UPDATE: Branson STRs in 2026 – What Market now?

Branson, Missouri
Short-Term & Vacation Rental Discussions
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UPDATE: Branson STRs in 2026 – What Market now?

Lisa Lister
Realtor · BRANSON, MO · Member since 2023 · 29 posts · 8 votes

I wrote a post on BiggerPockets a couple of years ago about the Branson STR market, and wow… things have changed!

I’m a local Realtor here in Branson, but I’m also an investor myself, so I get to see this market from both sides. And right now, I genuinely think there are some really interesting opportunities for buyers.

We are firmly in a buyer’s market. Properties are sitting longer, there’s more inventory to choose from, and we’re seeing sellers reduce prices and become much more open to negotiation.

Some investors who bought during the craziness of 2021–2023 are also deciding it’s time to move on. In some cases, they’re willing to sell for less than they originally paid.

Does that mean every STR in Branson is suddenly a great deal? Definitely not. If anything, I think investors need to be more selective now.

I'm spending a lot of time with my investor clients looking at actual rental history, HOA/COA financials, management costs, amenities and realistic expenses rather than just looking at a projected gross income and getting excited.

There’s also a LOT of competition for guests now. The average property isn’t necessarily going to perform simply because it’s in Branson and allows nightly rentals. The properties doing well tend to have something that makes them stand out, like great views, pools, hot tubs, lake access, larger sleeping capacities or simply really good presentation and management.

One thing I really like about today's market, though, is that buyers can finally take their time.

You can compare properties. You can ask questions. You can negotiate. And you can walk away if the numbers don't make sense.

I’m still very bullish on Branson long-term. We have millions of visitors, Silver Dollar City, Table Rock Lake, golf, shows and a huge drive-to tourism market.

But I think the question has changed.

A couple of years ago it was: “Where can I buy a Branson STR?”  In 2026, it’s: “Which Branson STR is actually worth buying?”

And honestly, I think that's a much healthier market for investors.

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
1mo

probably the natural pendulum swing of the next shinny object that STR seemed to be in that time frame.. The better operators will do just fine the ones that thought they would jump in but are not on top of it will be the ones that phase out. IMHO

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  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    1mo

    Sounds like a very similar market to Pigeon Forge where I am.

    1Reply
    • Jay HinrichsBusiness Member
      Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
      1mo

      probably the natural pendulum swing of the next shinny object that STR seemed to be in that time frame.. The better operators will do just fine the ones that thought they would jump in but are not on top of it will be the ones that phase out. IMHO

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    • Collin HaysBusiness Member
      Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
      1mo
      Quote from @John Underwood:

      Sounds like a very similar market to Pigeon Forge where I am.


       Branson is a twin of the TN Smokies market in many ways.   

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  • Michael Eskenasy
    Investor · Pacific Northwest · Member since 2026 · 538 posts · 305 votes
    1mo

    The part I’d be most interested in is whether the “buyer’s market” is actually creating bargains or just finally repricing properties to what the operating business underneath them can support.

    A property selling below its 2022 purchase price isn't necessarily cheap if ADR, occupancy, management costs, insurance, HOA expenses, and guest acquisition have all moved against it since then.

    You mentioned the better performers have a reason to be chosen — views, pools, lake access, capacity, presentation. That feels like the real dividing line now. The generic STR may have lost pricing power, while properties with an actual demand advantage still own something defensible.

    Are you seeing that separation clearly in the trailing rental histories yet — where the differentiated properties are holding occupancy/ADR while the average ones are getting punished?

    2Reply
    • Lisa Lister
      OP
      Realtor · BRANSON, MO · Member since 2023 · 29 posts · 8 votes
      1mo
      Quote from @Michael Eskenasy:

      The part I’d be most interested in is whether the “buyer’s market” is actually creating bargains or just finally repricing properties to what the operating business underneath them can support.

      A property selling below its 2022 purchase price isn't necessarily cheap if ADR, occupancy, management costs, insurance, HOA expenses, and guest acquisition have all moved against it since then.

      You mentioned the better performers have a reason to be chosen — views, pools, lake access, capacity, presentation. That feels like the real dividing line now. The generic STR may have lost pricing power, while properties with an actual demand advantage still own something defensible.

