Colorado Rocky Mountains spanning the state's short-term rental markets
Colorado STR Markets

Where the Numbers Actually Work.

Colorado is the only state we work in — and we don't work all of it. We invest where STRs are legal, demand is real, and the math holds up. Here's the map, market by market.

Key takeaways

  • Covest works only in Colorado, and only where an STR is legal and licensable for an investor, verified parcel by parcel before you write an offer.
  • Markets play differently: Summit County pairs premium ski rates with capped licenses, Grand County has open licensing, and Denver Metro has year-round demand.
  • Breckenridge, Estes Park, Twin Lakes and Wheat Ridge cap investor licenses, while Winter Park and Fraser register investor STRs with no cap.
  • Every market has to pass three filters: an STR that's legal for an investor, real and durable guest demand, and numbers that pencil under conservative assumptions.
Four Markets We Know Cold

Pick Your Colorado Market

Each market plays differently — premium ski rates vs. open licensing vs. year-round urban demand. Click in for license status, nightly rates, occupancy, and exactly where we buy.

How We Choose

Covest's Three Filters, Every Time

Regulation

We only buy where a short-term rental is legal and licensable for an investor — and we verify it parcel by parcel before you ever write an offer.

Demand

Real, durable guest demand — ski, national parks, events, or metro business travel — not a speculative bet on a market that hasn't proven itself.

Returns

The numbers have to pencil under conservative assumptions, calibrated against real performance from our managed Colorado portfolio.

Town by Town

STR Investing by Colorado Town

Whether an investor can license a short-term rental, what caps apply, what happens on a sale, and what the market is asking. Every rule links to the town or county source.

Open · 240-night limitArvadaInvestor permits allowed under 2026 rules, with a 240-night yearly limit and three permits per person. Open · New 2026 ordinanceBaileyPark County licenses investor STRs under a revised ordinance effective July 2026. Septic capacity sets occupancy. Capped · Waitlists by zoneBreckenridgeBreckenridge caps STR licenses in three zones and runs a waitlist for each. Licenses don't transfer on a sale. Open by zone · 500 ftColorado SpringsNo citywide cap. Investor permits barred in single-family zones and spaced 500 feet apart. Capped · Lottery waitlistEstes ParkThe town caps vacation homes in residential zones at 322 and fills its waitlist by lottery. Larimer County caps the valley at 208. Open · 1% fire-district capEvergreenJefferson County's 2026 license: one investment STR per owner, a 1% cap per fire district and 750-foot spacing. Zoned · Open, capped, closedSteamboat SpringsSteamboat splits the city into three zones: unlimited, capped by lottery, and closed to new STRs. A 9% STR tax applies. Capped · 9 left countywideTwin LakesLake County caps investor (Standard) licenses at 135 countywide. Nine were left in September 2026. Open · One per operatorWestminsterNon-owner-occupied STRs licensed since 2024, limited to one per operator in the city. Capped by districtWheat RidgeWhole-home STRs capped at 2% per council district. Three of four districts were full in 2026. Open · No capWinter Park & FraserBoth towns register investor STRs with no cap. Fraser charges per bedroom; neither license transfers on a sale.
Not Sure Which Market Fits?

Let's Match You to the Right One.

Budget, goals, and risk tolerance all point to a different Colorado market. One call with Shalom and we'll narrow it down — then find the deal.

See the Portfolio