Sevierville, TN, nestled in the heart of the picturesque Smoky Mountains, has become a sought-after destination for travelers seeking a charming retreat. With its stunning natural beauty and proximity to popular tourist attractions, Sevierville has witnessed a surge in the short-term (Airbnb) rental market.
In this guide post, we will delve into the key data points and provide insights into the current state of the Airbnb rental market in Sevierville, TN.
Market Overview
To understand the dynamics of the short-term rental market in Sevierville, let’s delve into some key statistics and figures.
Supply
AS of October 2024, the most popular homes are 1-bedroom homes, comprising 26.36% of inventory. This is followed by Studio and 2-bedroom homes at 20.60% and 20.32% of the total inventory, respectively.
Homes Appreciation
As of October 2024, according to Zillow, homes in Pigeon Forge experienced an appreciation of 0.38%. This data indicates a significant increase in property values.
Median Home Value
As of October of 2024, Homes in Sevierville have appreciated by 0.38%. The median home value in Sevierville is $375,411 as reported by Zillow. This figure highlights the city’s robust real estate market and the potential for long-term property appreciation.
Active Short Term Rentals
As of October 2024, Sevierville boasts a significant Airbnb rental market, with approximately 716 active rentals. This abundance of available properties provides ample opportunities for investors and homeowners looking to capitalize on the tourism demand.
Average Daily Rate
The median ADR for the market is $425. The Average Daily Rate is the highest for 5-bedroom homes $507, followed by 4-bedrooms and 3 bedrooms at $458 and $381 respectively.
Occupancy Rate
Chalet data reveals an occupancy rate of 56.95. for Airbnb rentals in Sevierville. This high demand ensures a consistent stream of income for property owners and investors.
How Profitable is Airbnb in Sevierville ?
As of October 2024, the average gross yield, which represents the annual income generated by a property as a percentage of its value, is 10.84% in Sevierville. This figure suggests that short-term rentals in the city offer a favorable return on investment. Sevierville is ranked #13 by return on investment on Airbnb rentals in the United States.
Annual Revenue
According to Chalet, short-term rentals in Sevierville earn an average of $40,709 annually, highlighting the strong investment potential in the city’s market. You can evaluate your properties using our free Airbnb calculator.
Hosts
The market is not dominated by property management firms. The largest host is Victoria with 4.87% of the total inventory and an average review of 4.77⭐️s .
Property Tax
According to SmartAsset, the average property tax in Sevierville is 0.37%. This relatively moderate tax rate is an important consideration for those looking to invest in short-term rental properties.
Guests
The majority of the guests in Sevierville come from Tennessee and are within driving distance. 2.85% of all guests are from Nashville followed by Chicago with 2%.
Regulations
Sevierville’s short-term rental regulations are somewhat investor-friendly, with different zoning regulations and limitations in place. Understanding these regulations is crucial for potential investors to ensure compliance and a smooth operation.
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Median Household Income
The median household income in Sevierville, TN, is an important factor to consider for property owners and investors. Unfortunately, the specific data for median household income in Sevierville is not available in the given information.
Climate
Sevierville, TN, experiences a humid subtropical climate. Summers are typically warm and humid, with temperatures ranging from the 70s to 90s Fahrenheit (20s to 30s Celsius). Winters are generally mild, with temperatures averaging in the 40s and 50s Fahrenheit (5 to 10 degrees Celsius). The area also receives a moderate amount of rainfall throughout the year.
Population Size
As of my knowledge cutoff in September 2021, the population size of Sevierville, TN, was approximately 17,000 residents. It’s important to note that population numbers may have changed since then, and it is recommended to refer to the latest official sources for the most accurate data.
Sports Teams
Sevierville, TN, does not host any major professional sports teams. However, the city is close to Knoxville, which is home to the University of Tennessee’s sports teams, including the Tennessee Volunteers.
Colleges
Sevierville, TN, does not have any colleges or universities within its city limits. However, the nearby city of Knoxville is home to the University of Tennessee, which offers a wide range of educational opportunities.
Crime Rate
Unfortunately, specific data regarding the crime rate in Sevierville, TN, is not provided in the given information. For the most accurate and up-to-date crime statistics, it is recommended to refer to official sources such as local law enforcement agencies or government websites.
Visitor Demographics and Numbers
Sevierville, TN, attracts visitors from various locations. While the exact breakdown of visitor demographics and sources is not specified, the city’s popularity among tourists is evident from the high number of short-term rentals and the healthy occupancy rates.
Tourist Attractions
Sevierville, TN, boasts several popular tourist attractions that entice visitors throughout the year. Some of the notable attractions include:
- Great Smoky Mountains National Park: Known for its breathtaking natural beauty, hiking trails, and scenic drives, the national park is a must-visit destination.
- Dollywood: Owned by country music legend Dolly Parton, Dollywood is a renowned theme park offering thrilling rides, entertainment shows, and cultural experiences.
- Tanger Outlets Sevierville: Shopaholics can indulge in a wide range of brand-name stores and enjoy discounted shopping at this popular outlet mall.
- Titanic Museum Attraction: Visitors can explore the history and artifacts of the RMS Titanic through interactive exhibits and displays.
- The Island in Pigeon Forge: Located nearby, this entertainment complex features shopping, dining, live music, and family-friendly attractions.
Peak Season
The peak season in Sevierville, TN, typically occurs during the summer months when families take vacations and enjoy outdoor activities. Additionally, the fall season attracts visitors for the beautiful autumn foliage in the Great Smoky Mountains. It’s important to note that peak seasons may vary based on local events, holidays, and festivals, so it is advisable to check the latest information and plan accordingly.
Conclusion
Sevierville, TN, presents a thriving short-term rental market with encouraging financial prospects for property owners and investors. The data points, including home appreciation, median home value, rental rates, occupancy rates, and revenue figures, indicate the area’s potential as a lucrative investment opportunity. While specific information about median household income, climate, population size, sports teams, colleges, crime rate, visitor demographics, and exact visitor numbers was not provided, Sevierville’s appeal as a tourist destination is evident from the multitude of attractions and high demand for short-term rentals. By considering the available data and understanding the local regulations, individuals can make informed decisions and capitalize on the opportunities presented by the short-term rental market in Sevierville, TN.
