Buy a vacation home

waterfall located in the smoky mountains

Smoky Mountains

A gateway to Great Smoky Mountains National Park in eastern Tennessee, Gatlinburg and Pigeon Forge give visitors a taste of Appalachia through experiences ranging from hiking and flyfishing to Dollywood. An affordable mountain market with humble roots and a flair for the extravagant, this region is all about upscale cabins with high-end attributes. Condos are available, but they don’t always rent well. Log cabins make the best vacation rentals here.

low laying clouds scattered throughout the smoky mountains in tennessee

Insider tip

Gatlinburg and Pigeon Forge command similar rental revenue. Worry less about which town and more about amenities when buying in this region. Guests want big views and luxury experiences that go beyond what might be considered the norm even in other high-end markets. Hot tubs and fireplaces are standard. Amenities that boost bookings in this Appalachian paradise include indoor pools, movie theaters, arcades, bowling alleys, miniature golf, and anything that caters to children (like custom bunks). Homes in this region are typically sold furnished and ready to rent.

Learn more and compare the Smoky Mountains with other top markets in our insider's guide to the best places to buy a vacation rental.

Market size

6,000+ rental units

Median annual rental revenue

$29,870

Median home price

$231,100

Cap rate

8.1%



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*This document is for information and illustrative purposes only. It is not intended to provide “investment advice” or a “recommendation” regarding a course of action. The discussion is general in nature and has not taken into account your personal financial position or objectives. You should consult a licensed financial advisor or other professional to discuss your specific situation.

Estimated rental income figures and home sale prices are based on historical averages; for any specific property, the actual revenue, purchase price, and cap rate may differ materially from estimated amounts and depend on a wide range of factors outside Vacasa's knowledge or control, such as the property's condition, layout, and furnishings; expenses associated with the acquisition and ownership of the property (such as property taxes, utility fees, HOA fees, insurance fees, and mortgage-related expenses); rental calendar availability; existing and future regulations; current and future economic, social, and political trends and conditions; and weather and environmental factors. These estimates do not take into account the potential impact of state income taxes.

Vacasa makes no representations or warranties, express or implied, about the accuracy of this document. Furthermore, Vacasa has no obligation to update, modify or amend this document or to otherwise notify users in the event that any opinion, assumption, forecast or estimate set forth herein changes or subsequently becomes inaccurate. Therefore, you should not place undue reliance on statements in this document.