How to Start an Airbnb Business in Wyoming

Why Wyoming Is a Top Market for Short-Term Rentals

Wyoming has the most extreme visitor-to-resident ratio of any state in the continental U.S. With a population of just 577,000 and annual tourism visitation exceeding 8.9 million, the state receives more than 15 visitors for every permanent resident. That imbalance creates a structural accommodation shortage that short-term rentals fill.

Yellowstone National Park is the anchor. The world’s first national park drew 4.5 million visitors in 2024, and demand continues to grow. Grand Teton National Park added another 3.5 million. Together, these two parks generate a tourism ecosystem that radiates outward to gateway communities — Jackson, Cody, West Yellowstone (Montana side), and Dubois — where hotel inventory falls dramatically short of demand during peak season.

Jackson Hole operates as one of the highest-ADR short-term rental markets in the entire United States. Nightly rates for premium properties routinely exceed $500, and luxury homes during peak ski season or summer park season can command $1,000–$3,000 per night. These aren’t theoretical numbers — they reflect actual booking data. The combination of world-class skiing at Jackson Hole Mountain Resort, proximity to two national parks, and a limited housing supply creates pricing power that few domestic markets can match.

But Wyoming isn’t just Jackson. Cody (the eastern Yellowstone gateway) offers more accessible entry prices with strong summer tourism. The Wind River Range attracts backcountry enthusiasts. Devils Tower draws climbers and road-trippers. Cheyenne’s Frontier Days — the world’s largest outdoor rodeo — creates a 10-day booking frenzy every July. Thermopolis, Sheridan, and Lander each have emerging STR markets with lower competition.

Wyoming also delivers a tax advantage that directly impacts profitability. The state has no personal income tax and no corporate income tax. STR revenue earned in Wyoming is taxed only at the local level (lodging tax) plus whatever you owe your home state. For operators who establish Wyoming residency, the tax savings are substantial and immediate.

Wyoming Short-Term Rental Laws and Regulations

Wyoming’s regulatory environment reflects its libertarian-leaning political culture. State-level regulation is minimal, and most municipalities have kept rules straightforward. That said, Jackson and Teton County represent a notable exception to the otherwise permissive landscape.

State-Level Requirements

Wyoming has no state-level STR license, permit, or registration requirement. The state requires you to collect and remit lodging tax on short-term rental bookings (stays under 30 days), and you need a general business license, but there’s no STR-specific state regulation to navigate.

Properties must comply with basic building and fire safety codes. Smoke detectors and carbon monoxide detectors are required in all rental accommodations. Beyond that, the state leaves regulation to local governments.

To operate legally, register with the Wyoming Secretary of State (LLC formation costs $100 online) and obtain a sales tax license from the Wyoming Department of Revenue for lodging tax collection. That’s the extent of the state-level compliance burden — Wyoming keeps it simple.

Rental arbitrage in Wyoming faces practical limitations. The strongest STR markets (Jackson, Cody) have limited rental housing inventory, and landlords in those areas are well aware of STR revenue potential. Arbitrage is more feasible in Cheyenne and Casper, but those markets generate lower STR revenue. The dominant model in Wyoming is property ownership or co-hosting partnerships with existing property owners.

Key City and County Regulations

Jackson / Teton County: Teton County is Wyoming’s most restrictive STR jurisdiction and one of the more complex regulatory environments in the Mountain West. The town of Jackson and Teton County jointly regulate STRs through the Land Development Regulations (LDRs). Vacation rentals in most residential zones require a conditional use permit, and the county has imposed caps on the total number of STR permits in certain areas. The permitting process involves a public hearing, neighbor notification, and compliance review.

Teton County distinguishes between “Type 1” STRs (owner-occupied, renting individual rooms) and “Type 2” STRs (entire-property rentals). Type 2 permits are harder to obtain and face stricter limitations. The town of Jackson has been especially aggressive in enforcement, using software to identify unpermitted listings and issuing fines. Despite the regulation, Jackson remains hugely profitable for permitted operators because the supply constraints protect pricing power.

