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.
Overview of the Airbnb Rental Market
Home Appreciation and Median Home Value
According to Zillow, the real estate market in Sevierville has seen positive growth, with homes appreciating by 2.60%. The median home value stands at $369,668, indicating a healthy market for property owners and potential investors.
Supply
The most popular homes are 2-bedroom homes, comprising 26.12% of inventory. This is followed by 1 and 3-bedroom homes at 20.62% and 20.60% of the total inventory, respectively.
Return on Investment
With an average gross yield of 20.29%, Airbnb rentals in Sevierville offer a promising return on investment for property owners. This figure showcases the profitability of investing in the vacation rental industry in this thriving location.
Average Daily Rate
The median ADR for the market is $356.20. The Average Daily Rate is the highest for 7-bedroom homes ($596) followed by 6-bedrooms and 5 bedrooms at $548 and $492 respectively.
Regulations and Zoning
Sevierville’s short-term (Airbnb) rental market operates under investor-friendly regulations. However, it is essential to understand the zoning regulations and limitations imposed by local authorities to ensure compliance with the rules and regulations.
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Responding to Key Questions
Now that we have explored the Airbnb rental market in Sevierville, let’s address some key questions about the area to provide a comprehensive overview.
Hosts
The market is dominated by property management firms. The largest host is Justin with 3.47% of the total inventory and an average review of 4.96 ⭐️s .
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.
Guests
The majority of the guests come from inside of Tennessee 2.42% of all guests are from Nashville followed by Chicago with 1.63%.
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.
