Smith Mountain Lake, VA short-term rental market report (2026)
Franklin County, Virginia. Rules, revenue, home values, demand, climate, reach and risk, each figure with its source.
- RulesModerate (3/5)
- 4-BR typical value$558K
- FEMA riskVery Low
- Demand drivers within 50 mi2
- People within 300 mi50.6 million
- ClimateFour-season
Everything STR HUB holds on Smith Mountain Lake, VA in one place, in the order an investor needs it: whether you can operate, what the numbers are, why and when people come, who can reach it, and what could go wrong.
Every figure comes from a named dataset listed under Sources and method, dated September 21, 2026. Where we do not hold a figure, that part of the report is left out rather than estimated. The Opportunity Score here is partial: it was calculated without revenue data, with the cash-flow component assumed to be below average, so it can understate the market.
Can you operate in Smith Mountain Lake?
What the rating rests on: Both counties cap occupancy at two adults per bedroom.
Rules change, and a city rating does not cover HOA or deed restrictions. Confirm current requirements with the jurisdiction before you buy or list.
Which way the rules are moving
Stable. The rules we hold report no recent or pending change.
Classified from the regulation text we publish; a direction is only kept when the sentence it rests on appears word for word in that text.
The numbers
We have not verified revenue figures for this market yet.
Home values in Franklin County
Zillow Home Value Index: county-wide typical values for Franklin County, not list prices. A specific property can sit well above or below them.
What it costs to own
Screening figures, not a bill or a quote. The tax rate is a county-wide median for owner-occupied homes (U.S. Census Bureau, ACS 2018-2022); second homes and rentals are often taxed more heavily, and a purchase usually resets the assessed value. Expected annual loss is from the FEMA National Risk Index.
Housing market momentum
County-level, for-sale housing market: it says nothing directly about STR bookings. A relative ranking among tracked markets, not a forecast. Sources: Realtor.com Economic Research, U.S. Census Bureau, Zillow Home Value Index.
Why people come
2 demand drivers sit within 50 miles of Smith Mountain Lake, 1 of them new, planned or one-off (flagged emerging). Ordered by published attendance. Attendance appears only where a source publishes it.
Attractions
- Caesars Virginia emerging: newly opened
- When
- Year-round
- STR angle
- New destination casino resort in a Southside Virginia market (Danville) with very little prior overnight-tourism demand; likely to seed nearby STR demand from visitors staying outside the resort itself, especially on event nights.
Parks and public lands
- Smith Mountain Lake
- When
- Boating/lake season, Memorial Day-Labor Day, is peak.
- STR angle
- Virginia's largest lake (by surface area within the state) drives a substantial lake-house rental market between Roanoke and Lynchburg.
When they come
Four-season climate: comfortable months are spread across the year without one dominant season. 6 of 12 months have an average high between 60°F and 88°F. Warmest month: July (average high 89°F). Coldest: January (average low 31°F).
- Jan47°31°Cool
- Feb52°34°Cool
- Mar60°39°Cool
- Apr68°46°Comfortable
- May75°56°Comfortable
- Jun83°64°Comfortable
- Jul89°70°Hot
- Aug86°69°Comfortable
- Sep80°62°Comfortable
- Oct70°52°Comfortable
- Nov57°40°Cool
- Dec51°35°Cool
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Average high (°F) | 47 | 52 | 60 | 68 | 75 | 83 | 89 | 86 | 80 | 70 | 57 | 51 |
| Average low (°F) | 31 | 34 | 39 | 46 | 56 | 64 | 70 | 69 | 62 | 52 | 40 | 35 |
| Precipitation (in) | 3.4 | 4.8 | 3.2 | 3.6 | 4.1 | 4.0 | 2.3 | 3.5 | 3.3 | 3.5 | 3.0 | 3.9 |
| Snowfall (in) | 5.3 | 2.0 | 0.7 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.9 |
| Sunshine (hours a day) | 6.1 | 6.7 | 8.1 | 10.1 | 10.5 | 11.6 | 12.1 | 11.0 | 10.0 | 8.6 | 8.3 | 6.8 |
This is climate and events, not booking data. Monthly normals are 2019-2023 averages from the Open-Meteo Historical Weather API (ERA5 reanalysis) at the market pin. We do not hold monthly occupancy or rate data for this market.
Who can reach it
Largest counties within 150 miles
| County | Population |
|---|---|
| Wake County, NC | 1,132,103 |
| Mecklenburg County, NC | 1,115,403 |
| Guilford County, NC | 539,557 |
County populations (U.S. Census Bureau, ACS 2018-2022) summed for every county whose centre lies within each straight-line radius. Straight lines are shorter than roads, so read these as generous upper bounds, not drive-time counts.
