Marquette, MI

  • Overview
  • Performance
  • Listings
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Key Performance Metrics

Market snapshot

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

Listings

291 / 507

Reliable / Active

Cap Rate

10%

Middle-Earners Gross Yield

Revenue

$35,142

Middle-Earners Revenue

Occupancy

60%

Middle-Earners Occupancy

Home Value

$338,829

Median Home Sale Price

Top Earners

$67,063

Top-Earners Revenue

Marquette

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Marquette.

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C

Challenging to Investors

Marquette Regulations

Marquette’s STR market is legally permitted but gated by a hard cap of 250 permits that has already been filled, creating a multi‑year waiting list and making new entry difficult. The city also imposes moderate fees, detailed inspections, and safety standards, further tightening the investment landscape. Overall, the combination of a strict quota and substantial compliance hurdles places the regulations in the “Challenging” category.

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About Marquette

Marquette is a small but lively city perched on the southern shore of Lake Superior in Michigan's Upper Peninsula, where it serves as the county seat of Marquette County and the largest community in the region, with a population of roughly 21,000 residents. The city has the feel of a classic Upper Peninsula port town, blending a working waterfront, a vibrant downtown, and the youthful energy of Northern Michigan University, all set against a backdrop of forested ridges and the immense freshwater horizon of Lake Superior. Marquette is widely regarded as a gateway to the wild, lake-carved landscapes of the central Upper Peninsula, drawing visitors year-round for its mix of small-city amenities and easy access to the surrounding wilderness. The nearest major city is Green Bay, Wisconsin, located approximately 150 miles to the south, while larger Midwestern hubs such as Milwaukee and Chicago sit several hours farther down the road.

Just minutes north of downtown, Presque Isle Park wraps around a wooded peninsula that juts into Lake Superior and offers several miles of walking and biking paths, rocky shoreline, and one of the most photographed lighthouses on the lake. It is the kind of place where visitors can walk, picnic, or watch freighters glide past in the channel within a few minutes of leaving the city's main streets.

About an hour and a half to the east along Lake Superior's shoreline, Pictured Rocks National Lakeshore stretches for more than forty miles of colorful sandstone cliffs, sea caves, waterfalls, and quiet beaches. The park, accessed by car via Munising, is one of the most popular day-trip destinations in the Upper Peninsula and a major reason travelers base themselves in Marquette during the warmer months.

Closer to home, Sugarloaf Mountain rises just a short drive west of downtown, with a relatively short but steep climb to a summit that rewards hikers with sweeping views over the city, the harbor, and Lake Superior. In winter, the same area draws skiers and snowshoers, reinforcing Marquette's reputation as a four-season outdoor destination.

Downtown Marquette, clustered around Front Street and the Lower Harbor area, anchors the city's social life with locally owned restaurants, breweries, galleries, and the harborfront where the Marquette Maritime Museum interprets the region's shipping and lighthouse history. Walking paths, a small beach at McCarty's Cove, and the oreboat tours that depart nearby add to the appeal of a compact, walkable core.

Taken together, Marquette offers a rare combination of small-town character, university-town energy, and immediate access to some of the most dramatic scenery in the Great Lakes. For short-term rental owners, that mix of year-round outdoor appeal, a walkable downtown, and proximity to marquee attractions like Pictured Rocks makes the city a strong base for travelers exploring Michigan's rugged northern coast.

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