Cody: Cody takes a tourism-supportive approach. The city requires a business license and compliance with zoning, but hasn’t imposed STR-specific permit requirements or caps. Properties in residential zones can operate as STRs provided they meet basic safety standards and don’t generate excessive noise or traffic complaints. Park County (surrounding Cody) follows a similarly permissive framework. This makes Cody one of the most straightforward Wyoming markets to enter.

Cheyenne: Cheyenne requires a business license for STR operations. The city’s zoning code permits STRs in most residential and commercial zones. There are no STR-specific caps or conditional use requirements. The primary regulatory consideration in Cheyenne is compliance with the local lodging tax and maintaining good standing with the business license office.

Sheridan: Sheridan has seen growing STR activity driven by the Bighorn Mountains tourism corridor. The city requires a business license and enforces standard zoning compliance. No STR-specific ordinances have been adopted as of early 2026. The small-town political environment means that any future regulation will likely be discussed in public forums before enactment, giving operators advance notice.

Recent Regulatory Changes (2025–2026)

Teton County’s Board of County Commissioners adopted amendments to the LDRs in 2025 that further tightened STR regulations. The amendments reduced the maximum number of nights per year that Type 2 STRs can operate in certain residential zones and increased the minimum spacing requirement between permitted STR properties. Existing permitted operators were grandfathered, but new permits became harder to obtain.

The Jackson Town Council simultaneously increased enforcement funding, hiring additional compliance staff and contracting with a monitoring service that scans booking platforms for unpermitted listings. Fines for operating without a permit were increased to $750 per violation per day.

Outside of Teton County, Wyoming’s 2025 legislative session did not produce any significant STR-related legislation. The Wyoming legislature has historically resisted statewide STR regulation, and that stance appears unchanged heading into 2026. Cody, Cheyenne, and other municipalities have not adopted new STR restrictions.

Tax Obligations for Wyoming Airbnb Hosts

Wyoming’s tax structure is among the most favorable for STR operators in the country. The absence of a state income tax is the headline, but the full picture matters.

State Sales Tax: Wyoming levies a 4% state sales tax that applies to short-term lodging. This is collected on the total booking amount including cleaning fees and other charges.

County Lodging Tax: Counties impose an additional lodging tax on accommodations rented for fewer than 30 days. Rates vary: Teton County charges 6% (one of the highest in the state), Park County (Cody) charges 4%, Laramie County (Cheyenne) charges 4%, and Natrona County (Casper) charges 4%. These are levied on top of the state sales tax.

Local Option Taxes: Some municipalities add a local-option sales tax of 1%–2%. Jackson adds a 2% local sales tax. When combined with state sales tax and county lodging tax, Jackson-area STR operators face a combined rate of approximately 12% on gross rental income.

No State Income Tax: Wyoming does not tax personal or corporate income. This means your STR net profit is not taxed at the state level — a significant advantage over neighboring states like Colorado (4.4%), Montana (6.75% top rate), and Idaho (5.8%). For operators with substantial STR income, Wyoming’s income tax savings alone can represent tens of thousands of dollars annually.

Airbnb and Vrbo collect and remit the state sales tax and some local taxes in Wyoming, but coverage varies by county. Verify with the Wyoming Department of Revenue whether your specific county’s lodging tax is covered by platform collection agreements. If not, register directly and file returns quarterly.

Wyoming’s low overall tax burden is one reason investors from high-tax states (California, New York, New Jersey) increasingly target Wyoming STR properties. Establishing Wyoming residency and operating STRs within the state creates a tax-efficient structure that amplifies returns.

Best Cities for Airbnb in Wyoming

Jackson / Jackson Hole

Jackson Hole is in a class by itself. The combination of Jackson Hole Mountain Resort (one of North America’s most acclaimed ski areas), Grand Teton National Park (8 miles from town), and Yellowstone’s south entrance (57 miles) creates demand density that few locations in the world can match.

Average daily rates in the Jackson area range from $300 to $650, with luxury properties during peak periods (Christmas week, Presidents’ Day, July 4th, August) commanding $1,000–$3,000/night. Annual occupancy averages 71% — among the highest in any U.S. mountain resort market — because both winter (ski) and summer (national parks) are peak seasons. The shoulder seasons (April–May, October–November) are the only soft periods.

