These are the two biggest cabin markets in the United States for short term rental investors. The Smoky Mountains have been the gold standard for decades. Broken Bow, Oklahoma has exploded onto the scene in recent years. Both attract drive-to tourists, both generate strong revenue, and both center on the same product type: standalone cabins with hot tubs, game rooms, and forest views.
So which one should you buy in?
The Short Term Shop has dedicated agents in both markets. We’ve helped thousands of investors buy cabins in the Smokies and Broken Bow, and the answer isn’t as simple as picking a winner. These markets serve different investors, draw from completely different guest pools, and offer distinct risk and return profiles. Here’s how they actually compare.
Market Overview: Established Giant vs. Emerging Powerhouse
The Smoky Mountains are the most proven short term rental cabin market in the country. Great Smoky Mountains National Park draws over 14 million visitors per year, making it the most visited national park in the United States. The core investment area spans three Tennessee towns in Sevier County: Gatlinburg, Pigeon Forge, and Sevierville, plus surrounding communities like Wears Valley and Walden’s Creek. There are roughly 1,900 active short term rental listings across these submarkets. This is a mature, deep market with decades of tourism infrastructure, a massive vendor network, and proven year-round demand.
Broken Bow, Oklahoma is a different animal entirely. Centered around Beavers Bend State Park and the commercial hub of Hochatown in McCurtain County, this market has roughly 120 active short term rental listings. That’s a fraction of the Smokies’ inventory. The area sits about three hours north of Dallas/Fort Worth, drawing from a metro population of roughly 8 million people within a three-hour drive. Broken Bow is newer, smaller, and growing fast. The cabin stock is generally more modern, the regulations are lighter, and the competition is thinner.
Think of it this way: the Smokies are the blue-chip stock with a long track record. Broken Bow is the growth stock with explosive recent performance and plenty of runway ahead.
Revenue Comparison by Bedroom Count
Numbers tell a clearer story than narratives. Here’s how the two markets stack up based on AirDNA 2025 data, including cleaning fees.
| Bedrooms | Smoky Mountains | Broken Bow |
|---|---|---|
| 1 Bedroom | $44,356 | $44,467 |
| 2 Bedroom | $49,195 | $46,149 |
| 3 Bedroom | $62,821 | $55,933 |
| 4 Bedroom | $83,883 | $75,194 |
| 5 Bedroom | $105,233 | $98,840 |
| 6+ Bedroom | $153,619 | $145,347 |
At the one-bedroom level, the two markets are nearly identical. The gap widens as bedroom counts increase, with the Smokies pulling ahead by roughly $5,000 to $10,000 per year at the three- to five-bedroom level. At six-plus bedrooms, the Smokies hold about an $8,000 annual revenue advantage.
That revenue gap matters, but it doesn’t tell the whole story. Entry prices in Broken Bow are generally lower than the Smokies, particularly for newer construction. A three-bedroom cabin in Sevierville might cost $50,000 to $100,000 more than a comparable three-bedroom near Hochatown. When you factor in the lower acquisition cost, the cash-on-cash returns in Broken Bow can be surprisingly competitive with the Smokies, even though the gross revenue numbers are slightly lower.
Revenue by Percentile: Where the Real Story Lives
Market averages are useful, but percentile data reveals how the range of outcomes actually looks. Here’s a side-by-side view across all bedroom types.
| Percentile | Smoky Mountains | Broken Bow |
|---|---|---|
| 25th | $33,055 | $32,305 |
| 50th (Median) | $53,656 | $52,013 |
| 75th | $81,641 | $78,833 |
| 90th | $120,372 | $115,548 |
At the 25th percentile, both markets land within about $750 of each other. At the median, the Smokies lead by roughly $1,600. By the 90th percentile, the gap is about $4,800 per year. Top performers (90th percentile) in the Smokies generate around $120,000, and top performers in Broken Bow generate around $115,500. Some properties in both markets exceed even those numbers.
What this tells you: the revenue profiles are remarkably similar across the distribution. The Smokies have a slightly higher ceiling, particularly for top-performing large cabins, but the floor is nearly identical. If you’re buying a median-performing property in either market, your revenue expectations should be in a similar range.
The real difference shows up when you pair these numbers with purchase prices. A median-performing cabin in Broken Bow that costs $350,000 and generates $52,000 can pencil out the same (or better) on a cash-on-cash basis as a median-performing Smokies cabin that costs $450,000 and generates $53,600. Always run the actual numbers on specific properties, but the general pattern holds.
Entry Prices and What You’re Buying
The Smoky Mountains offer a wider price spectrum because the market is larger and more varied. You can find one-bedroom cabins in Sevierville for under $300,000, and you can find six-bedroom view properties in Gatlinburg listed well over $1 million. The range of property age, condition, and location creates pricing tiers that span a huge band.
Broken Bow’s inventory is generally newer. Many of the cabins in the Hochatown area were built within the last five to ten years, which means more modern construction, contemporary interiors, and fewer deferred maintenance surprises. The trade-off is less character and less variation. You won’t find a 1970s A-frame with hand-hewn logs in Broken Bow the way you might in Gatlinburg, but you also won’t find yourself replacing a roof or rewiring a panel in year one.
