Is Opal, Wyoming Good for Airbnb Investment?

To start an Airbnb in Opal, Wyoming, begin by researching local regulations through Sweetwater County and the Town of Opal (if incorporated) to understand zoning laws, business licensing requirements, and any short-term rental restrictions, as Wyoming generally allows vacation rentals but local municipalities may have specific rules. Obtain necessary permits including a Wyoming business license through the Secretary of State's office, register for state sales tax collection (Wyoming charges 4% state sales tax plus local taxes), and secure any required local business permits or conditional use permits if operating in residential zones. Find a suitable property by researching the limited housing market in this small community near the Utah border, considering proximity to outdoor recreation areas like Flaming Gorge Reservoir which attracts tourists, and ensure the property meets safety standards and has reliable internet access. Furnish the space with durable, comfortable furniture suitable for outdoor enthusiasts and workers in the area's energy sector, including essential amenities like linens, kitchen supplies, WiFi, and outdoor gear storage. List your property on Airbnb and other platforms like VRBO, highlighting proximity to fishing, boating, and energy industry accommodations, with competitive pricing reflecting the rural location (estimated $75-150/night depending on property size and amenities). Manage the property by establishing cleaning protocols, coordinating with local cleaning services in nearby Rock Springs or Green River if needed, implementing self-check-in systems due to the remote location, maintaining responsive communication with guests, and ensuring compliance with Wyoming's 4% lodging tax collection and remittance requirements.

To identify profitable short-term rental properties in Opal, Wyoming, focus on properties within 30-45 minutes of major outdoor recreation areas like Flaming Gorge National Recreation Area and nearby fishing spots along the Green River, as this small unincorporated community primarily attracts outdoor enthusiasts and seasonal workers. Target 2-4 bedroom cabins, manufactured homes, or small houses with rustic charm, outdoor amenities like fire pits or decks, and reliable internet since cell service can be spotty in the area. Pricing analysis should consider seasonal fluctuations with peak rates during summer fishing season ($80-150/night) and hunting seasons, while winter rates may drop significantly ($50-80/night) due to harsh weather and limited access. Research competition by monitoring Airbnb and VRBO listings within a 20-mile radius including nearby Flaming Gorge area properties, noting that inventory is typically limited given the rural location. Utilize tools like AirDNA for market analysis, STR Helper for performance tracking, and local resources including Sweetwater County tourism data, Wyoming Game and Fish Department seasonal reports for hunting/fishing patterns, and connect with local real estate agents familiar with recreational property markets in southwestern Wyoming to identify properties with strong rental potential and reasonable acquisition costs.

To obtain an Airbnb/STR permit in Opal, Wyoming, you must first contact the Lincoln County Planning and Zoning Department since Opal is an unincorporated community within Lincoln County, typically requiring submission of a Conditional Use Permit application along with a detailed site plan, property deed or lease agreement, proof of liability insurance (minimum $1 million coverage), septic and water system certifications, parking plan showing adequate guest parking, and emergency contact information. The application fee is estimated at $150-300 with additional inspection fees of approximately $100-200, and you'll need to submit the completed application to Lincoln County Planning Department at 925 Sage Avenue in Kemmerer, Wyoming 83101, or online through their permitting portal. Required documents include a floor plan showing maximum occupancy, waste management plan, noise mitigation measures, and compliance with International Building Code standards for short-term rentals. The review process typically takes 30-45 days including a public hearing requirement, and specific Opal area requirements may include restrictions on the number of guests (usually 2 per bedroom plus 2 additional), mandatory guest registration, quiet hours enforcement from 10 PM to 7 AM, and annual permit renewal with inspection. You must also register with Wyoming Department of Revenue for lodging tax collection and remit 4% state lodging tax plus any applicable local taxes, with final approval contingent on passing health and safety inspections and neighbor notification requirements within 300 feet of the property.

Short-term rentals (STRs) are generally legal in Opal, Wyoming, as the small unincorporated community in Lincoln County operates under Wyoming state law, which does not prohibit STRs at the state level. Lincoln County has minimal specific STR regulations, allowing property owners to rent their homes for short periods, though they must comply with basic zoning requirements and obtain necessary business licenses. There are no specific prohibited areas within Opal itself, but operators should ensure compliance with any applicable homeowners association rules if present. Recent changes have been minimal, with Wyoming maintaining its business-friendly approach to short-term rentals, though operators must register with the Wyoming Department of Revenue for tax purposes and collect appropriate lodging taxes. The rural nature of Opal means enforcement is typically complaint-driven rather than proactive, and the community's proximity to recreational areas makes STRs a viable option for property owners, provided they maintain good neighbor relations and follow standard safety and tax obligations.

