Casper, Wyoming Short-Term Rental Market
Casper, WY STRs averaged $122/night at 53.0% occupancy in April 2026 across 3,519 tracked listings.
Quick Answer: Casper, Wyoming is an active short-term rental market. average occupancy is 53%. average monthly revenue is $1,678. average daily rate is $122. the top operator is Evolve with 125 listings. market score is 59/100 (grade C).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Casper’s short-term rental market spans 3,519 tracked listings as of the latest snapshot, making it one of the larger STR markets in Wyoming. The overwhelming majority (3,260 listings, or 93%) are entire-place rentals, with 258 private rooms and just one shared-room unit rounding out the mix. The market skews heavily toward smaller units: 1-bedroom listings lead at 1,221, followed by 2-bedroom (1,077), 3-bedroom (728), 4-bedroom (313), and 5-bedroom-plus (178).
In April 2026, the market posted a 52.95% average occupancy rate and a $122.26 average daily rate, generating average revenue of $1,678 per active listing. Year-over-year, occupancy slipped 5.16 percentage points and revenue fell 3.74%, though ADR edged up 2.35%. The 2025 annual average sat at 57.65% occupancy and $145 ADR, producing $2,277 per month in average revenue. Airbnb dominates distribution: 2,064 listings are Airbnb-only, 1,191 are active on both Airbnb and VRBO, and 264 are VRBO-only. The market’s overall score from the Apivex index is 59.5 out of 100, with rental demand (80.7) as the standout subcategory.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 45% | $126 | $1,567 |
| Feb | 53% | $126 | $1,594 |
| Mar | 52% | $117 | $1,598 |
| Apr | 52% | $107 | $1,472 |
| May | 59% | $119 | $1,649 |
| Jun | 66% | $157 | $2,555 |
| Jul | 68% | $178 | $3,089 |
| Aug | 60% | $172 | $2,732 |
| Sep | 56% | $152 | $2,337 |
| Oct | 53% | $124 | $1,892 |
| Nov | 49% | $113 | $1,515 |
| Dec | 49% | $119 | $1,520 |
Top Short-Term Rental Operators in Casper
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 125 | 4,967 | ★ 4.81 |
| 2 | Wagon Box Inn Restaurant Cabins | 32 | 220 | ★ 4.73 |
| 3 | Cara Rohde | 27 | 7,014 | ★ 4.70 |
| 4 | Leavetown | 20 | 8 | ★ 4.20 |
| 5 | Cindy Hill | 20 | 125 | ★ 4.92 |
What Kind of STR Should I Buy in Casper?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 1,221 |
| 2 bed | 1,077 |
| 3 bed | 728 |
| 4 bed | 313 |
| 5 bed | 178 |
ADR by Property Tier
| Entire Home | $126 |
| Luxury | $251 |
| Professionally Managed | $137 |
Revenue by Dwelling Type
| Apartment | $1,442 |
| Entire Place | $1,734 |
| House | $1,821 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 58.7% |
| vrbo | 7.5% |
| both | 33.8% |
Investment Analysis
Casper’s investment case rests on relatively low entry barriers given Wyoming’s absence of state income tax and a light regulatory environment (see regulatory section). No Zillow housing data was available at time of generation, so a specific entry price or gross yield calculation cannot be cited here. Investors should verify current home prices independently.
On the revenue side, entire-place listings outpace the overall average, generating $1,734 per month versus $1,678 across all listing types. Houses average $1,821 per month, the highest sub-segment tracked. The professionally managed tier reaches an ADR of $136.57 versus the market-wide $122.26, a 12% premium that suggests operational quality drives measurable rate lift. The luxury tier ($251.29 ADR) is a distinct niche suited to high-amenity properties.
The 2025 annual average revenue of $2,277 per month implies approximately $27,324 in annualized gross revenue for an average listing. The market’s investability score is 65.8 out of 100. The 5.2 percentage-point occupancy decline year-over-year is worth monitoring; it reflects softening demand relative to supply growth and should be weighted in underwriting assumptions.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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In April 2026, Casper STR guests booked an average of 30.2 days in advance. This relatively short lead time reflects either a strong drive-to-destination traveler base booking weekend trips on short notice, or the influence of Casper’s outdoor recreation visitors who plan trips around weather and river conditions. Operators who set dynamic pricing windows well in advance risk leaving money on the table during July and August when demand tightens; a rolling 45-60 day dynamic window is likely more effective than a 90-day static rate.
Average length of stay is 4.8 nights, longer than a standard weekend trip but shorter than a full week. This suggests a mix of extended-weekend visitors (anglers, rodeo attendees, trail tourists) and short work-relocation stays. A 4.8-night average also means roughly 6 turnovers per month at peak occupancy, which operators should factor into cleaning cost and maintenance scheduling.
Short-Term Rental Regulations
Short-term rentals are legal in Casper. As of mid-2026, based on city licensing records and local news coverage, no STR-specific permit or registration is required at the city level. The City of Casper’s official licenses and permits page lists business, health, liquor, and building permits but no STR-specific license. A general municipal business license may apply.
On taxes, STR stays are subject to a 7% total lodging tax: a 5% statewide Wyoming lodging tax plus a 2% Natrona County local lodging tax (approved by voters in November 2022). Wyoming sales tax (approximately 5% in Natrona County: 4% state plus 1% county) applies separately. There is no documented cap on nights per year, no owner-occupancy requirement, and no primary-residence requirement. Enforcement severity is rated minimal.
Note: Some online sources claim Casper adopted a mandatory STR license effective January 1, 2026, including a $350 per-property fee and $1 million insurance requirement. This could not be corroborated by any primary government source, city ordinance, or verified local news report as of mid-2026. Operators should confirm current requirements directly with the City of Casper Planning Department (307-235-8241) before relying on any third-party summary.
Market Comparison
At 52.95% occupancy in April 2026, Casper sits below the US STR median of approximately 55% for that period. The $122.26 ADR is well below the national median of approximately $220, reflecting Casper’s positioning as an affordable regional destination rather than a premium leisure market. RevPAR of $64.74 is in the lower range for mid-size Western markets.
The professionally managed tier’s $136.57 ADR represents a 12% premium over the market average, consistent with what professional management achieves in smaller markets where baseline pricing discipline varies widely.
Evolve leads the Casper market with 125 listings and 4,967 reviews at a 4.806 average rating, holding roughly 3.6% of total tracked listings. Wagon Box Inn Restaurant and Cabins operates 32 listings (4.730 rating, 220 reviews), and Cara Rohde manages 27 listings with the deepest review base at 7,014 reviews and a 4.695 rating. Together, the top three operators control approximately 184 listings, or 5.2% of the total market.
Frequently Asked Questions About Casper, Wyoming
What is the average occupancy rate for Airbnb rentals in Casper, WY?
How much revenue can a short-term rental generate in Casper, WY?
Do I need a permit to run an Airbnb in Casper, WY?
What taxes apply to short-term rentals in Casper, WY?
Which months are best for Airbnb revenue in Casper, WY?
How does the Casper STR market compare to national averages?
Who are the largest short-term rental operators in Casper, WY?
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