How much can a Park City ski condo earn as a nightly rental?
A Park City ski condo typically grosses about $50,000 to $150,000 a year in nightly rental revenue, with market-wide averages near $86,000, median occupancy around 55%, and an average daily rate near $447. Peak-season nights in premium ski-access buildings often command $800 to $900 or more. What you actually keep is lower, because property management (commonly 25% to 40%), HOA dues, cleaning, utilities, and Utah lodging taxes come off the top. And the income only exists at all if the specific subdivision allows nightly rentals.
If you're weighing a Park City condo as an income property, the number that matters isn't the gross figure a listing quotes. It's what lands in your account after the mountain takes its cut, and after you confirm the building can legally be rented by the night at all.
This is one of the questions we run the math on most often with buyers right now. Here's the honest version.
What a Park City ski condo actually earns
Across the broader Park City market, the average short-term rental brought in roughly $86,000 in gross revenue over the most recent twelve-month stretch, on a median occupancy near 55% and an average daily rate around $447. A typical rented condo books about 200 nights a year.
Those averages hide an enormous spread. Size, location, and ski access move the number more than anything else:
- 1–2 bedroom condos: roughly $50,000 to $100,000 gross per year
- 2–3 bedroom condos: roughly $70,000 to $150,000 gross per year
- Canyons Village condos: commonly $70,000 to $150,000, given the walk-to-lift base-area demand
- Peak-season nights: $800 to $900 and up in strong ski-access buildings; branded residences at Montage, St. Regis, and Grand Hyatt Deer Valley can clear $2,000 to $5,000+ a night in prime weeks
The single biggest performance driver is how close guests are to the snow. A true ski-in/ski-out unit, or a condo you can walk to the lift from, commands rates and occupancy that a car-dependent condo three miles away simply can't touch. Two units with identical square footage can earn double or half of each other based on that alone.
New supply and new demand are both landing at once. The Deer Valley East Village expansion, which opened its terrain on December 31, 2025 with more than 100 new runs, 10 new lifts, and the East Village gondola, is bringing a wave of brandable, rentable inventory online alongside the Grand Hyatt and Four Seasons residences. That reshapes both what you can earn and what you'll compete with.
Gross income and take-home income are two different numbers
The figure that trips buyers up is the gap between the top-line revenue and what's left after the property earns it. Here's what comes off the top of a Park City nightly rental:
- Property management: Full-service nightly programs commonly charge 25% to 40% of gross revenue. That's the largest single deduction, and it's the price of not personally handling 200 guest turnovers a year in a ski town.
- HOA dues: Ski-condo dues run high here. Snow load, freezing cycles, and shared amenities drive real capital needs, and underfunded reserves can trigger special assessments on top of the monthly dues.
- Cleaning and turn costs: Housekeeping between stays, linens, and restocking, often billed per turn.
- Utilities, internet, and supplies: Heat and snowmelt systems aren't cheap at altitude.
- Utah lodging taxes: Nightly stays carry transient room tax plus sales tax, collected from the guest and remitted by you or your manager.
- Insurance, furnishing depreciation, and repairs: A rental gets used hard, and turnkey furnishings wear out.
Run a simple example. A condo grossing $100,000 might give up roughly $30,000 to a full-service manager, $15,000 to $20,000 in HOA dues, and another $15,000 to $20,000 across cleaning, utilities, supplies, and insurance. That can leave something in the range of $30,000 to $37,000 in net operating income before any mortgage payment. If you financed the purchase, debt service comes out of that remainder, and at Park City price points that usually means a jumbo loan.
This is why "what does it rent for?" is the wrong first question. The right one is "what does it net, in this specific building, after this specific HOA and this specific rental program?" The true cost of owning a Park City property includes carrying costs most spreadsheets leave out.
The one MLS field that decides whether there's any income at all
Before any of the math matters, one detail settles whether a condo can produce nightly income: whether nightly rentals are allowed there.
