Gatlinburg, TN
Great Smoky Mountains gateway - year-round demand
Gatlinburg sits at the entrance to Great Smoky Mountains National Park - the most-visited national park in the US with 12M+ annual visitors. Unlike beach markets, Gatlinburg runs nearly year-round: peak summer hiking, fall foliage, winter ski/holiday, and spring wildflower season. Cabin inventory dominates, and the multi-season calendar keeps demand steadier than most mountain markets.
Across 501 active STR-viable listings analyzed this month, Gatlinburg shows a 2.7% median cap rate at a $575K median list price, 39% occupancy, and $215/night. That ranks #31 of 57 markets in STRROI's live ranking. At typical prices, cash flow is tight: most listings only pencil out with a large down payment, a below-list purchase, or above-market nightly rates.
Gatlinburg real estate market right now
As of October 19, 2026, STRROI is tracking 501 homes for sale in Gatlinburg that could run as short-term rentals, at a median list price of $574,900. The middle half are priced between $370K and $839K. That works out to a median of $359 per square foot for a typical 1,640 square foot home. Homes here have been on the market 81 days on average, shorter than the 101 days typical across the 56 markets in STRROI's ranking, so well-priced homes here tend to go quickly. 85 of them were listed in the last 30 days.
These numbers cover the homes for sale STRROI analyzes as potential short-term rentals in Gatlinburg, mainly ZIP 37738. They are not every home sale in the area, so they can differ from MLS-wide figures. Month-by-month price history starts Oct 2026 and fills in as the market is re-checked each month.
What's for sale in Gatlinburg right now
Of the 501 homes for sale we analyzed in Gatlinburg, 3 (1%) project positive monthly cash flow with 20% down at a 7.5% rate, and none rate Buy or better on STRROI's 1-10 scale. 2-bedroom homes are the most common (176 for sale, median $444K). Returns are strongest in 4-bedroom homes at a 3.2% median cap rate, and weakest in 1-bedroom homes at 1.8%. By property type, multi-family lead at a 6.6% median cap rate across 5 listings.
- Watch: 4
- Weak: 70
- Avoid: 427
| Beds | For sale | Median price | Cap rate |
|---|---|---|---|
| 1 | 63 | $309K | 1.8% |
| 2 | 176 | $444K | 2.7% |
| 3 | 152 | $650K | 2.6% |
| 4 | 58 | $782K | 3.2% |
| 5+ | 46 | $1.6M | 3.0% |
| Type | For sale | Median price | Cap rate |
|---|---|---|---|
| Single-family homes | 340 | $692K | 2.5% |
| Condos | 143 | $289K | 3.3% |
| Townhouses | 13 | $570K | 3.5% |
| Multi-family | 5 | $900K | 6.6% |
Top-ranked homes for sale in Gatlinburg this month
Scored 1-10 against real Airbnb comps. Addresses, photos and the full underwriting are in the app.
- #1Watch · 5/100 bd · 0 ba multi-family propertyZIP 37738 · listed at $240K
- Cap rate
- 7.2%
- Cash flow
- +$103/mo
- Nightly
- $100 at 39%
- #2Watch · 5/103 bd · 2 ba condoZIP 37738 · listed at $275K
- Cap rate
- 6.8%
- Cash flow
- +$8/mo
- Nightly
- $258 at 39%
- #3Watch · 5/1010 bd · 5 ba multi-family propertyZIP 37738 · listed at $1.5M
- Cap rate
- 6.6%
- Cash flow
- -$98/mo
- Nightly
- $540 at 39%
How Gatlinburg compares
Gatlinburg ranks #11 of 21 Southeast markets in STRROI's live ranking; St. Augustine leads the region with a median cap rate of 5.7%. Its 2.7% cap rate is 0.2 points below the 2.9% median across all 57 ranked markets, and its $575K typical list price is close to the Southeast median of $633K.
| Rank | Market | Cap rate | Typical price |
|---|---|---|---|
| #24 | Amelia Island, FL | 3.5% | $625K |
| #27 | Kissimmee, FL | 3.3% | $415K |
| #29 | Nashville, TN | 2.9% | $900K |
| #31 | Gatlinburg, TN | 2.7% | $575K |
| #32 | Pigeon Forge, TN | 2.6% | $450K |
| #40 | Destin, FL | 2.4% | $515K |
| #42 | Asheville, NC | 2.3% | $750K |
Rank is national, by median cap rate across active STR-viable listings. Cash flow uses STRROI's default financing assumptions. See the full ranking
Estimated Annual Performance
* Estimates based on market averages. Individual property performance varies. Always run a full underwriting analysis.
Why Investors Choose Gatlinburg
Gatlinburg STR investing, answered
Is Gatlinburg, TN a good short-term rental market?
Gatlinburg is a Southeast STR market with a 2.7% median cap rate, 39% annual occupancy, and $215/night across STR-viable listings, based on 501 active listings. It ranks #31 of 57 markets by median cap rate in STRROI's live ranking. This month none of its 501 homes for sale rate Buy or better.
What is the average Airbnb occupancy rate in Gatlinburg?
STR-viable properties in Gatlinburg average about 39% occupancy across the year. Peak season is Year-round (peaks: Oct foliage, Dec holidays). Occupancy here reflects availability-adjusted booking performance, not raw calendar occupancy, so it represents what a full-time operated rental can realistically achieve.
How much do short-term rentals earn in Gatlinburg?
At $215/night and 39% occupancy, a typical Gatlinburg STR grosses roughly $30,841 per year before expenses, leaving an estimated $18,505 in net operating income. Across analyzed listings the median cap rate is 2.7%. Individual results depend on property, amenities, and management.
What types of properties work best for STR in Gatlinburg?
Among homes for sale right now, 4-bedroom homes post the strongest median cap rate by size (3.2%), and multi-family lead by property type (6.6%). With guests, the best-performing STR types here are Cabin, Chalet, Condo. Matching the local guest profile and the amenities that drive bookings matters more than raw square footage.
How many homes for sale in Gatlinburg cash flow as an Airbnb?
3 of 501 STR-viable listings (1%) project positive monthly cash flow after the mortgage, assuming 20% down at a 7.5% rate on a 30-year loan. The top-ranked listing this month is a 0-bedroom multi-family property in ZIP 37738 listed at $240K, projecting a 7.2% cap rate and +$103 a month.
What is the median home price in Gatlinburg, TN right now?
The median list price of the 501 homes for sale STRROI tracks in Gatlinburg is $574,900, and the middle half are priced between $370K and $839K. The median price per square foot is $359. These are homes that could run as short-term rentals, mainly ZIP 37738, not every sale in the area. Against a 2.7% median cap rate, that price level sets the return baseline you'd underwrite against.
How long do homes stay on the market in Gatlinburg?
Homes for sale in Gatlinburg have been listed 81 days on average, shorter than the 101 days typical across the 56 markets in STRROI's ranking, so well-priced homes here tend to go quickly. 85 of them were listed in the last 30 days.
Market averages, not guarantees. Cap rates, occupancy, and nightly rates are market-wide averages based on active STR listings and historical data. Individual property performance depends on location, amenities, management, and listing quality. Always run a full underwriting analysis before purchasing.Stats sourced from 501 active listings · last updated Oct 19, 2026
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