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Keystone Real Estate / Short-Term Rental Guide

2026 Keystone Colorado Short-Term Rental Rules & Real Estate Guide

Keystone has the most open short-term rental framework in Summit County. No cap. No waitlist. No limit on rental nights. And the lowest STR tax rate of any incorporated town in the county at 8.375%. If you want the clearest path to an STR license in Summit County right now, Keystone is it.

Written by Tucker Zimmerman, Associate Broker, Slifer Smith & Frampton — Summit County, Colorado
303-907-9129  |  TZimmerman@SliferSummit.com

Updated July 2026   Verified against Town of Keystone official sources

License Cap

No Cap

No waitlist. Apply after closing.

Tax Rate

8.375%

Lowest in Summit County.

Annual Fee

$285

Lowest license fee in Summit County.

Night Cap

None

Rent as many nights as demand allows.

The Short Answer

Yes, you can Airbnb a Keystone property. No cap, no waitlist, no limit on rental nights. Apply after closing and get licensed. The tax rate at 8.375% is the lowest of any incorporated town in Summit County. The license fee at $285 is the lowest in the county. And Airbnb and VRBO handle tax collection automatically for Keystone.

This is a relatively new framework. Keystone became Colorado's newest incorporated municipality on February 8, 2024, and took over STR licensing from Summit County on September 30, 2024. Before that, properties were licensed under Summit County's Resort Overlay Zone, which was already one of the most permissive STR environments in the county. The transition to town-administered licensing did not restrict access, it simplified it.

One thing to confirm on any specific property: not every address with "Keystone" in it is inside the Town of Keystone. Properties outside town limits fall under unincorporated Summit County rules, which are different. Use the Summit County GIS tool to confirm before assuming town rules apply. For the full countywide comparison, see my Summit County STR regulations guide.

Evaluating a specific Keystone property? I can confirm town limits, walk through the STR picture, and help you think through the full investment before you make an offer. 303-907-9129  or  TZimmerman@SliferSummit.com

Colorado's Newest Town — and What That Means for STR Buyers

Keystone incorporated as a municipality on February 8, 2024, becoming Colorado's newest town. Before that it was part of unincorporated Summit County, and all STR licensing was handled by the county under its Resort Overlay Zone framework. On September 30, 2024, the Town took over its own licensing under Ordinance 2024-O-07.

For buyers, the transition was a positive one. The Resort Overlay Zone that governed Keystone under Summit County was already highly permissive: no cap, no night limit, 100% of properties eligible. The Town's own framework maintained all of that and added a cleaner local administration structure. A 2% lodging tax passed by voters in November 2024 and took effect January 1, 2025.

The result is a town that was purpose-built around resort use from the start, has no legacy neighborhood-versus-tourism political tension, and has set up its STR framework to be as accessible as possible. That is a meaningfully different context than towns like Frisco or Breckenridge where STR rules emerged from conflict.

Source: Town of Keystone: Short-Term Rentals

Confirm the Property Is Inside Town Limits

The Town of Keystone has specific incorporated boundaries. Not every property with a Keystone mailing address is inside those boundaries. Properties outside town limits fall under unincorporated Summit County STR rules, which include the Resort Overlay Zone for some areas and Neighborhood Overlay restrictions for others.

The Summit County GIS tool is the fastest way to confirm. Enter the address, check the Jurisdiction field. If it says Town of Keystone, this page applies. If it says unincorporated Summit County, different rules govern the property. I confirm this on every STR-focused Keystone purchase I work on.

Keystone STR Licensing: The Full Picture

License cap None. 100% of properties in town limits eligible.
Waitlist None. Apply after closing.
Annual license fee $285 per year
License expiration September 30 each year, regardless of when issued
Renewal window September 1 to September 30 each year
Auto-renewal No. Must be actively renewed annually.
License transfer on sale No. Non-transferable. New owner applies after closing. No wait.
Night cap None. Rent as much as demand supports.
Occupancy (houses, duplexes, townhomes) 2 per bedroom plus 4, or 1 per 200 sq ft, whichever is greater
Responsible Agent Required. Can be the owner or a property management company.
Licensing authority Town of Keystone (since September 30, 2024)
Good Neighbor Guidelines Required to be displayed in every rental unit
Parking diagram Required for single-family, duplex, and townhome applications (Ordinance 2025-O-14)

Source: Town of Keystone: Short-Term Rentals

Source: Town of Keystone: STR Guidelines

The License Does Not Transfer on Sale

Same rule as every Summit County jurisdiction. The seller's license terminates when the property changes hands. The new owner applies fresh after closing. In Keystone, because there is no cap and no waitlist, this is simply a paperwork step. Apply, pay $285, and you are licensed. No queue, no uncertainty about availability.

