Performance indicators for the Olympia short-term rental market based on reliable data.
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The highest-performing listings in Olympia.
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Generally Investor friendly
Olympia allows STRs citywide with explicit legality and a manageable permitting process, but vacation rentals require a biennial permit, business licenses, insurance, and a 24/7 local contact, adding moderate compliance burden. Caps (max two units per owner) and zoning restrictions limit scale but are reasonable. Enforcement is clear and supportive, with penalties for violations, but the tone fosters investment through well-documented processes and legacy protections.
Local STR Agent
STR specialist · Olympia, WA
Olympia, the capital of Washington state, sits in Thurston County at the southern tip of Puget Sound, where the Deschutes River empties into Budd Inlet. With a city population of roughly 55,000, it carries a laid-back, Pacific Northwest feel that blends government activity with a working waterfront, a notable craft-beer and arts scene, and easy access to forests, mountains, and the coast. The city is best known as the seat of state government and as a launching point for trips to both the Olympic Peninsula and the snow-capped flanks of Mount Rainier. It lies about 60 miles south of Seattle along Interstate 5, roughly an hour's drive, making it close enough to the state's largest metro for spillover visitors but a far calmer home base.
The Washington State Capitol Campus anchors the city's identity. The Legislative Building, with its distinctive sandstone dome often compared to the U.S. Capitol, sits on a hill above Capitol Lake and is open for free guided tours year-round. The surrounding campus includes the Governor's Mansion, formal gardens, monuments, and veterans' memorials, and the building is listed on the National Register of Historic Places. Washington State Capitol
Just downhill from the campus, Percival Landing is a mile-long waterfront park and boardwalk along Budd Inlet, popular for walking, public art, and watching harbor seals and great blue herons from the docks. A short stroll away, the Olympia Farmers Market draws weekend crowds with local produce, shellfish, flowers, and crafts, capturing the region's farm-to-table character. Together, the waterfront and downtown core offer a walkable, cafe-lined setting that appeals to short-term guests seeking a quieter alternative to Seattle.
Outdoor recreation is a major draw. Mount Rainier National Park is roughly 75 miles to the east, a drive of about two hours via I-5 and SR-7 to the Nisqually and Paradise entrances, where wildflower meadows, glaciers, and old-growth forest draw summer hikers and winter snowshoers. To the northwest, Olympic National Park is reachable in roughly two to three hours via the Hood Canal Bridge, opening up the Hoh Rain Forest, the alpine vistas of Hurricane Ridge, and the rugged Pacific coastline. Closer to town, Tolmie State Park and Millersylvania State Park, both within about a 20-minute drive, offer short trails, picnic areas, and lake swimming that reinforce Olympia's reputation as a four-season outdoor hub.
Olympia makes a compelling base for short-term rentals because it pairs small-city walkability with unusually diverse day-trip options. Guests can spend a morning touring the capitol and walking the waterfront, then choose between a glacier-clad volcano, a temperate rainforest, or a wild stretch of Pacific coast by afternoon, all before returning to a downtown of breweries, bookstores, and independent restaurants. That combination of accessible urban amenities and front-door access to some of the Pacific Northwest's most iconic landscapes gives the market a year-round appeal that few similarly sized cities can match.