The obvious challenge is entry cost. Jackson Hole has some of the most expensive real estate in the western U.S. Single-family homes start at $1.5M and go stratospheric from there. Condos in the Teton Village area (near the ski resort) start around $500K–$800K. Despite these prices, the revenue potential often justifies the investment — a well-managed condo generating $120,000–$180,000 annually makes the math work even at Jackson’s price points.

Teton County’s regulatory restrictions mean that non-ownership models are extremely limited here. Co-hosting with existing permitted property owners is possible, but arbitrage is effectively off the table due to the permit requirements and housing scarcity.

Cody

Cody bills itself as the eastern gateway to Yellowstone, and it delivers on that positioning. The town sits 52 miles from Yellowstone’s east entrance along one of the most scenic drives in America (the Buffalo Bill Scenic Byway). The Buffalo Bill Center of the West, Old Trail Town, and the Cody Nite Rodeo (running every night June–August) provide in-town attractions that keep visitors from treating Cody as a mere pass-through.

ADRs in Cody range from $110 to $220, with summer (June–August) commanding the top rates. Occupancy averages 52% annually, heavily concentrated in the May–September Yellowstone season. The off-season (November–March) is quiet, with occupancy dropping below 25% for many properties.

Where Cody shines is affordability. Homes in and around Cody start at $250K–$400K, a fraction of Jackson’s prices. A $300K house generating $35,000–$50,000 in annual STR revenue offers a solid return, particularly given Wyoming’s favorable tax environment. The permissive regulatory stance makes Cody an attractive entry point for operators who want Wyoming exposure without Jackson-level capital requirements.

Pinedale / West Side Gateway

Pinedale sits on the western approach to the Wind River Range and serves as an alternative gateway for visitors heading to Grand Teton and Yellowstone from the south. The town has a growing reputation among backpackers, anglers, and hunters. ADRs average $100–$170, with occupancy around 47% annually and a strong June–September season.

Property costs are lower than Cody — homes start around $200K–$300K. The trade-off is lower overall demand and a shorter peak season. Pinedale works best as a secondary property in a Wyoming portfolio or for operators who can manage a seasonal business model. The emerging popularity of the Bridger-Teton National Forest and the Continental Divide Trail is gradually extending the season and building demand.

Cheyenne

Cheyenne is Wyoming’s largest city (population ~65,000) and its capital. The STR market here is fundamentally different from the resort towns. Demand is driven by state government activity, Warren Air Force Base, the Union Pacific Railroad operations, and Cheyenne Frontier Days (10 days in late July that transform the city’s accommodation market).

ADRs in Cheyenne average $95–$160. Annual occupancy sits around 50%, boosted by Frontier Days (when every available bed is booked and rates spike 3–4x). The rest of the year, demand is steady but modest. Property costs are the lowest among Wyoming’s STR markets — homes start at $200K–$280K, and apartments suitable for arbitrage are available at $800–$1,200/month.

Cheyenne’s appeal is in the low risk, not the high return. It’s a market where you can start with minimal capital, learn the STR business, and build a track record before scaling into Wyoming’s premium markets.

How Much Do Airbnbs Make in Wyoming?

Wyoming’s revenue picture reflects two distinct tiers: Jackson/Teton County at the very top of the national STR market, and everywhere else offering solid returns at much lower entry points.

Jackson’s numbers are extraordinary by any standard. A well-managed luxury property in Teton Village can gross $200,000–$350,000 annually. Even modest condos near the Town Square in Jackson gross $80,000–$120,000. The revenue ceiling in Jackson is limited primarily by property supply and permit availability, not by demand.

Outside Jackson, Wyoming’s STR revenue is more moderate but the returns as a percentage of investment are competitive. A $300K home in Cody grossing $35,000–$50,000 generates a gross yield of 12–17%. Combined with Wyoming’s zero income tax, the after-tax return profile is stronger than it appears from raw revenue numbers alone.

The outlier opportunity in Wyoming is the luxury glamping and unique stays category. Converted ranch properties, luxury tents with Teton views, and off-grid cabins near national parks have produced some of the highest ADRs in the state outside of Jackson. A $150K investment in a glamping setup on rural Wyoming land can generate $40,000–$60,000 annually — extraordinary returns on invested capital.

