Performance indicators for the Warroad short-term rental market based on reliable data.
Listings
Reliable / Active
Cap Rate
Middle-Earners Gross Yield
Revenue
Middle-Earners Revenue
Occupancy
Middle-Earners Occupancy
Home Value
Median Home Sale Price
Top Earners
Top-Earners Revenue
The highest-performing listings in Warroad.
Loading top listings...
Generally Investor friendly
STRs are allowed without a city ban, but a conditional‑use permit (CUP) is often required in residential zones, adding a discretionary approval step; investors must also meet state lodging‑tax registration and fire/health inspections, creating moderate permitting/compliance complexity and some enforcement risk.
Local STR Agent
STR specialist · Warroad, MN
Warroad is a small city of about 1,800 residents in Roseau County, in the far northwestern corner of Minnesota, perched along the southern shore of Lake of the Woods not far from the Canadian border. The community carries a distinctly outdoorsy, sports-loving character, and it is widely known as "Hockey Town USA" thanks to an extraordinary legacy of NHL-caliber players produced from such a small population. Beyond its hockey pedigree, Warroad serves as a gateway to some of Minnesota's most expansive lake country and forest wilderness. The nearest major city is Grand Forks, North Dakota, roughly 100 miles to the southwest, while Winnipeg, Manitoba lies about two hours to the north across the international border, and the Twin Cities are approximately five to six hours southeast.
Lake of the Woods is the headline natural attraction in the area, a vast body of water spanning more than 1,600 square miles across Minnesota, Ontario, and Manitoba. It is one of the most celebrated fishing destinations in the Upper Midwest, renowned for walleye, sauger, northern pike, and lake sturgeon, and its many islands, bays, and inlets draw boaters, anglers, and houseboaters throughout the warmer months. The lake is essentially at Warroad's doorstep, with public accesses and marinas just minutes from the city center.
A short drive west of town brings visitors to Zippel Bay State Park, a roughly 2,900-acre park on the northern reaches of Lake of the Woods. The park offers a sandy swimming beach, forested hiking trails, and camping facilities, providing a quieter alternative to busier state parks further south. Its location makes it a natural day trip or overnight stop for travelers exploring the Lake of the Woods region.
Downtown Warroad anchors the city's identity, where the famous outdoor hockey rink stands as the civic heart and a working monument to the community's sporting tradition. Year-round ice facilities reinforce the town's commitment to the sport, while small shops, cafes, and the headquarters of Marvin Windows and Doors give the central streets a quiet, locally rooted feel. A few blocks from the lakeshore, this compact downtown is easily walkable from most lodging options.
For short-term rental investors, Warroad combines a small-town setting with several genuine draw cards: world-class fishing and lake recreation in summer, a vibrant ice hockey culture in winter, and proximity to some of the most unspoiled wilderness in the Upper Midwest. The community's relative isolation limits competition, while its identity as a regional hub for outdoor and sporting tourism provides a dependable seasonal flow of visitors seeking a quieter alternative to Minnesota's more heavily visited lake destinations.