If you own an RV park, the cap rate a buyer applies is worth more to you than almost any improvement you could make. One point of cap rate on a park with $150,000 of NOI is worth roughly $135,000-$210,000 of price, depending on where in the range you sit. So it's worth knowing where the market is.
2026 RV park cap rates by class
Newmark's 2026 Valuation & Advisory survey added RV parks as their own category this year. The headline numbers:
| Park class | Going-in cap rate | Discount rate | What it looks like |
|---|---|---|---|
| Class A / B | ~8.0% | ~9.5% | Modern utilities, strong reviews, online booking, clean books |
| Class C | ~9.0% | ~10.5% | Solid location, dated infrastructure, owner-run |
The same survey assumes about 3% annual rent growth, 3% expense growth, and roughly $75 per pad per year in replacement reserves. It also notes RV parks trade at a 50-150 basis point premium to manufactured housing communities, because nightly and seasonal income is less predictable than lot rent. (Source: Business Valuation Resources, March 2026.)
What small parks are actually listing at
Survey numbers lean toward institutional-quality parks. Small, owner-run parks usually trade higher. A few 2026 listings show the spread:
| Listing | Sites | Asking price | NOI | Cap rate |
|---|---|---|---|---|
| Trent, TX | 42 | $1,000,000 | $113,801 | 11.4% |
| Brewton, AL | 53 | $1,100,000 | $117,539 | 10.7% |
| Edgewood, NM | 60-76 | $2,600,000 | $229,562 | 8.0% |
Notice the pattern. The two parks around 50 sites with septic and expense ratios near 46-48% are asking 10.7-11.4%. Size, utilities and how clean the operation looks move the cap rate more than the scenery does. These are asking prices; closed deals often land higher.
What pushes your cap rate up (and your price down)
- Septic instead of city sewer. Buyers price in the risk of a failed field.
- Heavy seasonality. Three good months and nine quiet ones means less predictable income.
- Owner-reported books. Numbers that don't match tax returns get discounted or ignored.
- Deferred maintenance. Roads, pedestals, bathhouses. Buyers subtract it and then add a risk premium on top.
- Under 30 sites. Fewer buyers can make the numbers work after paying a manager.
What pulls it down (and your price up)
- A real monthly base. 30-50% long-term guests smooths cash flow.
- Online booking with clean history. Two years of reservation data is proof, not a story.
- Sub-metered utilities. Shows a buyer the expense line is under control.
- Room to grow. Zoned land for more sites or cabins gives a buyer upside to pay for.
The operator's take: you can't control interest rates, but you can control which side of the cap-rate range your park lands on. Moving a park from "Class C, owner-run" to "clean books, booking system, sub-metered" is often worth a full point. That's real money.
Run your own number
Plug your revenue and expenses into the RV Park Valuation Calculator and try each cap rate. Then ask what it would take to earn the lower one.