Airbnb Market Analytics, Statistics and Data in Evanston, Illinois, United States
Last updated: 2025-01-31
Looking to make more money with hosting or rental arbitraging Airbnbs, short-term rentals, vacation rentals in Evanston? AirROI have just the data insights! Over the last twelve months from February 2024 to January 2025, we've uncovered key trends and opportunities that successful hosts are leveraging in Evanston:
How much do Airbnb hosts make on average per month in Evanston?
The short-term rental market in Evanston shows distinct revenue patterns across different property tiers. Our analysis reveals that successful properties combine strategic pricing with quality management to maximize earnings potential. Market data demonstrates clear revenue differentiation among properties:
- Typical properties (median) earn $2,948 per month
- Strong performing properties (top 25%) make $4,681 or more
- Best-in-class properties (top 10%) achieve $7,124+ monthly
- Entry-level properties (bottom 25%) typically earn around $1,365
Revenue Variations by Month
Occupancy Rates Throughout the Year in Evanston
The market in Evanston shows distinct occupancy patterns influenced by seasonal trends and local dynamics. Properties that maintain high guest satisfaction scores and implement strategic pricing consistently achieve stronger occupancy rates. Current market data shows:
- Typical properties (median) maintain 55% occupancy rates
- Strong performing properties (top 25%) achieve 76% or higher
- Best-in-class properties (top 10%) reach 88%+occupancy
- Entry-level properties (bottom 25%) average around 33%
Occupancy Variations by Month
Average Daily Rates Seasonal Trends in Evanston
Daily rates in Evanston vary based on seasonality, property quality, and market dynamics. Properties that effectively balance competitive pricing with strong amenities typically command higher rates. Market analysis shows the following rate structure:
- Typical properties (median) generate $144 per night
- Strong performing properties (top 25%) secure $220 or more
- Best-in-class properties (top 10%) pull in $344+ per night
- Entry-level properties (bottom 25%) earn around $94
Daily Rate Variations by Month
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Seasonality patterns in Evanston
Peak Season (August, June, July)
- Revenue peaks at $5096.56 per month
- Occupancy rates reach 66.79%
- Daily rates average $224.51
Shoulder Season
- Revenue averages $3764.44 per month
- Occupancy maintains 53.21%
- Daily rates hold at $191.83
Low Season (March, February, January)
- Revenue drops to $2464.41 per month
- Occupancy decreases to 36.57%
- Daily rates adjust to $166.00
Is it still profitable to do Airbnb in Evanston in 2025?
Yes! Evanston demonstrates highly seasonal trends requiring strategic adaptation, featuring a healthy occupancy rate of 53% and strong monthly revenue averaging $3764 and With 202 active listings, the market shows established demand while maintaining room for growth. There's also room for profit through rental arbitrage strategies, if you can identify competitively priced properties. To maximize your return on investment, consider employing the following strategies:
Peak Season Strategy
- Implement premium seasonal pricing strategies
- Set longer minimum stay requirements during high-demand periods
- Enforce stricter cancellation policies
Shoulder Season Strategy
- Maintain competitive market-based pricing
- Offer moderate-length stay incentives
- Target a mix of leisure and business travelers with flexible booking terms
- Focus on weekend getaway packages and mid-week business traveler promotions
Low Season Strategy
- Adjust pricing to remain competitive in the market
- Target different guest segments (business travelers, long-term stays, holiday visitors, event attendees, remote workers)
- Create targeted promotional campaigns to drive occupancy
Top Places to Start Airbnb in Evanston
| Area | Why Choose This Area | Key Attractions |
|---|---|---|
| Downtown Evanston | Bustling urban center with a mix of shops, restaurants, and cultural sites. Popular with both business travelers and tourists looking for convenience and amenities. | Evanston Arts Center, The Block Museum of Art, Evanston Public Library, Evanston Farmer's Market, Downtown Evanston shops and cafes |
