Cody, WY

  • Overview
  • Performance
  • Listings
  • Buy Box

Key Performance Metrics

Market snapshot

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

Listings

234 / 583

Reliable / Active

Cap Rate

6%

Middle-Earners Gross Yield

Revenue

$27,737

Middle-Earners Revenue

Occupancy

60%

Middle-Earners Occupancy

Home Value

$467,156

Median Home Sale Price

Top Earners

$50,799

Top-Earners Revenue

Cody

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Cody.

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B

Generally Investor friendly

Cody Regulations

STRs are explicitly permitted citywide with clear zoning rules, a simple registration process, and a modest $100 fee; the city lacks meaningful caps and emphasizes safety/tax compliance over heavy restrictions. The main friction comes from fire/life-safety inspections, occasional owner-occupancy mandates in certain residential zones, and required insurance, but the process is predictable and investor-friendly.

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About Cody

Cody is a small city in northwestern Wyoming, serving as the seat of Park County. With a population of approximately 9,500 residents, it carries a distinctly Western character, holding tight to its frontier heritage while functioning as a year-round tourism hub. The town is best known as a gateway to the eastern entrances of Yellowstone National Park and as the namesake legacy of Colonel William F. "Buffalo Bill" Cody, who founded the community in 1896. It sits roughly 100 miles south of Billings, Montana, the nearest significant metropolitan area, with the drive typically taking close to two hours by car.

The crown jewel of Cody's cultural offerings is the Buffalo Bill Center of the West, a sprawling Smithsonian-affiliated complex of five museums covering Western art, Plains Indian history, firearms, natural history, and the life of Buffalo Bill himself. Located right in town, it is easily walkable from most downtown lodgings and draws visitors for half-day explorations during both summer and shoulder seasons.

Just west of town, Buffalo Bill State Park and the Buffalo Bill Dam straddle the Shoshone River Canyon, offering scenic overlooks, picnicking, and access to the reservoir for boating and fishing. The dam itself, completed in 1910, was once the tallest in the world and remains an impressive piece of early-twentieth-century engineering set against rugged red rock walls.

West of Cody, roughly an hour's drive through the Wapiti Valley, lies the East Entrance to Yellowstone National Park, where travelers cross dramatic mountain scenery before reaching the park's interior. Cody's position makes it a natural staging ground for multi-day visits to the world's first national park, and the route west is widely known for wildlife sightings including elk, bison, and grizzly bears.

To the east of town, the Heart Mountain World War II Japanese American Internment Camp site preserves the location where thousands of Japanese Americans were held during the war. Today the site includes an interpretive learning center and the original hospital building, offering a sobering and important historical experience about twenty minutes from downtown.

Cody's combination of authentic Western character, a deep bench of cultural and historical attractions, and direct access to one of America's most iconic national parks makes it an unusually well-rounded base for short-term rental operators. Guests can spend mornings in museums and evenings at rodeos or trail rides, then set out for day trips into Yellowstone or the surrounding Absaroka Mountains. The town's compact size keeps logistics simple for property owners, while its position at the meeting point of the Bighorn Basin, the Wapiti Valley, and the Shoshone National Forest ensures that outdoor, cultural, and historical travelers all find reasons to extend their stays.

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