Grand Rapids, MN

  • Overview
  • Performance
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Key Performance Metrics

Market snapshot

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

Listings

61 / 157

Reliable / Active

Cap Rate

11%

Middle-Earners Gross Yield

Revenue

$31,987

Middle-Earners Revenue

Occupancy

56%

Middle-Earners Occupancy

Home Value

$282,937

Median Home Sale Price

Top Earners

$59,019

Top-Earners Revenue

Grand Rapids

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Grand Rapids.

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B

Generally Investor friendly

Grand Rapids Regulations

STRs are explicitly permitted under Itasca County and the county is actively issuing licenses; costs are moderate ($450 for 3 years) and the steps are clear, with no caps noted and a supportive tone. However, regulations are still evolving via draft ordinances and require multiple documentation and safety/environmental compliance steps, creating moderate uncertainty for investors.

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About Grand Rapids

Grand Rapids sits in north-central Minnesota as the seat of Itasca County, with a population of roughly 11,000 residents. The town carries a quietly industrious northern character shaped by its long ties to the timber and paper industries, and it serves as the most popular gateway to one of Minnesota's most iconic natural landmarks. It lies approximately 200 miles north of the Twin Cities of Minneapolis and St. Paul, reached by a roughly three-hour drive up US Highway 169.

Itasca State Park, about 25 miles northwest of town, draws visitors from across the country to walk across the headwaters of the Mississippi River, where the great river begins its long journey to the Gulf of Mexico. Established in 1891 as one of Minnesota's oldest state parks, the park spans more than 32,000 acres of old-growth pine forest and over 100 lakes, offering hiking, biking, swimming, and wildlife watching across its network of trails and scenic drives.

Downtown Grand Rapids is home to the Judy Garland Museum, honoring the actress and singer who was born in the town in 1922. The museum preserves her childhood home and houses a collection of memorabilia from her life and career, including a recreation of her bedroom, period costumes, and a small theater that screens classic films. It remains a quiet but well-loved stop for fans passing through the region.

Just outside town, the Forest History Center offers a look at the area's logging heritage through a recreated 1900-era logging camp, where costumed interpreters demonstrate period skills and daily life in the north woods. Operated by the Minnesota Historical Society, the site also includes interpretive exhibits, nature trails, and a modern visitor center that places the region's timber economy in broader historical context.

With its blend of small-town amenities, easy access to wilderness, and proximity to one of the state's most-visited parks, Grand Rapids offers short-term rental owners a dependable base for travelers seeking the natural beauty of northern Minnesota. Visitors come year-round for the headwaters experience, fall foliage drives, snowmobiling, and the cultural stops that give the town its own distinct character, supporting a steady flow of guests through every season.

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