Franklin, Tennessee Short-Term Rental Market
Franklin, TN STRs averaged $313/night at 59.7% occupancy in April 2026, with revenue up 9.3% year-over-year.
Quick Answer: Franklin, Tennessee is an active short-term rental market. average occupancy is 65%. average monthly revenue is $5,908. average daily rate is $329. the top operator is AvantStay with 530 listings. market score is 81/100 (grade B).
Market data reflects the Nashville regional market, which includes Franklin. Regulations, taxes, and permit details below are specific to Franklin.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Franklin is a historic Nashville suburb in Williamson County with a population of approximately 89,000, drawing an estimated 8.79 million visitors annually who generate about $1.37 billion in tourism economic impact. The market runs on Civil War heritage, a nationally recognized downtown Main Street, live music at the FirstBank Amphitheater, and proximity to Nashville, making it one of Tennessee’s most active short-term rental markets.
In April 2026, the average daily rate was $313 across all listings, with occupancy at 59.7% and RevPAR of $187. Year-over-year, occupancy grew 4.9% while ADR declined 6.3%, producing a net revenue gain of 9.3%. The ADR decline likely reflects supply expansion absorbing increased demand. The active listing base is large: entire-place listings dominate at 14,747, with 854 private rooms and just 5 shared rooms. By bedroom count, 1-bedroom units lead at 5,147, with 2-bedroom (3,371), 3-bedroom (3,025), 4-bedroom (3,054), and 5-bedroom-plus (976) making up the rest. Channel distribution shows 6,663 Airbnb-only, 826 VRBO-only, and 8,117 active on both platforms. The market’s rental demand score of 87.3/100 reflects consistent high utilization in this affluent suburb.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 42% | $203 | $2,547 |
| Feb | 54% | $220 | $2,922 |
| Mar | 62% | $258 | $4,385 |
| Apr | 58% | $273 | $4,411 |
| May | 61% | $285 | $4,761 |
| Jun | 63% | $287 | $4,881 |
| Jul | 60% | $257 | $4,352 |
| Aug | 57% | $264 | $4,189 |
| Sep | 59% | $270 | $4,266 |
| Oct | 63% | $280 | $4,911 |
| Nov | 54% | $250 | $3,739 |
| Dec | 50% | $222 | $3,084 |
Top Short-Term Rental Operators in Franklin
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | AvantStay | 530 | 7,038 | ★ 4.70 |
| 2 | GoodNight Stay | 299 | 6,479 | ★ 4.46 |
| 3 | Coboda Rentals | 248 | 5,165 | ★ 4.48 |
| 4 | Host Extraordinaires | 236 | 23,407 | ★ 4.78 |
| 5 | StayLocal | 178 | 11,262 | ★ 4.74 |
What Kind of STR Should I Buy in Franklin?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 5,147 |
| 2 bed | 3,371 |
| 3 bed | 3,025 |
| 4 bed | 3,054 |
| 5 bed | 976 |
ADR by Property Tier
| Entire Home | $341 |
| Luxury | $598 |
| Professionally Managed | $411 |
Revenue by Dwelling Type
| Apartment | $5,622 |
| Entire Place | $6,119 |
| House | $6,241 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 42.7% |
| vrbo | 5.3% |
| both | 52% |
Investment Analysis
Franklin presents a high-revenue, high-acquisition-cost investment profile. The typical home value is $916,000, among the highest in Tennessee, with a median sale price of $879,000 and median list price of $989,000. At April 2026 revenue of $5,237/month, a standard listing yields annualized gross revenue of approximately $62,844, representing a gross yield of roughly 6.9% on a typical-priced acquisition.
ADR tiering shows significant upside at the premium end. The professionally managed tier averages $397/night versus $313 across all listings, a 27% premium. The luxury tier reaches $565/night. Houses generate $5,528/month versus $5,403 for entire-place listings and $4,999 for apartments. Revenue has been strong historically, peaking at a 2022 annual average of $4,811/month and returning to $4,599/month in 2025. The key constraint for investors is regulatory: new non-owner-occupied STRs are prohibited in residential zones. The property must be the operator’s primary residence, limiting this market primarily to owner-occupants and grandfathered listings. The investability score of 77.5/100 reflects this regulatory friction on otherwise strong fundamentals.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Franklin guests book approximately 53 days in advance, and the average length of stay is 3.6 nights. The 53-day lead time is one of the longer booking windows among Tennessee markets, suggesting that visitors plan multi-day trips in advance around specific events, Civil War site visits, and Nashville-area itineraries. For operators with the 113-night annual cap, this lead time means most allowed rental nights are bookable two months out, enabling deliberate pricing strategy rather than last-minute discounting. The 3.6-night average stay suggests guests blend Franklin’s historic attractions with Nashville day trips, making the market well-suited for properties that can cater to extended leisure visits.
Short-Term Rental Regulations
Franklin operates one of Tennessee’s most restrictive STR regimes. Short-term vacation rentals (STVRs, defined as dwellings with up to four sleeping rooms rented for fewer than 30 days) require a permit from the city’s Building and Neighborhood Services Department plus a city business tax registration. The permit costs $15 and renews annually.
The critical restriction for investors: in residential zones, new STVRs must be owner-occupied and located in the operator’s primary residence. Non-owner-occupied investment properties are prohibited from operating as STVRs in residential areas. Properties may only be rented up to 113 nights per year. Only one STVR is permitted per lot. Pre-existing permits are grandfathered, and non-owner-occupied operation may be possible in commercial or mixed-use zoning, but these are narrow exceptions. The city’s transient room tax increased from 4% to 5% effective FY2026 under Ordinance 2025-15, with the added 1% earmarked for parks and tourism infrastructure. Enforcement is classified as strict, with fines and legal consequences for unpermitted or non-compliant operation. Franklin effectively works for owner-occupants and house-hackers but restricts traditional whole-home investment STR.
Market Comparison
At $313 ADR and 59.7% occupancy, Franklin significantly exceeds the US STR median ADR of approximately $220, placing it among the top-tier suburban Nashville markets. RevPAR of $187 is roughly double the national median for non-resort STR markets. The 9.3% year-over-year revenue growth in April 2026 outpaces most comparable markets, even as ADR softened 6.3% due to supply expansion.
The professional management landscape is well-developed. AvantStay leads with 530 listings and 7,038 reviews at a 4.70 average rating. Host Extraordinaires operates 236 listings with 23,407 reviews at a 4.78 rating, indicating a deep-reviewed local operator. GoodNight Stay (299 listings, 4.46 rating) and Coboda Rentals (248 listings, 4.48 rating) represent additional significant operators. StayLocal holds 178 listings at a 4.74 rating. The combined presence of five operators with 100-plus listings each signals a competitive, institutionally managed market where self-managed operators compete against professional standards. The total market score of 80.6/100 reflects strong demand offset by regulatory constraints.
Frequently Asked Questions About Franklin, Tennessee
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Can investors buy a non-owner-occupied property and list it as an Airbnb in Franklin?
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How much can a short-term rental earn per month in Franklin, TN?
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