How Much Can Your Wyoming Property Earn?
Seasonal ADR trends, occupancy rates, pricing strategy, and real numbers for Wyoming property owners.
Dalton Goodyear · Oct 22, 2025 · 6 min read
Sheridan County is not Teton County. That's its advantage. While Jackson Hole competes on prices that require a $1.2M median home purchase to generate a meaningful return, Sheridan's vacation rental market is still early enough that well-managed properties can hit strong occupancy rates without competing against institutional inventory.
Only 5.2% of Sheridan's short-term rentals are professionally managed. The gap in performance between that 5.2% and everyone else is not a small rounding error.
— Sheridan Press, 2024
| Property Type | Avg Nightly Rate | Avg Occupancy | Est. Annual Revenue |
|---|---|---|---|
| 1BR Downtown | $130–$165 | 72% | $34,000–$44,000 |
| 2BR Downtown | $185–$240 | 68% | $46,000–$60,000 |
| 3BR Downtown/Home | $250–$320 | 65% | $59,000–$76,000 |
| 2BR Mountain Cabin | $175–$225 | 62% | $40,000–$51,000 |
| 3BR Mountain Cabin | $235–$300 | 60% | $51,000–$66,000 |
| 4BR+ Large Home | $350–$500 | 58% | $74,000–$106,000 |
Estimates based on Wyo Stays managed portfolio data. Self-managed properties typically achieve 30–40% lower occupancy.
Average Daily Rate by Season
- WYO Rodeo Week (July 8–13): ADR spikes to $250–$450/night. This one week represents a disproportionate share of annual revenue.
- Peak Summer (June–August): $150–$250/night. Occupancy in the 75–85% range for professionally managed units.
- Shoulder (May, September–October): $110–$175/night. Occupancy drops to 50–65%, but lower overhead. October hunting season creates secondary demand.
- Off-Season (November–April): $90–$130/night. Monthly rentals become attractive for remote workers and snowbirds.
Occupancy: Year 1 vs. Year 2
- Year 1 (realistic): 45–60% annual occupancy. Revenue will likely undershoot projections. This is calibration, not failure.
- Year 2 (with professional management): 65–80% annual occupancy. Reviews accumulate, search ranking improves, repeat guests emerge.
- Year 3+: Stabilized at 70–85% with a mix of channel and direct bookings.
The biggest variable is management quality and pricing responsiveness. Properties with dynamic pricing tools and professional photography outperform DIY operations by 20–35% in year one.
The WYO Rodeo Effect
The annual PRCA rodeo in July draws 10,000+ visitors to a county of 30,000 people. For a 3-bedroom downtown property at $180/night normally, WYO Rodeo week can realistically command $300–$400/night. That single week can represent 8–12% of annual gross revenue.
Property Types That Perform Best
- Downtown Sheridan (2–4 bed): Highest demand, highest ADR, easiest to fill year-round. Walkability is a genuine premium driver.
- Mountain / foothills (Story, Dayton): Lower year-round occupancy but high summer demand from outdoor-focused guests.
- Highway corridor (south Sheridan): Lower ADR but easier to fill with business travelers and rodeo overflow.
The Channel Fee Problem
If your property earns $200/night on Airbnb, your net is $194 after the 3% host fee. Properties that build a direct booking channel over 2–3 years consistently outperform pure-channel operators by 15–25% on net revenue. A property doing $60,000 annually converting even 30% to direct bookings saves $2,300–$3,000/year.
What a Licensed Property Manager Does for Your Numbers
- Pricing lag: Manual pricing can't respond fast enough to demand signals.
- Response time: Airbnb's algorithm rewards sub-1-hour inquiry responses.
- Turnover coordination: Same-day turnovers require logistics that break down under individual owner management.
A licensed property manager with dynamic pricing tools typically offsets their management fee (usually 18–25% of gross) by recovering revenue that would otherwise be left on the table.
Free Income Analysis
Curious what your specific property could earn under professional management in Sheridan County? Wyo Stays provides a free income projection — no commitment. Call (307) 312-9656 or visit wyostays.com/owners.
See What Your Property Could Earn
Our revenue estimator tool runs the numbers for your specific property type, location, and availability. No commitment, no obligation — just a real projection based on current Sheridan County market data.
Frequently Asked Questions
Revenue varies significantly by property type, location, and management quality. A professionally managed 2-bedroom downtown property typically earns $35,000–$55,000 annually. A 3-4 bedroom mountain cabin earns $45,000–$75,000. WYO Rodeo week alone can generate $2,000–$5,000 in 4–5 days for the right property. Professionally managed properties average 68–72% annual occupancy versus 28–35% for self-managed listings.
July is the peak revenue month, driven by WYO Rodeo week (July 8–11, 2026) and peak summer demand. June and August are strong secondary months. September maintains good occupancy with fall outdoor visitors. December through February offers the lowest demand — but Antelope Butte ski season is creating new winter demand.
Year 1 (realistic): 45–60% annual occupancy. Year 2 with professional management: 65–80%. Year 3+: Stabilized at 70–85% with a mix of channel and direct bookings. The biggest variable is management quality and pricing responsiveness. Properties with dynamic pricing and professional photography outperform DIY operations by 20–35% in year one.