Park City is one of the most segmented rental markets in the country. Short-term rental permission varies subdivision by subdivision, and even building by building. Resort base areas and much of Old Town permit nightly rentals. Many quieter residential subdivisions restrict rentals to 30 days or longer, which eliminates the nightly-rate premium entirely. A beautiful condo in the wrong zone is a beautiful condo with zero nightly income.
The "nightly rentals allowed" line on the MLS listing is the most important sentence on the page for an income buyer, and it still needs to be verified against the HOA's own rules, which can be stricter than the zoning. We check this before a client removes a single contingency. If you want the map of where nightly rentals are permitted, start with our guide to where nightly rentals are allowed in Park City.
There's a tax layer too. If you use the condo personally for more than 14 days a year, or more than 10% of the days it's rented, the IRS may treat it as a second home rather than an investment property, which changes how income and expenses are handled. That interacts with how Utah treats the property for primary versus second-home property taxes, and it's worth mapping out with your CPA before you close.
How to find your real number
Your actual number depends on variables no online estimator can see: the exact subdivision and its rental rules, the building's rental program and its cut, the HOA's dues and reserve health, your financing, and how many weeks you plan to keep for yourself.
The only reliable way to know is to model comparable rental performance building by building, verify the nightly-rental permission against both zoning and HOA rules, and stress-test the net yield against real expenses. That's the work we do before a client writes an offer on an income property, and it's why choosing an agent who knows short-term rental performance in this market matters as much as the property itself.
Frequently Asked Questions
What is the average nightly rental income for a Park City condo?
Market-wide, Park City short-term rentals average roughly $86,000 in gross revenue a year, with most condos landing between $50,000 and $150,000 depending on size, location, and ski access. Net income is materially lower after property management, HOA dues, cleaning, utilities, and Utah lodging taxes.
Are short-term rentals allowed everywhere in Park City?
No. Nightly-rental permission varies subdivision by subdivision and sometimes building by building. The "nightly rentals allowed" field on the MLS listing is decisive, and it should be confirmed against both local zoning and the HOA's own rules before you buy.
How much do property managers charge for a Park City rental?
Full-service nightly rental programs commonly charge 25% to 40% of gross revenue. That covers marketing, booking, guest communication, and turnovers, and it's usually the single largest deduction from your top-line income.
Do I pay taxes on Park City nightly rental income?
Yes. Nightly stays carry Utah transient room tax and sales tax collected from guests, and your net rental income is subject to income tax. Personal use above 14 days, or 10% of rented days, can reclassify the property from an investment to a second home, so confirm the details with your CPA.
Is a Park City condo a good investment in 2026?
It can be, when the subdivision allows nightly rentals and the numbers pencil after expenses. The luxury tier stayed strong through the first half of 2026, but returns depend heavily on the specific building, its rental program, and how you finance the purchase.
Before you buy for income, know your real net
A Park City ski condo can be a strong income property, but the headline rental figure and your actual take-home are rarely close, and neither one exists if the subdivision doesn't permit nightly rentals. The difference between a condo that pencils and one that quietly loses money each year comes down to details you can only verify building by building.
If you're looking for luxury real estate in Park City or anywhere across the Wasatch Back, we're happy to consult on the market and help you assess your options. Reach out to schedule a private consultation with our team, and we'll model the real numbers on any building you're considering.
About David Lawson
David Lawson is the founder of the Lawson Real Estate Team, a luxury real estate group serving Park City and the greater Wasatch Back, including Hideout, Midway, Heber, and Kamas. He leads a team that has closed more than 3,920 transactions and earned recognition as the #1 eXp Realty team in Utah (2022–2025) and previously the #1 Engel & Völkers team worldwide (2019, 2021). David and his team specialize in high-end mountain properties, from single family homes and new construction to ski-in/ski-out vacation properties and short-term rental investments, guiding buyers and sellers through one of the most segmented luxury markets in the country.