How to Start Your Wyoming Airbnb Business

Wyoming’s minimal bureaucracy means the startup process is faster than most states. But the market-specific challenges — particularly around Jackson — require careful planning.

Step 1: Decide which Wyoming market fits your strategy. Jackson for maximum revenue and premium positioning (high capital required). Cody for Yellowstone-adjacent tourism at accessible price points. Cheyenne for low-risk entry and year-round demand. Pinedale or Lander for emerging markets with less competition. Your budget, management capacity, and risk tolerance determine the right fit.

Step 2: Understand the permitting landscape. If targeting Teton County, consult the county planning department before making any property commitment. Verify that the specific property can obtain an STR permit under current LDRs. If targeting Cody or Cheyenne, a standard business license is the primary requirement — a much simpler process.

Step 3: Form your business entity. Wyoming LLC formation is fast and affordable ($100 filing fee online, no annual report fee for the first year). The state’s privacy protections for LLCs are among the strongest in the nation, which appeals to investors who prefer to keep ownership structures private. Register for a sales tax license with the Wyoming Department of Revenue.

Step 4: Acquire your property strategically. In Jackson, work with agents who specialize in STR-eligible properties — not every Teton County property can be permitted. In Cody, look for properties with Yellowstone-facing views or within 10 minutes of the town center. In Cheyenne, proximity to downtown and Frontier Park (Frontier Days venue) maximizes booking potential. Run the numbers using AirDNA data specific to your target zip code.

Step 5: Design the guest experience around Wyoming. Wyoming guests are coming for the outdoors. Gear storage (ski equipment, hiking boots, fishing rods) is essential. A covered porch with mountain views adds significant booking appeal. Binoculars, wildlife field guides, and trail maps are inexpensive touches that guests mention in reviews. For winter properties, heated garages, boot warmers, and a hot tub overlooking the snow are premium amenities that justify premium rates.

Step 6: Build a reliable local team. Wyoming’s low population density means that contractors, cleaners, and property managers are in shorter supply than in more populated states. Start building relationships early. In Jackson, experienced STR cleaning teams charge premium rates ($150–$300 per turnover for larger properties) and book up months in advance during peak season. In smaller markets like Cody and Pinedale, you may need to recruit and train your own cleaning team.

Step 7: Price for two seasons. Most Wyoming markets operate on a two-season model: a peak season with strong demand and an off-season with minimal activity. Jackson is the exception with both winter (ski) and summer (park) peaks. For Cody, price peak-season bookings (June–September) at full market rate and consider closing or offering deep discounts during winter. Dynamic pricing is essential — manual pricing leaves money on the table during peaks and fails to attract bookings during valleys.

Step 8: Leverage Wyoming’s brand. Wyoming carries a brand that resonates with travelers: wild, unspoiled, authentic. Your listing should tap into that identity. Highlight the specific wildlife guests might see (moose, elk, bison, bears), the specific trails accessible from your property, and the specific distance to park entrances. “23 miles to Yellowstone’s East Entrance via the Buffalo Bill Scenic Byway” converts better than “near Yellowstone.”

Wyoming STR Insurance and Liability

Wyoming’s STR insurance needs are shaped by the state’s outdoor environment and the activities guests pursue during their stays.

STR-Specific Coverage: Proper Insurance and Safely both write policies in Wyoming. Premiums range from $1,500 to $5,000+ annually, with Jackson-area properties at the top end due to high property values. Policies should cover property damage, guest liability, loss of rental income, and personal property. The minimum recommended liability limit is $1M, with $2M preferred for high-value properties.

Wildlife and Environmental Risks: Wyoming properties face unique risks including wildlife encounters (bears accessing properties, moose on walkways), severe winter storms, and wildfire. Standard STR policies cover most storm damage, but wildfire coverage may require a separate endorsement or higher premiums in fire-prone areas. Ensure your policy addresses these Wyoming-specific scenarios.

Recreational Liability: Wyoming guests are active — skiing, snowboarding, hiking, fishing, horseback riding. While these activities typically don’t occur on your property, injuries during a trip can lead to claims if guests allege the property’s condition contributed (e.g., icy stairs led to a fall that worsened a ski injury). A personal umbrella policy ($1M–$2M at $200–$400/year) provides essential excess liability protection.