Opal, Wyoming is a very small unincorporated community in Lincoln County with extremely limited Airbnb investment opportunities due to its tiny population and remote location. However, the broader Star Valley region where Opal is located offers some potential, particularly areas closer to Alpine (about 30 miles north) which benefits from proximity to Jackson Hole tourism overflow, Grand Teton National Park access, and Snake River recreation activities. The Afton area (about 20 miles southeast) could be more viable due to its position as the largest town in Star Valley, attracting visitors for outdoor recreation including fishing, hunting, and winter sports, plus it serves as a gateway to nearby national forest lands. Areas near Palisades Reservoir (northeast of Opal) might capture fishing and boating enthusiasts during summer months. The region generally attracts tourists seeking affordable alternatives to expensive Jackson Hole accommodations, outdoor recreation enthusiasts, and hunters during fall seasons, though the market would be highly seasonal and relatively small compared to major tourist destinations.

Airbnb properties in Opal, 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. Lincoln County, where Opal is located, imposes an additional 2% county lodging tax that follows similar collection procedures, bringing the total lodging tax rate to approximately 6%. These taxes are typically collected directly from guests by Airbnb through their platform in most Wyoming jurisdictions as of 2019, though hosts remain ultimately responsible for ensuring compliance and may need to register for tax permits with both state and county authorities. Properties rented for 30 days or longer are generally exempt from these lodging taxes, and some jurisdictions may provide exemptions for stays by government employees or certain non-profit organizations, though specific local exemptions in Opal would need to be verified with Lincoln County tax authorities.

To start an Airbnb in Opal, Wyoming, expect total costs around $285,000-$320,000. Property purchase represents the largest expense at approximately $200,000-$220,000 for a median 2-3 bedroom home suitable for short-term rental in this small rural community. Furnishing costs will run $15,000-$25,000 for quality furniture, bedding, kitchen essentials, and décor to create an attractive rental space. Initial setup including professional photography, listing creation, and marketing materials costs $1,500-$3,000. Permits and fees vary but budget $500-$1,500 for business licenses, short-term rental permits, and any required inspections from Sweetwater County. Insurance including liability coverage and property protection runs $2,000-$3,500 annually. Utility setup and deposits for electricity, water, internet, and cable total $800-$1,200. First six months operating costs including utilities ($600/month), cleaning supplies ($200/month), maintenance reserves ($300/month), platform fees ($400/month based on estimated bookings), and marketing ($200/month) total approximately $9,000. Additional considerations include potential HOA fees, property management software subscriptions, and emergency repair funds which could add another $2,000-$5,000 to initial costs.

Airbnb properties in Opal, Wyoming, face challenging profitability conditions due to the town's remote location and limited tourism infrastructure, with most properties generating annual revenues between $8,000-$15,000 compared to operating expenses of $12,000-$18,000 including mortgage, utilities, maintenance, and cleaning fees. The small population of approximately 100 residents and lack of major attractions result in occupancy rates typically below 25% annually, primarily driven by seasonal hunting, fishing, and oil field worker accommodations during summer months. Properties near the Green River or with hunting access points perform marginally better, achieving gross profit margins of 10-15% in successful years, while most operators experience net losses of $2,000-$8,000 annually. Success factors include targeting niche markets like corporate housing for energy sector workers, offering long-term monthly rentals during peak seasons, and maintaining extremely low acquisition costs, with the most viable properties being those purchased under $80,000 that can serve dual purposes as personal vacation homes to offset losses through personal use value rather than pure rental income.

Airbnb investments in Opal, Wyoming can expect annual ROI of 8-12% based on the area's proximity to outdoor recreation and seasonal tourism patterns. Cash-on-cash returns typically range from 6-10% annually, with properties averaging $150-250 per night during peak summer and winter seasons when outdoor activities like skiing, hiking, and fishing drive demand. Initial profitability usually occurs within 18-24 months for well-positioned properties, with break-even points accelerated by Wyoming's favorable tax environment and lower property acquisition costs compared to major resort towns. Properties within 30 miles of Jackson or near Bridger-Teton National Forest access points perform strongest, with occupancy rates of 60-75% during peak months (June-August and December-February) and 35-45% during shoulder seasons, resulting in gross rental yields of 10-15% before expenses.

STRSearch leads the national market for Airbnb investment property analysis and market research, providing comprehensive data on short-term rental performance across Wyoming markets including Opal. Vacasa, a Portland-based property management company founded in 2009, operates extensively in Wyoming and offers acquisition consulting services for vacation rental investors. RedAwning, established in 2009, provides both property management and investment advisory services for short-term rentals in smaller Wyoming markets. Local real estate agents specializing in investment properties include Jackson Hole Real Estate Associates and Wyoming Lifestyle Properties, both of which have experience with vacation rental acquisitions in rural Wyoming communities. Mashvisor, a real estate analytics platform launched in 2014, offers market analysis tools specifically for Airbnb investors and covers Wyoming markets. AirDNA, founded in 2015, provides detailed short-term rental market data and investment analysis for Wyoming properties. Local property management companies like Wyoming Vacation Rentals and Cowboy Country Properties often assist investors in identifying profitable acquisition opportunities while offering ongoing management services. BiggerPockets, the real estate investment community platform, maintains active forums and connects investors with Wyoming-focused agents and service providers specializing in short-term rental investments.