For investors focused on newer, turn-key properties with lower acquisition costs, Broken Bow tends to offer more options in the sub-$500,000 range. For investors who want access to a broader market with multiple price tiers and the ability to scale a portfolio across different submarkets, the Smokies provide more flexibility.
Supply Dynamics: Maturity vs. Momentum
Supply is where these two markets diverge most sharply.
The Smoky Mountains have approximately 1,900 active listings. That’s a big market with real competition. The upside is stability: there’s enough demand to support that inventory because 14 million annual visitors is a massive demand base. The downside is that you’re competing against a lot of other cabins, and standing out requires strong amenities, professional photography, dynamic pricing, and active management. Mediocre properties get buried.
Broken Bow has roughly 120 active listings. That’s a much smaller, less saturated market. Each listing captures a larger share of the available demand. The growth trajectory, however, is steep. New cabin developments have been popping up along Highway 259A and in the broader Hochatown area at a rapid pace. That growth creates both opportunity and risk. Opportunity because you’re getting into a market with momentum and less competition. Risk because if supply outpaces demand growth, revenue per listing can compress.
For the Smokies, the supply story is more about maintaining competitive positioning in a mature market. For Broken Bow, it’s about riding a growth wave while staying aware that the market is evolving quickly.
Drive Markets: Almost Zero Overlap
This is one of the most important and underappreciated differences between these two markets.
The Smoky Mountains draw guests primarily from Nashville, Atlanta, Charlotte, Knoxville, Cincinnati, and the broader southeastern United States. Roughly one-third of the U.S. population lives within a day’s drive, and the core feeder cities are concentrated in the Southeast and lower Midwest.
Broken Bow draws from a completely different population base. Dallas/Fort Worth is the primary feeder market (about three hours away), followed by Oklahoma City, Tulsa, and Little Rock. These are south-central and southwestern metros with almost no overlap with the Smokies’ guest pool.
Why does this matter? Because the demand drivers are independent of each other. A recession that hits the Atlanta job market doesn’t affect Dallas travelers heading to Broken Bow. A weather event that shuts down the Smokies for a week doesn’t touch your Oklahoma bookings. Regional economic conditions, gas prices along different corridors, and local school schedules all vary between these two guest pools.
If you own cabins in both markets, you’re effectively diversified across two completely separate demand bases. That’s rare in short term rental investing, where most investors either concentrate in one market or buy across similar markets that draw from overlapping metros.
Regulatory Environment
Tennessee protects short term rental rights at the state level. Local governments cannot ban short term rentals outright, which provides meaningful baseline protection for investors in the Smokies. That said, municipalities within Sevier County do require permits, safety inspections, and compliance with local ordinances. Gatlinburg has the most defined regulatory framework, with permit requirements and active enforcement. Pigeon Forge and Sevierville also require permits but are generally investor-friendly given their tourism-driven economies. HOA restrictions in the Smokies can create more friction than city rules, so reviewing CC&Rs during due diligence is essential.
Broken Bow currently has one of the lightest regulatory environments of any major short term rental market in the country. As of 2026, there are no short term rental specific permits, licenses, caps, or minimum-stay requirements in McCurtain County or the Broken Bow/Hochatown area. Most cabin developments were built specifically for rental use, so HOA friction is minimal, and fees are typically $150 per year or less. Property taxes in McCurtain County sit around 1%, which is meaningfully lower than what you’ll find in most competing markets.
The lighter regulation in Broken Bow is a genuine advantage right now. The caveat is that regulations tend to follow growth. As the market expands and tourism’s impact on the community increases, some form of regulatory framework could emerge. This isn’t a reason to avoid the market, but it’s worth acknowledging as a long-term consideration.
Seasonality and Year-Round Performance
Both markets benefit from genuine four-season demand, which separates them from beach markets that go quiet in winter.
In the Smokies, summer is peak season driven by family travel and national park visitation. Fall is often the highest-revenue period, with foliage tourism pushing premium nightly rates, especially in October. Spring brings wildflowers and moderate weather. Winter slows down in January and February, but holiday weeks are strong and Dollywood’s Smoky Mountain Christmas keeps traffic flowing through December.
Broken Bow follows a similar seasonal rhythm. Summer is peak season thanks to Broken Bow Lake activities. Fall foliage in the Ouachita Mountains drives premium rates in October and November. Spring is solid with mild weather and Mountain Fork River trout season. Winter is the slowest period, though holiday weeks perform well and the nearby Choctaw Casino and Resort provides an additional demand driver when outdoor activities slow down.
The key difference is scale. The Smokies have more attractions, more restaurants, and more reasons for guests to visit across seasons. Broken Bow’s tourism infrastructure is growing but still more limited, which means the seasonal dips can be slightly more pronounced. Both markets are far more consistent year-round than any Gulf Coast beach market.
The Geographic Diversification Play
Here’s where the conversation gets strategic.
