Nights booked per rental fell in the typical market

From July 2026 to August 2026, nights booked per rental in the typical market fell 7%, from 11.9 to 11.1 nights.

These figures count the same 416,522 rentals across 498 markets in both months. They describe the middle market, not every market.

Nightly prices and booking revenue both came down

The average nightly price in the typical market fell 10%, from $279 to $252 over the same two months.

Monthly booking revenue per rental in the typical market fell 14%, from $3,755 to $3,246 over the same two months. That is what guests paid for stays, before any costs.

Most markets moved the same way

Nights booked per rental fell in 348 markets and rose in 150 markets. Prices were more one-sided: the average nightly price fell in 446 markets and rose in 52 markets. Monthly booking revenue per rental fell in 420 markets and rose in 78 markets.

Among the markets where prices rose, Lubbock, TX had the largest rise: the average nightly price rose 13%, from $199 to $225. Ann Arbor, MI was next, with a 12% rise, from $287 to $322.

Some areas held up while others dropped sharply

Two areas tied for the largest rise in nights booked per rental. The area around Boston, MA saw a 6% rise, from 9.3 to 9.9 nights, and the area around Jackson, WY saw a 6% rise, from 10.0 to 10.6 nights. The area around Seattle, WA followed, with a 5% rise, from 12.6 to 13.2 nights.

The area around Panama City Beach, FL dropped the most. There, nights booked per rental fell 17%, from 12.7 to 10.6 nights, the average nightly price fell 34%, from $618 to $405, and monthly booking revenue per rental fell 46%, from $8,469 to $4,575.

The area around Hot Springs National Park, AR came next, with a 16% drop, from 12.5 to 10.5 nights, followed by the area around Branson, MO, with a 15% drop, from 12.8 to 10.9 nights.

Biggest rises and drops in nights booked per rental

Cheyenne, WY had the largest rise in nights booked per rental: the measure rose 62%, from 11.8 to 19.1 nights across 298 rentals. That is well outside how most markets moved, and a second measure points the same way: monthly booking revenue per rental there rose 38%, from $2,263 to $3,114, also the largest rise in this report.

Lake Placid, NY and Newport, RI were next for nights booked, with a 33% rise, from 6.3 to 8.4 nights and a 31% rise, from 9.0 to 11.8 nights.

Tavernier, FL had the largest drop in nights booked per rental: fell 30%, from 12.5 to 8.8 nights. Jekyll Island, GA and Miramar Beach, FL tied for the next largest drop, with a 29% drop, from 9.3 to 6.6 nights and a 29% drop, from 14.3 to 10.2 nights.

The largest price drops, led by Gulf Coast markets

Orange Beach, AL had the largest drop in average nightly price: the price fell 46%, from $1,124 to $602 across 3,332 rentals. Monthly booking revenue per rental there fell 55%, from $15,047 to $6,731, the largest drop in this report. Next on price was Kapolei, HI, a Hawaii market well away from the Gulf Coast, with a 42% drop, from $1,026 to $594.

Several nearby Gulf Coast markets moved the same way and far further than most markets. In Gulf Breeze, FL, the average nightly price fell 37%, from $734 to $462. Gulf Shores, AL saw a 36% drop, from $556 to $358, and Fort Walton Beach, FL saw a 35% drop, from $562 to $367.

Monthly booking revenue per rental fell sharply in these markets too. In Santa Rosa Beach, FL, monthly booking revenue per rental fell 47%, from $10,371 to $5,522, and in Panama City Beach, FL it fell 47%, from $7,082 to $3,753.

Markets with the biggest changes

Nights booked per rental, same rentals in both months.

Market	July	August	Change
Biggest gains
Cheyenne, WY	11.8 nights	19.1 nights	+62%
Lake Placid, NY	6.3 nights	8.4 nights	+33%
Newport, RI	9.0 nights	11.8 nights	+31%
Newport Beach, CA	7.9 nights	10.2 nights	+29%
Spokane, WA	13.4 nights	17.0 nights	+27%
Biggest drops
Tavernier, FL	12.5 nights	8.8 nights	−30%
Jekyll Island, GA	9.3 nights	6.6 nights	−29%
Miramar Beach, FL	14.3 nights	10.2 nights	−29%
Cape Coral, FL	9.5 nights	6.9 nights	−27%
Cottonwood, AZ	11.0 nights	8.0 nights	−27%

Frequently asked questions

Did nights booked per rental fall everywhere?

No. Nights booked per rental fell in 348 markets and rose in 150 markets out of 498 markets from July 2026 to August 2026.

How much did booking revenue change in the typical market?

Monthly booking revenue per rental in the typical market fell 14%, from $3,755 to $3,246. That is the amount guests paid for stays, not what an owner keeps after costs.

Which market had the biggest rise in nights booked per rental?

Cheyenne, WY, where nights booked per rental rose 62%, from 11.8 to 19.1 nights. Further down the list, Spokane, WA ranked fifth for nights booked, with a 27% rise, from 13.4 to 17.0 nights.

Were there markets where booking revenue per rental rose?

Yes. Monthly booking revenue per rental rose in 78 markets. Besides Cheyenne, WY, Ocean Shores, WA saw a 23% rise, from $3,497 to $4,308 and Anchorage, AK saw a 21% rise, from $3,106 to $3,767.

Do these figures describe my market?

Not necessarily. The headline figures describe the typical market among 498 markets, and individual markets ranged from a 62% rise, from 11.8 to 19.1 nights to a 30% drop, from 12.5 to 8.8 nights in nights booked per rental.

How we measured this

We looked at 416,522 rentals in 498 markets across the US that we tracked closely in both July 2026 and August 2026: rentals whose calendars we checked often enough to see nearly every night of both months. Comparing the same rentals in both months means the changes reflect bookings and prices, not which rentals happened to be counted.

Nights booked per rental is the average number of nights booked in the month. The average nightly price is the typical price of a booked night, and monthly booking revenue per rental is what guests paid for booked nights in the month, before cleaning fees, platform fees and the owner’s costs. The typical market is the middle market when all markets are lined up from lowest to highest. An area is a group of markets within about 60 miles of each other.

We do not report on September 2026 yet: guests are still booking stays in that month, so its numbers are still changing. Figures for August 2026 can also be revised slightly as late bookings are confirmed.

We do not compare with the same months last year yet. Our data collection in mid-2025 was less complete than it is today, so a year-on-year comparison would partly measure that difference. We will add it once a full year of comparable data is available.