Is Meeteetse, Wyoming Good for Airbnb Investment?

To start an Airbnb in Meeteetse, Wyoming, begin by researching local regulations through the Park County Planning and Zoning Department, as Meeteetse falls under county jurisdiction and may require special use permits for short-term rentals in residential zones. Contact Park County at (307) 527-8570 to understand zoning requirements, occupancy limits, and any conditional use permits needed. Obtain necessary permits including a Wyoming state sales tax license through the Department of Revenue, and register for local lodging taxes if applicable. Find a suitable property by working with local real estate agents familiar with Meeteetse's market, focusing on properties near attractions like the Meeteetse Museum or Charles Belden Museum, with average home prices ranging $200,000-$400,000 as of 2023. Furnish the property with western/rustic décor appropriate to the area's cowboy heritage, including essential amenities like Wi-Fi, heating for harsh winters, and outdoor furniture for summer guests. List your property on Airbnb, Vrbo, and Booking.com with professional photos highlighting the small-town charm and proximity to Yellowstone National Park (about 90 minutes away). For management, consider hiring local cleaning services like those in nearby Cody, install keyless entry systems, and partner with local businesses for guest recommendations, while maintaining competitive pricing around $100-150 per night depending on season and property size.

To identify profitable short-term rental properties in Meeteetse, Wyoming, focus on properties within walking distance of the Meeteetse Museums and historic downtown area, or those offering easy access to nearby outdoor recreation like the Absaroka Mountains and Greybull River. Target 2-4 bedroom properties with rustic charm, modern amenities, outdoor spaces, and parking, as these appeal to families and groups visiting for hunting, fishing, and western heritage tourism. Analyze pricing by researching comparable Airbnb and VRBO listings in Meeteetse and nearby Cody (30 miles away), aiming for nightly rates between $120-200 depending on size and amenities, with higher rates during peak hunting seasons (fall) and summer tourist months. Competition research should include monitoring the limited existing STR inventory in Meeteetse, studying occupancy rates and guest reviews of properties in Cody and Thermopolis, and identifying gaps in accommodation options for specific traveler segments. Utilize tools like AirDNA for market data, STR Helper for revenue projections, Mashvisor for investment analysis, and local resources including the Meeteetse Chamber of Commerce, Hot Springs County tourism data, and Wyoming Game and Fish Department hunting season calendars to understand demand patterns driven by outdoor recreation and the town's proximity to Yellowstone National Park's east entrance.

To obtain an Airbnb/STR permit in Meeteetse, Wyoming, you must first contact the Meeteetse Town Hall at 1947 State Street or call (307) 868-2515 to inquire about short-term rental regulations, as this small town may have recently implemented or be considering STR ordinances. You'll likely need to submit a completed business license application, proof of property ownership or lease agreement, certificate of insurance with minimum $1 million liability coverage, floor plan showing maximum occupancy, parking plan, and contact information for a local property manager if you're not residing locally. Required documents typically include a completed STR permit application, zoning compliance verification, fire safety inspection certificate, and neighbor notification forms. Application fees generally range from $100-300 initially with annual renewal fees of $50-150, though Meeteetse's specific fees may vary. The approval timeline is typically 30-60 days depending on completeness of application and any required inspections. Specific Meeteetse requirements likely include adherence to residential zoning restrictions, maximum occupancy limits based on bedrooms and septic capacity, designated parking spaces, quiet hours enforcement, and maintaining a local contact person available 24/7 for emergencies, though you should verify current regulations directly with the town clerk as rural Wyoming communities are actively updating their STR policies.

Short-term rentals (STRs) are generally legal in Meeteetse, Wyoming, as the small town of approximately 300 residents in Park County does not have specific municipal ordinances prohibiting or heavily regulating vacation rentals. Wyoming state law allows STRs, and most rural communities like Meeteetse operate under basic zoning regulations that typically permit residential properties to be used for short-term rental purposes. Property owners should ensure compliance with state tax requirements, including collecting and remitting lodging taxes to the Wyoming Department of Revenue, and may need to obtain basic business licenses. There are no known prohibited areas within Meeteetse specifically for STRs, though properties must generally comply with residential zoning requirements and any applicable homeowners association rules. Recent legal changes have been minimal at the local level, with most regulatory activity occurring at the state level regarding tax collection and reporting requirements that took effect around 2019-2020, requiring STR operators to register with the state and collect appropriate taxes from guests.

The best areas for Airbnb investment in Meeteetse, Wyoming are the historic downtown district along Park Avenue and State Street, which attracts tourists interested in the town's authentic Old West heritage and proximity to the Meeteetse Museum and Bank Museum, and properties near the Greybull River corridor that appeal to fishing enthusiasts and outdoor recreationists. The residential areas within walking distance of downtown offer charm for visitors attending the annual Meeteetse Days celebration in August and those exploring nearby attractions like the Charles Belden Museum. Properties on the outskirts with ranch views are particularly attractive to guests seeking authentic Wyoming experiences and serving as base camps for Yellowstone National Park visitors (45 minutes away) and those exploring the Absaroka Mountains. The area benefits from consistent tourism from May through September due to its location along scenic Highway 120, attracting photographers, historians, and outdoor enthusiasts interested in fishing, hiking, and wildlife viewing, while winter months see some business from hunters and snowmobile enthusiasts accessing nearby wilderness areas.

