Wyoming is home to many thriving short-term rental markets, but identifying the top-performing cities can be overwhelming, especially when combing through data from countless locations across the state.
To simplify this process, we analyzed data from markets statewide and compiled a list of the top 6 cities for investors and landlords seeking potentially high-return rental properties in the coming year.
As always, we recommend thorough underwriting and analysis of any prospective property and a review of local short-term rental regulations before making any investment decisions.
How We Created This List
First, we looked at all Airbnb listings in Wyoming that met the following criteria as of January 2025:
- Average Rating: 4.8 stars and above
- Guest Review Count: Minimum of 10
- Average Daily Rate: $1 (minimum) to $2,000 (maximum)
- Occupancy Rate: 1% (minimum) to 99% (maximum)
- Property Size: 1 to 10 bedrooms
- Property Type: Entire homes
We did this to eliminate Airbnb listings from our analysis that fall outside of what we consider "realistic" situations. This left us with a total of 955 Airbnb listings across the state of Wyoming to work with.
Next, we grouped these listings by city and eliminated markets that didn't have at least 75 Airbnb listings meeting the above criteria. We took this step to avoid outlier cities we felt didn't have enough data to be considered at this current time. This left us with 6 cities in Wyoming to rank.
Then, we needed to arrive at a gross yield number for each of our remaining cities in order to create our rankings. We did this by taking the average annual Airbnb revenue for each city and combining it with the cities median property value (from Zillow as of December 2024) to calculate our gross yield for each city.
Finally, we ordered the cities by highest gross yield.
The Top 6 STR Markets in Wyoming
1. Casper, WY
Casper, WY, offers a thriving short-term rental market that appeals to real estate investors seeking lucrative returns. Known for its vibrant arts scene and outdoor attractions like the scenic Casper Mountain and North Platte River, it's a haven for tourists and adventure seekers. The city hosts exciting events such as the annual College National Finals Rodeo, drawing numerous visitors and boosting rental income for Airbnb hosts. With a welcoming atmosphere and a robust housing market, Casper stands out as one of the best places for investment property in vacation rentals.
Key STR Metrics:
- Average Gross Yield: 6.1%
- Average Property Value: $446,981 (as of December 2024)
- Average Annual Revenue: $27,375 (past 12 months)
- Average Occupancy Rate: 40% (past 12 months)
- Qualifying Airbnbs: 104 (as of January 2025)
- Year-Over-Year Growth in Airbnbs: 134%
Find Airbnbs For Sale in Casper, WY →
2. Laramie, WY
Nestled between picturesque mountain ranges, Laramie, WY, is a hidden gem for real estate investors eyeing the short-term rental market. Known for attractions like the University of Wyoming and the thrilling annual Jubilee Days rodeo, this vibrant city offers ample tourism opportunities. Visitors flock to enjoy its natural beauty, while the Laramie Plains Museum and lively sports events add to its appeal. Vacation homes here promise good returns, making it an ideal spot for Airbnb hosts seeking steady rental income and cash flow.
Key STR Metrics:
- Average Gross Yield: 5.8%
- Average Property Value: $517,493 (as of December 2024)
- Average Annual Revenue: $29,930 (past 12 months)
- Average Occupancy Rate: 48% (past 12 months)
- Qualifying Airbnbs: 120 (as of January 2025)
- Year-Over-Year Growth in Airbnbs: 103%
Find Airbnbs For Sale in Laramie, WY →
3. Cody, WY
Cody, WY, is a vibrant hub for visitors exploring the gateway to Yellowstone National Park, making it one of the best places for real estate investors seeking short-term rental properties. With attractions like the Buffalo Bill Center of the West and year-round events such as the Cody Stampede Rodeo, tourists are drawn to the area's rich Western heritage. As a potential vacation rentals hotspot in the housing market, Cody offers vacation homes with good return potential, providing lucrative cash flow for airbnb hosts looking to capitalize on robust tourism.
Key STR Metrics:
- Average Gross Yield: 5.8%
- Average Property Value: $774,543 (as of December 2024)
- Average Annual Revenue: $44,621 (past 12 months)
- Average Occupancy Rate: 45% (past 12 months)
- Qualifying Airbnbs: 209 (as of January 2025)
- Year-Over-Year Growth in Airbnbs: 93%
Find Airbnbs For Sale in Cody, WY →
4. Cheyenne, WY
Cheyenne, WY, a burgeoning hub for short-term rental properties, boasts attractions like the Cheyenne Frontier Days, the world's largest outdoor rodeo, and rich Western heritage celebrated at museums like the Wyoming State Museum. Visitors can enjoy historic railroads or catch events at the Cheyenne Ice and Events Center. With a strong tourism pull, Cheyenne presents real estate investors opportunities in the vacation rentals market, promising good returns in a dynamic housing market with solid rental income potential.
Key STR Metrics:
- Average Gross Yield: 5.0%
- Average Property Value: $535,766 (as of December 2024)
- Average Annual Revenue: $26,523 (past 12 months)
- Average Occupancy Rate: 41% (past 12 months)
- Qualifying Airbnbs: 203 (as of January 2025)
- Year-Over-Year Growth in Airbnbs: 74%
Find Airbnbs For Sale in Cheyenne, WY →
5. Jackson, WY
Jackson, WY is a prime location for short-term rental properties, boasting vibrant tourism driven by its proximity to Grand Teton and Yellowstone National Parks. Outdoor enthusiasts and tourists flock here for hiking, skiing, and wildlife viewing, providing a steady stream of guests eager for vacation rentals. The annual Jackson Hole Fall Arts Festival and lively winter sports scene further enhance the town's appeal. For real estate investors, Jackson's robust housing market offers good return prospects, making it one of the best places for investment properties and boosting rental income potential.
Key STR Metrics:
- Average Gross Yield: 3.2%
- Average Property Value: $4,288,552 (as of December 2024)
- Average Annual Revenue: $138,639 (past 12 months)
- Average Occupancy Rate: 49% (past 12 months)
- Qualifying Airbnbs: 189 (as of January 2025)
- Year-Over-Year Growth in Airbnbs: 81%
Find Airbnbs For Sale in Jackson, WY →
6. Wilson, WY
Nestled at the base of the majestic Teton Range, Wilson, WY, is a prime location for real estate investors looking to enter the flourishing short-term rental market. Known for its proximity to Grand Teton National Park and Jackson Hole Mountain Resort, Wilson attracts tourists year-round with outdoor activities like skiing, hiking, and wildlife watching. Visitors can enjoy charming vacation homes offering good rental income potential. Special events such as the Jackson Hole Fall Arts Festival further boost tourism, making it one of the best places for owning a profitable Airbnb.
Key STR Metrics:
- Average Gross Yield: 1.0%
- Average Property Value: $7,700,287 (as of December 2024)
- Average Annual Revenue: $79,752 (past 12 months)
- Average Occupancy Rate: 52% (past 12 months)
- Qualifying Airbnbs: 130 (as of January 2025)
- Year-Over-Year Growth in Airbnbs: 70%
