The market is Jackson Hole first: gateway to two national parks, some of the highest residential values in America, and a short-term rental supply tightly constrained by zoning. Cody, Sheridan, and the I-80 corridor carry modest volume, and Cheyenne runs on Frontier Days each July.
High values in the fire interfaceJackson’s defining exposure is concentration: multi-million-dollar log and timber homes in the wildland-urban interface, where a single wildfire loss is enormous and carriers underwrite mitigation house by house. Deep freeze in seasonally empty homes, heavy snow load, and wind across the basins complete the picture. Premiums in Teton County can run multiples of the state norm.
Wyoming claims most often fail on freeze in unmonitored high-value homes, where the water damage alone can reach seven figures, and on wildfire non-renewal where mitigation was never documented. Confirm monitored heat and water shutoff as policy conditions, your defensible-space documentation, and whether your dwelling limit has kept pace with Teton County construction costs.
Wyoming has no statewide STR license or registration; the counties and towns decide. Jackson and Teton County confine short-term rentals to specific zones, require a local responsible agent, and enforce actively, which makes zoned properties scarce and expensive. Cheyenne requires a lodging facility license, and some towns require proof of liability insurance with the permit. State lodging tax of 5 percent plus local levies applies. In Jackson, confirm the zoning before anything else, because it decides whether the property can operate at all.