Marshall, North Carolina Short-Term Rental Market
Marshall NC STRs averaged $218/night at 55.2% occupancy in April 2026, with revenue up 14.7% year-over-year in a Madison County market rated 93.1 out of 100.
Quick Answer: Marshall, 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 Marshall. Regulations, taxes, and permit details below are specific to Marshall.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Marshall is the county seat of Madison County, NC, a small riverside mountain town of 812 residents situated roughly 20 miles north of Asheville on the French Broad River. The STR market tracked for this area covers approximately 6,999 active listings across the broader Madison County region. In April 2026, listings averaged $218.19 per night with 55.2% occupancy, generating an average of $3,302 per listing per month. RevPAR stood at $120.48.
Entire-place listings account for 6,645 of 6,999 listings (94.9%). Private rooms total 352 (5.0%) and shared rooms 2. By bedroom count, one-bedroom units lead at 2,593 (37.1% of bedroom-tracked listings), followed by two-bedrooms at 1,682 (24.0%), three-bedrooms at 1,497 (21.4%), four-bedrooms at 671 (9.6%), and five-plus-bedroom properties at 552 (7.9%).
Both platforms are well-represented. Of 6,999 listings, 3,744 (53.5%) appear on both Airbnb and VRBO, 2,880 are Airbnb-only, and 375 are VRBO-only. Year-over-year, occupancy rose 5.22 percentage points, ADR grew 1.76%, and revenue jumped 14.66%. The market total score of 93.09 and revenue growth score of 90.98 are among the highest in this dataset.
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 Marshall
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 Marshall?
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
Annual average revenue for this market was $3,302 in April 2026, projecting to approximately $39,624 in annualized gross revenue per listing. Housing price data is not published in this dataset for the Marshall area, so a gross yield calculation is not available.
ADR segmentation shows meaningful differentiation. All-listings ADR was $218/night in April 2026. Entire-home listings averaged $225/night. Professionally managed properties averaged $315/night, a 44% premium. The luxury tier commanded $380/night, approximately 74% above the all-listings rate.
Revenue by property type: houses generated $3,519/month and entire-place listings $3,396/month, both above the all-listings average of $3,302. Apartment-type units averaged $2,746/month.
The multi-year trend shows revenue stabilized through 2022-2024 after a 2021 peak, then resumed growth in 2025. Annual average revenue was $3,498 in 2021, $3,362 in 2022, $3,144 in 2023, $3,195 in 2024, and $3,261 in 2025. The April 2026 YoY gain of 14.66% is a breakout from this range. The investor-friendly regulatory environment (no residency requirement, no night cap, minimal oversight) and a high total market score (93.09) make this a market with structural appeal beyond the raw yield numbers.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Travelers in the Marshall area book an average of 45 days (about 6.4 weeks) in advance. This lead time is consistent with a regional Appalachian weekend-travel market where popular summer and fall dates are planned several weeks out but last-minute bookings are more common than at destination resort markets.
Average length of stay is 3.66 nights, reflecting a primarily long-weekend and short-stay visitor profile. At this average length, most guests are arriving for a 3- to 4-day mountain getaway. The short stay profile and non-primary-residence regulatory environment mean operators can run a high turnover cadence without hitting a night cap.
The 45-day booking window gives operators approximately six weeks of advance demand visibility. July and October (fall foliage) should be priced firmly from at least 6 weeks out. Winter months (January to February) have more compressed booking windows and benefit from last-minute promotional pricing to reduce vacancies.
Short-Term Rental Regulations
Short-term rentals are permitted throughout the Marshall area and operate under one of the more permissive frameworks in the region. The Town of Marshall has no standalone STR ordinance; vacation rentals are governed by Madison County’s Land Use Ordinance.
Operators must pass a Madison County Residential Vacation Rental Inspection covering posted address signage (visible from road and parking areas, and at the end of long driveways), a posted emergency and owner contact list near the front entrance, egress, fire safety, electrical, plumbing, mechanical, heating, and site conditions. There is no owner-occupancy or primary-residence requirement, no annual night cap, and no permit fee published in available sources.
Madison County levies a room occupancy tax of up to 5%, remitted to the Madison County Tourism Development Authority. North Carolina state and local sales and use taxes on accommodations also apply and are commonly collected and remitted by platforms such as Airbnb.
In October 2023, Madison County commissioners updated the Land Use Ordinance to remove the prior 1,200-square-foot minimum size for vacation rental units and to relax road standards for properties with 10 or fewer units on a parcel. Larger multi-unit projects (more than 10 units) still must meet Subdivision Control Ordinance road standards requiring a 45-foot right-of-way and 17-foot road bed. Enforcement is rated minimal, focused on safety compliance rather than use restrictions.
Market Comparison
The U.S. STR market median occupancy runs near 55% and median ADR near $220. Marshall’s April 2026 occupancy of 55.2% is at the national median and its $218 ADR is just below it. The 14.66% revenue YoY growth rate substantially outperforms national trends. The market total score of 93.09 ranks this market very highly relative to the broader StaySTRA dataset.
Housing price data is not available for this market, so a direct yield comparison cannot be made. The investor-friendly regulatory structure (no residency requirement, no night cap, minimal oversight) differentiates this market positively from many North Carolina and Appalachian peer markets.
Among professional operators, Greybeard Rentals leads with 162 listings and a 4.86 average rating (3,953 reviews). Evolve manages 155 listings (4.79 rating, 9,200 reviews). Yonder operates 143 listings (4.84 rating, 8,226 reviews). Towns Property Management, ranked fourth with 131 listings, has accumulated the most reviews (17,027) at a 4.82 rating. Together the top three account for approximately 460 listings, or about 6.6% of the market’s 6,999 total listings. All five top operators maintain average ratings at or above 4.79, reflecting a high guest-experience standard in this market.
Frequently Asked Questions About Marshall, North Carolina
What is the average daily rate for STRs in Marshall, NC?
What occupancy rate can STR investors expect in Marshall?
Does Madison County require owner-occupancy or a primary residence to operate an STR near Marshall?
Is there a night cap on short-term rentals in Marshall or Madison County?
What taxes apply to short-term rentals in the Marshall area?
What draws visitors to Marshall, NC?
Who are the largest property managers in the Marshall, NC STR market?
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