Is Hanna, Wyoming Good for Airbnb Investment?

To start an Airbnb in Hanna, Wyoming, begin by researching local regulations through Carbon County and the Town of Hanna, as Wyoming generally allows short-term rentals but local municipalities may have specific requirements including business licenses, occupancy permits, and tax registration with the Wyoming Department of Revenue for lodging taxes (typically 4% state tax plus local taxes). Obtain necessary permits by contacting Carbon County Planning Department and Hanna Town Hall for zoning compliance, business licenses, and any required inspections, while also securing appropriate insurance coverage that includes short-term rental protection. Find a suitable property by searching local real estate listings, considering proximity to attractions like the Medicine Bow National Forest and Union Pacific Railroad history sites, ensuring the property meets safety codes and has adequate parking and utilities. Furnish the space with essential amenities including quality bedding, kitchen supplies, Wi-Fi, heating for harsh Wyoming winters, and local guidebooks highlighting nearby outdoor activities and historical sites. List your property on Airbnb and other platforms like VRBO with professional photos showcasing mountain views and rustic charm, competitive pricing research for the Carbon County market (likely $75-150/night depending on size and amenities), and detailed descriptions emphasizing outdoor recreation access. Manage the property by establishing cleaning protocols between guests, creating a local network for maintenance issues, providing clear check-in instructions for the remote location, and maintaining responsive communication with guests while highlighting nearby attractions like Elk Mountain Ski Area and historic Hanna Basin Museum.

To identify profitable short-term rental properties in Hanna, Wyoming, focus on properties within 2-3 miles of major attractions like the Union Pacific Railroad Museum and historic downtown area, as well as proximity to outdoor recreation access points for hunting, fishing, and ATV trails that draw visitors year-round. Target 2-4 bedroom properties built after 1980 with updated kitchens, reliable heating systems, and outdoor spaces like decks or patios, as these features command premium rates in rural Wyoming markets. Conduct pricing analysis using AirDNA and Mashvisor to benchmark against comparable properties in nearby Rawlins and Laramie, aiming for average daily rates between $85-150 depending on property size and amenities. Research competition by analyzing existing STR listings within a 15-mile radius on Airbnb and VRBO, noting occupancy patterns, guest reviews, and seasonal demand fluctuations tied to hunting seasons and railroad enthusiast events. Utilize tools like Rabbu for local market analysis, STR Helper for revenue projections, and connect with Hanna's town clerk office for zoning regulations and permit requirements, while monitoring Carbon County tourism data and Union Pacific historical society event calendars to identify peak demand periods that can drive higher occupancy rates.

To obtain an Airbnb/STR permit in Hanna, Wyoming, you'll need to contact the Carbon County Planning and Zoning Department since Hanna is an unincorporated town within Carbon County, located at 415 W Pine Street in Rawlins, Wyoming 82301, or call (307) 328-2651. Required documents typically include a completed short-term rental application, proof of property ownership or lease agreement, certificate of insurance with minimum $1 million liability coverage, floor plan of the rental unit, septic system inspection if applicable, and fire safety compliance documentation. The application fee is estimated at $150-300 with an annual renewal fee of approximately $100-200. You'll need to ensure compliance with Carbon County zoning regulations, which may restrict STRs in certain residential areas, maintain adequate parking spaces (typically 2 per unit), provide emergency contact information for a local representative available 24/7, and follow occupancy limits based on bedroom count and septic capacity. The approval timeline is generally 30-60 days depending on completeness of application and any required inspections. Additionally, you must register with the Wyoming Department of Revenue for sales tax collection purposes and may need to comply with state lodging tax requirements, while also checking if any homeowners association restrictions apply to your specific property location within Hanna.

Short-term rentals (STRs) are generally legal in Hanna, Wyoming, as the state of Wyoming does not impose statewide restrictions on STRs and takes a relatively hands-off approach to vacation rental regulation. Carbon County, where Hanna is located, does not appear to have specific county-wide STR ordinances as of 2023-2024. The Town of Hanna itself has minimal municipal regulations regarding short-term rentals, operating under basic zoning laws that typically allow residential properties to be used for rental purposes. Property owners must still comply with standard requirements such as obtaining proper business licenses, paying applicable taxes including Wyoming's 4% state sales tax and any local lodging taxes, and meeting basic safety and health standards. There are no known prohibited areas specifically for STRs within Hanna's town limits, though properties must generally conform to existing residential zoning requirements. Recent legal changes have been minimal at the local level, with most regulatory activity occurring in larger Wyoming municipalities like Jackson and Teton County rather than smaller towns like Hanna, making it a relatively permissive environment for STR operations compared to more restrictive markets elsewhere in the state.

The best areas for Airbnb investment in Hanna, Wyoming are primarily concentrated around the town center near the Union Pacific Railroad corridor and the historic downtown district, which attracts visitors interested in the area's coal mining heritage and railroad history. The residential neighborhoods along 1st Street and 2nd Street offer good investment potential due to their proximity to local amenities and the Hanna Basin Museum, drawing history enthusiasts and genealogy researchers. Properties near the Hanna Recreation Center and surrounding parks appeal to outdoor enthusiasts accessing nearby hunting, fishing, and camping opportunities in the Medicine Bow National Forest. The area around Highway 30/Lincoln Highway is attractive for investors due to its accessibility for travelers passing through this historic transcontinental route, while properties with views of the surrounding rangeland and mountains can command premium rates from visitors seeking authentic Wyoming ranch experiences. Business travelers visiting local ranching operations, wind energy projects, and mining consultations also create steady demand, particularly for properties offering reliable internet and workspace amenities.