What could go wrong
| Hazard | FEMA rating | Score (0-100) |
|---|---|---|
| Hurricane | Relatively Low | 69.2 |
| River flooding | Relatively Low | 62.2 |
| Earthquake | Very Low | 55.2 |
| Winter weather | Relatively Low | 55.2 |
| Wildfire | Very Low | 38.1 |
| Hail | Relatively Low | 35.2 |
| Tornado | Very Low | 17.9 |
This is a county-level index, not an insurance quote or a flood-zone determination. A coastal or wildfire-fringe rental can carry far more exposure than its county average suggests. FEMA does not model coastal flooding for this county, which is not the same as zero risk. Get property-level flood, wind and wildfire quotes before you buy.
Market context
Housing and jobs in Franklin County
U.S. Census Bureau, American Community Survey 2018-2022. Vacation-home share is housing units held for seasonal, recreational or occasional use. All three describe the whole county, not one town or neighbourhood.
What is within 15 km of the Smith Mountain Lake pin
Counts of features mapped in OpenStreetMap within 15 km of the market pin. A fixed radius favours dense metros, and map coverage varies by area.
Similar markets
The 4 tracked markets whose numbers sit closest to Smith Mountain Lake's. Each links to its own report.
Closest by normalised distance across the figures both markets hold (typical 4BR value, revenue, occupancy, regulation rating, vacation-home share, tourism job share, 4+ bedroom share, amenity score, population within 300 miles, comfortable months and FEMA risk score). At most 2 of the 4 come from Virginia, so the list is not just the neighbours. Similar numbers do not mean similar rules: check each market's regulation section.
See Smith Mountain Lake on the map
Open Smith Mountain Lake on the National STR Map to see it against its neighbours, switch overlays and run the deal calculator on your own assumptions.
Smith Mountain Lake STR questions, answered from the data
Is Airbnb legal in Smith Mountain Lake?
STR HUB rates Smith Mountain Lake's short-term rental rules 3/5 (Moderate) on a scale from 1 (relaxed) to 5 (very strict). That rating was derived from the regulation text we hold and has not yet been reviewed by a person. Rules change, so confirm current requirements with the local jurisdiction before you buy or list.
How much does a 4-bedroom home cost in Smith Mountain Lake?
The typical 4-bedroom home in Franklin County is valued at $558,024 (Zillow Home Value Index), and the typical home of any size at $365,972, with all-home values up 4.0% over the past year. These are county-wide typical values, not list prices.
What brings visitors to Smith Mountain Lake?
2 demand drivers sit within 50 miles of Smith Mountain Lake: Caesars Virginia and Smith Mountain Lake. Attendance is shown only where a source publishes it, and each driver's source is linked in the report.
What natural hazards affect Smith Mountain Lake?
FEMA's National Risk Index rates Franklin County "Very Low" overall, with a score of 42.7 out of 100 (a national percentile). The highest-scoring hazards we track there are hurricane and river flooding. It is a county-wide index, not an insurance quote or a flood-zone determination.
When is the weather best in Smith Mountain Lake?
6 of 12 months have an average high between 60°F and 88°F (April, May, June, August, September and October). Four-season climate: comfortable months are spread across the year without one dominant season. These are 2019-2023 climate normals, not booking data.
Sources and method
- Regulation summary and strictness rating: STR Agent HUB regulation research.
- Home values: Zillow Home Value Index (ZHVI), county level. Data provided by Zillow Group.
- Housing, employment and population figures: U.S. Census Bureau, American Community Survey (ACS) 5-year estimates, 2018-2022.
- Natural hazard risk: FEMA National Risk Index, county level.
- Amenity counts: © OpenStreetMap contributors.
- Climate normals: Open-Meteo Historical Weather API (CC BY 4.0), 2019-2023 averages.
- Demand drivers: each entry links its own published source in the list above.
Figures come from the STR HUB national dataset dated September 21, 2026 and this page is regenerated whenever that dataset is rebuilt. County-level figures describe Franklin County as a whole, not one street or neighbourhood. The Opportunity Score (0-100) is a screening heuristic that weighs revenue (35%), regulatory climate (25%), tourism employment (15%), nearby amenities (15%) and large-home supply (10%) relative to the other tracked markets.
Confirm before you act. Short-term rental rules change. Confirm current requirements with the jurisdiction, and work with a licensed local agent who knows which properties can legally operate. This report is screening data, not investment, legal or tax advice.
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