Mountain West5.4% avg cap rate

Jackson Hole, WY

Wyoming ski and wildlife market — no state income tax

Jackson Hole combines world-class skiing at Jackson Hole Mountain Resort with Grand Teton and Yellowstone proximity to create one of the most compelling four-season STR markets in the country. Wyoming has no state income tax, making after-tax STR returns unusually attractive. Teton County enforces a strict STR permit process with a cap on licenses — supply is tightly controlled.

5.4%
Avg Cap Rate
Net operating income / price
62%
Avg Occupancy
Annual average
$895
Avg Nightly Rate
All property types
$2.1M
Median Price
STR-viable properties

Estimated Annual Performance

Gross rental revenue
62% occ × $895/night
$202,539
Est. operating expenses
Mgmt, cleaning, supplies, insurance (~40%)
– $81,016
Est. net operating income
Before mortgage & depreciation
$121,523
At median price
Implied cap rate
5.8%

* Estimates based on market averages. Individual property performance varies. Always run a full underwriting analysis.

Why Investors Choose Jackson Hole

No Wyoming state income tax on rental income
Grand Teton and Yellowstone drive massive summer demand
Jackson Hole Mountain Resort — top-rated US ski resort
Teton County permit required — license cap limits supply
Peak season: Dec – Mar (ski), June – Sept (national parks)
Top property types: Cabin, Single Family, Condo, Luxury Lodge
Primary zip: 83001, 83002, 83025

Market averages, not guarantees. Cap rates, occupancy, and nightly rates are market-wide averages based on active STR listings and historical data. Individual property performance depends on location, amenities, management, and listing quality. Always run a full underwriting analysis before purchasing.

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