Nashville STR Market Report 2026: What the Data Actually Shows
Nashville added 1,200 new STR listings in 2025 while demand grew only 8%. We break down what that means for ADR, occupancy, and whether it's still a good market to enter.
Nashville STR at a Glance
Nashville remains one of the top 10 STR markets in the US, driven by bachelorette tourism, live music, and a growing corporate relocation base. But the market has matured significantly since 2021. Operators entering today need a sharper underwrite than those who rode the post-COVID demand wave.
Key Metrics: Q1 2026
- Average Occupancy: 64% (down from 71% in Q1 2024)
- Average Daily Rate: $187 (up 4% YoY)
- RevPAR: $120 (flat YoY)
- Active Listings: 14,200 (up 9% YoY)
The Supply Problem
Nashville added 1,200 net new listings in 2025 while demand grew only 8%. That supply-demand imbalance is why occupancy has slipped. The operators who are maintaining strong returns are the ones in East Nashville and The Gulch — submarkets where supply growth has been constrained by zoning.
Our Verdict
Nashville is still a viable STR market in 2026, but the easy money is gone. You need to underwrite at 60% occupancy (not 70%), target properties under $400k acquisition cost, and focus on the right submarkets. Operators who bought in 2020–2021 at lower prices are still printing returns. New entrants need to be surgical.
