Fort Smith, Arkansas Short-Term Rental Market
Fort Smith STRs averaged $159/night at 44.0% occupancy in April 2026, with a total market score of 85.1 out of 100.
Quick Answer: Fort Smith, Arkansas is an active short-term rental market. average occupancy is 44%. average monthly revenue is $1,961. average daily rate is $159. the top operator is Evolve with 434 listings. market score is 85/100 (grade A).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Fort Smith is a regional city in western Arkansas on the Oklahoma border, anchored by history, outdoor recreation, and convention tourism. Its short-term rental market is smaller and more affordable than better-known Arkansas markets, with approximately 6,875 active listings based on bedroom-segment counts, almost entirely in the entire-place category (6,660 listings, or 97% of the market). Private rooms account for 219 listings and shared rooms are negligible at one.
In April 2026, the market posted an average daily rate of $159, occupancy of 44.0%, and a RevPAR of $70. Year-over-year, occupancy improved 5.1 percentage points and revenue grew 4.6%, even as ADR slipped 1.8%. This combination, rising occupancy with slight rate compression, suggests the market is broadening its guest base rather than raising prices.
Channel distribution shows 3,238 listings active on both Airbnb and VRBO, 3,041 Airbnb-only, and 601 VRBO-only, indicating a more Airbnb-dominant market relative to VRBO than coastal leisure markets. The bedroom mix is notably balanced: 1,997 one-bedrooms, 2,014 two-bedrooms, 1,921 three-bedrooms, 647 four-bedrooms, and 296 with five or more bedrooms. The market’s total score of 85.1 out of 100 and investability score of 96.5 out of 100 reflect strong underlying economics relative to the low entry cost.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 32% | $132 | $1,364 |
| Feb | 40% | $132 | $1,298 |
| Mar | 51% | $153 | $2,029 |
| Apr | 43% | $151 | $1,813 |
| May | 49% | $161 | $2,038 |
| Jun | 57% | $176 | $2,694 |
| Jul | 57% | $178 | $2,879 |
| Aug | 44% | $163 | $2,085 |
| Sep | 42% | $155 | $1,800 |
| Oct | 50% | $156 | $2,184 |
| Nov | 45% | $152 | $1,890 |
| Dec | 38% | $146 | $1,697 |
Top Short-Term Rental Operators in Fort Smith
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 434 | 17,398 | ★ 4.78 |
| 2 | Arkansas Vacation | 38 | 768 | ★ 4.74 |
| 3 | King Rhodes | 32 | 413 | ★ 4.75 |
| 4 | Buffalo Outdoor Center | 27 | 308 | ★ 4.91 |
| 5 | Ivy Vacations | 25 | 3,144 | ★ 4.90 |
What Kind of STR Should I Buy in Fort Smith?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 1,997 |
| 2 bed | 2,014 |
| 3 bed | 1,921 |
| 4 bed | 647 |
| 5 bed | 296 |
ADR by Property Tier
| Entire Home | $161 |
| Luxury | $295 |
| Professionally Managed | $197 |
Revenue by Dwelling Type
| Apartment | $1,373 |
| Entire Place | $1,988 |
| House | $2,090 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 44.2% |
| vrbo | 8.7% |
| both | 47.1% |
Investment Analysis
Fort Smith’s investment case centers on a very low acquisition cost relative to rental income. The typical home value was $195,664 as of April 2026 (Zillow estimate). With April 2026 average monthly revenue of $1,961 and annualized revenue of approximately $23,535, the implied gross yield is roughly 12.0% before operating expenses. That yield is computed from a single month’s data; the 2025 annual average revenue of $2,119/month implies a similar gross yield of approximately 13.0% on the same home value.
Tier differentiation is meaningful. Entire-home listings average $160.64/night versus $158.61 for all listings. Professionally managed properties average $197.47/night, a 24% premium. Luxury-tier properties average $295.37/night, roughly 86% above the market average.
Revenue by property type: houses averaged $2,090/month in April 2026, entire-place units averaged $1,988, and apartments averaged $1,373, a 34% gap below the house average. This suggests single-family homes in Fort Smith generate meaningfully better STR income than multi-unit apartment properties.
The market’s longer-term trend shows revenue growing from $1,459 annual average in 2017 to $2,119 in 2025, a 45% cumulative increase. The investability score of 96.5 out of 100 is among the highest possible ratings, driven by the combination of low entry price, consistent demand growth, and light regulatory environment.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Fort Smith guests book an average of 39 days in advance as of April 2026, a notably shorter lead time than coastal vacation markets. This 5-to-6-week window reflects a drive-market and regional-event audience that plans trips on a shorter timeline than destination leisure travelers. Operators benefit from flexible pricing that adjusts more quickly in the final 30-day window before arrival, as many guests make decisions late.
Average length of stay is 3.68 nights, shorter than beach or mountain resort markets and consistent with a mix of event attendees, business travelers, and weekend-focused leisure visitors. Shorter stays mean higher turnover frequency, which increases cleaning and supply costs per occupied night. Operators should factor turnover costs carefully into minimum-stay policies and pricing, particularly for one- and two-bedroom units that may attract more transient bookings.
Short-Term Rental Regulations
Fort Smith has no dedicated STR-specific ordinance. Short-term rentals (stays under 30 days) are regulated through general business licensing and zoning rules. The city classifies STRs as a temporary use permitted in residential districts, and operators must confirm that their specific property’s zoning classification allows the use with the Planning and Development Department.
There is no published owner-occupancy requirement, no primary-residence rule, and no maximum nights per year cap. Operators are expected to obtain a city business license (general; no STR-specific permit type or published per-unit cost) on an annual renewal basis.
On taxes, Fort Smith’s 3% Advertising and Promotion (A&P) tax applies to stays of 29 nights or fewer, stacking on top of Arkansas’s 6.5% state sales tax and the 2% state tourism tax on lodging. The city’s combined local sales tax is approximately 9.5%. Hosts should register with both state and local tax authorities. Airbnb and VRBO typically collect and remit applicable taxes on transactions through their platforms, but hosts using other booking channels must handle registration and remittance independently.
Enforcement is minimal, handled through standard business-license and zoning oversight without a dedicated STR inspection program.
Market Comparison
Fort Smith’s April 2026 ADR of $159 sits well below the US STR median of approximately $220/night, consistent with an inland, non-destination market with a lower cost of living. However, the gross yield profile (approximately 12% on the typical home value of $195,664) compares favorably to higher-cost markets where ADRs are higher but acquisition costs are proportionally much larger.
The 44.0% occupancy rate trails the US median of approximately 55%, though the year-over-year improvement of 5.1 percentage points suggests the market is trending in the right direction. The 5.1 point occupancy gain is faster than most comparable markets.
Professional management is concentrated. Evolve leads with 434 listings, 17,398 reviews, and a 4.78 average rating, making it by far the dominant operator in the market. Arkansas Vacation (38 listings, 4.74 rating), King Rhodes (32 listings, 4.75 rating), Buffalo Outdoor Center (27 listings, 4.91 rating), and Ivy Vacations (25 listings, 4.90 rating) fill out the top five. The top five operators collectively manage 556 listings, representing approximately 8% of the estimated 6,875-listing market. Evolve alone accounts for roughly 6% of all listings.
Frequently Asked Questions About Fort Smith, Arkansas
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