Franklin, North Carolina Short-Term Rental Market
Franklin, NC STRs averaged $210/night at 44.3% occupancy in April 2026, with revenue up 5.7% year-over-year.
Quick Answer: Franklin, North Carolina is an active short-term rental market. average occupancy is 58%. average monthly revenue is $3,793. average daily rate is $251. the top operator is Evolve with 723 listings. market score is 70/100 (grade B).
Market data reflects the North Carolina Mtns regional market, which includes Franklin. Regulations, taxes, and permit details below are specific to Franklin.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Franklin is the seat of Macon County in the Smoky Mountains of western North Carolina, marketed as the Gem Capital of the World. At a town population of approximately 4,300, it punches well above its size as an STR market, drawing Southeast drive-market leisure travelers for gem mining in the Cowee Valley, outdoor recreation in the Nantahala National Forest, and the late-July Macon County Gemboree.
In April 2026, the average daily rate was $210 and occupancy was 44.3%, producing RevPAR of $93. Year-over-year, occupancy grew 3.2%, ADR was essentially flat (+0.4%), and revenue increased 5.7%. The listing inventory is dominated by entire-place rentals (12,067 units) with 303 private rooms and no measurable shared-room supply. By bedroom count, 2-bedroom units lead at 3,814, followed by 3-bedroom (3,371), 1-bedroom (2,991), 4-bedroom (1,418), and 5-bedroom-plus (761). Channel distribution shows 3,366 Airbnb-only, 1,461 VRBO-only, and 7,543 on both platforms, indicating a heavily multi-channel market where VRBO holds a notably larger share relative to most non-resort markets. The investability score of 81.0/100 reflects low entry costs and consistent rental demand against a light regulatory backdrop.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 32% | $183 | $1,842 |
| Feb | 41% | $181 | $1,882 |
| Mar | 47% | $187 | $2,363 |
| Apr | 47% | $194 | $2,450 |
| May | 49% | $205 | $2,533 |
| Jun | 61% | $230 | $3,558 |
| Jul | 68% | $226 | $4,163 |
| Aug | 56% | $218 | $3,422 |
| Sep | 49% | $207 | $2,750 |
| Oct | 61% | $212 | $3,426 |
| Nov | 49% | $213 | $2,819 |
| Dec | 46% | $208 | $2,732 |
Top Short-Term Rental Operators in Franklin
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 723 | 35,109 | ★ 4.76 |
| 2 | Vacasa | 454 | 17,037 | ★ 4.47 |
| 3 | Yonder | 119 | 3,777 | ★ 4.71 |
| 4 | Rumbling Bald Resort | 112 | 415 | ★ 4.35 |
| 5 | Bryson City Cabin Rentals | 112 | 1,400 | ★ 4.65 |
What Kind of STR Should I Buy in Franklin?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,991 |
| 2 bed | 3,814 |
| 3 bed | 3,371 |
| 4 bed | 1,418 |
| 5 bed | 761 |
ADR by Property Tier
| Entire Home | $253 |
| Luxury | $433 |
| Professionally Managed | $290 |
Revenue by Dwelling Type
| Apartment | $2,628 |
| Entire Place | $3,843 |
| House | $4,036 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 27.2% |
| vrbo | 11.8% |
| both | 61% |
Investment Analysis
Franklin’s investment case rests on low acquisition costs relative to revenue potential in a mountain leisure market. The typical home value is $299,000, with a median sale price of $294,000 and median list price of $362,000. At April 2026 revenue of $2,508/month, a listing yields annualized gross revenue of approximately $30,102, representing a gross yield of roughly 10.1% on a typical-priced acquisition.
Houses outperform the market average: $2,651/month versus $2,541 for entire-place listings and $1,762 for apartments. The professionally managed tier commands $243/night versus $210 for all listings, a 16% premium, suggesting professional management delivers measurable rate authority. The luxury tier reaches $358/night. Revenue has been broadly stable since 2022, ranging from $2,959 to $3,032/month on an annual average basis in 2023 through 2025. The 2020-2021 pandemic period saw a notable spike to $3,042 and $3,442/month respectively, reflecting mountain market demand surge. The market’s rental demand score of 59.4/100 is the softest dimension, signaling that occupancy softness (44.3% in April) is real and operators must work harder on pricing and calendar optimization than in higher-demand markets.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Franklin guests book approximately 49 days in advance, and the average length of stay is 3.7 nights. The 49-day lead time is consistent with a planned leisure mountain destination where guests book trips around seasonal events like the Gemboree (late July) and fall foliage. The 3.7-night average stay is typical for a mountain cabin market where guests combine outdoor recreation, gem mining, and nearby attractions into multi-day visits. Operators should focus pricing pressure on the Friday-to-Monday window, which drives the bulk of mountain leisure demand, while using dynamic pricing to capture longer mid-week bookings during July and October peak periods.
Short-Term Rental Regulations
Franklin, NC operates in a light-touch regulatory environment for short-term rentals. North Carolina does not require a statewide STR license, leaving rules to local zoning. No town-specific STR registration permit, maximum-nights cap, or owner-occupancy requirement was confirmed in available primary sources for the Town of Franklin. Land use is governed by the Town of Franklin Unified Development Ordinance (Chapter 152), which controls where lodging uses are permitted by zoning district. Investors should verify the specific zoning treatment for their parcel with the Town of Franklin Planning and Zoning Department; properties outside town limits are subject to Macon County Planning rules.
The primary compliance obligation is the lodging tax stack: the Town of Franklin levies a 3% Room Occupancy Tax that explicitly applies to rentals through platforms including Airbnb and VRBO for stays under 90 consecutive days. Macon County levies an additional 3% Room Occupancy Tax. North Carolina’s 6.75% state and local sales and use tax also applies. Operators must register to collect and remit these taxes monthly by the 20th of the month. Enforcement is classified as minimal. No recent STR ordinance changes were confirmed in available sources.
Market Comparison
At $210 ADR and 44.3% occupancy, Franklin sits near the US STR median ADR of approximately $220 and below the median occupancy range of 50-60% for established leisure markets. The occupancy gap reflects both the market’s smaller size and the April snapshot, which falls in the shoulder season. RevPAR of $93 is consistent with a secondary mountain market.
Evolve leads the professional management landscape with 723 listings and 35,109 reviews at a 4.76 average rating, making it the largest operator in this market by a significant margin. Vacasa holds 454 listings with 17,037 reviews at a 4.47 rating. Yonder operates 119 listings at a 4.71 rating. Rumbling Bald Resort and Bryson City Cabin Rentals each manage 112 listings. Evolve and Vacasa together account for a substantial share of the approximately 12,370 listed properties, indicating a market where institutional management is well-established. The total market score of 70.1/100 reflects the combination of moderate demand, favorable regulation, and lower revenue growth in recent years.
Frequently Asked Questions About Franklin, North Carolina
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