Gatlinburg Falls Homes under $500,000

Welcome to Gatlinburg Falls, a charming subdivision nestled in the heart of Gatlinburg, Tennessee, where the majestic Smoky Mountains provide a breathtaking backdrop to your dream home. This picturesque community is designed for those seeking a peaceful retreat while still being close to the vibrant attractions of Gatlinburg. Here, you’ll find a delightful assortment of homes, many of which are available for under $500,000, making it an ideal choice for first-time buyers, families, or anyone looking to invest in a serene mountain lifestyle.

Gatlinburg Falls boasts a variety of architectural styles, from cozy cabins to modern homes, all designed to harmonize with the natural beauty of the surrounding landscape. The neighborhood is characterized by its friendly atmosphere, where neighbors become friends, and community events foster a sense of belonging. Residents enjoy easy access to a plethora of outdoor activities, including hiking, fishing, and skiing, as well as local attractions like the Great Smoky Mountains National Park, Ripley’s Aquarium, and the charming shops and restaurants of downtown Gatlinburg.

With homes under $500,000, Gatlinburg Falls offers an incredible opportunity to own a piece of this enchanting area without breaking the bank. Imagine sipping your morning coffee on a sun-drenched porch, surrounded by the sounds of nature, or cozying up by the fireplace after a day of adventure. Whether you’re looking for a vacation getaway or a permanent residence, Gatlinburg Falls is the perfect place to call home. Come explore the possibilities and discover the magic of Gatlinburg living!

Newest Gatlinburg Falls Homes under $500,000

$485,000

1 Beds ⋅ 1 Baths ⋅ 3299560 MLS ⋅ ACTIVE Status

Located minutes from downtown Gatlinburg, this authentic log cabin offers the perfect combination of mountain charm, thoughtful updates, and an ideal location for a personal getaway or overnight rental with 1 bedroom and flexible floor plan for additional sleeping spaces. Inside, you'll find an open-concept living area highlighted by floor-to-ceiling wood walls, abundant natural light, and an inviting electric fireplace. The spacious kitchen provides ample cabinetry and workspace and is complemented by a custom dining bar, making it ideal for gathering with family and friends. Recent improvements include NEW flooring installed in 2023 and a NEW refrigerator. The private primary suite offers a king bedroom with its own electric fireplace, dedicated workspace, and direct access to a Jack-and-Jill bathroom featuring a walk-in shower with dual shower heads and body sprayers. Additional sleeping accommodations include a bunk area and a sleeper sofa, allowing the cabin to accommodate larger groups with ease. Designed for entertainment, the game room features a pool table, foosball, air hockey, and plenty of space for game nights with guests of all ages. Step outside to enjoy the peaceful mountain setting from the spacious deck overlooking the creek. Relax in the BRAND NEW HOTTUB, unwind in the rocking chairs or porch swing, and take in the tranquil surroundings. Owners and guests also enjoy access to the seasonal community pool. Conveniently located just minutes from downtown Gatlinburg, Pigeon Forge, the Great Smoky Mountains National Park, and the Arts & Crafts Community, this well-maintained cabin combines a desirable location with attractive updates and exceptional mountain appeal.

511 Houser Rd, Gatlinburg

$459,000

1 Beds ⋅ 2 Baths ⋅ 3280811 MLS ⋅ ACTIVE Status

Prime Location STR Cabin - Less Than 1 Mile to the Gatlinburg Parkway! The property generated $56,000 in gross rental income in 2025. As of the listing going live, approximately $30,000 in bookings are already on the books for 2026. Come fully furnished and turn key! Welcome to Lovin' It, a fun-filled 1BR/2BA + Loft cabin located in Hidden Valley Resort, just minutes from the heart of downtown Gatlinburg. Community Pool in the resort. This turn-key short-term rental investment offers an unbeatable location, easy access roads, and strong guest appeal, perfect for investors or buyers looking for a performing short term rental. The cabin comfortably sleeps up to 6 guests and features a desirable layout with a king bedroom, additional sleeping space in the loft. Guests love the private hot tub and heart-shaped jacuzzi, making it especially popular with couples while still accommodating families and small groups. The game-packed loft sets this property apart, offering arcade games, foosball, a pool table, and a driving simulator, amenities that consistently boost bookings and repeat stays. With convenient parking and no steep mountain roads, accessibility is a major advantage for both guests and owners. Located just minutes from Great Smoky Mountains, Pigeon Forge, and Dollywood, this cabin is positioned in one of the most in-demand STR markets in the Smokies. Whether you're expanding your rental portfolio or looking for a personal getaway that pays for itself, Lovin' It delivers location, amenities, and income potential, all in one exceptional Smoky Mountain investment.

644 Gatlinburg Falls Way, Gatlinburg

$488,000

1 Beds ⋅ 2 Baths ⋅ 3243168 MLS ⋅ ACTIVE Status

Located just 10 minutes from downtown Gatlinburg, this one-bedroom, two-bathroom cabin in the sought-after Gatlinburg Falls resort offers a prime investment opportunity or private escape within city limits. With nearly 1,500 square feet across two full levels, the cabin is thoughtfully designed for both comfort and rental performance. The main level features an open-concept living room with soaring ceilings, a cozy stacked stone fireplace, and abundant natural light, along with a full kitchen, dining space, and the primary bedroom and bathroom. The lower level expands the living space with a generously sized recreation room outfitted with arcade consoles, a pool table, bunk beds, additional lounge seating, and a second full bathroom—perfect for entertaining guests or maximizing rental flexibility. Both levels offer deck access, with the lower level featuring a private hot tub and outdoor seating area, while the main-level deck includes additional furnishings for relaxing or dining al fresco. Notable improvements include a new water heater, new flooring on the lower level, a new shower, new blinds, and a full exterior stain completed in 2022—enhancing both aesthetics and functionality. The cabin has a proven track record as a self-managed short-term rental and benefits from its location in a high-performing community known for strong occupancy and guest satisfaction. Paved roads, city utilities, and community amenities round out the appeal, making this a turn-key option for those seeking immediate rental income or a personal mountain retreat with all the perks of Gatlinburg living.

834 Great Smoky Way, Gatlinburg

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Information Is Believed To Be Accurate But Not Guaranteed. Some or all listings may or may not be listed by the office/agent presenting these featured properties. Copyright 2026 MTRMLS, Inc. RealTracs Solutions.