Casper, WY Rental Market
Casper is Wyoming's second-largest city and the energy capital of the state, historically driven by oil, gas, and coal extraction from the Powder River Basin and the Niobrara shale formation. The rental market here is more cyclical than Cheyenne, rising and falling with energy commodity prices, though Casper's position as Natrona County's commercial and healthcare center — anchored by Wyoming Medical Center — provides some stability through non-energy employment. Very low home prices offer above-average yield for investors comfortable with commodity-cycle exposure.
Get a rent estimate for an address in CasperAverage Rent in Casper, WY
$980
per month · 2026-06
Market Score
Key Facts — Casper, WY Rental Market
- Average rent in Casper, WY:$980/mo
- Median rent:$902/mo
- Rent range:$500 – $2,150/mo
- Most common rental (2 bedrooms):$875/mo
- Active listings:280
- Avg days to lease:38 days
- Year-over-year change:+2.5%
- Median home value:$225,000
- Est. gross annual yield:5.2%
- Data as of:2026-06
Rent by Bedroom in Casper, WY
Average monthly rent for each bedroom type based on current active listings in Casper.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $700/mo |
2 Bedrooms | $875/mo |
3 Bedrooms | $1,100/mo |
4 Bedrooms | $1,350/mo |
5 Bedrooms | $1,550/mo |
Casper Rental Market Statistics
Key indicators from the current Casper, WY rental market.
280
Available now in Casper
38
From list to lease
$0.78
Average across listings
1,250 sq ft
Typical rental size
$500 – $2,150
Min to max active listings
+2.5%
Avg rent vs. prior year
Investing in Casper, WY Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$225,000
Typical purchase price in Casper
Est. Gross Annual Yield
5.2%
Before expenses & vacancy
Avg Monthly Income
$980
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Casper for a full cash-flow breakdown including all costs.
Casper, WY Rental Market FAQ
Common questions about renting and investing in Casper, WY.
What is the average rent in Casper, WY?
The average rent in Casper, WY is $980 per month as of 2026 — the most affordable in our Wyoming coverage. One-bedroom apartments average $700/mo, two-bedrooms average $875/mo, and three-bedroom homes average $1,100/mo. The east side neighborhoods near Wyoming Medical Center and Casper College see the most consistent demand, while the oil patch neighborhoods on the west side experience more cyclical fluctuation tied to energy sector activity.
Is Casper, WY a good place to invest in rental property?
Casper offers a 5.2% estimated gross yield on a $225,000 median home value — the highest in our Wyoming coverage. The very low acquisition cost provides a strong entry point for cash-flow investors, and Wyoming Medical Center, Casper College, and regional retail employment provide base demand independent of energy cycles. Investors should underwrite conservatively to account for oil and gas sector volatility, which historically creates rental vacancy spikes during downturns.
How competitive is the Casper, WY rental market?
Casper has approximately 280 active listings and averages 38 days on market — the slowest pace in our Wyoming coverage, reflecting its smaller size and quieter growth environment. Demand is most consistent from Wyoming Medical Center employees, Casper College students and staff, and state/county government workers. Energy sector rental demand can surge dramatically during oil price upswings, but investors should not underwrite for boom-cycle rents as a baseline.
Ready to Analyze a Property in Casper?
Get an instant rent estimate, cash-flow projection, and comparable rentals for any address in Casper, WY.
Analyze Now — It's Free