      Are you seeing that separation clearly in the trailing rental histories yet — where the differentiated properties are holding occupancy/ADR while the average ones are getting punished?

      Great question, and as a Branson investor myself, I’m actually not seeing a significant drop in gross rental revenue on my own properties.

      My borrowing costs have certainly increased over the last few years, along with some operating expenses, but not to the point where they’ve significantly hurt my bottom line.

      I think that’s part of what still makes Branson interesting. We continue to see over 10 million visitors a year, yet our property prices are still relatively affordable compared with many established vacation markets, which can create a pretty attractive price-to-rent ratio.

      Where I absolutely agree with you is the separation between the generic STR and one that gives guests a reason to choose it. I think that's becoming increasingly important. For me, the opportunity right now is finding a property that already has strong amenities OR finding one where there's an opportunity to create that differentiation. Whether that's internally through design, sleeping capacity and unique features, or externally by adding amenities where the property and COA allow it.

      So I don’t necessarily see the buyer’s market as “everything is a bargain.” I see it as buyers having more opportunity to purchase the right property at a better basis and then make sure it has something that helps it compete.
       

      0Reply
  • Michael Eskenasy
    Investor · Pacific Northwest · Member since 2026 · 538 posts · 305 votes
    1mo

    That actually makes this more interesting to me, because what you're describing isn't really a market-selection problem anymore. It's an underwriting problem.

    You're trying to distinguish between a property that already has an advantage, one where an advantage can realistically be created, and one where you'd just be spending money trying to make a commodity look different.

    If you're game, send me one property you're currently looking at for an investor — preferably one that's not an obvious yes or no.

    I'll run it cold from the buyer's side: acquisition basis, actual rental history if we can get it, competitive set, what guests are paying for nearby, amenity gap, COA/HOA constraints, and what I'd actually spend money changing versus leave alone.

    Then we can compare my read with yours as the person actually operating in Branson.

    I think that would be a much more useful test than us debating the market in the abstract.

    0Reply
  • Lisa Lister
    OP
    Realtor · BRANSON, MO · Member since 2023 · 29 posts · 8 votes
    1mo

    Absolutely - great idea! I have a couple of off markets, which are tricky to easily share, but this listed condo is one I have 2 clients interested in pursuing. This one does come with a garage, which seller is happy to exclude from the sale (valued at around $50K) and there is money to put into this one too - furnishings, flooring. However pulling in $55,000 gross with insane views of Table Rock Lake. Let me know your thoughts - https://www.flexmls.com/share/EXQK7/200-Majestic-Dr-412-Bran...

    0Reply
    • Trent Reeve
      Atlanta · Member since 2022 · 710 posts · 640 votes
      1mo
      Quote from @Lisa Lister:

      Absolutely - great idea! I have a couple of off markets, which are tricky to easily share, but this listed condo is one I have 2 clients interested in pursuing. This one does come with a garage, which seller is happy to exclude from the sale (valued at around $50K) and there is money to put into this one too - furnishings, flooring. However pulling in $55,000 gross with insane views of Table Rock Lake. Let me know your thoughts - https://www.flexmls.com/share/EXQK7/200-Majestic-Dr-412-Bran...


       so help me out here just looking, $499k purchase price, with $55k gross rent. That doesnt sound very good. At an average mortgage rate, just the monthly alone with condo dues is around $46k annually. add in utilities, normal rental taxes, cleaning costs, repairs. sounds like it would cost money rather than make money.

      1Reply
  • Lisa Lister
    OP
    Realtor · BRANSON, MO · Member since 2023 · 29 posts · 8 votes
    1mo

    Totally agree Jay. Some investors bought thinking Branson is an easy market, yes on paper properties make sense, but how those STRs are run and hosted makes all the difference. My husband and I self manage, so there are the benefits to our bottom line there, but a cash cow is harder to find. My outlook is, if the property is paying for itself and offers me the tax incentives to take advantage of, why would I leverage out of Branson at this time?

    0Reply
  • Mike GrudzienPro Member
    Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes
    1mo

    Yes, many popular resort destinations got flooded in the '21, '22 gold rush.  Now is time for market correction.  "I should have bought 4 years ago!"

