Data source: ATTOM Data Solutions
By DON FENLEY
The Tri-Cities rental landscape is no longer a single market. It’s two parallel systems moving in different directions. Short-term rentals (STR) behave like hospitality, rising and falling with tourism, medical travel, and event-driven surges. Long-term single-family rentals behave like housing, shaped by wages, commuting patterns, and the steady arrival of new households.
Both influence each other, but they run on different rhythms. And right now, the gap between them is widening.
Short-Term Rentals: Fueled by Tourism, Medical Travel
Johnson City: The Regional Anchor
No community pulls more short-term rental activity than Johnson City. Its combination of ETSU, a year-round healthcare ecosystem, and easy access to outdoor recreation keeps occupancy high and listings growing. Downtown, ETSU-adjacent neighborhoods, and popular westside corridors continue adding STR units as new operators enter the market.
Bristol TN/VA: Peaks and Surges
Bristol’s STR pattern is unmistakably event-driven. NASCAR weeks, Rhythm & Roots, and lake-season weekends create major spikes in demand. During these windows, STR operators often pull inventory that might otherwise serve long-term renters.
Outer Counties: Recreation Rules
Carter, Unicoi, Greene, and Hawkins counties continue to see STR growth tied to recreation hotspots – Watauga Lake, the Nolichucky, and the Cherokee National Forest. These units exist almost entirely to serve tourism.
Long-Term Single-Family Rentals: The Housing Safety Valve
Long-term rentals support the workforce, new residents, retirees, and households priced out of a market where buying power has not kept up with home prices. Across the region, inventory is thin, turnover is low, and investors are not adding a lot of new units.
One factor defines the entire long-term rental landscape: mom-and-pop owners still control the market.
Small local landlords shape every county’s SFR inventory. That means:
- Supply grows slowly because small owners add units only when conditions allow.
- Rent trends follow local pressure, not national pricing patterns.
- New construction is not replacing the aging SFR stock fast enough.
This structure keeps the long-term market tight – even as short-term rentals expand.
County-by-County Breakdown
Washington County / Johnson City
Short-Term:
• Highest STR concentration in the region
• Driven by ETSU, healthcare, and downtown tourism
• STR growth is actively pulling units away from long-term supply
Long-Term:
• One of the tightest SFR markets in the Tri-Cities
• Strong demand from new households and medical professionals
• Almost entirely mom-and-pop managed
Sullivan County / Kingsport – Bristol TN
Short-Term:
• Kingsport: relatively little activity
• Bristol: event-driven peaks that temporarily reduce long-term availability
Long-Term:
• Kingsport: steady, traditional rental base
• Bristol: year-round demand plus pressure during race weekends
Bristol, VA
Short-Term:
• Growth around downtown redevelopment and Speedway proximity
Long-Term:
• Stable demand and rents; inventory dominated by small local owners
Greene County
Short-Term:
• Modest rural/outdoor STR activity
Long-Term:
• Historically affordable, now absorbing renters priced out of Washington/Sullivan
• Predominantly local landlords controlling slow-moving inventory
Carter County
Short-Term:
• Strong lake and mountain demand around Watauga Lake and Roan Mountain
Long-Term:
• Tight SFR availability with increasing rents
• Nearly all units owned by individual investors
Unicoi County
Short-Term:
• Cabin-style STRs expanding with outdoor tourism
Long-Term:
• A very small but extremely tight SFR pool
• Attracting renters seeking affordability near Johnson City
Hawkins County
Short-Term:
• Limited STR presence
Long-Term:
• A “value” destination for renters priced out of larger counties
• Mom-and-pop owners drive supply and pricing choices
Regional Interpretation
- Washington County carries the heaviest rental pressure as STR growth overlaps with strong population inflows.
- Sullivan and Bristol experience mixed pressure. LTR demand is stable but vulnerable during major events.
- Outer counties are now absorbing displaced renters, raising their rent floors in the process.
What’s Next for 2026 and Beyond
- STR expansion will continue in Johnson City, Bristol, and recreation corridors.
• Long-term rental supply will remain structurally tight without large-scale new SFR construction.
• Rent pressure will not ease unless build-to-rent activity enters the region.
• Policy conversations around STR density and zoning will likely intensify by late 2026.
Bottom Line
Short-term rentals support tourism and bring outside money into the region. Long-term rentals support the workforce and keep households rooted. The Tri-Cities needs both, but the balance is slipping.
With long-term inventory still controlled by small local owners and limited new supply coming online, tracking rental segmentation and county-level pressure points is now essential for understanding where constraints – and opportunities – sare emerging next.