Hot Tub and Pool Coverage: Hot tubs are nearly mandatory in Wyoming’s premium markets, but they carry significant liability. Ensure your policy explicitly covers hot tub incidents, and maintain documentation of your cleaning and maintenance schedule. Some insurers require fencing or locking covers.

Airbnb’s AirCover program provides a baseline of protection but should be treated as supplemental, not primary. Wyoming’s high-value properties and active-lifestyle guests create risk profiles that benefit from comprehensive dedicated coverage.

Why 10XBNB Gives You the Edge in Wyoming

Wyoming’s STR market sits at two extremes. Jackson Hole is one of the most competitive and highest-stakes STR markets in North America — the properties are expensive, the regulations are complex, and the difference between excellent and mediocre management is measured in tens of thousands of dollars annually. The rest of Wyoming offers accessible entry points but demands smart market selection and operational efficiency to generate meaningful returns.

10XBNB equips operators for both scenarios. The program’s market analysis framework has helped students evaluate whether Jackson’s premium justified the capital investment for their specific financial situation. It’s also helped operators identify under-the-radar Wyoming markets where competition hasn’t arrived yet but the demand fundamentals are solid.

For Wyoming specifically, 10XBNB addresses the challenges of managing remote properties in low-population-density areas, building reliable operations teams in small towns, navigating Teton County’s complex permitting process, and pricing properties across extreme seasonal swings. The data-driven approach to market selection is especially valuable in a state where the difference between a great location and a mediocre one can be as little as a 30-minute drive.

Wyoming rewards operators who combine local knowledge with professional systems. 10XBNB provides the systems. Your job is to apply them to Wyoming’s unique landscape.

Frequently Asked Questions

Do I need a permit to run an Airbnb in Wyoming?
At the state level, no STR-specific permit is required — just a business registration and sales tax license. However, Teton County (Jackson Hole) requires a conditional use permit for short-term rentals, and permits are limited. Cody, Cheyenne, and most other Wyoming municipalities require only a standard business license. Always verify local requirements before investing.

How much tax do Wyoming Airbnb hosts pay?
Wyoming charges a 4% state sales tax on STR income. Counties add a lodging tax of 4%–6% (Teton County charges 6%). Some municipalities add 1–2% in local-option taxes. Combined rates range from 8% to 12% depending on location. Wyoming has no state income tax, which significantly reduces the overall tax burden compared to neighboring states.

Is Jackson Hole worth the investment for Airbnb?
For operators with sufficient capital, Jackson Hole offers some of the highest STR revenue in the U.S. Condos can gross $120,000–$180,000+ annually, and luxury properties significantly more. The key is securing a property with an existing STR permit or one in a zone where new permits are available. The high entry cost ($500K+ for condos) means this market isn’t suitable for everyone, but the returns for well-managed properties are exceptional.

What’s the best alternative to Jackson for Wyoming Airbnb?
Cody is the strongest alternative. It offers Yellowstone gateway positioning, summer ADRs of $150–$220, and property costs that are 50–70% lower than Jackson. The regulatory environment is straightforward, and the town’s tourism infrastructure is well-established. The trade-off is a shorter peak season (May–September) and a quiet winter.

Can I run an Airbnb seasonally in Wyoming?
Yes, and many Wyoming STR operators do exactly that. Outside of Jackson (which has dual-season demand), most Wyoming markets have a concentrated peak season. Cody and Pinedale operators often close properties or switch to long-term rentals from November through April. Cheyenne operators maintain year-round operations at lower occupancy. Running seasonally reduces expenses and can actually improve your annual return if off-season revenue wouldn’t cover operating costs.

What unique amenities do Wyoming Airbnb guests expect?
Wyoming guests prioritize outdoor-oriented amenities. Hot tubs with mountain or valley views are nearly expected in premium markets. Gear storage for skis, hiking boots, and fishing equipment is essential. Binoculars, trail maps, and wildlife guides are low-cost touches that generate positive reviews. Heated garages for winter arrivals, fire pits for summer evenings, and fast Wi-Fi (critical for remote workers extending trips) round out the high-impact amenity list. In Jackson, luxury finishes and designer furnishing are expected at higher price points.