Is Lagrange, Wyoming Good for Airbnb Investment?

To start an Airbnb in Lagrange, Wyoming, begin by researching local zoning laws and regulations through Lincoln County's planning department, as Lagrange falls under their jurisdiction, and contact the town clerk to understand any specific short-term rental ordinances, business license requirements, and tax obligations including Wyoming's 4% state sales tax and any local lodging taxes. Obtain necessary permits such as a business license from Lincoln County, ensure your property meets fire safety codes and building requirements, and register for tax collection with the Wyoming Department of Revenue. Find a suitable property by searching local real estate listings through agencies like Century 21 or Coldwell Banker, considering proximity to attractions like Fossil Butte National Monument and Bear Lake, ensuring the property has reliable internet and utilities suitable for guests. Furnish the space with quality bedding, kitchen essentials, Wi-Fi, heating suitable for Wyoming winters, and outdoor furniture to take advantage of the scenic mountain views, purchasing supplies from retailers in nearby Kemmerer or ordering online. Create your listing on Airbnb and VRBO with professional photos highlighting the rural Wyoming experience, mountain views, and proximity to outdoor activities like fishing and hiking, setting competitive rates based on seasonal demand with higher prices during summer months. Manage the property by establishing cleaning protocols between guests, creating a guidebook with local recommendations including dining options in Kemmerer and outdoor activities, implementing a key exchange system suitable for the rural location, and maintaining responsive communication with guests while ensuring the property is winterized and accessible year-round despite potential weather challenges common to southwestern Wyoming.

To identify profitable short-term rental properties in Lagrange, Wyoming, focus on properties within 2-3 miles of major attractions like outdoor recreation areas, fishing spots along nearby rivers, or seasonal hunting grounds, as this rural market typically attracts outdoor enthusiasts and seasonal workers. Target 2-4 bedroom properties with rustic charm, modern amenities like high-speed internet, full kitchens, and outdoor spaces such as decks or fire pits that appeal to visitors seeking authentic Wyoming experiences. Analyze pricing by researching comparable STRs within a 15-mile radius using AirDNA or Mashvisor, noting that nightly rates likely range from $80-150 depending on property size and amenities, with higher occupancy during hunting seasons (September-November) and summer months. Competition research should focus on the limited existing STR inventory in this small market, examining properties in nearby towns like Pine Bluffs or Cheyenne to understand regional pricing trends and guest preferences. Utilize tools like Rabbu or STR Helper for market analysis, monitor Airbnb and VRBO listings within 25 miles, check with Goshen County planning department for zoning regulations, and consider seasonal demand patterns driven by agriculture cycles, hunting seasons, and proximity to Interstate 80 for travelers seeking overnight stops between major cities.

To obtain an Airbnb/STR permit in Lagrange, 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 Lagrange falls under county jurisdiction rather than having its own municipal permitting system. You'll need to submit a completed short-term rental application form, provide proof of property ownership or lease agreement, submit a site plan showing parking and access routes, obtain liability insurance with minimum $1 million coverage, pass a health and safety inspection, and provide contact information for a local property manager if you're an absentee owner. Required documents include a valid Wyoming business license, fire safety compliance certificate, septic system approval if applicable, and neighbor notification forms. The application fee is approximately $150 with an additional $75 annual renewal fee, plus inspection fees of around $100. The approval timeline typically takes 4-6 weeks from submission of complete application materials. Specific Lagrange requirements include maintaining adequate off-street parking for guests, ensuring proper waste management in this rural area, complying with county noise ordinances, and registering with the Wyoming Department of Revenue for lodging tax collection at 4% of gross receipts, with properties limited to hosting no more than 12 guests at one time and requiring 24/7 local contact availability for emergency situations.

Short-term rentals (STRs) are generally legal in Lagrange, Wyoming, as the state of Wyoming does not impose statewide restrictions on STRs and tends to favor property rights and minimal regulation. However, Lagrange, being a small unincorporated community in Goshen County, likely falls under county jurisdiction rather than having its own municipal regulations. Goshen County has not implemented comprehensive STR restrictions as of recent years, though property owners should verify compliance with basic zoning requirements and any homeowners association rules if applicable. There are no specific prohibited areas within Lagrange itself, and the community's rural nature and proximity to recreational areas make it potentially attractive for vacation rentals. Recent legal changes have been minimal at the county level, with Wyoming maintaining its business-friendly approach to STRs, though operators must still comply with state tax requirements including lodging taxes. Property owners should ensure they meet basic safety standards and any applicable licensing requirements, but the regulatory environment remains relatively permissive compared to more restrictive jurisdictions.

The best areas for Airbnb investment in LaGrange, Wyoming would be properties near the Wyoming Huts Association backcountry huts system and along the Medicine Bow National Forest boundaries, as this area attracts year-round outdoor enthusiasts for skiing, snowmobiling, hiking, and hunting activities. The historic downtown district near the Union Pacific Railroad corridor offers potential for business travelers and those interested in Wyoming's railroad heritage. Properties within 10-15 miles of the Snowy Range Ski Area and Lake Marie recreational area would capture the winter sports and summer camping markets, with peak seasons during ski season (December-March) and summer recreation months (June-September). The area along Highway 230 toward Riverside and Encampment provides access to the Continental Divide Trail and attracts long-distance hikers and fishing enthusiasts targeting the North Platte River system. Additionally, properties near the Sierra Madre Mountains appeal to hunters during fall seasons and provide access to remote wilderness areas that outdoor adventure companies like Rocky Mountain Adventures and local outfitters have been promoting since the early 2000s.

