Sheridan, WY Airbnb Market Data, Statistics, and Occupancy Rates

Sheridan Short-Term Rental Market Overview

Sheridan, WY is a small but growing short-term rental market with 58 active Airbnb listings and an average annual revenue of $25,116 per property. The market's ADR of $187 sits well below the Wyoming state average of $569, though its pronounced summer seasonality — with July revenues exceeding $4,200 — points to strong tourism-driven demand during peak months. Listing supply has grown 82% year over year, signaling rising investor interest, but the 33% average occupancy rate and elevated home values of $712,105 mean careful deal selection is essential.

Key Market Statistics

According to Rabbu market data, the Sheridan short-term rental market shows:

Data sources: Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Mar, 17 2026.

Why Investors Consider Sheridan

Sheridan draws investor interest thanks to its sharp summer tourism season in the Bighorn Mountain region, though the competitive landscape and property pricing call for disciplined underwriting.

Expert Market Assessment

"Sheridan presents a competitive but selective investment opportunity, earning an ROI score of 51 out of 100. Revenue is heavily concentrated in the summer months — July alone generates roughly four times the revenue of January or February — which means investors need to budget for lean winters. The below-average revenue-to-price ratio, driven largely by home values above $712,000, makes it challenging to find properties that pencil out without careful sourcing. That said, the above-average growth trend and manageable supply of just 58 listings suggest this market hasn't yet reached saturation, leaving room for well-positioned properties to capture outsized seasonal returns."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Sheridan

Average revenue by month in Sheridan

Sheridan's revenue profile is sharply seasonal: July leads at $4,213, roughly four times the February low of $1,027, with June through September accounting for the lion's share of annual income. Investors should plan for a concentrated earning window and build reserves for the quieter November-through-March stretch.

Active Airbnb listings by property size in Sheridan

Two-bedroom properties dominate supply with 25 of the 58 active listings, followed by 16 three-bedroom and 13 one-bedroom units. The relative scarcity of 1-bedroom listings could signal either lower demand for smaller units or a potential gap for investors targeting budget-conscious travelers.

Average daily rate (ADR) by property size in Sheridan

ADR scales steadily with size, rising from $119 for 1-bedroom listings to $151 for 2-bedrooms and $206 for 3-bedroom properties. The jump from 2- to 3-bedrooms represents a 36% premium, suggesting that larger properties command meaningfully higher nightly rates relative to the incremental cost of an extra bedroom.

Average RevPAN by property size in Sheridan

Three-bedroom listings deliver the strongest RevPAN at $70, compared to $50 for 2-bedrooms and $39 for 1-bedroom units. This gap highlights that larger properties not only charge more per night but also convert that pricing advantage into better revenue per available night after accounting for occupancy.

Average occupancy rates by property size in Sheridan

Occupancy rates are remarkably flat across all property sizes, ranging from 33% for 1- and 2-bedroom listings to 34% for 3-bedroom properties. This consistency suggests that demand scales proportionally with supply across sizes, and no single configuration enjoys a notable booking-frequency advantage.

Average monthly revenue by property size in Sheridan

Three-bedroom properties lead monthly revenue at $2,827, outpacing 2-bedrooms ($1,855) and 1-bedrooms ($1,713) by a significant margin. The roughly $1,000 monthly gap between 3-bedroom and 2-bedroom listings makes a compelling case for targeting larger units where acquisition costs remain manageable.

Average annual revenue by property size in Sheridan

Annual revenue climbs from $20,562 for 1-bedroom units to $22,269 for 2-bedrooms and $33,926 for 3-bedroom properties. With 3-bedroom listings generating over 52% more revenue than 2-bedroom units, they offer the strongest return potential for investors who can find them at reasonable price points relative to Sheridan's $712,105 average home value.

Most common amenities for Airbnb listings in Sheridan

Parking (98%) and kitchen access (97%) are near-universal, reflecting guest expectations in a car-dependent, vacation-oriented market. Self check-in (85%), washer/dryer (78–81%), and outdoor features like patios (57%) and BBQ grills (52%) round out the essentials, while premium amenities like hot tubs (5%) and EV chargers (9%) remain rare — potentially offering differentiation opportunities for new listings.

Understanding Sheridan's ROI Score: 51/100

Rabbu's ROI Score is a proprietary metric that evaluates short-term rental investment potential based on multiple factors.

How the ROI Score is Calculated

What This Means for Investors

Sheridan's ROI score of 51 out of 100 places it in the 'Competitive Opportunity' band, meaning the market has real potential but requires more selective deal sourcing to achieve strong returns. The below-average revenue-to-price ratio is the primary headwind, driven by home values that outpace what current rental income easily supports, while average occupancy stability and a below-average supply/demand balance add further caution. On the positive side, the above-average market growth trend suggests expanding demand — investors who pair this data with thorough local regulatory research and target high-performing 3-bedroom properties may find pockets of opportunity.

Short-Term Rental Regulations in Sheridan

Understanding local STR regulations is essential before investing in Sheridan. Here's the current regulatory landscape:

Permit Requirements

Short-term rental operators in Sheridan, Wyoming may need to obtain a business license or STR permit before listing their property. Investors should verify current requirements directly with the City of Sheridan and Sheridan County, as local rules can change and may differ between incorporated and unincorporated areas.

