Trying to choose between Breckenridge and Silverthorne for a short‑term rental? You want strong booking calendars, clear rules, and a path to reliable cash flow. In this guide, you’ll get a side‑by‑side look at demand drivers, typical performance patterns, costs, regulations, and a simple model to compare returns. Let’s dive in.

Quick answer: which performs better?

Breckenridge often commands higher average nightly rates and stronger peak‑season revenue because of its resort brand and lift‑proximate inventory. Silverthorne typically offers lower purchase prices and convenient I‑70 access, which can support steadier midweek and shoulder‑season occupancy. The better performer for you depends on the specific property, its location, and the local rule set at the time you operate.

How demand differs

Winter ski season

Breckenridge benefits from its established ski resort, walkable downtown, and lift proximity, which support premium pricing and multi‑night destination stays. Silverthorne draws guests who value access to multiple Summit County mountains and easy highway reach. In peak winter, both towns see strong occupancy, with Breckenridge often winning on rate near the resort core.

Summer and shoulder seasons

Both towns attract travelers for hiking, biking, and lake activities. Breckenridge’s downtown events and amenities can pull a larger share of destination visitors. Silverthorne’s trail access, outlet shopping, and proximity to Dillon Reservoir add year‑round appeal for value‑seeking guests.

Access and guest mix

Silverthorne’s I‑70 location favors shorter stays, pass‑through trips, and budget‑conscious travelers. Breckenridge sees a higher share of repeat destination visitors who plan longer trips. Each market serves slightly different trip types, which affects rate and occupancy patterns.

Revenue metrics to know

Use these core metrics to compare properties and markets:

• ADR (Average Daily Rate) = total rental revenue divided by rented nights
• Occupancy (%) = rented nights divided by available nights
• RevPAR (Revenue per Available Rental) = ADR times occupancy
• Gross annual revenue ≈ ADR times occupancy times 365
• NOI (Net Operating Income) = gross revenue minus operating expenses
• Cap rate = NOI divided by purchase price
• Cash‑on‑cash return = annual cash flow after debt service divided by cash invested

Typical performance patterns

ADR and occupancy

Breckenridge generally achieves higher ADR due to resort branding, lift access, and a dense amenity base. Winter occupancy is strong in both towns, with Breckenridge often comparable or higher during peak. Silverthorne can show steadier midweek and shoulder‑season occupancy thanks to lower price points and easy highway access.

Gross revenue vs ROI

A Breckenridge property near lifts or downtown often generates higher gross revenue per unit. However, higher purchase prices and potentially tighter regulations may compress returns. Silverthorne’s lower entry cost per bedroom can improve yield and make cash flow targets more attainable for many investors.

Model both towns side by side

Inputs to gather

• Purchase price, down payment, interest rate, and loan term
• ADR and occupancy estimates for a comparable set
• Cleaning fee strategy and booking platform fees
• Property management fee, utilities, internet, snow removal
• HOA dues, insurance, property tax rate, and a capital reserve percent

Calculation steps

1. Annual gross revenue = ADR times occupancy percent times 365.
2. Subtract platform fees and any owner‑paid portion of cleaning to get net rental revenue.
3. Subtract operating expenses: management, cleanings, utilities, internet, insurance, HOA, property tax, maintenance reserves.
4. Subtract mortgage payments to get annual cash flow.
5. Compute NOI and cap rate, then cash‑on‑cash return.

Sensitivity scenarios

• Conservative: lower ADR and lower occupancy.
• Baseline: mid‑range assumptions for both ADR and occupancy.
• Optimistic: higher ADR and higher occupancy driven by superior location and amenities.

Run the same three scenarios for a comparable unit profile in each town. This shows the range of outcomes and helps you plan for seasonality and operating risk.

Costs and management differences

Common operating costs

• Property management fees: often 15 to 35 percent of booking revenue depending on service level.
• Cleaning and turnovers: per‑stay cost that may be partly covered by guest fees.
• Utilities and internet: higher in mountain climates due to heating.
• Snow removal and winter prep: recurring in Summit County.
• Maintenance and reserves: plan roughly 1 to 3 percent of property price annually as a starting point.
• Insurance: short‑term rental policies or endorsements typically cost more than standard homeowners.
• HOA dues and property taxes: vary by property type, amenities, and assessed value.

Self‑manage or hire a manager

Self‑management can lower fees if you have a reliable local team for turnovers and maintenance. Professional managers can improve pricing and occupancy through distribution and dynamic pricing, which matters if you operate remotely. Choose the model that supports your schedule and quality standards.

Regulations and taxes to confirm

Each town has its own licensing framework, zoning rules, safety requirements, occupancy limits, parking rules, and renewal processes. Breckenridge maintains a mature STR licensing program, and Silverthorne’s code differs in permit types, allowable zones, and enforcement emphasis. You must also collect and remit lodging taxes at the town and county level, and state sales tax may apply. Regulations and tax rates change over time, so verify current requirements with the municipal STR programs and the Colorado Department of Revenue before you buy.

What drives outperformance

Location advantages

• Breckenridge: proximity to lifts and downtown often commands premium ADR and strong peak‑season demand.
• Silverthorne: quick I‑70 access, parking ease, and proximity to Dillon Reservoir and nearby ski areas support year‑round stays at competitive rates.

Unit features that matter

• Bedroom and bathroom count aligned with guest capacity
• Private hot tub, fireplace, garage or covered parking
• Pet‑friendly policies when allowed
• Views, outdoor space, and walkability to trails or amenities

Key risks to underwrite

• Regulatory risk: licensing caps, night limits, and inspections can change and affect returns.
• Market saturation: new listings can pressure ADR and occupancy.
• Seasonality: winter concentration increases revenue volatility.
• Physical risk: winter weather increases maintenance needs and insurance claims.
• Exit and resale: HOA rules and municipal limits can shape the buyer pool and resale value.

Action plan to compare your two options

• Review current STR ordinances and permitting pages for both towns.
• Pull ADR, occupancy, and RevPAR from a market analytics tool at the town or zip level.
• Build a comparable set of 6 to 12 listings per town that match your target unit type and location.
• Confirm management fee structures, typical occupancy, and enforcement posture with local property managers.
• Check HOA documents for rental limits and minimum stays.
• Create three financial scenarios for both towns using the same assumptions, then compare NOI, cap rate, and cash‑on‑cash return.

If you want a second set of eyes on your model or help sourcing the right comps, our practitioner‑agents can walk through the numbers with you. For broker representation and investor‑minded guidance, connect with Good Neighbor Realty to get a free valuation and investment plan.

FAQs

Which town makes more STR income on average?

• Breckenridge often achieves higher ADR and peak winter revenue per night, while Silverthorne commonly offers lower entry prices and potentially steadier cash flow. Actual results depend on property specifics and regulations.

Are STR rules stricter in one town?

• Each town has its own code and licensing structure. Breckenridge has a mature framework, and Silverthorne’s rules differ by permit type and zoning. Always confirm current requirements directly with the municipalities.

Which location is better for year‑round bookings?

• Silverthorne’s highway access and value orientation can support midweek and shoulder‑season stays, while Breckenridge’s destination appeal drives strong winter and solid summer demand that may be more seasonal.

How do I estimate returns before I buy?

• Gather ADR and occupancy from comparable listings, build three scenarios, estimate all operating costs, then calculate NOI, cap rate, and cash‑on‑cash after debt service.

What hidden costs trip up first‑time STR owners?

• HOA restrictions, permit and renewal fees, higher STR insurance, winter maintenance, and compliance upgrades after inspections often surprise new owners.