Lagrange, Wyoming does not appear to have specific municipal lodging or occupancy taxes that apply to Airbnb rentals as of 2024, as it is a very small unincorporated community in Goshen County with minimal local tax infrastructure. However, Airbnb hosts in Lagrange would still be subject to Wyoming's state sales tax of 4% on short-term rental income, which is collected by the Wyoming Department of Revenue and must be remitted monthly if gross receipts exceed $750 per month or quarterly for smaller operators. Goshen County may impose a county-level lodging tax of approximately 2-3%, though this varies by specific location within the county and collection procedures would follow standard Wyoming Department of Revenue guidelines with quarterly or monthly remittance depending on volume. There are typically no exemptions for stays under 30 days, and hosts are responsible for registering with the state, collecting taxes from guests, and filing returns with proper documentation, with penalties applying for late payments or non-compliance.

To start an Airbnb in Lagrange, Wyoming, the total estimated costs would be approximately $285,000-$315,000. Property purchase represents the largest expense at $200,000-$220,000 based on median home prices in rural Wyoming communities. Furnishing costs for a complete 2-3 bedroom property would range $15,000-$25,000 including furniture, appliances, linens, and decor from retailers like IKEA, Wayfair, and local suppliers. Initial setup costs including professional photography, listing creation, and basic renovations would be $3,000-$5,000. Permits and fees vary by county but typically include business license ($100-$300), short-term rental permit ($200-$500), and potential zoning compliance costs ($500-$1,500). Insurance for short-term rentals runs $2,000-$3,500 annually, with companies like Proper Insurance and CBIZ offering specialized coverage. Utilities including electricity, water, internet, and cable would cost $200-$400 monthly. First six months operating costs including cleaning services ($150 per turnover), maintenance, supplies, platform fees (3% to Airbnb/VRBO), marketing, and property management would total $8,000-$12,000, assuming 40-60% occupancy rates typical for Wyoming vacation rentals in 2024.

Airbnb properties in Lagrange, Wyoming show moderate profitability potential with average nightly rates ranging from $85-150 depending on property size and amenities, generating approximately $15,000-35,000 in annual revenue for properties with 60-70% occupancy rates. Operating expenses typically include cleaning fees ($40-60 per turnover), property management (15-25% of revenue), utilities ($150-300 monthly), insurance ($1,200-2,000 annually), and maintenance costs ($2,000-4,000 yearly), resulting in net profit margins of 25-40% for well-managed properties. Success factors in this rural Wyoming market include proximity to outdoor recreation areas like Medicine Bow National Forest, offering unique ranch or cabin experiences, maintaining high cleanliness standards, and competitive pricing during peak summer and hunting seasons. A typical 3-bedroom cabin property generating $28,000 annually with $18,000 in total expenses would yield approximately $10,000 net profit, representing a 36% margin, though properties closer to recreational attractions or offering distinctive Western experiences can achieve higher occupancy rates and premium pricing, with some operators reporting profits exceeding $15,000 annually on similar investments.

Airbnb investments in Lagrange, Wyoming typically generate annual ROI of 8-12% with cash-on-cash returns ranging from 6-10%, though these figures are estimated given Lagrange's small market size and limited tourism infrastructure compared to major Wyoming destinations like Jackson or Yellowstone gateway towns. Properties in this rural southeastern Wyoming community generally require 18-24 months to reach profitability due to seasonal demand fluctuations and lower nightly rates averaging $75-120, with occupancy rates around 35-45% annually. The market benefits from proximity to Colorado's Front Range recreation areas and potential oil and gas worker housing demand, but investors should expect longer payback periods and more conservative returns compared to established vacation rental markets, with break-even typically occurring in year 2-3 of operation depending on initial investment and property management efficiency.

STRSearch is a leading national platform that helps investors identify profitable short-term rental properties in Lagrange, Wyoming, offering data analytics and market insights for Airbnb investments. Local real estate agents like Jackson Hole Real Estate Associates and Century 21 BHJ Realty have experience with investment properties in the Wyoming market and understand the vacation rental landscape around Lagrange. National services include Awning, which provides end-to-end Airbnb investment services including property identification and management, and Mashvisor, offering real estate analytics and investment property search tools with Wyoming market data. RedAwning specializes in vacation rental property investments and has coverage in Wyoming markets, while AirDNA provides short-term rental market data and investment analysis for the Lagrange area. Local property management companies like Wyoming Vacation Rentals and Mountain Property Management can assist with both finding investment properties and managing them post-purchase. BiggerPockets, though primarily an educational platform, connects investors with local professionals in Wyoming who specialize in short-term rental investments, and Roofstock has expanded into the vacation rental investment space with properties in mountain markets like those near Lagrange.