Big Bear Lake, CA: Vacation Rental Investment Guide (June 2026)
Ski + lake cabin town. San Bernardino mountains, ~2h from LA and Orange County.
The Numbers
Median Price
$570,000
ADR
$385
avg daily rate
Occupancy
38%
Proj. Gross Revenue
$53,400
per year · 9.4% gross yield
5-Yr Appreciation
+20%
Property Tax
1.10%
effective / yr
The STR Math
The median Big Bear Lake deal, run through DSCR math
- Purchase price (median)
- $570,000
- Down payment (20%)
- −$114,000
- Loan amount
- $456,000
- P&I @ 7.91% / 30yr
- $3,317/mo
- Property taxes (1.10%/yr)
- $523/mo
- Insurance (~0.6%/yr)
- $285/mo
- PITIA (full payment)
- $4,125/mo
- Est. STR gross ($385 ADR × 38% occ.)
- $4,450/mo
Illustrative DSCR
1.08
Covers the payment, but below the 1.25 line where the best rate tiers start.
Illustrative only, not a quote or pre-qualification. Uses the June 2026 median price and an ADR × occupancy revenue estimate, an indicative STR rate of 7.91% (10-year Treasury + a typical STR spread — see the live data dashboard), the market's effective tax rate, and estimated insurance. Gross revenue is before cleaning, management, utilities, and platform fees — lenders also haircut projected STR income. Actual numbers vary by property and borrower.
Strategy Check
STR vs long-term rental in Big Bear Lake
Short-term rental
Wins- Gross income
- $4,450/mo
- Est. PITIA @ 7.91%
- $4,125/mo
- Est. DSCR
- 1.08
Long-term rental
- Lease rent
- $2,300/mo
- Est. PITIA @ 7.53%
- $4,005/mo
- Est. DSCR
- 0.57
Short-term wins on gross by about $2,150/month ($4,450 STR gross vs $2,300 lease rent) — that premium is what pays for furnishing, cleaning, and management, with margin left over if you operate well. Note the fallback: at 0.57 estimated LTR DSCR, lease rent alone doesn't carry the median purchase here — this market's debt wants nightly revenue behind it, so the STR permit picture matters doubly.
Regulation Reality
Can you legally run an STR in Big Bear Lake?
City vacation-rental permit and TOT registration required but no cap on total permits — voters rejected Measure O, a 2022 ballot measure to restrict STRs, by a wide margin.
For underwriting, a license requirement without a cap is friction, not risk: budget the registration cost and timeline, confirm the property type qualifies, and projected-income DSCR financing proceeds normally. The license is a checklist item, not a lottery ticket.
The Second-Home Angle
Your weekends plus rental income — two ways in
The closest true ski-and-lake town to 20M+ Southern Californians — a 2-hour drive makes spontaneous weekend use realistic.
That dual-use case — your own stays in the weeks you want, rental income the rest of the calendar — is what separates a vacation market from a spreadsheet market, and it opens a second financing door that pure investment properties don't get.
Second-home conventional
As little as 10% down and rates close to a primary residence. The trade: lenders require genuine personal use, qualify you on your own income (W2/DTI), and limit how much of the year the home can be rented out — and some restrict short-term renting entirely. Best when the house is mostly for you and the rental income is offset, not engine.
DSCR investment loan
Typically 20%+ down, priced off the property, and qualified on the property's rental revenue — projected STR income included — rather than your personal income. No personal-use restrictions: rent it 50 weeks, block your own July, run it like the business it is. Best when the income is the point.
Occupancy rules matter: misrepresenting a rental property as a second home is occupancy fraud. If you want unrestricted rental use, the DSCR route exists precisely so you don't have to stretch the truth.
Appreciation & Exit
The hold case in Big Bear Lake
Big Bear Lake has appreciated roughly 20% over the past five years — well ahead of typical national pace. That kind of run doesn't repeat on schedule, but it tells you demand for this market survived rate hikes that froze lesser vacation towns.
Exit liquidity in vacation markets is buyer-pool-dependent: you're selling to the next investor or second-home buyer, both of whom shop with the same seasonality and regulation facts you're reading now. A property with a transferable permit, a documented revenue history, and a real off-season strategy sells like an asset; one without them sells like a house.
Verdict — conditional
Worth pursuing — with conditions
- —Coverage is thin but real: roughly a 1.08 DSCR on the median deal. Buy below the median or put 25% down and the coverage question goes away.
- —Seasonality: Twin peaks (ski season Dec-Mar and lake summer Jun-Aug) with soft, low-occupancy shoulders in spring and late fall.
Pursue it with: a below-median entry price or 25–30% down to put real cushion in the coverage. Get those right and this is a buy, not a pass.
Seasonality: Twin peaks (ski season Dec-Mar and lake summer Jun-Aug) with soft, low-occupancy shoulders in spring and late fall.
Data as of June 2026 — refreshed periodically. Town-level estimates for screening, not underwriting; verify comps, permits, and insurance quotes on the specific property.
Next Step
Get a quote from an STR expert who lends in California
Real pricing on your actual deal — second-home and DSCR routes compared side by side, qualified on the property's income, no hard credit pull to see numbers.
Big Bear Lake vacation rental FAQ
Is Big Bear Lake a good place to buy a vacation rental?
It's worth pursuing — with conditions. Big Bear Lake, CA projects roughly $53,400 a year gross (9.4% gross yield, est. 1.08 DSCR on the median deal at 20% down), but coverage on the median deal is thin, so buy below median or bring more equity. Get that condition right and the market rewards it (June 2026 estimates).
Can I make money on Airbnb in Big Bear Lake?
The market math says yes: $385 ADR × 365 nights × 38% occupancy ≈ $53,400 a year ($4,450/month) gross before operating costs. Against an estimated $4,125/month PITIA on the median $570,000 purchase, that's roughly a 1.08 DSCR — workable, but pick your property carefully. Twin peaks (ski season Dec-Mar and lake summer Jun-Aug) with soft, low-occupancy shoulders in spring and late fall.
Can a Big Bear Lake property double as a second home?
Yes — and the dual-use case is much of the appeal. The closest true ski-and-lake town to 20M+ Southern Californians — a 2-hour drive makes spontaneous weekend use realistic. Two financing routes: a second-home conventional loan (as little as 10% down with owner-occupied-adjacent rates, but lenders impose personal-use and rental-day limits) or a DSCR investment loan (20%+ down, qualifies on the property's rental income, no personal-use restrictions). Most buyers choosing between them are really choosing between maximum leverage and maximum rental flexibility.
Run the numbers yourself
Calculator
STR calculator — pre-filled for Big Bear Lake
ADR, occupancy, and median price loaded. Adjust to your deal.
Market Profile
Big Bear Lake on our investor leaderboards
The monthly-refreshed DSCR/STR market profile for the same town.
Live Data
Market data dashboard
10Y Treasury, indicative STR rate ranges, and the full leaderboards.
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