Short-term rental occupancy is down sharply across the United States this summer, according to the latest data from PriceLabs’ monthly “STR Index.”
Occupancy rates for August 2025 are pacing 10 percent below 2024 levels in every state, while September is down 12 percent nationwide compared to the same time last year. The decline follows a 12 percent year-over-year drop in July, when only four states posted growth: Illinois (+1.7 percent), Arkansas (+1.1 percent), Missouri (+0.9 percent) and West Virginia (+0.1 percent).
Despite softer demand, average daily rates have continued to rise. ADRs grew 2.9 percent in July and are pacing roughly 3 percent higher than last year for August and September…