| Northwestern University | Vibrant area surrounding the prestigious university, attracting students, faculty, and visitors to events and attractions. Great for those seeking an academic and cultural experience. | Northwestern University, Ryan Field, The Dearborn Observatory, Henry Crown Sports Pavilion, Cahn Auditorium |
| South Evanston | Family-friendly neighborhood with parks and local dining options. Ideal for visitors looking for a quiet stay close to local attractions and the beach. | Harbert Park, Evanston Beach, South Boulevard Beach, Local boutiques and cafes, Maitland Field |
| Lakeshore | Scenic lakeside area with beautiful views and recreational activities. Attracts visitors interested in outdoor activities and a serene environment. | Lake Michigan, Lakeshore Park, Beach access, James Park, Biking and walking paths |
| Dempster/Dodge | Diverse and bustling area with various shopping and dining options. Suitable for those looking for convenience and a lively atmosphere. | Shopping plazas, Local cuisine, Evanston Plaza, Lincoln Street Bakery, Evanston Dog Park |
| Main Street | Up-and-coming area known for its eclectic mix of dining, shopping, and entertainment options. Popular with locals and visitors seeking a vibrant experience. | Main Street shops, Local restaurants, Art galleries, Evanston Theatre, Cultural festivals |
| Chandler-Newport | Historic neighborhood with charming architecture and tree-lined streets. Great for those looking for a quieter, residential feel close to parks and schools. | Chandler Park, Newport Park, Historic homes, Community events, Local schools |
| Howard Street Corridor | Culturally diverse area with a variety of ethnic restaurants and shops. Ideal for travelers seeking a unique, multicultural experience. | Ethnic restaurants, Local markets, Howard Street shops, Community art events, Cultural festivals |
Do you need a license for Airbnb in Evanston?
We recommend checking directly with Evanston's local government regarding short-term rental licensing requirements. Current market data shows limited licensing information (0% of listings), making it essential to verify current regulations before starting your Airbnb business.
Top Performing Airbnb Properties in Evanston
Stunning Beach House, Steps from Lake Michigan
Entire Place • 5 bedrooms
Architectural Gem. Short Walk to Downtown/NU/Lake
Entire Place • 4 bedrooms
Evanston Historic Italianate - 4 Blocks to Lake!
Entire Place • 4 bedrooms
Spacious 7-Bedroom Home in Evanston
Entire Place • 6 bedrooms
Oakton Oasis: 5 Bed, 5 Bath, Sleeps 14
Entire Place • 5 bedrooms
Luxury living in prime location
Entire Place • 5 bedrooms
Top Performing Professional Hosts in Evanston
| Host Name | Properties | Grossing Revenue | Stay Reviews | Avg Rating |
|---|---|---|---|---|
| Mihyun (Michelle) | 9 | $629,645 | 667 | 4.96/5.0 |
| Aaron | 3 | $332,632 | 43 | 4.76/5.0 |
| Tedi | 3 | $297,950 | 121 | 5.00/5.0 |
| Toni | 1 | $291,385 | 35 | 4.83/5.0 |
| Faiz | 4 | $235,935 | 251 | 4.67/5.0 |
| Craig | 4 | $226,480 | 289 | 4.83/5.0 |
| Annie | 1 | $201,180 | 38 | 4.97/5.0 |
| Richard | 12 | $189,375 | 861 | 4.60/5.0 |
| Joel | 1 | $173,178 | 19 | 5.00/5.0 |
| 4645416 | 3 | $145,545 | 28 | 4.92/5.0 |
Additional analytics on vacation rental, real estate, short term rental data in Evanston
AirROI also have other key metrics and comprehensive data for your vacation rental, real estate needs. Go explore the advanced metrics that can help you make informed decisions:
Room Type Distribution
Property Type Distribution
Key Insights
- Market dominated by entire home listings (76.7%), with apartment & condo and house properties comprising 90.6% of inventory
- Untapped potential in others segments (3.0% combined)
Room Capacity Distribution
Analysis of 202 properties in Evanston shows that 2 bedrooms properties are most prevalent, making up 28.2% of the market. The market tends to favor smaller properties, with 2 bedrooms and 1 bedroom together representing 48.5% of all listings.
Key Insights
- Most common: 2 bedrooms (28.2%)
- Least common: 4 bedrooms (4.5%)
- Market concentration: 48.5% in top 2 sizes
- Market skew: Favors smaller properties
Guest Capacity Distribution
Analysis of 202 properties in Evanston reveals that 4 guests properties dominate the market, representing 22.3% of all listings. The average property accommodates 3.9 guests, with a clear trend towards larger guest capacities. Properties accommodating 4 guests and 6 guests make up 36.1% of the market.
