The Market
Why Red Lodge Is a Two-Season Mountain Rental Market
Cavmir is an Airbnb marketing agency. We build the brand, the direct-booking website and the marketing for short-term rentals in Red Lodge.
Red Lodge is a small city in Carbon County, Montana, built where Rock Creek comes out of the Beartooth Mountains. Broadway runs through the old downtown, and the Red Lodge Area Chamber of Commerce counts more than 23 buildings in town on the National Register of Historic Places. Red Lodge Mountain, the ski area, sits west of town on Ski Run Road, with its main base lodge at 7,433 feet and the summit of Grizzly Peak at 9,416. Bearcreek, an old mining town, is a few miles east, Roberts lies to the north, and the Rock Creek and West Fork roads lead up into the mountains. The city puts Billings, the region's business center, 60 miles north and Yellowstone National Park about 60 miles away, and Billings Logan International Airport is served by six passenger airlines: Alaska, Delta, United, American, Allegiant and Cape Air. The Beartooth Highway also starts in Red Lodge and climbs to 10,947 feet on its way toward Yellowstone, open only from Memorial Day weekend into early October.
Almost everything for rent here is a whole house. In AirROI's Red Lodge data, 99.6 percent of listings are entire homes: 74 percent houses, 15 percent cabins and about 10 percent apartments and condos. Fifty-nine percent of them have three or more bedrooms, 42 percent sleep eight or more, and size is where the money sits. The five-bedroom-and-up tier has a median of $75,000 a year, against $46,500 for four bedrooms, $33,900 for three and about $21,600 to $21,700 for one or two. AirROI's six top earners of the past year all have four to eight bedrooms and charge $805 to $1,131 a night, and the best of them, a five-bedroom log home with a mountain view, took about $230,900, roughly six times the market average. The market splits by where a house sits and who it's built for: big lodges for reunions and ski groups, homes and condos near the ski area, houses a few blocks from Broadway inside the city limits, and cabins up the creek. Each one sells a different trip, and inside the city each one also needs a registration certificate under a cap.
The calendar has two seasons, and summer is the bigger one. In AirROI's twelve months to September 2026, July 2026 earned the most per listing, about $7,400 at 58 percent occupancy and $373 a night, and April 2026 the least, about $1,935 at 23 percent. June through August ran at 52 to 58 percent occupancy, September 2025 still filled about 52 percent of its nights, and December 2025, with the ski area open and the holidays in town, brought in about $4,010 a listing. AirROI counts 97 percent of guests as American, and its top origin cities are regional: Billings first, with about 11 percent of guests, then Bozeman, Missoula, Helena and Sheridan.
What defines Red Lodge is the distance between the middle of the market and the top. AirROI's average listing takes about $37,300 a year at $320 a night and 38.6 percent occupancy, down 3.1 percent on the year while the count of active listings grew 21 percent, to 262; the Montana average is about $40,600 at $370 a night and 44 percent. The median listing charges about $265 a night and fills about 38 percent of its open nights, the top quarter $380 or more and 54 percent or more, and the top tenth $525 or more and 69 percent or more. In a typical month that works out to about $3,170 for the median listing, $5,050 or more for the top quarter and $7,600 or more for the top tenth. The houses at the top have a few things in common: enough beds for a group, a hot tub and a fire, a listing that sells both summer and ski season, and a calendar priced for each. All four can be built on purpose, and building them is marketing work.
Top Attractions & Landmarks
- Red Lodge Mountain's 1,635 skiable acres
- Broadway and the downtown historic district
- The Home of Champions Rodeo (Fourth of July)
- Carbon County Historical Society & Museum
- Red Lodge Ales and Sam's Tap Room
- Red Lodge Mountain Golf Course
- The Christmas Stroll on Broadway (December)
- Bearcreek and the Smith Mine story
Nearby Markets: Cody | Bozeman | Big Sky