Murphy, North Carolina Short-Term Rental Market
The Western North Carolina mountains STR market posted a $240 ADR, 48.3% occupancy and $3,198 monthly revenue in September 2026.
Quick Answer: Murphy, North Carolina is an active short-term rental market. average occupancy in the North Carolina Mtns market area is 48%. average monthly revenue in the North Carolina Mtns market area is $3,198. average daily rate in the North Carolina Mtns market area is $240. the top operator in the North Carolina Mtns market area is Evolve with 723 listings. market score is 70/100 (grade B).
Market data reflects the North Carolina Mtns regional market, which includes Murphy. Regulations, taxes, and permit details below are specific to Murphy.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Murphy is the county seat of Cherokee County in the far western tip of North Carolina, with a population of 1,608. Short-term rental performance for Murphy is tracked at a shared level across the Western North Carolina mountains, so every performance figure on this page describes the Western North Carolina mountains STR market, a region that includes Murphy. In September 2026 that market recorded an average daily rate of $240 and occupancy of 48.3%, with average monthly revenue of $3,198 per listing. Compared with September 2025, occupancy is up 11.3%, ADR is up 3.4% and revenue is up 15.2%. Entire-place rentals averaged $242 per night. The annual picture is steadier than the monthly one. The first nine months of 2026 show 47.6% occupancy, a $226 ADR and $2,991 in average monthly revenue, versus 48.4%, $221 and $3,039 for full-year 2025. Demand peaked in 2020 and 2021 at roughly 60% occupancy, then settled near 48% from 2024 onward, while ADR has climbed from $187 in 2020 to $226 in 2026. Visitors to Murphy are mostly driving leisure travelers, retirees and second-home buyers, outdoor recreationists and casino patrons. Hiwassee Lake, with 160+ miles of shoreline, the Murphy River Walk, nearby Great Smoky Mountains National Park and Harrah’s Cherokee Valley River Casino anchor demand, and downtown Murphy is reported to draw nearly 2 million visits a year. Spring and fall foliage are the traditional peak seasons. Listing-type, bedroom and channel counts are tracked at a shared regional level rather than uniquely for Murphy, so this profile omits them.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 32% |
| Feb | 41% |
| Mar | 47% |
| Apr | 47% |
| May | 49% |
| Jun | 61% |
| Jul | 68% |
| Aug | 56% |
| Sep | 49% |
| Oct | 61% |
| Nov | 49% |
| Dec | 46% |
Month-by-month nightly rates and revenue figures for Murphy are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Top Short-Term Rental Operators in North Carolina Mtns market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the North Carolina Mtns market as a whole, which includes Murphy, so these counts are not Murphy-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 723 | 35,109 | ★ 4.76 |
| 2 | Vacasa | 454 | 17,037 | ★ 4.47 |
| 3 | Yonder | 119 | 3,777 | ★ 4.71 |
| 4 | Rumbling Bald Resort | 112 | 415 | ★ 4.35 |
| 5 | Bryson City Cabin Rentals | 112 | 1,400 | ★ 4.65 |
What Kind of STR Should I Buy in Murphy?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Murphy are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 27.2% |
| vrbo | 11.8% |
| both | 61% |
Home Value Trends (Murphy)
Typical home values, median sale prices, and the 10-year price trend for Murphy are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Insights
Booking-window and length-of-stay analysis for Murphy — how far ahead guests book and how to price around it — is available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Short-Term Rental Regulations
Murphy is a light-touch short-term rental market. Short-term rentals are permitted, and no Murphy or Cherokee County STR ordinance was found that imposes an operating permit, a cap on nights, or an owner-occupancy or primary-residence requirement. North Carolina law (G.S. 160D and the Vacation Rental Act) limits how far local governments can go in banning vacation rentals or requiring registration solely because a unit is rented short term. The one mandatory step is tax compliance. Anyone renting accommodations for fewer than 90 consecutive days must register with the Cherokee County Finance Office, collect the county occupancy tax and file monthly returns, due by the 20th, even in months with no revenue. This is an occupancy tax registration and not a land-use STR permit. The occupancy tax was 4% through June 30, 2026 and rose to 6% on July 1, 2026. North Carolina sales tax on accommodations (4.75% state plus 2% local, or 6.75%) also applies, so the all-in tax on gross rent is roughly 12.75% from July 2026. Airbnb and Vrbo may collect some of these taxes automatically, but operators remain responsible for registration and remittance. Operators must still follow the parcel’s underlying zoning and general nuisance, noise, parking and building and fire rules, so verify the zoning district with the Town of Murphy Planning and Zoning office before purchase. Statewide, Senate Bill 291 would cap local STR permit fees at about $25, but it had not advanced as of early 2026. Enforcement is rated minimal and centers on tax compliance.
Market Comparison
The Western North Carolina mountains STR market depends on rate and on peak-season capture more than on volume, with September 2026 occupancy of 48.3% and a $240 ADR. Momentum is favorable, with occupancy up 11.3%, ADR up 3.4% and revenue up 15.2% year over year, and July reaches 67.5% occupancy at a $230 ADR in the strongest month. Winter is the weak point, with January occupancy of 32.2%. Murphy itself is a small town of 1,608 people, so demand leans on regional draws such as Hiwassee Lake, the Murphy River Walk, Great Smoky Mountains National Park and the casino, plus the second-home and retiree market. Top operators are tracked at a shared regional level rather than uniquely for Murphy, so this profile omits them.
Frequently Asked Questions About Murphy, North Carolina
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