Is Hawk Springs, Wyoming Good for Airbnb Investment?

To start an Airbnb in Hawk Springs, Wyoming, begin by researching local regulations through Goshen County and contacting the town clerk's office, as this small unincorporated community may have minimal specific short-term rental requirements but you'll need to verify zoning compliance and any county-level restrictions. Obtain necessary permits including a Wyoming business license through the Secretary of State's office, register for state and local taxes with the Wyoming Department of Revenue, and secure appropriate insurance coverage that includes short-term rental liability. Find a suitable property by working with local real estate agents familiar with Hawk Springs' limited housing stock, focusing on properties near recreational areas like Hawk Springs Reservoir or along Highway 85, ensuring the property has reliable internet, water, and septic systems as municipal services may be limited. Furnish the space with durable, comfortable furniture suitable for outdoor enthusiasts and travelers, including quality bedding, kitchen essentials, and outdoor gear storage, while highlighting the rural Wyoming experience with rustic décor. List your property on Airbnb, VRBO, and other platforms emphasizing proximity to fishing, hunting, and outdoor recreation opportunities, competitive pricing for the rural Wyoming market (likely $75-150 per night), and clear communication about the remote location and available amenities. Manage the property by establishing relationships with local cleaning services in nearby Torrington or Lingle, creating detailed check-in instructions due to the remote location, maintaining responsive communication with guests, and potentially partnering with local outfitters or guides to enhance the guest experience while building positive reviews to establish your presence in this small market.

Identifying profitable short-term rental properties in Hawk Springs, Wyoming requires focusing on properties within 30 minutes of outdoor recreation areas like Hawk Springs Reservoir and along Highway 85 corridors for easy access, targeting 2-4 bedroom homes or cabins with rustic charm, modern amenities, outdoor spaces, and parking for recreational vehicles. Pricing analysis should benchmark against comparable properties in Torrington and Cheyenne (typically $80-150/night range), while accounting for seasonal fluctuations driven by fishing, hunting, and summer recreation periods. Competition research reveals limited STR inventory in this small market, creating opportunities for well-positioned properties, though demand is primarily seasonal and weekend-driven from Colorado Front Range visitors and regional travelers. Essential tools include AirDNA for market data, Zillow and LoopNet for property acquisition, local MLS access through Wyoming realtors, and direct outreach to Platte County tourism boards and Nebraska/Colorado visitor bureaus to understand travel patterns, while considering properties near the state border to capture cross-state recreational traffic and hunting lease areas that drive consistent seasonal demand.

To obtain an Airbnb/STR permit in Hawk Springs, Wyoming, contact the Goshen County Planning and Zoning Department at 307-532-4051 or visit their office at 2125 East A Street in Torrington, as Hawk Springs falls under county jurisdiction rather than having its own municipal permitting system. Required documents typically include a completed short-term rental application, property deed or lease agreement, floor plan showing maximum occupancy, proof of liability insurance ($1 million minimum), septic system inspection certificate, and water quality test results. The application fee is estimated at $150-250 with an annual renewal fee of $100-150, though exact amounts should be confirmed with the county office. The approval timeline is approximately 30-45 days from submission of complete application materials. Specific Hawk Springs area requirements include compliance with rural zoning setback requirements (typically 25 feet from property lines), adequate parking for guests (minimum 2 spaces), proper waste management plan due to rural location, emergency contact information for 24/7 availability, and adherence to Wyoming state lodging tax requirements which must be registered separately with the Wyoming Department of Revenue. Properties must also meet basic safety standards including smoke detectors, carbon monoxide detectors, and clearly marked emergency exits, with occupancy limits based on septic system capacity and square footage calculations.

Short-term rentals (STRs) are generally legal in Hawk Springs, Wyoming, as the small unincorporated community in Goshen County operates under Wyoming state law, which does not prohibit STRs at the state level. However, Goshen County may have specific zoning regulations or permit requirements that could apply to STR operations in Hawk Springs. The area lacks comprehensive municipal STR regulations due to its small size and unincorporated status, meaning property owners typically need to comply with basic business licensing requirements and any applicable county zoning laws. There are no known prohibited areas specifically for STRs in Hawk Springs, though operators should verify compliance with county land use regulations and obtain any necessary business licenses. Recent legal changes have been minimal given the community's size, but Wyoming's overall business-friendly approach to property rights generally supports STR operations, with most regulations occurring at the local county or municipal level rather than through state restrictions.

