Best places to buy rental properties in Wyoming

March 11, 2022
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Investing in Wyoming

Wyoming is ranked the second happiest and healthiest states in America after Hawaii by the Gallup Poll. If you're considering investing in Wyoming rental properties, be sure to check out this list and see what some of the best places to invest are. Wyoming is sure to impress the best adventurers as the state is home to both the Grand Teton National Park and the Yellowstone National Park.

Statewide vacancy rates

WY Rental Vacancy Rate via Federal Reserve Bank of St. Louis

Casper, WY

Casper is the second largest city in Wyoming and is nicknamed "The Oil City" for the large oil deposits in the area.

  • Population: 59,038
  • Median household income: $59,412
  • Median 1-bedroom monthly rent: $760
  • Median listing home price: $286,500

Cheyenne, WY

Cheyenne is famous for its cowboy culture as it's a city with an Old West feel.

  • Population: 65,132
  • Median household income: $68,611
  • Median 1-bedroom monthly rent: $850
  • Median listing home price: $379,500

Gillette, WY

Gillette is called the "Energy Capital" because it provides more than 1/3 of the total coal supply and is a huge producer of oil and methane.

  • Population: 33,403
  • Median household income: $73,867
  • Median 1-bedroom monthly rent: $795
  • Median listing home price: $272,000

Jackson, WY

Jackson Hole is in western Wyoming and perhaps the best basecamp for Yellowstone National Park. As one of the most visited parks in the world, Jackson may be a great place to buy properties for short term rentals.

  • Population: 11,825
  • Median household income: $88,655
  • Median 1-bedroom monthly rent: $1,350
  • Median listing home price: $2,900,000

Laramie, WY

Laramie is home to the University of Wyoming, the only university in the state.

  • Population: 31,407
  • Median household income: 
  • Median 1-bedroom monthly rent: 
  • Median listing home price: 

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To help us determine the five best cities in all states, the Nophin team used data from several sources including the 2020 United States Census, the Department of Housing & Urban Development, Federal Reserve Economic Data (FRED), the National Association of REALTORS®, Zumper, internal data, and other reputable sources.

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Please note: Nothing above should be construed as legal, investment, tax, nor financial advice. This content is for informational purposes only. Consult a lawyer and/or an accountant if the above is right for your personal situation.

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