A listing with strong rental history tells you what the current owner accomplished. It does not tell you what you will earn while the application is processing, which is a short window in Keystone given the straightforward process.

Taxes: 8.375% — The Lowest in Summit County

Keystone's 8.375% total STR tax rate is the lowest of any incorporated municipality in Summit County. For comparison: Dillon is 19.875%, Silverthorne is 16.375%, Frisco is 15.725%, and Breckenridge adds per-bedroom regulatory fees on top of taxes. Keystone's rate reflects a town that was built around tourism and has not layered on additional excise taxes.

Like all Summit County taxes, this is collected from guests on top of the nightly rate. It is not deducted from owner revenue. Guests pay it at checkout the same way they would pay a hotel tax.

Tax Component Rate Remitted To
State and county sales tax 6.375% Colorado Department of Revenue
Town of Keystone lodging tax (eff. Jan 1, 2025) 2.0% Town of Keystone via Caselle Community Portal
Total 8.375%  
Airbnb and VRBO handle the tax collection automatically for Keystone. Unlike Blue River where owners must remit the town portion themselves, the Town of Keystone has agreements with major platforms to collect and remit on your behalf. This reduces the administrative burden significantly for owners who book primarily through platforms.

Source: Town of Keystone: Short-Term Rentals

Want to model the STR income potential on a specific Keystone property? I can help you think through realistic revenue, the licensing timeline, and how Keystone compares to other options. 303-907-9129  or  TZimmerman@SliferSummit.com

Why Keystone Is the Most STR-Friendly Market in Summit County

Take every restriction that makes other Summit County towns complicated and remove it from Keystone. No cap. No waitlist. No night limit. Lowest taxes. Lowest fees. Ski-in ski-out access at multiple base areas. That is the Keystone STR story in one paragraph.

Purpose-built resort with STR at its core

Keystone was developed as a resort community from the beginning. Short-term rentals are not a contested use fighting against residential character. They are how the resort has functioned for decades. The regulatory framework reflects that reality.

Ski-in ski-out access at multiple base areas

River Run Village and Mountain House base areas both have genuine ski-in ski-out or ski-to-door properties. That access drives premium nightly rates and strong winter occupancy that most Dillon or Silverthorne properties cannot match.

Proximity to Arapahoe Basin

A-Basin is minutes from Keystone and has one of the longest ski seasons in Colorado, often open into June. That extends the winter rental season meaningfully beyond what Breckenridge or Frisco can offer guests who want late-season skiing.

Year-round resort programming

Keystone runs festivals, concerts, and events through the summer on top of the ski season. The mountain biking, hiking, and lake access at Keystone Lake add summer demand that keeps the rental calendar busy beyond November through April.

What I Look at Before Recommending a Keystone STR Purchase

The STR licensing framework is the clearest in Summit County. The due diligence still matters on the property itself.

  • Is the property confirmed inside Town of Keystone limits, or does it just have a Keystone address?
  • Is it ski-in ski-out, ski-to-shuttle, or drive-to-ski? That distinction affects nightly rates significantly.
  • Does the HOA allow short-term rentals? Keystone has a mix of condo buildings and some have their own rental restrictions worth confirming.
  • Does the building have a front desk or rental management program that competes with your own rental operation?
  • Does the parking situation support the required parking diagram for single-family, duplex, or townhome applications?
  • Does the layout, sleeping configuration, and amenities match what the group rental market wants?
  • Does the property still make sense as a personal retreat if the rental income is lower than projected?

