Hot Springs, North Carolina Short-Term Rental Market
Hot Springs, NC STRs averaged $218/night at 55.2% occupancy in April 2026, with revenue up 14.7% year-over-year.
Quick Answer: Hot Springs, North Carolina is an active short-term rental market. average occupancy is 62%. average monthly revenue is $4,141. average daily rate is $248. the top operator is Greybeard Rentals with 162 listings. market score is 93/100 (grade A).
Market data reflects the Asheville regional market, which includes Hot Springs. Regulations, taxes, and permit details below are specific to Hot Springs.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
The Hot Springs, NC short-term rental market recorded an average daily rate of $218 and occupancy of 55.2% in April 2026, generating average monthly revenue of $3,302 per listing. RevPAR reached $120. Year-over-year performance is among the strongest in this data set: occupancy rose 5.2 percentage points, ADR gained 1.8%, and revenue jumped 14.7%.
Hot Springs is a small Appalachian Trail community on the French Broad River in Madison County. The STR inventory is concentrated in entire-place accommodations (6,645 listings), with private rooms at 352 and shared rooms at just 2. By bedroom count: 1-bedroom units are the most common at 2,593 listings, followed by 2-bedroom (1,682), 3-bedroom (1,497), 4-bedroom (671), and 5-bedroom (552). Channel distribution is noteworthy: 3,744 listings appear on both Airbnb and VRBO, the largest segment, while Airbnb-only accounts for 2,880 listings and VRBO-only for 375. This cross-listing concentration reflects how operators in competitive mountain markets hedge platform exposure. The market earned a total score of 93/100, the highest among this group, with standout revenue growth at 91/100 and seasonality at 87/100.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 39% | $171 | $2,049 |
| Feb | 47% | $172 | $2,040 |
| Mar | 56% | $183 | $2,859 |
| Apr | 56% | $186 | $2,883 |
| May | 57% | $192 | $2,988 |
| Jun | 64% | $207 | $3,551 |
| Jul | 68% | $201 | $3,825 |
| Aug | 61% | $195 | $3,430 |
| Sep | 58% | $190 | $2,973 |
| Oct | 63% | $204 | $3,269 |
| Nov | 55% | $196 | $2,764 |
| Dec | 55% | $196 | $2,870 |
Top Short-Term Rental Operators in Hot Springs
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Greybeard Rentals | 162 | 3,953 | ★ 4.86 |
| 2 | Evolve | 155 | 9,200 | ★ 4.79 |
| 3 | Yonder | 143 | 8,226 | ★ 4.84 |
| 4 | Towns Property Management | 131 | 17,027 | ★ 4.82 |
| 5 | Carolina Mornings | 119 | 6,588 | ★ 4.80 |
What Kind of STR Should I Buy in Hot Springs?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,593 |
| 2 bed | 1,682 |
| 3 bed | 1,497 |
| 4 bed | 671 |
| 5 bed | 552 |
ADR by Property Tier
| Entire Home | $256 |
| Luxury | $426 |
| Professionally Managed | $360 |
Revenue by Dwelling Type
| Apartment | $3,080 |
| Entire Place | $4,270 |
| House | $4,510 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 41.1% |
| vrbo | 5.4% |
| both | 53.5% |
Investment Analysis
Hot Springs presents a market with strong momentum. Revenue is up 14.7% year-over-year as of April 2026, and the revenue growth score of 91/100 confirms this is not a one-month anomaly. No Zillow housing data is available for this area on file, so entry-cost-based yield calculations cannot be confirmed from the current data set.
Tier comparisons show a meaningful range. Entire-home ADR of $225 is 3% above the all-listing average of $218. Luxury-tier listings averaged $380/night, a 74% premium over the market. Professionally managed listings averaged $315/night, a 44% premium, which is one of the higher professional-management premiums in this market set, suggesting that experienced operators with reservation management and property care significantly outperform self-managed listings on rate.
The total market score of 93/100 is exceptional, driven by revenue growth and seasonality performance. The investability score of 70/100 is more moderate, reflecting that strong revenue momentum may already be priced into acquisition costs in this sought-after mountain corridor. The regulation score of 75/100 reflects the relatively light regulatory posture of both the town and Madison County.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Hot Springs guests book an average of 45 days in advance as of April 2026, the longest lead window in this comparison group. A 45-day advance booking window reflects planners who research Appalachian Trail visits, fall foliage trips, and whitewater river outings well ahead of travel. Operators have a wider pricing window than markets with 30-day lead times, enabling rate adjustments up to six weeks before peak periods.
Average length of stay is 3.7 nights, consistent with extended weekend trips to this nature-destination market. At 55.2% occupancy and a 3.7-night stay, properties turn over approximately 4-5 times per month. Minimum-stay policies of 3-4 nights align naturally with the current booking behavior and the experience-oriented traveler profile in this market.
Short-Term Rental Regulations
Hot Springs is a small incorporated town in Madison County, NC. No specific STR permit, license, or owner-occupancy requirement was identified in the Town of Hot Springs’s published ordinances as of the profile date. The town administers general development permits and a fee schedule through its Planning & Zoning office (Town Hall, 43 Andrews Ave N), but no dedicated STR ordinance appears in its online materials.
Madison County levies a room occupancy tax of 3% on gross rental receipts for short-term lodging, remitted to the Madison County Tourism Development Authority. This is in addition to North Carolina’s 4.75% state sales tax and applicable local sales taxes on accommodations. Operators should confirm exact combined tax rates with the county and state before operating.
Because the town is small and does not publish specific STR enforcement rules, the practical regulatory burden appears minimal, though local rules in NC mountain towns have been evolving and small municipalities can adopt ordinances relatively quickly. Investors should confirm current requirements directly with the Town of Hot Springs Zoning Administrator ([email protected]) and Madison County before purchasing. No STR-specific regulatory changes were identified in public sources for this area.
Market Comparison
Hot Springs’ April 2026 ADR of $218 is slightly below the national STR median of approximately $220, while its 55.2% occupancy is near the US median of roughly 55%. What distinguishes this market is its revenue growth trajectory: +14.7% year-over-year puts it well above most comparable Appalachian mountain destinations. The total market score of 93/100 is exceptionally high.
Operator concentration is distributed among five recognized regional managers. Greybeard Rentals leads with 162 listings and 3,953 reviews (rated 4.86). Evolve holds 155 listings with 9,200 reviews (4.79). Yonder manages 143 listings with 8,226 reviews (4.84). Towns Property Management has 131 listings and 17,027 reviews (4.82), one of the largest review counts in the top five. Carolina Mornings rounds out the group with 119 listings and 6,588 reviews (4.80). All five operators maintain ratings above 4.79, indicating a high service quality baseline in this market.
Frequently Asked Questions About Hot Springs, North Carolina
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