Southeast9.7% avg cap rate

Pigeon Forge, TN

Smoky Mountain gateway — cabins and family demand

Pigeon Forge sits just outside Great Smoky Mountains National Park, offering the perfect mix of family attractions (Dollywood, Titanic Museum) and mountain cabin escapes. The STR market here is dominated by large cabin inventory with hot tubs, game rooms, and mountain views. Year-round demand patterns mirror Gatlinburg, with some of the highest occupancy rates in the Southeast.

9.7%
Avg Cap Rate
Net operating income / price
76%
Avg Occupancy
Annual average
$285
Avg Nightly Rate
All property types
$395K
Median Price
STR-viable properties

Estimated Annual Performance

Gross rental revenue
76% occ × $285/night
$79,059
Est. operating expenses
Mgmt, cleaning, supplies, insurance (~40%)
– $31,624
Est. net operating income
Before mortgage & depreciation
$47,435
At median price
Implied cap rate
12.0%

* Estimates based on market averages. Individual property performance varies. Always run a full underwriting analysis.

Why Investors Choose Pigeon Forge

Dollywood draws 3M+ visitors annually
Cabin with hot tub earns 30-50% more than comparable home
Year-round demand — winter holiday and spring break strong
Lower entry prices than Gatlinburg with comparable returns
Peak season: Year-round (Oct foliage, Dec holidays, summer)
Top property types: Cabin, Chalet, Log Home
Primary zip: 37863, 37862, 37764

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.

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