Real Estate Investing in Pigeon Forge, Tennessee (37863)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 37863 (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: 56.5% of homes vacant — above national norms.
What’s happening in Pigeon Forge, TN (37863)?
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Market Analysis: 37863 Pigeon Forge
This part of Sevier County is not an easy win. The 37863 ZIP posts softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The 37863 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
ZIP 37863's metrics run below Sevier County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The 37863 ZIP's population of 6,469 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that sits at the need for careful underwriting.
leans the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Pigeon Forge:
Property Strategy for 37863
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $355,572 | $880 | 1.8% | +9.4% | $355,572 |
| 2BR | $417,644 | $1,050 | 1.8% | +8.6% | $208,822 |
| 3BR | $472,360 | $1,380 | 2.1% | +7.9% | $157,453 |
| 4BR | $720,620 | $1,390 | 1.4% | +11.2% | $180,155 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 37863 Compare?
| Metric | 37863 | Pigeon Forge | Sevierville, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $419,660 | $437,807 | N/A | $327,001 |
| 5-Year CAGR | 2.1% | 2.3% | N/A | 7.7% |
| Avg Rent | $1,638 | $1,650 | N/A | - |
| Cap Rate | 3.0% | 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 37863 (Pigeon Forge, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $419,660 |
| Monthly Rent | $1,638 |
| Price-to-Rent | 21.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.0% |
| 5-Year IRR | 5.1% |
📈 Home Appreciation
| 1-Year | +1.0% ▲ |
| 3-Year CAGR | -3.8% ▼ |
| 5-Year CAGR | +2.1% ▲ |
| 10-Year CAGR | +8.9% ▲ |
🏠 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 (3.0%). 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 37863
Population: 6,469
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 37863
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Sevierville Intermediate
Sevierville Primary
Sevier County High School
Sevierville Elementary
Wearwood Elementary
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
Is rental property easy to operate in Pigeon Forge, TN?
For rental operators, Pigeon Forge, TN rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Can I live-in-and-rent in Pigeon Forge, TN?
House hacking works a challenging in Pigeon Forge, TN. Rents of $1,638/mo against $420K acquisition make the strategy solid for owner-occupants.
What are home prices like in Pigeon Forge, TN?
Expect median prices around $420K in Pigeon Forge, TN. The market has run at a 0.0% 5-year CAGR, so entry costs have been steady.
What kind of market is Pigeon Forge, TN for investors?
With a 3.0/5 investability score, Pigeon Forge, TN ranks as a solid market for rental property investors. Median prices of $420K and rents of $1,638/mo drive the underlying numbers.
Is Pigeon Forge, TN better for rentals, flips, or BRRRR?
Investors usually favor careful cash-flow rentals with hands-on management in Pigeon Forge, TN. With home values at $420K and rents near $1,638/mo, other strategies can work but produce measured rather than outsized returns.
You know 37863 now. You don’t know where it ranks.
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