Every buyer asks the same question: "What will this property actually earn?" I have been tracking rental data across Los Cabos communities for years, and the answer is more nuanced than the brochures suggest. Here is what real properties earn in real months — no cherry-picking, no hypothetical projections.
Key Takeaways
- March is the highest-revenue month — 80–90% occupancy, $350–$550 ADR for a 2BR condo
- September is the lowest — 30–45% occupancy, 30–40% discount from peak ADR
- Peak season (Nov–Apr) generates 65–75% of annual revenue in 6 months
- Off-season revenue still covers carrying costs for most owners
- Annual gross for a well-managed 2BR condo: $40,000–$70,000 depending on location
Want Revenue Projections for a Specific Property?
We model rental income by month for the actual property you are considering — not generic market averages.
Get a Revenue ProjectionLos Cabos Has Three Rental Seasons
Forget the binary "peak" and "off-season" framing. Cabo's rental calendar has three distinct periods, and understanding them is the difference between realistic projections and disappointment.
- Peak season (November–April): 70–90% occupancy. This is when American and Canadian snowbirds, holiday travelers, spring breakers, and golf enthusiasts flood the market. Average daily rates are at their highest. Six months, 65–75% of your annual revenue.
- Shoulder season (May, October): 50–65% occupancy. Weather is still excellent — May is warm and dry, October marks the end of hurricane season with beautiful post-rain green landscapes. Rates drop 15–25% from peak. Smart travelers know these are the best-value months.
- Off-season (June–September): 30–55% occupancy. Hotter, more humid, hurricane-season awareness keeps leisure travelers cautious. But not dead — July gets a bump from Mexican summer holidays and American families. Rates drop 30–40% from peak.
Month-by-Month Revenue: A 2BR Condo in a Resort Community
The following data represents a composite of actual 2025–2026 revenue for two-bedroom condos (1,200–1,500 sq ft) in resort-quality communities like Cabo del Sol, Diamante, Pedregal, and Quivira. Properties managed professionally with strong listing photography and 4.7+ guest ratings.
| Month | Occupancy | ADR | Gross Revenue | Season |
|---|---|---|---|---|
| January | 82% | $420 | $10,670 | Peak |
| February | 87% | $465 | $11,330 | Peak |
| March | 90% | $510 | $14,230 | Peak |
| April | 72% | $380 | $8,210 | Peak |
| May | 55% | $310 | $5,280 | Shoulder |
| June | 42% | $275 | $3,465 | Off |
| July | 50% | $295 | $4,570 | Off |
| August | 38% | $260 | $3,060 | Off |
| September | 32% | $240 | $2,310 | Off |
| October | 52% | $300 | $4,835 | Shoulder |
| November | 75% | $395 | $8,890 | Peak |
| December | 80% | $480 | $11,900 | Peak |
Annual gross total: ~$88,750 for a top-performing two-bedroom in a premium community. That is the ceiling. A more typical well-managed property in a mid-tier community grosses $45,000–$65,000.
Peak Season Deep Dive: November Through April
These six months generate the lion's share of your annual income. Understanding the micro-patterns within peak season helps you optimize pricing and personal-use scheduling.
November: The season opener. Snowbirds arrive after Thanksgiving. American Thanksgiving week itself commands premium rates — $500–$700/night for a two-bedroom. The first three weeks are softer as travelers wait for holiday travel to begin.
December: Two distinct peaks. Christmas week (Dec 20–Jan 2) is the single highest-revenue period of the year — properties book 6–12 months in advance at rates 40–60% above standard peak pricing. Early December is quieter and often available for personal use.
January–February: Sustained high demand from snowbirds on extended stays (2–4 weeks), golf travelers, and whale watching season visitors. January also benefits from the fishing tournament calendar. February sees Valentine's Day bookings and spring-break early-arrivals.
March: The peak of peaks. Spring break drives demand from both American and Mexican families. The WGC and other golf events pull high-net-worth travelers. Occupancy routinely hits 85–95% for quality listings. If you can only rent your property one month per year, make it March.
April: The wind-down. Easter week (when it falls in April) maintains premium pricing, but post-Easter sees a sharp drop-off as the season ends. Late April transitions to shoulder rates.
Maximize Your Rental Revenue
Our team connects you with the management companies that deliver the highest occupancy rates in Los Cabos. Let the data pick your partner.
Book a Revenue Strategy CallOff-Season Strategies That Work
The biggest mistake new Cabo owners make is shutting down their rental program from June through October. Yes, off-season revenue is lower. But it is not zero — and every dollar earned during off-season offsets carrying costs you would otherwise eat.
Strategies that boost off-season performance:
- Monthly rate discounts: Offer 30-night stays at 40–50% off the nightly rate. Remote workers and digital nomads book these. A two-bedroom at $150/night for 30 nights is $4,500 — better than zero with no turnover costs.
