Cody, Wyoming Short-Term Rental Market
Cody STRs averaged $389/night at 63.7% occupancy and $6,823 monthly revenue in August 2026.
Quick Answer: Cody, Wyoming is an active short-term rental market. average occupancy in the Bozeman/Yellowstone Natl Park market area is 64%. average monthly revenue in the Bozeman/Yellowstone Natl Park market area is $5,797. average daily rate in the Bozeman/Yellowstone Natl Park market area is $344. the top operator in the Bozeman/Yellowstone Natl Park market area is Stay Montana with 198 listings. market score is 70/100 (grade C).
Market data reflects the Bozeman/Yellowstone Natl Park regional market, which includes Cody. Regulations, taxes, and permit details below are specific to Cody.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Cody, Wyoming is a gateway town to Yellowstone National Park. It sits about 50 miles from the park’s East Entrance and has a population of 10,305. The area profile estimates 350,000 annual visitors, concentrated from May to September. In August 2026, short-term rentals in Cody averaged $389 per night at 63.7% occupancy. Average monthly revenue was $6,823. Compared with August 2025, occupancy was 2.5% lower, the average daily rate was 13.1% higher, and revenue was 0.9% higher. Rate growth, not demand, drove the revenue gain. The longer history shows the same shape. Annual average occupancy was 56.4% in 2025 and 64.4% in 2021, the peak year in the data. Annual average daily rate rose from $223 in 2017 to $396 in 2025. Entire-home listings averaged $399 per night in August 2026, slightly above the all-listings figure of $389. Performance numbers on this page come from a series that is specific to Cody. Bedroom mix, booking channel split, and listing-type mix are tracked at a shared regional level rather than uniquely for Cody, so this profile omits them. Typical home value in Cody is $482,010, and the median list price is $679,667 as of the June 2026 housing snapshot.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 48% |
| Feb | 63% |
| Mar | 60% |
| Apr | 35% |
| May | 57% |
| Jun | 73% |
| Jul | 73% |
| Aug | 65% |
| Sep | 60% |
| Oct | 45% |
| Nov | 39% |
| Dec | 52% |
Month-by-month nightly rates and revenue figures for Cody are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Top Short-Term Rental Operators in Bozeman/Yellowstone Natl Park market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Bozeman/Yellowstone Natl Park market as a whole, which includes Cody, so these counts are not Cody-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Stay Montana | 198 | 7,922 | ★ 4.75 |
| 2 | Big Sky Vacation Rentals | 132 | 3,304 | ★ 4.87 |
| 3 | Evolve | 128 | 9,092 | ★ 4.85 |
| 4 | Two Pines Properties | 123 | 2,649 | ★ 4.87 |
| 5 | Mountain Home | 115 | 5,096 | ★ 4.84 |
What Kind of STR Should I Buy in Cody?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Cody are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 29.9% |
| vrbo | 11.5% |
| both | 58.6% |
Home Value Trends (Cody)
Typical home values, median sale prices, and the 10-year price trend for Cody are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Insights
Booking-window and length-of-stay analysis for Cody — how far ahead guests book and how to price around it — is available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Short-Term Rental Regulations
Short-term rentals are legal in Cody, and the City regulates them under an ordinance that dates to 2007. A short-term rental is a rental of living space for less than 30 consecutive days. Operators must register with the City and hold a Short-Term Rental Registration Certificate before operating. The application fee is $100, up from an earlier $50. The certificate renews annually by May 1. A fire and life-safety inspection is required before the certificate is issued. The registration number must appear in every online listing. Zoning is the main constraint. In the R-2 and R-2MH residential districts, the owner must live on the property or on an immediately adjacent property during the rental. Whole-home rentals without an owner on site are not permitted in those districts. In residential and commercial (D-1) zones, only single-group bookings are allowed, so renting individual bedrooms to separate parties is prohibited. The rules set no cap on nights per year. Park County charges a 7% lodging tax (5% statewide plus 2% local) as of January 1, 2025, and operators also owe Wyoming sales tax. Voters renewed the 2% local portion in November 2024. Enforcement is rated moderate. Confirm zoning with the City before you buy.
Market Comparison
Cody beats the US benchmarks used in this report, which are roughly 55% occupancy and a $220 average daily rate. August 2026 occupancy of 63.7% is about 8.7 points above 55%. The $389 average daily rate is about 77% above $220. The 2025 annual average tells a more measured story. Occupancy was 56.4%, close to the benchmark, while the average daily rate was $396. So the premium is mainly price, not volume. Cody is small, with 10,305 residents, and demand depends on one source, Yellowstone and Western-heritage visitors. The Buffalo Bill Center of the West and the nightly Cody Nite Rodeo are the main local draws. Top property manager data is tracked at a shared regional level rather than uniquely for Cody, so this profile omits it. Local operator concentration is therefore not stated here.
Frequently Asked Questions About Cody, Wyoming
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