Friendship, WI

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  • Performance
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Key Performance Metrics

Market snapshot

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

Listings

42 / 69

Reliable / Active

Cap Rate

16%

Middle-Earners Gross Yield

Revenue

$36,728

Middle-Earners Revenue

Occupancy

43%

Middle-Earners Occupancy

Home Value

$223,564

Median Home Sale Price

Top Earners

$84,698

Top-Earners Revenue

Friendship

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Friendship.

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B

Generally Investor friendly

Friendship Regulations

Short-term rentals are clearly allowed with a defined licensing path, but investors face moderate steps: an annual license, possible special-exception/zoning review, building and fire inspections, and formal renewals with a 45‑day deadline. The process is well‑documented and the town’s tone is supportive, with no meaningful caps, supporting a friendly but not friction‑free environment.

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About Friendship

Friendship is a small village in Adams County, in the heart of central Wisconsin. With a population of approximately 700 residents, it sits immediately adjacent to the city of Adams, and the two communities together form the small Adams-Friendship area. The village has a quiet, rural character, surrounded by forests, lakes, and farmland, and it serves as a relaxed gateway to the broader central Wisconsin outdoor recreation region. Madison, the nearest major city, lies roughly 100 miles to the south, while Wisconsin Rapids is about 30 miles to the north.

Roche-A-Cri State Park is one of the area's most distinctive natural attractions, set a short drive north of Friendship. The park is anchored by a 300-foot rock outcropping that rises above the surrounding woodlands and features ancient petroglyphs carved by Native Americans centuries ago. Visitors come to climb the stairway to the top for sweeping views of the central Wisconsin landscape, and the park also offers hiking trails, camping, and a small visitor center. It is a popular stop for guests interested in both geology and local history.

Castle Rock Lake, the fourth-largest lake in Wisconsin, lies just a few miles southeast of Friendship. Part of the broader Petenwell–Castle Rock waterway system, the lake draws anglers, boaters, and paddlers throughout the warmer months and is a quieter alternative to the busier lake destinations elsewhere in the state. The shoreline includes public access points, small marinas, and a number of vacation homes, making it a focal point of the local tourism economy and a natural draw for short-term-rental guests.

About 35 miles to the southwest, the Wisconsin Dells offers a dramatically different kind of experience. Widely recognized as the "Waterpark Capital of the World," the Dells is famous for its concentration of indoor and outdoor waterparks, scenic riverboat tours through the sandstone gorges of the Wisconsin River, and family-oriented attractions. It is one of the most-visited tourism destinations in the upper Midwest and pulls day-trippers and overnight visitors from across the region.

Buckhorn State Park, situated along the Wisconsin River not far from Friendship, adds another layer of outdoor appeal. The park is known for its sandy swimming beach, quiet backwaters, and stands of old-growth hardwood, and it provides a more peaceful counterpoint to the busier Dells-area attractions. Together, these nearby destinations give the Friendship area a versatile mix of quiet natural beauty and easy access to high-energy regional tourism.

For short-term-rental owners, Friendship offers an appealing combination of small-town affordability, abundant outdoor recreation, and proximity to one of the Midwest's most popular tourism corridors. Guests can spend mornings on Castle Rock Lake, afternoons hiking at Roche-A-Cri, and evenings a short drive from the lights and attractions of the Dells, all while staying in a community that retains the unhurried pace of rural Wisconsin.

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