- Mexican holiday targeting: July sees strong domestic travel around Mexican summer holidays. Price in pesos for the domestic market and list on Mexican platforms like Despegar and Airbnb Mexico.
- Surf season marketing: The Pacific side — Cerritos, El Pescadero — gets its best waves June through October. Surf-specific listings pull a different traveler than the winter golf crowd.
- Reduced minimum stays: Drop from 5-night minimums to 2–3 nights during off-season to capture weekend getaways from mainland Mexico.
Location Matters More Than Season
The data consistently shows that a well-located property in off-season outearns a poorly-located property in peak season. A Pedregal condo with ocean views maintains 50%+ occupancy year-round. A generic inland condo in a non-resort community might hit 60% even in March.
The premium communities — Cabo del Sol, Diamante, Palmilla — command both higher ADR and higher occupancy because travelers specifically search for them. "Cabo del Sol condo Airbnb" is a search query. "Random Cabo condo" is not.
For a deeper look at which communities deliver the best rental ROI, start with the properties that have name recognition.
Management Company Impact on Revenue
A good management company adds 15–25% to your annual revenue compared to self-management. They handle dynamic pricing (adjusting rates daily based on demand, events, and competitor pricing), professional photography, multi-platform listing optimization, and guest communication in multiple languages.
Management fees run 20–25% of gross revenue. That sounds steep until you do the math: if professional management generates $60K gross vs $45K self-managed, and the fee is 25% of $60K ($15K), you still net $45K — same as doing it yourself, but without the 15 hours/week of guest communication and maintenance coordination. For a full guide, see our management company comparison.
Balancing Personal Use and Rental Income
Most buyers want to use their property personally AND generate rental income. The key is blocking your personal time strategically:
- Use during off-season: Block September (your lowest-revenue month) for personal use. You sacrifice $2,000–$3,000 in potential revenue but enjoy a beautiful, uncrowded Cabo.
- Use early December: The first two weeks of December are softer than Christmas week. Enjoy the holiday vibe without losing the $5,000–$8,000 Christmas week commands.
- Never block March: March is your money month. A two-week March block costs you $7,000–$10,000 in lost revenue.
The IRS treats a property used personally for more than 14 days (or 10% of rental days) as a personal residence, which changes your deduction calculus. Track your days carefully and consult a cross-border CPA.
Your Revenue Starts With the Right Property
Not every Cabo property rents well. We match your budget to the communities and property types that deliver consistent returns.
Find Your Investment PropertyFrequently Asked Questions
What is the best month for Cabo vacation rental income?+
March consistently produces the highest revenue for Cabo vacation rentals. Occupancy rates reach 80–90% in resort-quality properties, average daily rates (ADR) peak at $350–$550 for a two-bedroom condo, and the combination of spring break travel, snowbird season, and golf tournament traffic creates sustained demand. February and December (holiday weeks) are close seconds.
What is the worst month for Cabo rental income?+
September is the lowest-revenue month. Occupancy drops to 30–45% for most properties, and ADR falls 30–40% from peak rates. Hurricane season awareness keeps leisure travelers away, and school is in session. However, September is not zero — budget-conscious travelers, remote workers, and surf enthusiasts still book, and properties with pools and air conditioning maintain better occupancy than those without.
How much does a Cabo condo earn per year in rental income?+
A well-managed two-bedroom condo in a desirable community (Cabo del Sol, Diamante, Pedregal, Quivira) grosses $40,000–$70,000/year in vacation rental income. Net of management fees (20–25%), cleaning, maintenance, and platform fees, owners typically net $28,000–$50,000/year — a 6–10% return on a $400K–$600K property.
Do Cabo rentals stay occupied in summer?+
Summer (June–August) occupancy averages 45–60% — lower than peak but not empty. July sees a bump from Mexican national holidays and American families on summer vacation. Average daily rates drop 20–30% from winter highs but still generate meaningful revenue. Many owners block July for personal use and rent the other summer months.
Is it worth renting my Cabo property during the off-season?+
Yes, for most owners. Off-season revenue (May–October) typically accounts for 25–35% of annual income. Even at reduced rates and lower occupancy, the revenue covers HOA fees, utilities, and maintenance during months you are not using the property. Leaving it dark during off-season means eating six months of carrying costs with zero offset.
What occupancy rate should I expect for a Cabo vacation rental?+
Annual average occupancy for a well-managed, well-located Cabo vacation rental is 55–70%. Peak-season months (November–April) run 70–90%. Shoulder months (May, October) run 50–65%. Off-season (June–September) runs 30–55%. Properties with resort amenities, pools, and strong listing photography consistently outperform the averages by 10–15 percentage points.
Aaron Cuha
Real Estate Advisor & Los Cabos Market Expert
Real estate advisor and founder of Living In Cabo. 15+ years helping families navigate complex real estate decisions. Strategic partner with Ronival — Baja's largest brokerage.