    1Reply
  • J CastroBusiness Member
    Lender · Florida · Member since 2025 · 684 posts · 246 votes
    1mo

    Well said @Lisa Lister. From the lending side, this is exactly how we believe investors should be looking at today’s market.

    One of the biggest mistakes we see is deciding on the exit strategy before fully underwriting the opportunity.

    A property shouldn’t automatically be labeled a “flip” or a “rental” at acquisition.

    We encourage investors to underwrite the deal through multiple scenarios:

    1- Flip
    What is the realistic ARV? After acquisition, rehab, interest, closing costs, commissions and other expenses, is there enough margin?

    2- Hold
    After stabilization, does the property produce enough rental income to support the debt and operating expenses while still providing an acceptable return?

    3- Refinance / BRRRR
    Can the investor create enough value through the acquisition and rehab to support a refinance that allows them to recover capital while maintaining a sustainable rental?

    And there’s a fourth question that often gets overlooked:

    What happens if the original exit doesn’t go according to plan?

    That question is particularly important from a lender’s perspective.

    We don’t want an investor relying on a perfect appraisal, perfect rental projections or a perfect resale market. We want to see a deal that has multiple viable paths and reasonable assumptions.

    Whether the ultimate strategy is Fix & Flip, BRRRR, DSCR refinance, or long-term hold, the numbers should drive the decision—not the other way around.

    In today’s market, flexibility isn’t just an advantage. It can be part of the risk-management strategy.

    We’re always happy to look at a deal from the financing side and help investors understand what options may fit their strategy.

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  • Andrew SteffensBusiness Member
    Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
    1mo

    I feel this describes many if not most of popuar markets now.  Carefully selected opportunities create good outcomes.

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  • Kyle Smith
    New to Real Estate · Member since 2020 · 220 posts · 107 votes
    1mo

    Branson is a very tough market. Tread carefully.

    1Reply
    • Lisa Lister
      OP
      Realtor · BRANSON, MO · Member since 2023 · 29 posts · 8 votes
      1mo

      I agree, but the penthouse condo I shared previously has THE best views of Table Rock Lake, which is the draw for owners who use their STRs as well. I would expect gross income on a well managed and hosted 3 bed lake view condo to exceed the current $55K. This is why my clients are considering this property. 

      It’s always worth speaking with someone who knows the market and communities well from a historical market prospective, but also historical income. There are plenty of opportunities on 2 bedroom condos right now that are around $150K with a gross income of $20K+. I have a client who is personally doing $35K gross in one of these! She is a great host ;) Now these are not the most desirable with good amenities, or views etc, but they rent and rent consistently. Especially to families visiting Branson for sporting events or a budget friendly getaway. 

      There are also some wonderful creative / seller financing options here right now too!

      0Reply
  • Caleb Brown
    Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
    1mo

    Interesting. It'd be fun to have a property there, only a few hour drive from KC

    0Reply
    • Lisa Lister
      OP
      Realtor · BRANSON, MO · Member since 2023 · 29 posts · 8 votes
      1mo
      Quote from @Caleb Brown:

      Interesting. It'd be fun to have a property there, only a few hour drive from KC


      There are a LOT of investors here from KC and surrounding area. Most invest so they have a lake vacation home for themselves and family/friends to take advantage of, whilst the place is at least paying for itself (in this current market). I am not a tax professional, but the tax benefits that can be taken advantage of are also a big draw with STR properties.

      0Reply
  • Diana KhanPro Member
    Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 403 posts · 164 votes
    1mo
    Quote from @Lisa Lister:

    I wrote a post on BiggerPockets a couple of years ago about the Branson STR market, and wow… things have changed!

    I’m a local Realtor here in Branson, but I’m also an investor myself, so I get to see this market from both sides. And right now, I genuinely think there are some really interesting opportunities for buyers.

    We are firmly in a buyer’s market. Properties are sitting longer, there’s more inventory to choose from, and we’re seeing sellers reduce prices and become much more open to negotiation.

    Some investors who bought during the craziness of 2021–2023 are also deciding it’s time to move on. In some cases, they’re willing to sell for less than they originally paid.

    Does that mean every STR in Branson is suddenly a great deal? Definitely not. If anything, I think investors need to be more selective now.

