Real Estate Investing in Pigeon Forge, Tennessee (37862)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 37862 (Pigeon Forge, TN)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 34.9% of homes vacant — above national norms.
What’s happening in Pigeon Forge, TN (37862)?
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Market Analysis: 37862 Pigeon Forge
The 37862 ZIP in Pigeon Forge, TN is a local-operator market. Outside capital chasing a $456K entry has to pair deep knowledge with the discount.
Distressed markets are won on execution, not on spreadsheets. ZIP 37862 posts the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
In the broader TN picture, 37862 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The demographic picture in 37862 includes headwinds that any investor should price in. Income distribution skews lower than Pigeon Forge averages, and tenant stability requires active management.
New investors are better served looking at Pigeon Forge's stable or hybrid ZIPs before stepping into 37862. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Pigeon Forge:
Property Strategy for 37862
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $407,819 | $940 | 1.7% | +10.5% | $407,819 |
| 2BR | $452,930 | $1,120 | 1.8% | +9.7% | $226,465 |
| 3BR | $484,804 | $1,470 | 2.2% | +9.1% | $161,601 |
| 4BR | $766,187 | $1,480 | 1.4% | +8.5% | $191,547 |
| 5BR | $1,240,053 | — | — | +9.9% | $248,011 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 37862 Compare?
| Metric | 37862 | Pigeon Forge | Sevierville, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $455,954 | $437,807 | N/A | $327,001 |
| 5-Year CAGR | 2.5% | 2.3% | N/A | 7.7% |
| Avg Rent | $1,663 | $1,650 | N/A | - |
| Cap Rate | 2.8% | 2.9% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 37862 (Pigeon Forge, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $455,954 |
| Monthly Rent | $1,663 |
| Price-to-Rent | 22.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.4% |
| Cap Rate | 2.8% |
| 5-Year IRR | 5.3% |
📈 Home Appreciation
| 1-Year | +2.9% ▲ |
| 3-Year CAGR | -2.4% ▼ |
| 5-Year CAGR | +2.5% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 37862
Population: 21,719
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 37862
Schools in This ZIP Code
Nearby Schools (3 more)
Schools in adjacent ZIP codes that may serve this area
Pigeon Forge High School
Pigeon Forge Intermediate
Pigeon Forge Junior High School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What strategy should investors use in Pigeon Forge, TN?
A careful cash-flow rentals with hands-on management strategy Pigeon Forge, TN best. The market produces measured results for that approach at the $456K price point.
How deep is the rental pool in Pigeon Forge, TN?
Expect a solid tenant pool in Pigeon Forge, TN. The rental market absorbs $1,663/mo rents without meaningful friction.
Is real estate in Pigeon Forge, TN a good investment right now?
Pigeon Forge, TN scores 3.0/5 for investability. Home values sit at $456K and rents near $1,663/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Are eviction rules reasonable in Pigeon Forge, TN?
Pigeon Forge, TN falls under TN landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
Does a duplex house hack pencil in Pigeon Forge, TN?
The a challenging house-hack environment in Pigeon Forge, TN reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
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