Last updated: October 2024
Tennessee, known for its rich cultural heritage and scenic landscapes, offers prime opportunities for mid-term rental investments. The state’s diverse destinations, from the musical hubs of Memphis and Nashville to the natural beauty of the Great Smoky Mountains, attract a wide range of visitors year-round. This makes Tennessee a compelling market for investors looking to capitalize on mid-term rental properties.
Our guide highlights the top mid-term rental markets in Tennessee, focusing on key factors such as rental income, occupancy rates, and local attractions. By providing insights into these thriving markets, we aim to equip investors with the knowledge needed to make informed decisions and maximize their returns in Tennessee’s growing rental market.
Our advanced tool, Chalet Intel, delivers in-depth insights and strategies tailored for investors at all levels. It includes a robust calculator, regulation summaries, and extensive data for each discussed market. Our dashboard offers comprehensive data on both short-term and mid-term rentals, enabling you to make well-informed decisions. Links for each market are available for detailed individual analysis.
1. Memphis, Tennessee
Memphis, TN, is renowned for its rich musical heritage, including landmarks like Graceland and Beale Street, attracting music lovers from around the world.
Memphis has experienced a 1.0% increase in home values, with the average home price now at $185,195. The median annual revenue is $20,900, with a monthly rate of $1,900. With 407 full-time listings and a property tax rate of 1.25%, the gross yield is 14.48%.
For more comprehensive insights into Memphis as a rental market, explore Chalet Intel.
2. Sevierville, Tennessee
Sevierville, TN, located near the Great Smoky Mountains, is a popular destination for tourists seeking outdoor activities and winter sports at nearby ski resorts.
Sevierville has seen a 2.6% increase in home values, with the average price now at $369,668. The median annual revenue is $22,000, with a monthly rate of $2,000. With 510 full-time listings and a property tax rate of 0.37%, the gross yield is 5.95%.
For more insights into Sevierville as a rental market, explore the free Sevierville Airbnb Investor Guide and Sevierville Rental Regulations.
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3. Pigeon Forge, Tennessee
Pigeon Forge, TN, known for its family-friendly attractions and proximity to the Great Smoky Mountains, is a popular destination for tourists.
Pigeon Forge has seen a 3.1% increase in home values, with the average price now at $456,587. The median annual revenue is $22,000, with a monthly rate of $2,000. With 554 full-time listings and a property tax rate of 0.37%, the gross yield is 4.82%.
For more insights into Pigeon Forge as a rental market, explore the free Pigeon Forge Airbnb Investor Guide and Pigeon Forge Rental Regulations.
4. Gatlinburg, Tennessee
Gatlinburg, TN, is a popular gateway to the Great Smoky Mountains National Park, known for its vibrant tourism industry and beautiful mountain scenery.
Gatlinburg has seen an 8.0% decrease in home values, with the average price now at $478,241. The median annual revenue is $22,000, with a monthly rate of $2,000. With 554 full-time listings and a property tax rate of 0.37%, the gross yield is 4.60%.
For more insights into Gatlinburg as a rental market, explore Chalet Intel.
Each of these markets in Tennessee offers unique opportunities for mid-term rental investors, combining strong financial metrics with appealing tourist attractions. For a comprehensive overview, including detailed analyses, calculators, and regulation insights, make sure to explore our latest tool, Chalet Intel.
