Buffalo, WY

  • Overview
  • Performance
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Key Performance Metrics

Market snapshot

Performance indicators for the Buffalo short-term rental market based on reliable data.

Listings

37 / 99

Reliable / Active

Cap Rate

4%

Middle-Earners Gross Yield

Revenue

$17,895

Middle-Earners Revenue

Occupancy

45%

Middle-Earners Occupancy

Home Value

$414,819

Median Home Sale Price

Top Earners

$34,314

Top-Earners Revenue

Buffalo

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Buffalo.

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B

Generally Investor friendly

Buffalo Regulations

STRs are clearly allowed in specific residential districts (R-2, R-3) via special use with an annual permit, state registration, and a designated local contact—providing a well‑defined, manageable compliance process. Fees appear moderate and no caps or outright prohibitions are mentioned, but the limited geographic scope and special‑use requirement keep it friendly rather than very friendly.

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About Buffalo

Buffalo is a small Western town that serves as the county seat of Johnson County in north-central Wyoming, with a population of roughly 4,600 residents. Set at the foot of the Bighorn Mountains where the plains give way to forested slopes, it has the relaxed, story-rich feel of a historic ranching community, with a tidy Main Street lined with brick storefronts, the well-known Occidental Hotel, and art galleries that reflect its creative and outdoorsy local culture. The town is best known as a gateway to the Bighorn National Forest and Cloud Peak Wilderness, and as a touchstone of Old West history through its connection to the Johnson County War of 1892. It sits about 60 miles east of Sheridan and roughly 140 miles north of Casper, making it a natural stopover for travelers exploring the Bighorn Basin or the route between the Black Hills and Yellowstone.

Just west of town, the Bighorn National Forest spreads across nearly 1.1 million acres of alpine terrain, with the scenic Cloud Peak Skyway climbing switchbacks up to more than 9,000 feet. Visitors come for hiking, fly fishing on the North Fork of the Clear Creek, and wildlife watching in a landscape of glacier-carved cirques and pine-shaded canyons, and the forest is typically reached in about 30 to 45 minutes from downtown Buffalo. It functions as a year-round playground, with snowmobiling and cross-country skiing in winter and wildflower-filled meadows in summer.

About 25 miles south of Buffalo, Fort Phil Kearny State Historic Site preserves the story of one of the most famous chapters in the Indian Wars, including the 1866 Fetterman Fight. Interpretive trails circle the original fort footprint, and the visitor center explains the broader conflict between the U.S. Army and the Lakota, Cheyenne, and Arapaho. It is an easy half-day trip that pairs well with nearby stops like the Wagon Box Fight site and the historic town of Story.

Within Buffalo itself, the Jim Gatchell Memorial Museum occupies a converted 1900 armory building on Fort Street and houses a large collection of Plains Indian artifacts, cowboy gear, and firearms chronicling the region's frontier past. A short drive north of town, Lake DeSmet State Park offers a quieter alternative to the busier mountain reservoirs, with a few dozen campsites, fishing for trout and walleye, and open prairie views that make for a peaceful evening drive back to town.

Buffalo works as a base for short-term rentals precisely because it threads together three appealing threads: a walkable historic downtown with a real Western character, immediate access to the alpine scenery of the Bighorns, and a layer of frontier history that gives visitors a reason to linger beyond a single night. It rewards travelers who prefer a slower pace and a deeper sense of place, which in turn tends to favor stays of two to four nights rather than quick overnight stops.

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