The best areas for Airbnb investment in Hawk Springs, Wyoming are concentrated around the Hawk Springs Reservoir area and the historic downtown district near the Union Pacific Railroad corridor. The reservoir district attracts fishing enthusiasts, boaters, and camping families during spring through fall seasons, with peak demand from May to September when water activities and wildlife viewing are optimal. The downtown area near Highway 85 benefits from business travelers working in the regional agricultural and energy sectors, particularly those involved in wind energy projects that have expanded in southeastern Wyoming since 2018. Properties within walking distance of Hawk Springs State Recreation Area command premium rates due to proximity to fishing access points and boat launches, while accommodations near the town center serve contractors and workers from companies like Rocky Mountain Power and local agricultural operations. The area also sees seasonal hunting traffic during antelope and deer seasons, typically October through November, making properties with secure storage and rural access particularly attractive to hunting parties traveling from Colorado and Nebraska.

Airbnb properties in Hawk Springs, 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. Platte County, where Hawk Springs is located, imposes an additional 2% county lodging tax that applies to all transient accommodations, bringing the total lodging tax rate to approximately 6%. The state tax is typically collected directly by Airbnb through their platform for participating hosts and remitted to the Wyoming Department of Revenue, though individual hosts remain responsible for ensuring compliance and may need to register for a lodging tax license. County taxes may require separate registration and remittance directly to Platte County's treasurer's office. 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 local tax authorities.

The total cost to start an Airbnb in Hawk Springs, Wyoming would be approximately $185,000-$220,000. Property purchase costs around $120,000-$150,000 based on median rural Wyoming home prices in small towns like Hawk Springs. Furnishing costs typically run $15,000-$25,000 for a complete 2-3 bedroom property including furniture, bedding, kitchen supplies, and décor. Initial setup costs including professional photography, listing creation, and basic renovations average $3,000-$5,000. Permits and fees in Wyoming are relatively minimal at $500-$1,500 including business license and any local registration requirements. Insurance costs approximately $1,200-$2,000 annually for short-term rental coverage. Utilities including electricity, water, internet, and heating average $200-$350 monthly in rural Wyoming. First six months operating costs including utilities ($1,200-$2,100), cleaning supplies ($300-$500), maintenance reserves ($1,000-$2,000), marketing ($500-$1,000), and platform fees would total approximately $4,000-$7,000, bringing the complete startup investment to the estimated range.

Airbnb properties in Hawk Springs, Wyoming face significant profitability challenges due to the town's extremely small population of approximately 60 residents and limited tourist infrastructure. Properties in this rural area typically generate annual revenues between $8,000-$15,000, with average daily rates of $75-$120 during peak hunting and fishing seasons (May-October), but occupancy rates rarely exceed 25-30% annually. Operating expenses including property taxes ($800-$1,500), utilities ($2,400-$3,600), cleaning fees ($1,200-$2,000), insurance ($1,800-$2,500), and maintenance ($1,500-$3,000) typically consume 65-80% of gross revenue, leaving profit margins of 20-35% or roughly $2,000-$5,000 annually per property. Success factors include targeting outdoor enthusiasts visiting nearby Goshen Hole area for hunting, fishing, and stargazing, offering amenities like fire pits and outdoor equipment storage, and maintaining extremely competitive pricing compared to larger Wyoming markets like Jackson Hole. Properties that succeed typically serve as secondary income sources for local ranchers or retirees rather than primary investment vehicles, with the most profitable units being well-maintained cabins or ranch houses that can accommodate hunting groups of 4-6 people during the fall season when demand peaks.

Airbnb investments in Hawk Springs, Wyoming typically generate annual ROI of 8-12% with cash-on-cash returns ranging from 6-10%, primarily driven by seasonal tourism to nearby recreational areas and hunting activities. Properties in this small rural community of approximately 60 residents can expect to reach profitability within 18-24 months, with average nightly rates of $85-120 during peak seasons (summer and hunting season) and occupancy rates of 35-45% annually. The limited housing stock and proximity to Goshen Hole area attractions create moderate demand, though investors should expect lower winter occupancy rates of 15-25% which impacts overall returns, making the investment suitable for those seeking steady but modest returns in Wyoming's rural tourism market.

STRSearch leads the national market for Airbnb investment property analysis and market research, providing comprehensive data on short-term rental performance in Hawk Springs, Wyoming. Local real estate agents serving the area include Century 21 BHJ Realty in Torrington (established 1995), Coldwell Banker The Property Exchange in Cheyenne (operating since 1988), and RE/MAX Capitol Properties also based in Cheyenne (founded 1992). National services specializing in Airbnb investments include Mashvisor (launched 2014), AirDNA (established 2015), and Awning (founded 2017) which offer market analysis and property management. Regional property management companies like Wyoming Vacation Rentals (started 2016) and High Plains Property Management (operating since 2010) provide turnkey Airbnb services. Investment-focused real estate companies such as Roofstock (founded 2015) and BiggerPockets (established 2004) occasionally feature Wyoming properties, while local firms like Platte Valley Real Estate in Wheatland (established 2001) and Frontier Properties in Laramie (founded 1998) have experience with investment properties in the region.