Key Insights
- Most common capacity: 4 guests (22.3% of market)
- Least common capacity: 1 guest (0.5% of market)
- Average guest capacity: 3.9 guests per property
- Market concentration: 36.1% in top 2 capacity sizes
- Market segmentation: Predominantly larger guest capacities
Booking and Availability Patterns
Available Days Distribution
Booked Days Distribution
Among 202 properties in Evanston, the most common availability pattern is 91-180 days (29.7% of properties). For actual bookings, properties most frequently secure bookings for 181-270 days (29.7% of properties).
Key Insights
- Most common availability window: 91-180 days (29.7%)
- Most common booking duration: 181-270 days (29.7%)
- Properties with high availability (180+ days): 49.0%
- Properties with long-term bookings (180+ days): 53.0%
Minimum Stay Distributions
1 Night
53 listings
29.9% of total
2 Nights
74 listings
41.8% of total
3 Nights
18 listings
10.2% of total
4-6 Nights
14 listings
7.9% of total
7-29 Nights
7 listings
4% of total
30+ Nights
11 listings
6.2% of total
Key Insights
- Short stays (1-2 nights) dominate the market at 71.7%
- Mid-length stays (4-6 nights) represent 7.9% of listings
- Monthly+ stays (6.2%) suggest a stable extended-stay market
- High market flexibility with 81.9% accepting 3 nights or less
Recommendations
- Set minimum stays between 2-3 nights to align with market standards
- Adjust minimum stays seasonally based on demand patterns
- Consider monthly stay discounts to capture the growing extended-stay market
- Implement different minimum stays for weekends vs. weekdays
Cancellation Policy Distribution
Flexible
31 listings
16.8% of total
Moderate
41 listings
22.2% of total
Firm
44 listings
23.8% of total
Strict
69 listings
37.3% of total
Key Insights
- Strict is the preferred policy at 37.3% of listings
- Stricter policies (Firm & Strict) dominate at 61.1% of the market
- Flexible policies are least common at 16.8% of listings
Recommendations
- The market supports stricter policies, with 61.1% using Firm or Strict terms
- Strong market preference for Strict policies suggests this should be your baseline
Booking Lead Time Trends
Key Insights
- Peak booking lead times occur in Jun, Jul, May, averaging 69 days
- Shortest booking windows are in Mar, Jan, Feb, averaging 36 days
- Summer shows the longest average booking window at 65 days, while Winter has the shortest at 39 days
Recommendations
- Implement dynamic pricing strategies for Summer bookings at least 65 days in advance
- Consider early bird discounts during Winter to encourage longer lead times
- Focus on last-minute booking promotions during Mar-Feb when lead times are shortest
Popular Airbnb Amenities in Evanston
Below is the distribution of amenities across listings in Evanston:
Traveler Demographics
Key Insights
- Domestic travelers make up 89.7% of total guests, indicating a dominant local market share.
- Primary international markets: Canada (1.9%) and DC (1.1%)
- English is the top language at 70.6%, followed by Spanish (15.1%)
- Notable demographic segment in <=1950s (Pre-1950s (Silent Gen)) at 9.1%
Recommendations
- Target marketing campaigns for Chicago and New York markets
- Develop localized content for Canada and DC
- Prioritize English and Spanish language support
- Tailor experiences for Pre-1950s (Silent Gen) while maintaining broad age appeal
- Implement seasonal promotions aligned with key market travel patterns
Nearby Markets
Explore short-term rental performance in markets surrounding Evanston. These nearby markets offer diverse opportunities for property investors and hosts:
| Market | Properties | Monthly Revenue | Daily Rate | Occupancy |
|---|---|---|---|---|
| Town of Sugar Creek | 17 | $8,462 | $656.67 | 50% |
| Town of Wilson | 14 | $7,100 | $634.89 | 42% |
| Twin Lakes | 29 | $6,383 | $496.08 | 43% |
| Fennville | 10 | $6,263 | $405.22 | 45% |
| Summit | 10 | $6,011 | $456.60 | 42% |
| Laketown Township | 62 | $5,780 | $469.60 | 46% |
| Saugatuck Township | 145 | $5,624 | $488.80 | 43% |
| Town of Geneva | 50 | $5,456 | $390.81 | 47% |
| Lake Geneva | 166 | $5,240 | $423.13 | 44% |
| McHenry | 33 | $5,151 | $479.42 | 45% |
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