Key Restrictions

Common STR restrictions in Wyoming communities can include occupancy limits, parking requirements, noise ordinances, and minimum stay rules. HOA covenants may impose additional limitations or outright prohibit short-term rentals in certain neighborhoods, so reviewing CC&Rs before purchasing is advisable.

Tax Obligations

Wyoming does not impose a state income tax, but STR operators in Sheridan are generally subject to state and local lodging taxes. Many booking platforms collect and remit these taxes automatically, though hosts should confirm compliance with the Wyoming Department of Revenue.

Regulations subject to change. Always verify with local authorities before purchasing. A Rabbu partner agent specializing in Sheridan can provide current regulatory guidance.

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Sheridan's STR market is expected to continue benefiting from above-average growth trends, with summer months likely remaining the primary revenue driver. Occupancy could settle in the 30–35% range on an annualized basis, though peak-season months from June through September may push well above that. ADR increases of 2–5% are plausible as more hosts optimize pricing around summer demand, but the rapid 82% growth in supply could apply downward pressure on occupancy if demand doesn't keep pace. Investors should plan conservatively for softer winter months, when revenues may dip below $1,100."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Sheridan, WY

What is the average Airbnb occupancy rate in Sheridan?

The average occupancy rate for Airbnb listings in Sheridan is currently 33%, which falls below the Wyoming state average of 48%. Occupancy is fairly consistent across property sizes, with 1- and 2-bedroom units at 33% and 3-bedroom properties at 34%. The lower annualized rate reflects Sheridan's sharp seasonality, where summer months drive the bulk of bookings while winter sees significantly lighter demand.

How much do Airbnb hosts make in Sheridan?

Airbnb hosts in Sheridan earn an average of $2,093 per month and approximately $25,116 per year based on trailing 12-month booking data. Revenue varies significantly by property size: 1-bedroom listings average $20,562 annually, 2-bedrooms bring in around $22,269, and 3-bedroom properties lead at $33,926 per year. Seasonality plays a major role, with July peaking at $4,213 in average monthly revenue and winter months dipping below $1,100.

Is Sheridan a good market for Airbnb investment?

Sheridan scores a 51 out of 100 on Rabbu's ROI Score, placing it in the 'Competitive Opportunity' category. The market has above-average growth and a relatively small supply of 58 listings, which can work in an investor's favor. However, elevated home values ($712,105 average) and a below-average revenue-to-price ratio mean investors need to be selective about deal sourcing. Properties that can capture strong summer demand — particularly 3-bedroom configurations — have the best return potential.

What is the average daily rate (ADR) for Airbnb in Sheridan?

The average daily rate for Airbnb listings in Sheridan is $187, which is considerably lower than the Wyoming state average of $569. ADR scales with property size: 1-bedroom listings average $119 per night, 2-bedrooms average $151, and 3-bedroom properties command $206. While rates are modest compared to resort-heavy Wyoming markets, they align with the local demand profile and price point.

Are short-term rentals legal in Sheridan?

Short-term rentals are generally permitted in Sheridan, WY, though operators may need to obtain appropriate permits or business licenses from the city. Local regulations can include requirements around occupancy limits, parking, noise, and other operational standards. It's important to verify the latest rules with the City of Sheridan and check any HOA restrictions that may apply to specific properties before purchasing.

When is peak season for Airbnb in Sheridan?

Peak season in Sheridan runs from June through September, with July standing out as the top-earning month at $4,213 in average revenue. June ($3,510) and August ($3,178) are also strong performers. The off-season stretches from November through March, when monthly revenues typically fall between $1,027 and $1,572. This pronounced seasonality means most of the annual income is earned during a concentrated summer window.

How many Airbnbs are there in Sheridan?

Sheridan currently has 58 active Airbnb listings. The supply breaks down to 13 one-bedroom units, 25 two-bedroom properties, and 16 three-bedroom listings. Notably, listing count has grown 82% year over year, indicating rising investor interest in the market — though the overall supply remains relatively small compared to larger Wyoming destinations.

How is Airbnb revenue calculated in Sheridan?

The annual and monthly revenue figures for Sheridan are derived from the trailing 12 months of historical booking performance for active comparable Airbnb listings in the market — they are not forward-looking projections. We average each comparable listing's actual revenue per available night (RevPAN) by month over the past year, remove regional outliers, and aggregate the results into a market-level historical average. Because each month uses its own historical data, the figures naturally reflect seasonal peaks and slower periods. Individual results can vary meaningfully based on property quality, pricing strategy, amenities offered, and how actively the listing is managed.

About Rabbu Market Data

Rabbu provides Airbnb and short-term rental market data and statistics across the United States. Our mission is to empower investors with accurate insights and easy-to-use tools, so they can confidently identify and act on the best opportunities in the Airbnb market.

What this data includes

• Regularly updated active Airbnb and STR listing counts for the Sheridan, WY market
• Average daily rate, occupancy, and RevPAN trends across property sizes
• Monthly and annual revenue estimates based on trailing 12-month booking data
• Home value benchmarks sourced from Zillow Home Value Index (ZHVI)
• Popular amenity prevalence across active listings to guide property setup decisions

Sources and disclaimers

Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Mar, 17 2026. Revenue projections are estimates based on comparable properties and do not guarantee future performance. Data reflects trailing 12-month averages and current snapshots; market conditions can shift due to regulatory changes, economic trends, or seasonal factors. Local STR regulations vary and may change — always verify permit requirements and tax obligations with municipal and county authorities before investing.