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

Thermopolis Short-Term Rental Market Overview

Thermopolis, WY stands out for its favorable revenue-to-price ratio, with average home values around $280,476 and annual STR revenue averaging $20,817 — a combination that gives investors more room to hit positive cash flow than many Wyoming markets. The town's appeal as a hot-springs destination and gateway to outdoor recreation drives a pronounced summer tourism season, while the small supply of just 34 active listings keeps direct competition manageable. With an ROI score of 66 out of 100, Thermopolis lands in "Attractive Opportunity" territory, though investors should plan carefully around the market's strong seasonal swings.

Key Market Statistics

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

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

Why Investors Consider Thermopolis

Thermopolis combines one of Wyoming's more affordable entry points with above-average revenue relative to property costs, making it appealing for investors who can navigate its seasonal demand patterns.

Expert Market Assessment

"Thermopolis earns an "Attractive Opportunity" designation, driven primarily by its strong revenue-to-price ratio and manageable competition. Seasonality is the defining feature here: August leads with average revenue of $3,110, while January dips to just $641 — nearly a 5× swing that investors must budget around. Two-bedroom and three-bedroom properties offer the best balance of occupancy and revenue, and the market's affordable entry point provides a cushion that more expensive Wyoming resort towns don't. Investors who can optimize pricing during the May-through-September peak and creatively fill winter months will find the most upside."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Thermopolis

Average revenue by month in Thermopolis

Thermopolis displays dramatic seasonality, with August peak revenue of $3,110 roughly five times higher than the January low of $641. The prime earning window runs June through September, and investors should expect roughly 55–60% of annual revenue to concentrate in those four months.

Active Airbnb listings by property size in Thermopolis

Supply is distributed fairly evenly across bedroom counts, with 1-bedroom and 2-bedroom listings each accounting for 9 units, 3-bedrooms at 8, and 4-bedrooms at 5. The relatively small gap between sizes means no single configuration dominates, though the limited 4-bedroom inventory could represent a niche opportunity given those units' higher revenue potential.

Average daily rate (ADR) by property size in Thermopolis

ADR climbs from $116 for 1-bedroom listings to $194 for 4-bedrooms, though the jump from 3-bedrooms ($192) to 4-bedrooms is minimal — just $2. The steepest value step is from 2-bedrooms at $142 to 3-bedrooms, suggesting the 3-bedroom configuration offers a strong rate premium relative to the incremental cost.

Average RevPAN by property size in Thermopolis

Two-bedroom properties lead RevPAN at $50, significantly outperforming 3-bedrooms ($35), 4-bedrooms ($23), and especially 1-bedrooms ($5). This signals that 2-bedroom units generate the most efficient revenue per available night once occupancy is factored in, making them the strongest performers on a per-night basis.

Average occupancy rates by property size in Thermopolis

Occupancy varies widely: 2-bedroom units fill at 35% — nearly double the 18% rate for 3-bedrooms and well ahead of 4-bedrooms at 12%. One-bedroom listings occupy at just 4%, suggesting that the smallest units in Thermopolis struggle to attract consistent bookings and may face viability challenges.

Average monthly revenue by property size in Thermopolis

Four-bedroom homes top monthly revenue at $2,254, followed closely by 3-bedrooms at $2,107 and 2-bedrooms at $1,778. One-bedroom listings lag dramatically at just $173/month, reinforcing that multi-bedroom properties are essential for generating meaningful income in this market.

Average annual revenue by property size in Thermopolis

Annual revenue ranges from $2,081 for 1-bedroom units to $27,055 for 4-bedrooms, with the $25,285 earned by 3-bedroom properties coming close. Against an average home value of $280,476, the 4-bedroom and 3-bedroom configurations offer the strongest gross yield potential, though investors should weigh higher acquisition and maintenance costs for larger homes.

Most common amenities for Airbnb listings in Thermopolis

Parking is universal (100%) among Thermopolis listings, reflecting the car-dependent nature of the area, while kitchen (82%), washer (82%), and dryer (79%) form the baseline amenity set. Half of listings allow pets and about 47% offer grills and patios — amenities that cater to the outdoor-oriented traveler profile and could serve as differentiators for listings that lack them.

Understanding Thermopolis's ROI Score: 66/100

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

Thermopolis earns a 66/100 ROI Score, placing it in the "Attractive Opportunity" band — driven largely by an above-average revenue-to-price ratio that makes it easier for hosts to cover acquisition costs relative to income. Occupancy stability and supply/demand balance both rate as average, while market growth trend scores below average, reflecting that rapid listing growth could dilute per-host performance. Pairing these metrics with thorough local regulatory research will help investors determine whether Thermopolis aligns with their risk tolerance and return targets.

