Leicester, North Carolina Short-Term Rental Market
Leicester, NC STRs averaged $218/night at 55.2% occupancy in April 2026 across nearly 7,000 active listings.
Quick Answer: Leicester, 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 Leicester. Regulations, taxes, and permit details below are specific to Leicester.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Leicester is a rural community in unincorporated Buncombe County, North Carolina, approximately 10 miles northwest of Asheville. The STR market here operates within the Asheville regional visitor economy, which drew 13.9 million visitors to Buncombe County in 2023. As of April 2026, the Leicester market had approximately 6,981 active listings, with an average daily rate of $218, occupancy of 55.2%, and average monthly revenue of $3,302 per listing. RevPAR was $121.
Listing composition is dominated by entire-place rentals. Of 6,981 total listings, 6,628 (94.9%) are entire-place, 351 are private-room, and 2 are shared-room. Bedroom distribution: 2,585 one-bedroom, 1,683 two-bedroom, 1,491 three-bedroom, 670 four-bedroom, and 548 five-plus-bedroom units. Platform distribution shows broad cross-listing: 3,734 listings appear on both Airbnb and VRBO, 2,872 are Airbnb-only, and 375 are VRBO-only.
Year-over-year from April 2025, occupancy rose 5.3%, ADR grew 1.8%, and revenue climbed 14.6%. This combination reflects demand recovery after Hurricane Helene struck the Asheville area in September 2024 and disrupted regional tourism through the winter season.
Market scores are high across the board: total score 93.0, revenue growth 90.9, seasonality 86.7, regulation 74.2, rental demand 71.1, investability 69.7 (all out of 100). The high seasonality score indicates relatively consistent year-round demand compared to most mountain STR markets.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 39% | $171 | $2,049 |
| Feb | 47% | $171 | $2,040 |
| Mar | 56% | $183 | $2,858 |
| Apr | 56% | $186 | $2,882 |
| May | 57% | $192 | $2,988 |
| Jun | 64% | $207 | $3,550 |
| Jul | 68% | $200 | $3,824 |
| Aug | 61% | $195 | $3,429 |
| Sep | 58% | $190 | $2,972 |
| Oct | 63% | $204 | $3,268 |
| Nov | 55% | $196 | $2,763 |
| Dec | 55% | $196 | $2,869 |
Top Short-Term Rental Operators in Leicester
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Greybeard Rentals | 162 | 3,943 | ★ 4.86 |
| 2 | Evolve | 154 | 9,136 | ★ 4.79 |
| 3 | Yonder | 143 | 8,221 | ★ 4.84 |
| 4 | Towns Property Management | 131 | 16,978 | ★ 4.82 |
| 5 | Carolina Mornings | 119 | 6,568 | ★ 4.80 |
What Kind of STR Should I Buy in Leicester?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,585 |
| 2 bed | 1,683 |
| 3 bed | 1,491 |
| 4 bed | 670 |
| 5 bed | 548 |
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
At $3,302/month average revenue in April 2026, Leicester STRs imply annualized gross revenue of approximately $39,630 per listing. The typical home value is $431,024 and median list price is $548,333. At the typical home value, the gross revenue yield is approximately 9.2%. At the median list price, the indicated yield is approximately 7.2%. Both figures are pre-expense and do not account for management fees, platform costs, maintenance, or taxes.
Revenue varies meaningfully by property type. Entire-place listings average $3,397/month; house-type properties average $3,521/month ($42,252 annualized); apartment units average $2,744/month. The luxury-tier ADR of $380/night is 74% above the market average of $218, indicating strong upside for premium properties. Professionally managed listings average $315/night, 44% above the market average, the highest PM premium in this market batch.
Long-term revenue has followed a clear trajectory: annual average monthly revenue peaked at $3,497 in 2021, pulled back to $3,143 in 2023, then recovered to $3,262 in 2025. Early 2026 data suggests further recovery, driven partly by Helene-affected demand rebounding as the region reopened.
The current regulatory environment in unincorporated Buncombe County is permissive: no STR permit or registration fee is currently required. This distinguishes Leicester from Asheville proper, where whole-home STRs are prohibited in residential zones. Investors should verify current regulatory status before purchasing, as county restrictions have been proposed and could be revived.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
The average booking lead time in the Leicester market is 45 days, meaning guests typically reserve approximately six and a half weeks in advance. Average length of stay is 3.7 nights, moderately longer than the national STR norm. The longer stay reflects the Asheville area’s positioning as a multiday destination: visitors combining Blue Ridge mountain scenery, the Biltmore Estate, craft beverages, arts studios, and local agritourism tend to plan longer getaways.
The 3.7-night average reduces per-stay turnover burden compared to markets with 2-night averages. A fully occupied 30-day month at 3.7 nights per stay accommodates approximately 8 reservations, versus 15 for a 2-night average. Fewer turns per month means lower cleaning costs and potentially lower guest-acquisition friction.
For pricing strategy, the 45-day window suggests operators should monitor fill rates at the 30-35 day mark and adjust rates for unfilled shoulder-season dates. High-demand periods (July, October foliage season) may support premium pricing at 60 or more days out. Operators targeting the fall foliage window should set pricing and minimum stays early, as that period historically draws planners rather than spontaneous bookers.
Short-Term Rental Regulations
Leicester sits in unincorporated Buncombe County, outside Asheville city limits. This distinction matters: Asheville’s whole-home STR prohibition in residential zones does not apply to Leicester.
As of mid-2026, unincorporated Buncombe County has no STR-specific permit requirement and no county registration fee. Short-term rentals are broadly allowed across most of the county, with two restrictions: properties near the Asheville Regional Airport are excluded, and units are subject to a maximum floor area of 9,000 square feet. There is no owner-occupancy or primary-residence requirement.
Operators must collect and remit a 6% Buncombe County occupancy tax in addition to standard North Carolina sales tax, through a Buncombe County Tourism Development Authority account. Enforcement is rated minimal.
Regulatory risk is real. Buncombe County debated restrictive STR zoning text amendments in 2023 and 2024 that would have limited rentals to specific districts, required single-family detached structures, and grandfathered existing operators under a renewable zoning permit. The Planning Board deferred those amendments in April 2024. Hurricane Helene (September 2024) then disrupted county governance and the regulatory process stalled. As of 2025-2026, no new ordinance has been adopted. Investors should treat the current permissive regime as potentially temporary and confirm current status with the Buncombe County Planning Department before acquiring property.
Market Comparison
Nationally, STR markets average approximately 55% occupancy and $220 in ADR. Leicester’s April 2026 metrics of 55.2% occupancy and $218 ADR sit nearly in line with national benchmarks, but the 14.6% year-over-year revenue growth significantly outpaces the national trend and reflects post-Helene demand recovery in the Asheville region.
The top five property managers active in this market are: Greybeard Rentals (162 listings, 3,943 reviews, 4.86 rating), Evolve (154 listings, 9,136 reviews, 4.79 rating), Yonder (143 listings, 8,221 reviews, 4.84 rating), Towns Property Management (131 listings, 16,978 reviews, 4.82 rating), and Carolina Mornings (119 listings, 6,568 reviews, 4.80 rating). The top 5 collectively manage 709 listings, approximately 10.2% of the market’s 6,981 total listings. Towns Property Management leads by review volume with 16,978 reviews, indicating deep long-term guest engagement.
Compared to Asheville proper, Leicester’s permissive regulatory environment has supported larger and less encumbered listing inventory. The absence of a county permit requirement keeps entry barriers low, distinguishing it from markets where cap systems or registration requirements limit supply.
Frequently Asked Questions About Leicester, North Carolina
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