How Keystone Compares to Other Summit County STR Markets

Town Cap Status Tax Rate Night Limit
Keystone No cap, no waitlist 8.375% None
Dillon No cap, no waitlist 19.875% None
Silverthorne Zone 2 299 licenses available 16.375% None
Frisco Waitlist, 12-14 months 15.725% None
Breckenridge Zone 1 455 licenses available ~12.275% + reg. fee None
Blue River Moratorium through Dec 2026 12.275% None

Full countywide comparison: Summit County Short-Term Rental Regulations Guide

Is Keystone a Good Airbnb and Vacation Rental Market?

It is the most operator-friendly incorporated STR market in Summit County right now. No cap, no waitlist, no night limit, lowest taxes, lowest fees, ski-in ski-out access, and a Town that understands its identity as a resort community. For buyers who want the fewest regulatory obstacles, Keystone is the answer.

Keystone is a strong fit if:

  • You want the clearest STR licensing path in Summit County
  • Ski-in ski-out or ski-to-door access matters to your rental strategy
  • You want the lowest taxes and fees in the county
  • Year-round resort programming and summer demand appeals
  • You want no night cap and maximum rental flexibility
  • The property also works as a personal ski-retreat

Worth thinking through if:

  • The property is outside town limits and you have not confirmed jurisdiction
  • The building has a mandatory rental program that limits your flexibility
  • The HOA has STR restrictions not reflected in the listing description
  • You want a large private home rather than resort-style condo inventory
  • Walkable Main Street or Lake Dillon access matters more than ski access

Common Questions

Can I Airbnb a property in Keystone Colorado?

Yes. No cap, no waitlist, no night limit. Apply after closing and get licensed. Keystone is the most open STR market in Summit County right now.

When did Keystone become its own town?

February 8, 2024. It is Colorado's newest incorporated municipality. Before that it was part of unincorporated Summit County. The Town took over STR licensing from Summit County on September 30, 2024.

What is the STR tax rate in Keystone?

8.375% total — the lowest of any incorporated municipality in Summit County. Collected from guests on top of the nightly rate. Airbnb and VRBO collect and remit automatically for Keystone bookings.

Does a Keystone STR license transfer when a property sells?

No. The license terminates at closing. Because there is no cap or waitlist, the new owner applies after closing and the process is straightforward.

How much does a Keystone STR license cost?

$285 per year — the lowest annual STR license fee in Summit County. Licenses expire September 30 and must be renewed annually during the September 1 to September 30 window.

Is there a limit on rental nights in Keystone?

No. Rent as many nights as demand supports. No annual booking limit.

What is the occupancy limit for Keystone STR properties?

For single-family homes, duplexes, and townhomes: 2 per bedroom plus 4, or 1 per 200 square feet of living area, whichever allows greater occupancy. In buildings with narrower egress and no sprinkler system the limit is 2 per bedroom plus 2.

Is every property with a Keystone address inside the Town of Keystone?

No. The town has specific boundaries. Confirm with the Summit County GIS tool before assuming Town of Keystone rules apply.

Do HOA rules restrict STRs in Keystone?

Some buildings have their own rental restrictions or mandatory rental programs that affect how you operate. Always review HOA documents during due diligence and confirm the building's specific policies before making an offer on any STR-intended property.

What is the renewal window for Keystone STR licenses?

September 1 to September 30 each year. All licenses expire September 30. If you miss the renewal window, you must apply as a new applicant. The town does not auto-renew.

Thinking About a Keystone Purchase?

Keystone's STR framework is genuinely the most buyer-friendly in Summit County. The licensing is straightforward, the taxes are the lowest in the county, and the resort infrastructure supports strong rental demand year-round. The due diligence is on the specific property, the building, and the HOA, not on navigating a complex regulatory maze.

I can confirm town limits on any specific address, walk through the building's HOA rental policies, and help you evaluate whether the property's location, ski access, and layout support the rental income you are projecting.

Tucker Zimmerman
Associate Broker, Slifer Smith & Frampton
303-907-9129 (call or text)
TZimmerman@SliferSummit.com
SoldInSummit.com

Related Resources


Disclaimer: Short-term rental rules, license requirements, fees, taxes, renewal deadlines, and enforcement policies change. This page is for general informational purposes only and is not legal, tax, or financial advice. Always verify current requirements directly with the Town of Keystone and qualified legal and tax professionals before making any purchase or licensing decision. Tucker Zimmerman is a licensed Colorado real estate broker with Slifer Smith & Frampton.

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