Most short term rental investors start in one market and then think about expanding. The typical path is buying a second property in the same market you already know. That makes sense operationally, but it concentrates your risk. If regulations change, if a natural disaster hits, or if a regional economy softens, your entire portfolio takes the impact.
Owning cabins in both the Smoky Mountains and Broken Bow is one of the strongest geographic diversification plays available to cabin investors. The two markets share a property type (standalone cabins), similar operational playbooks (hot tubs, game rooms, dynamic pricing, turnover cleaning), and comparable revenue profiles. But they draw from entirely separate guest populations, operate under different state and local regulatory frameworks, and sit in different geographic and climate regions.
Your Broken Bow cabins hedge your Smokies exposure, and vice versa. If Tennessee introduces new tax obligations, your Oklahoma properties aren’t affected. If a demand shock hits the DFW travel market, your Smokies cabins keep performing off Atlanta and Nashville traffic. This kind of genuine diversification is hard to achieve across beach markets, where overlapping drive markets and similar regulatory environments mean your exposure isn’t as spread out as it looks on a map.
So Which Market Should You Choose?
The Smoky Mountains might be the better fit if you: – Want the most proven, stable cabin market in the country – Prefer a deeper market with more inventory to choose from and multiple submarkets – Are comfortable with a higher entry price in exchange for a longer track record – Want access to the highest revenue ceiling for large, premium cabins – Value an established vendor network, management options, and tourism infrastructure
Broken Bow might be the better fit if you: – Want a lower entry price with comparable cash-on-cash potential – Prefer a smaller, less saturated market with less competition per listing – Are drawn to newer cabin stock and more modern construction – Want the lightest regulatory environment available in a major cabin market – Have a connection to the DFW, OKC, or Tulsa metros and understand that guest base
Both markets might be the best answer if you: – Already own in one and want genuine geographic diversification – Want exposure to two independent demand bases with almost no guest overlap – Like the idea of similar operational playbooks across different regulatory environments – Are building a cabin portfolio and want to spread risk across regions
There’s no wrong answer between these two. They’re both strong markets with real fundamentals. The best choice depends on your capital, your risk tolerance, your geographic preferences, and whether diversification across both makes sense for your portfolio.
Frequently Asked Questions
Is Broken Bow or the Smoky Mountains better for a first time short term rental investor?
Both work well for first-time investors. Broken Bow tends to offer lower entry prices and lighter regulations, which can reduce friction for a first purchase. The Smoky Mountains offer a more established market with a deeper vendor network and more management options. If budget is the primary constraint, Broken Bow often provides a more accessible starting point. If you value proven stability and a wider range of properties to choose from, the Smokies have the edge.
How do short term rental revenues compare between Broken Bow and the Smoky Mountains?
The two markets are remarkably close. Median annual revenue across all bedroom types is approximately $53,600 in the Smoky Mountains and $52,000 in Broken Bow. At the 90th percentile, the Smokies generate around $120,400 and Broken Bow around $115,500. Top performers in both markets exceed even those numbers. The Smokies hold a slight revenue advantage, particularly for larger cabins, but Broken Bow’s lower purchase prices can make cash-on-cash returns competitive.
Can I own short term rentals in both Broken Bow and the Smoky Mountains?
Absolutely, and many investors do exactly that. The two markets draw from completely separate guest populations (Southeast U.S. for the Smokies, south-central U.S. for Broken Bow), operate under different state and local regulations, and sit in different geographic regions. Owning in both creates genuine diversification that’s hard to replicate by buying multiple properties in a single market.
Do Broken Bow and the Smoky Mountains share the same guest pool?
No. There is almost no overlap. The Smoky Mountains draw primarily from Nashville, Atlanta, Charlotte, Knoxville, and the broader Southeast. Broken Bow draws from Dallas/Fort Worth, Oklahoma City, Tulsa, and Little Rock. These are independent demand bases separated by hundreds of miles.
What type of cabin performs best in each market?
In the Smoky Mountains, two- and three-bedroom cabins with hot tubs and mountain views offer the most consistent year-round performance across the widest range of travelers. In Broken Bow, three-bedroom cabins near Hochatown are the sweet spot, balancing strong occupancy with solid revenue. Larger cabins (five-plus bedrooms) generate the highest gross revenue in both markets but require premium amenity packages to reach top-performer levels.
Who can help me buy a short term rental in Broken Bow or the Smoky Mountains?
The Short Term Shop has dedicated agents who live in both Broken Bow and the Smoky Mountains and work exclusively with short term rental investors. Our team has closed over 5,000 investor transactions across 18 vacation rental markets, and every agent lives in the market they serve. Whether you’re buying in one market or building a portfolio across both, our agents can walk you through the numbers, the neighborhoods, and the operational setup.
Ready to invest in Broken Bow, the Smoky Mountains, or both? The Short Term Shop has a dedicated agent who lives in each market and works exclusively with short term rental investors. Find your agent →
Disclaimer: Revenue figures cited in this article are based on market-wide data from third-party analytics platforms and reflect ranges across all properties in the market. They are not projections or guarantees for any specific property. Individual property performance varies significantly based on location, condition, amenities, management quality, and market conditions. Always conduct your own due diligence before making an investment decision.