    I'm spending a lot of time with my investor clients looking at actual rental history, HOA/COA financials, management costs, amenities and realistic expenses rather than just looking at a projected gross income and getting excited.

    There’s also a LOT of competition for guests now. The average property isn’t necessarily going to perform simply because it’s in Branson and allows nightly rentals. The properties doing well tend to have something that makes them stand out, like great views, pools, hot tubs, lake access, larger sleeping capacities or simply really good presentation and management.

    One thing I really like about today's market, though, is that buyers can finally take their time.

    You can compare properties. You can ask questions. You can negotiate. And you can walk away if the numbers don't make sense.

    I’m still very bullish on Branson long-term. We have millions of visitors, Silver Dollar City, Table Rock Lake, golf, shows and a huge drive-to tourism market.

    But I think the question has changed.

    A couple of years ago it was: “Where can I buy a Branson STR?”  In 2026, it’s: “Which Branson STR is actually worth buying?”

    And honestly, I think that's a much healthier market for investors.

    @Lisa Lister, one thing I’ve learned in real estate is that a buyer’s market gives you more than just room to negotiate the price.

    It also gives you time to slow down and really look at what you are buying. With an STR, especially a condo, I'd want to understand the HOA or COA rules, any planned assessments, insurance, rental restrictions, and whether there are any changes being discussed that could affect how the property is used.

    I’ve seen buyers get very focused on the income and the purchase price, then find out later that something in the property rules changes the whole picture.

    That is one thing I really like about the market you’re describing. Buyers finally have a little room to ask more questions, read the documents, and walk away if something does not feel right.

    A lower price is great, but having enough time to make a good decision can be just as valuable.

    [email protected]240-266-0291
    1Reply
  • Matthew Tregoning
    Property Manager · Melbourne, FL · Member since 2019 · 245 posts · 121 votes
    1mo

    Branson being cheaper doesn't automatically make it a deal. I'd want trailing statements, current comp bookings and the HOA financials. A discount from somebody's bad 2022 purchase price is still not value.

    0Reply
    • Lisa Lister
      OP
      Realtor · BRANSON, MO · Member since 2023 · 29 posts · 8 votes
      1mo
      Quote from @Matthew Tregoning:

      Branson being cheaper doesn't automatically make it a deal. I'd want trailing statements, current comp bookings and the HOA financials. A discount from somebody's bad 2022 purchase price is still not value.

      Totally agree with you Matthew. It all comes down to the numbers for sure.
      0Reply
  • Ashish AcharyaBusiness Member
    CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
    1mo

    Lisa, I like the shift in how you’re framing this. The question really isn’t “Is Branson good or bad?” anymore, it’s whether a specific property still works after realistic expenses, realistic occupancy, and realistic tax assumptions.

    For STRs, I’d add one more layer to the underwriting beyond gross revenue: how the property is likely to be treated for tax purposes. Average guest stay, material participation, management involvement, depreciation, and cost segregation can materially change the after-tax return, but none of those should be used to make a weak property look strong.

    I'd also pay close attention to the HOA/COA side. For resort-style properties, dues, assessments, insurance allocations, rental restrictions, and reserve funding can change the economics quickly, especially if you're underwriting off historical gross revenue alone.

    From the tax side, if an investor is hoping to use STR losses against W-2 or other active income, they should be planning material participation and documentation from day one, not trying to recreate it at year-end. And if cost segregation is part of the plan, I'd still model whether the accelerated losses are actually usable.

    The best STR deals right now are probably the ones that still make sense before the tax benefits are layered in.

    Happy to connect and share some of our resources that might be helpful!

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    • Lisa Lister
      OP
      Realtor · BRANSON, MO · Member since 2023 · 29 posts · 8 votes
      1mo

      Thank you for your insight Ashish. Always important to hear from a CPA and hear the recommendations from your side of the business. Great conversations here!

      0Reply
    • Ashish AcharyaBusiness Member
      CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
      1mo
      Quote from @Lisa Lister:

      Thank you for your insight Ashish. Always important to hear from a CPA and hear the recommendations from your side of the business. Great conversations here!


       Ofcourse Lisa, you can always DM or reach out to me if you need any assistance.

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