Airbnb properties in Meeteetse, 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. Park County, where Meeteetse is located, imposes an additional 2% county lodging tax that applies to all accommodations including short-term rentals, bringing the total lodging tax rate to approximately 6%. The town of Meeteetse may impose a local lodging tax of up to 2% under Wyoming statute, though specific rates vary and should be confirmed with local authorities. These taxes are typically collected from guests at the time of booking and remitted by hosts or property managers to the respective tax authorities quarterly or monthly depending on volume. Exemptions generally apply to stays of 30 days or longer, which are considered long-term rentals rather than transient lodging, and some jurisdictions may exempt rentals under certain dollar thresholds or provide exemptions for certain types of accommodations or guests.

Starting an Airbnb in Meeteetse, Wyoming requires approximately $285,000-$350,000 in total initial investment. Property purchase costs around $220,000-$280,000 based on median home prices in rural Wyoming markets, while furnishing a 2-3 bedroom property runs $15,000-$25,000 including furniture, appliances, linens, and décor to create an appealing guest experience. Initial setup costs of $3,000-$5,000 cover professional photography, listing creation, welcome materials, and basic amenities. Permits and fees total approximately $500-$1,200 including business licenses, lodging permits from Park County, and potential HOA approvals. Insurance costs $2,000-$3,500 annually for short-term rental coverage through companies like Proper Insurance or CBIZ, while utilities setup and deposits require $800-$1,500 for electricity, water, sewer, internet, and cable services. First six months of operating costs add $8,000-$12,000 covering utilities ($200-300/month), cleaning services ($75-100 per turnover), maintenance reserves, property management software subscriptions, and marketing expenses, bringing the complete startup investment to approximately $285,000-$350,000 depending on property size and finish level.

Airbnb properties in Meeteetse, Wyoming show moderate profitability potential with average nightly rates ranging from $85-150 for typical 2-3 bedroom properties, generating approximately $15,000-35,000 in annual revenue depending on occupancy rates of 35-55%. Operating expenses typically include property management fees (15-25%), cleaning costs ($40-60 per turnover), utilities ($150-250 monthly), insurance ($1,200-2,000 annually), and maintenance ($2,000-4,000 yearly), resulting in total expenses of roughly $8,000-18,000 annually. Profit margins generally range from 25-45%, with successful properties achieving $7,000-17,000 in net annual income. Success factors include proximity to Yellowstone National Park (45 minutes away), targeting outdoor enthusiasts and hunters during peak seasons (June-September and hunting seasons), offering amenities like hot tubs or game processing facilities, and maintaining high cleanliness standards. Properties within walking distance of downtown Meeteetse or with scenic views command premium rates, while those offering unique experiences like ranch stays or historic charm perform better than standard rentals. The market benefits from limited hotel inventory in the area, though seasonality significantly impacts year-round profitability, with winter months showing occupancy rates below 20% compared to summer peaks of 70-80%.

Airbnb investments in Meeteetse, Wyoming typically generate annual ROI of 8-12% with cash-on-cash returns ranging from 6-10% based on the town's proximity to Yellowstone National Park and seasonal tourism patterns. Properties in Meeteetse, particularly those marketed as gateway accommodations to Yellowstone's east entrance, can expect to reach profitability within 18-24 months given average daily rates of $120-180 during peak summer months (June-September) and $80-120 during shoulder seasons. The market benefits from Meeteetse's authentic western charm and outdoor recreation access, with occupancy rates typically reaching 65-75% annually, though investors should account for the seasonal nature of tourism and limited year-round demand outside of hunting seasons and summer park visits.

STRSearch is a national platform that helps investors identify profitable short-term rental properties across markets including Meeteetse, Wyoming. For this remote Wyoming market, national services like Awning, RedAwning, and Vacasa provide market analysis and property management services that can assist with Airbnb investments. Local real estate agents such as those with Century 21 BHJ Realty in nearby Cody (serving the greater Park County area including Meeteetse) and Fremont County Real Estate professionals have knowledge of rural Wyoming vacation rental opportunities. AirDNA and Mashvisor offer market data analytics for small markets like Meeteetse to help evaluate rental potential. Wyoming-based property management companies like Jackson Hole Property Management and Teton County vacation rental specialists sometimes extend services to smaller markets. Local Meeteetse real estate agents working with firms like Shoshone River Realty and independent brokers familiar with the area's proximity to Yellowstone National Park can identify properties suitable for short-term rentals, though the market is quite limited given Meeteetse's population of approximately 300 residents.