Airbnb properties in Hanna, Wyoming are subject to Wyoming's state lodging tax of 4% on gross receipts from short-term rentals under 30 days, which is collected by the Wyoming Department of Revenue and must be remitted monthly by the 19th of the following month if monthly gross receipts exceed $750. Carbon County, where Hanna is located, imposes an additional 2% county lodging tax that follows similar collection procedures, bringing the total lodging tax rate to approximately 6%. The town of Hanna may also impose a local lodging tax of up to 2%, though specific rates vary by municipal ordinance and would need to be confirmed with the town clerk. These taxes are typically collected from guests at the time of booking through platforms like Airbnb, which may remit taxes directly to the state and local jurisdictions on behalf of hosts, though hosts remain ultimately responsible for compliance. Exemptions generally apply to stays of 30 days or longer, which are considered long-term rentals rather than transient lodging, and some exemptions may exist for certain government or charitable organization bookings, though specific exemption criteria should be verified with the Wyoming Department of Revenue and local tax authorities.

To start an Airbnb in Hanna, Wyoming, expect total costs around $180,000-$220,000. Property purchase will be the largest expense at approximately $150,000-$180,000 for a median-priced home in this small Wyoming town. Furnishing costs typically range $8,000-$15,000 for a complete setup including beds, linens, kitchen essentials, and living room furniture. Initial setup costs including professional photography, listing creation, and basic renovations average $2,000-$4,000. Permits and fees vary but budget $500-$1,500 for business licenses, short-term rental permits, and potential HOA approvals. Insurance will cost $1,200-$2,000 annually for short-term rental coverage. Utility setup and deposits for electricity, water, gas, internet, and cable typically run $500-$800. First six months operating costs including utilities ($600-$900 monthly), cleaning supplies, maintenance, platform fees, and marketing should be budgeted at $5,000-$8,000. Additional considerations include property taxes, potential property management fees if using a service, and emergency repair funds.

Airbnb properties in Hanna, Wyoming, face challenging profitability conditions due to the town's small population of approximately 800 residents and limited tourist infrastructure, with average daily rates typically ranging from $75-120 compared to Wyoming's statewide average of $150-200. Properties in Hanna generally achieve occupancy rates of 25-40% annually, significantly lower than popular Wyoming destinations like Jackson Hole (65-75%), resulting in gross revenues of $8,000-18,000 per year for typical 2-3 bedroom properties. Operating expenses including utilities, cleaning, maintenance, insurance, and platform fees typically consume 60-70% of gross revenue, leaving net profit margins of 10-25% or roughly $1,500-4,500 annually. Success factors for profitable Airbnb operations in Hanna include targeting hunting and fishing enthusiasts during peak seasons (September-November and May-July), offering competitive pricing 20-30% below regional averages, maintaining properties near outdoor recreation access points, and marketing to workers from nearby energy projects or railroad operations. Properties that cater to extended stays for temporary workers or hunters tend to perform better, with some achieving 45-55% occupancy rates and annual profits of $6,000-8,000, though the overall market remains constrained by Hanna's remote location and limited year-round demand drivers.

Airbnb investments in Hanna, Wyoming typically generate annual ROI of 8-12% with cash-on-cash returns ranging from 6-10%, primarily driven by the town's proximity to outdoor recreation areas and seasonal hunting activities. Properties in Hanna, with an average purchase price of $150,000-$250,000, can expect nightly rates of $80-$120 during peak seasons (summer and hunting season) and $50-$80 during off-peak periods, resulting in annual gross revenues of $18,000-$28,000 for well-managed properties with 60-70% occupancy rates. Most investors reach profitability within 18-24 months, factoring in initial renovation costs of $15,000-$25,000 and ongoing expenses including property management (20-25% of revenue), utilities, insurance, and maintenance. The market benefits from limited hotel inventory in the area and consistent demand from visitors to Medicine Bow National Forest and Sierra Madre Mountains, though seasonality requires careful cash flow management during slower winter months when occupancy can drop to 30-40%.

STRSearch is a national platform that specializes in identifying profitable short-term rental properties for investors looking in Hanna, Wyoming. Local real estate agents in the area who understand vacation rental markets include Wyoming-based firms like Century 21 BHJ Realty and Coldwell Banker The Legacy Group, which have experience with investment properties in small Wyoming towns. National services that can assist with Airbnb property acquisition in Hanna include AirDNA for market analysis, Mashvisor for investment property analytics, and Roofstock which occasionally features short-term rental properties in Wyoming markets. BiggerPockets connects investors with local professionals familiar with the Hanna market, while companies like RedAwning and Vacasa provide property management services that can help evaluate potential profitability. Local property management companies such as Wyoming Vacation Rentals and High Country Property Management offer insights into the Carbon County short-term rental market and can assist with property identification and management setup for investors targeting the Hanna area.