRs resilient despite shoulder-season slowdowns.
13. Mercer
Market Score: 28.16
Average Annual Revenue: $28,442
Mercer brands itself as the “Loon Capital of the World.” Rustic cabins and lake homes here benefit from low purchase prices and a steady stream of Northwoods vacationers chasing tranquility and trail access.
12. Wisconsin Dells
Market Score: 33.23
Average Annual Revenue: $49,948
Home to the nation’s highest concentration of waterparks, Wisconsin Dells enjoys exceptional family demand and group-size bookings. Investors should weigh strong ADRs against intense competition and seasonal occupancy swings.
11. Saint Croix
Market Score: 37.23
Average Annual Revenue: $34,307
Just across the river from the Twin Cities, Saint Croix County serves as a weekend escape for urban Minnesotans. Scenic river towns like Hudson and Somerset produce consistent bookings for romantic getaways and festival traffic.
10. Minocqua
Market Score: 39.23
Average Annual Revenue: $40,033
Often dubbed the “Island City,” Minocqua delivers classic Northwoods charm, boating, and snowmobiling. High cabin ADRs offset a short peak season, yielding solid annual revenue for well-located lake properties.
9. Sheboygan
Market Score: 44.65
Average Annual Revenue: $37,794
Set on Lake Michigan, Sheboygan blends maritime heritage with surfing-friendly waves and PGA-level golf at nearby Whistling Straits. Modest home prices create favorable cash-on-cash returns despite moderate seasonality.
8. Door County
Market Score: 48.59
Average Annual Revenue: $57,099
Door County’s cherry orchards, lighthouses, and shoreline villages draw Chicago and Milwaukee vacationers in droves. High nightly rates and limited hotel supply bolster STR performance, though regulations vary by township.
7. Lake Geneva / Alpine Valley
Market Score: 51.10
Average Annual Revenue: $58,417
Located 90 minutes from both Chicago and Milwaukee, Lake Geneva combines lakeside luxury with ski-season demand from Alpine Valley. Investors can capitalize on large-group bookings and wedding traffic, but premium property prices require careful underwriting.
6. Elkhart Lake
Market Score: 52.78
Average Annual Revenue: $40,237
Elkhart Lake punches above its size thanks to Road America Raceway, summer lake recreation, and wine-and-dine tourism. Limited residential inventory often leads to rapid booking lead times and attractive ADRs.
5. Milwaukee
Market Score: 60.56
Average Annual Revenue: $31,073
Wisconsin’s largest city offers year-round demand fed by business travel, festivals (Summerfest), and pro sports. While regulations require vigilance, diverse neighborhoods—from Bay View to the East Side—provide varied price points and guest segments.
4. Green Bay
Market Score: 62.68
Average Annual Revenue: $42,962
Home to the Packers, Green Bay experiences dramatic ADR spikes during NFL season. Outside of football, strong industrial and healthcare sectors smooth occupancy, making this market more balanced than its sports reputation suggests.
3. Castle Rock Lake
Market Score: 65.36
Average Annual Revenue: $47,955
As the state’s fourth-largest lake, Castle Rock delivers boating, sand-bar parties, and ice-fishing—all within a two-hour drive of Madison and Milwaukee. Lakefront properties command premium weekend rates and long summer stays.
2. Appleton
Market Score: 70.86
Average Annual Revenue: $23,237
Part of the Fox Cities, Appleton benefits from a mix of university events, regional business travel, and the nearby Green Bay Packers fan base. Lower home prices and consistent mid-week occupancy create appealing cash-flow dynamics.
1. La Crosse
Market Score: 81.95
Average Annual Revenue: $31,857
Nestled along the Mississippi River, La Crosse tops the list thanks to its blend of university life, healthcare hubs, and outdoor recreation on the bluffs. A relatively low cost of entry, paired with year-round demand, provides one of the most balanced STR opportunities in the state.
Should You Invest in Wisconsin?
Wisconsin’s STR landscape offers something for every investor profile. Coastal-lake destinations such as Door County and Lake Geneva deliver sky-high rates—ideal for equity-rich buyers targeting lifestyle assets. Urban centers like Milwaukee and Green Bay offer steadier, regulation-aware cash flow, while emerging submarkets like La Crosse and Appleton combine affordability with diversified demand drivers.
Coupled with generally favorable state regulations and a robust drive-to travel culture, Wisconsin remains a compelling playground for both first-time hosts and portfolio-scale investors seeking Midwest exposure.
