Aurora, MN

  • Overview
  • Performance
  • Listings
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Key Performance Metrics

Market snapshot

Performance indicators for the Aurora short-term rental market based on reliable data.

Listings

51 / 96

Reliable / Active

Cap Rate

22%

Middle-Earners Gross Yield

Revenue

$35,244

Middle-Earners Revenue

Occupancy

51%

Middle-Earners Occupancy

Home Value

$163,105

Median Home Sale Price

Top Earners

$72,314

Top-Earners Revenue

Aurora

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Aurora.

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A

Very Investor friendly

Aurora Regulations

Aurora clearly permits short-term rentals citywide with an inexpensive, single annual license ($100), simple fee/tax (3% lodging tax), and a straightforward process; no caps, opaque zones, or onerous reporting burdens are evident, and the tone and performance standards support investor-friendly compliance.

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About Aurora

Aurora is a small city in St. Louis County, in northeastern Minnesota, nestled within the historic Mesabi Iron Range. With a population of roughly 1,700, the community has the quiet, working-class character of a former mining town, surrounded by the forests, lakes, and ridgelines that define the Arrowhead region. Aurora sits about 60 miles north of Duluth and roughly 200 miles north of the Twin Cities, and it serves as a convenient base for travelers exploring the Iron Range, its mining heritage, and the vast network of outdoor recreation lands that stretch toward the Boundary Waters.

Just a short drive east of Aurora lies the Giants Ridge Recreation Area, a year-round destination in the town of Biwabik known for downhill skiing in winter and championship golf, hiking, and mountain biking in summer. The resort area is roughly 15 to 20 minutes from Aurora by car and includes a lake with sandy beach, making it a popular anchor for visitors who want both lodging comfort and outdoor adventure. Further west, about a half-hour drive, the city of Hibbing offers the Hull–Rust–Mahoning Mine View, an overlook perched above one of the largest open-pit iron mines in the world. The site, operated in partnership with the Minnesota Historical Society, provides a striking vantage point over the enormous working mine and includes interpretive exhibits about the Iron Range's role in supplying ore for the nation's steel industry.

To the north and west of Aurora, the region opens up into a landscape defined by large, forested lakes. Lake Vermilion, one of Minnesota's most celebrated bodies of water, lies within about a 30- to 40-minute drive and is renowned for its rocky shorelines, islands, and excellent fishing. Closer to home, the Mesabi Trail passes through the Iron Range communities, offering a paved route for biking, walking, and snowmobiling that connects Aurora to neighboring towns. Together, these draws give the area a year-round appeal that extends well beyond a single season.

Aurora's combination of small-town affordability, proximity to popular recreation destinations, and access to the broader Arrowhead tourism corridor makes it a practical base for short-term rentals. Visitors drawn by Giants Ridge in winter, Lake Vermilion in summer, or the mining heritage sites in between can find reasonably priced lodging in a community that feels genuinely local, while still being within easy reach of Duluth and the North Shore. For travelers who value space, scenery, and a sense of place over a bustling resort scene, Aurora offers an appealing alternative to the busier gateways farther up the road.

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