The top rental markets in Wyoming are Casper and Laramie.
The TurboTenant Report includes analysis of the average number of leads per property, the average number of days on market, average rent price, median sale price, median income, security deposit trends and livability score.
Wyoming Rental Trends:
Wyoming is the tenth largest state and the least populous. Its economy thrives off of mineral extraction from coal, oil, and natural gas – its beautiful scenery attracts residents from all over which is good news for property investors. Here are some highlights from the top rental markets in the Cowboy State.
Days on Market:
The city with the lowest days on market is Casper at 16 – one above the national average which sits at 15 days; Laramie has the highest number of days on market at 34.
Casper is the top town for the largest amount of leads per listing, above the national average which is sitting at 38.
- Casper – 188 leads per listing
Average Rent: (2 bedroom listings)
With the national average rent at $1,207 for a two-bedroom, Laramie comes below that with the lowest average rent of $846 for a two-bedroom compared to the highest rent in Wyoming at $861 in Casper.
Median Home Sale Price:
According to data from Redfin, which is a national real estate brokerage company, the national median home sale price sits at $306,000. Wyoming’s highest median sale price comes below that at $252,000 in Laramie with its lowest median sale price at $209,000 in Casper.
Wyoming’s median income rings in at $47,650 – below the national average at $48,500.
Security Deposit Trends:
Security deposits have decreased in Wyoming’s cities between 2018 and 2019. With the largest being a decrease of -30% in Laramie at $700, and the smallest decrease in Casper at -5.71% with the current average at around $660 – below the national average for security deposits which is $1,200.
All of Wyoming’s cities have a livability score of 71 or higher with the highest being Casper at 72!
Please visit here for our full methodology.
Whether you’ve found the best investment property in these top rental markets, or somewhere else, TurboTenant can help streamline your rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.