Highlands, North Carolina Short-Term Rental Market
Highlands, NC STRs averaged $210/night at 44.4% occupancy in April 2026 across roughly 12,400 active listings.
Quick Answer: Highlands, 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 725 listings. market score is 70/100 (grade C).
Market data reflects the North Carolina Mtns regional market, which includes Highlands. Regulations, taxes, and permit details below are specific to Highlands.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Highlands sits at 4,118 feet on the Highlands-Cashiers Plateau in western North Carolina, making it one of the highest towns east of the Mississippi. The short-term rental market here is large relative to the town’s 1,074 permanent residents: approximately 12,400 active listings compete for a seasonal visitor base that peaks sharply in summer and fall. In April 2026, the market posted a 44.4% average occupancy rate and an average daily rate of $209.82, producing average monthly revenue of $2,509. Year over year, occupancy rose 3.3%, ADR edged up 0.35%, and revenue grew 5.7%. Entire-place listings dominate at 12,099 (97.6% of all listings); private rooms account for only 303. The bedroom mix is broadly distributed: 1-bedroom units number 2,999; 2-bedroom units 3,826; 3-bedroom units 3,374; 4-bedroom units 1,423; and 5-bedroom or larger units 766. Airbnb is the primary distribution channel, with 7,567 listings appearing on both Airbnb and VRBO, 3,372 listed only on Airbnb, and 1,463 listed only on VRBO. The market’s overall investability score is 80.94 out of 100, though rental demand scores lower at 59.42 and the regulatory score of 74.15 requires careful interpretation given the active amortization ordinance described below.
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 | $4,162 |
| 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 Highlands
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 725 | 35,200 | ★ 4.76 |
| 2 | Vacasa | 463 | 17,166 | ★ 4.47 |
| 3 | Yonder | 118 | 3,770 | ★ 4.71 |
| 4 | Rumbling Bald Resort | 112 | 412 | ★ 4.35 |
| 5 | Bryson City Cabin Rentals | 112 | 1,406 | ★ 4.64 |
What Kind of STR Should I Buy in Highlands?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,999 |
| 2 bed | 3,826 |
| 3 bed | 3,374 |
| 4 bed | 1,423 |
| 5 bed | 766 |
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
Revenue figures vary significantly by property type. Entire-place listings averaged $2,542 per month in April 2026, houses averaged $2,651, and apartments averaged $1,759. The luxury tier commanded an ADR of $357.48 versus the market-wide average of $209.82, and professionally managed properties averaged $242.77 per night, roughly 16% above the market average. These ADR premiums are meaningful, but the critical investment constraint is regulatory. The typical Highlands home value is $1,028,377 (April 2026 Zillow estimate), with median list prices at $1,230,000 and 133 homes for sale. At average monthly revenue of $2,509, annualized gross revenue is approximately $30,111, implying a gross yield of roughly 2.9% before expenses. That figure does not support conventional STR investment math. More important: as of September 2024, the town voted to amortize all nonconforming STR permits in R-1 and R-2 zones, requiring shutdown by September 19, 2027. New STRs in residential zones cannot be permitted. The only legally stable entry point for a new investor is B-4 commercially zoned property. Investors already holding permitted nonconforming units face a hard three-year clock.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
In April 2026, Highlands guests booked an average of 48.83 days in advance and stayed an average of 3.7 nights. The nearly seven-week lead time reflects a market where travelers plan trips to a premium mountain destination well ahead of arrival, particularly for high-demand summer and fall weekends. For operators, this window supports dynamic pricing adjustments up to six to seven weeks out, with rates set well before the stay rather than at last-minute discounts. The 3.7-night average stay is longer than the national STR median of roughly 3 nights, suggesting guests are treating Highlands as a multi-day destination rather than a weekend stop. This length-of-stay profile reduces turnover frequency and associated cleaning costs relative to markets with shorter average stays.
Short-Term Rental Regulations
Highlands has one of the most restrictive STR regulatory environments in the Southeast. New STRs have been prohibited in R-1 (low-density residential) and R-2 (medium-density residential) zones since September 15, 2022. R-1 bans STRs entirely. R-2 permits only Tourist Homes, defined as bed-and-breakfast or inn operations with no more than four guest rooms, and only via Special Use Permit. STRs in B-4 commercial zones remain permitted. All operating STRs must hold a town permit. Grandfathered nonconforming units that were operating before September 15, 2022 must hold a Nonconforming Use Permit and may not expand beyond prior use. On September 19, 2024, the Highlands Board of Commissioners voted 4 to 1 to amortize all existing nonconforming STRs in R-1 and R-2 zones, requiring them to cease operations by September 19, 2027. The Macon County room occupancy tax is 3%, in addition to applicable state and local sales taxes. Properties on town sewer are capped at 12 guests. The Institute for Justice has publicly challenged the amortization ordinance as potentially unconstitutional under North Carolina law, citing a precedent from Wilmington. Investors should consult counsel before purchasing with STR intent, as residential-zone STR operations face a defined end date.
Market Comparison
The national median STR occupancy is approximately 55% and the median ADR is around $220. Highlands at 44.4% occupancy in April 2026 trails the national occupancy median, reflecting both the off-peak timing of April and the market’s pronounced seasonality. Its April ADR of $209.82 is close to, but slightly below, the national median. However, peak-month performance (July: 67.93% occupancy, $226 ADR) exceeds national occupancy norms and approaches national ADR medians. Three operators dominate the Highlands market. Evolve leads with 725 listings and 35,200 reviews (average rating 4.764). Vacasa operates 463 listings with 17,166 reviews (rating 4.469). Yonder manages 118 listings with 3,770 reviews (rating 4.714). Collectively these three account for 1,306 listings, roughly 10.5% of the approximately 12,400-listing market. The high concentration of professionally managed inventory, combined with a luxury tier ADR 70% above the market average, suggests that quality and management quality drive meaningful revenue differentiation.
Frequently Asked Questions About Highlands, North Carolina
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