Short-Term Rental Regulations in Thermopolis

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

Permit Requirements

Thermopolis and the state of Wyoming may require short-term rental operators to obtain business licenses or register their properties before listing them. Investors should verify current permit and registration requirements with the Town of Thermopolis and Hot Springs County before purchasing.

Key Restrictions

Common STR restrictions in small Wyoming communities can include occupancy limits per bedroom, parking requirements for guests, noise ordinances, and potential HOA covenants that restrict or prohibit short-term rentals. Because local rules can evolve, it's wise to confirm any minimum-stay mandates or zoning limitations directly with municipal authorities.

Tax Obligations

Wyoming does not impose a state income tax, but STR operators in Thermopolis should expect to collect and remit state and local lodging taxes on each booking. Many booking platforms handle tax collection automatically, though hosts should confirm compliance with Hot Springs County and the Wyoming Department of Revenue.

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

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Thermopolis is likely to see continued summer-driven demand, with peak-month revenues potentially holding in the $2,800–$3,100 range as travelers seek affordable Wyoming getaways centered on Hot Springs State Park and surrounding recreation. The 206% year-over-year growth in active listings signals that other investors are discovering the market, which could temper per-host occupancy if supply outpaces visitor growth. ADR may hold steady or nudge up 1–3% for well-positioned properties, but the market's 19% average occupancy suggests off-season strategies — such as targeting remote workers or long-term winter stays — will be essential for sustaining year-round cash flow. Investors should treat revenue estimates conservatively and monitor how the expanding supply affects booking volumes through slower months."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Thermopolis, WY

What is the average Airbnb occupancy rate in Thermopolis?

The average Airbnb occupancy rate in Thermopolis is currently 19%, which sits well below the Wyoming state average of 48%. Occupancy varies significantly by property size — 2-bedroom units lead at 35%, while 1-bedrooms trail at just 4%. The low overall average reflects the market's strong seasonality, with most bookings concentrated in the summer months.

How much do Airbnb hosts make in Thermopolis?

On average, Airbnb hosts in Thermopolis earn about $1,734 per month or $20,817 per year based on trailing 12-month data. Earnings scale notably with property size: 4-bedroom homes average $2,254/month ($27,055 annually), while 1-bedroom listings bring in roughly $173/month. The summer months from June through September represent the bulk of annual income.

Is Thermopolis a good market for Airbnb investment?

Thermopolis scores 66 out of 100 on Rabbu's ROI Score, placing it in the "Attractive Opportunity" category. Its above-average revenue-to-price ratio is a standout strength, and the small supply of 34 active listings means competition is limited. The main consideration is pronounced seasonality — winter occupancy is low, so investors need a strategy for off-peak months to maintain consistent cash flow.

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

The average daily rate in Thermopolis is $161, compared to the Wyoming state average of $569. Rates range from $116 for 1-bedroom listings up to $194 for 4-bedroom properties. While these rates are modest by state standards, the market's low property values mean the revenue-to-cost ratio can still work in an investor's favor.

Are short-term rentals legal in Thermopolis?

Short-term rentals do operate in Thermopolis, with 34 active Airbnb listings currently on the market. However, local permit requirements, zoning rules, and tax obligations can change, so prospective investors should verify current regulations with the Town of Thermopolis and Hot Springs County before acquiring a property.

When is peak season for Airbnb in Thermopolis?

Peak season in Thermopolis runs from June through September, with August generating the highest average monthly revenue at $3,110. July ($2,806) and September ($2,609) are also strong months. The off-season spans November through March, when average monthly revenue drops to the $641–$1,498 range — highlighting the importance of summer performance to annual returns.

How many Airbnbs are there in Thermopolis?

As of April 2026, there are 34 active Airbnb listings in Thermopolis. Supply is fairly evenly distributed: 9 one-bedroom listings, 9 two-bedrooms, 8 three-bedrooms, and 5 four-bedrooms. Notably, active listings have grown 206% year-over-year, so the competitive landscape is evolving quickly.

How is Airbnb revenue calculated in Thermopolis?

The annual and monthly revenue figures for Thermopolis 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 roll the results up to a market-level historical average. This approach anchors the figures to what hosts have actually earned recently while naturally reflecting seasonal peaks and slower months, since each month draws on its own historical data. Individual results can vary based on property quality, pricing strategy, and operational management.

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 Thermopolis market
• Average daily rate, occupancy, and RevPAN metrics across property sizes
• Monthly and annual revenue trends based on trailing 12-month booking data
• Popular amenity prevalence across active listings
• Home value data sourced from the Zillow Home Value Index (ZHVI)

Sources and disclaimers

Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Apr, 27 2026. Revenue projections are estimates based on comparable properties and do not guarantee future performance. Data reflects trailing 12-month performance as of April 2026 and may not capture very recent market shifts. Local regulations, tax requirements, and permit rules can change; always verify with municipal and county authorities before investing.