Is Torrington, Wyoming Good for Airbnb Investment?

To start an Airbnb in Torrington, Wyoming, begin by researching local regulations through the Torrington City Hall and Goshen County offices, as Wyoming generally has fewer restrictions than major cities but may require business licenses or zoning compliance for short-term rentals. Contact the Torrington Planning Department to verify if your intended property allows short-term rentals and obtain any necessary permits, which typically cost $50-200 annually. Find a suitable property by working with local real estate agents familiar with Torrington's market, focusing on areas near downtown or close to attractions like the Oregon Trail sites, with properties ranging from $80,000-250,000 depending on size and condition. Furnish the space with durable, comfortable furniture from retailers like Walmart in nearby Scottsbluff, Nebraska, or order online, budgeting $5,000-15,000 for a complete setup including kitchen essentials, linens, and basic amenities. Create your Airbnb listing with professional photos highlighting Torrington's small-town charm and proximity to historical sites, setting competitive rates around $60-120 per night based on local hotel prices. Manage the property by establishing relationships with local cleaning services, maintenance contractors, and consider using property management companies in the region if you're not local, while maintaining responsive communication with guests and ensuring compliance with Wyoming's 4% state lodging tax requirements.

To identify profitable STR properties in Torrington, Wyoming, focus on locations near the North Platte River for fishing access, proximity to downtown's historic district, and properties within 30 minutes of regional attractions like Fort Laramie National Historic Site. Target 2-4 bedroom single-family homes or cabins with outdoor amenities like fire pits, decks, and parking for boats/RVs, as the area attracts outdoor enthusiasts and travelers on Highway 26. Analyze pricing by researching comparable nightly rates on Airbnb and VRBO, typically ranging $80-150 per night in smaller Wyoming markets, while calculating occupancy rates around 40-60% annually given seasonal tourism patterns. Competition research should examine existing listings within 15 miles, noting gaps in amenities or property types, as Torrington's limited STR inventory creates opportunities for well-positioned properties. Utilize AirDNA for market data, STR Helper for revenue projections, and local resources like the Torrington Chamber of Commerce for tourism insights, while monitoring seasonal demand tied to fishing seasons, hunting periods, and summer road trip traffic between Colorado and South Dakota.

To obtain an Airbnb/STR permit in Torrington, Wyoming, you must first contact the Torrington City Clerk's office at City Hall located at 415 East 15th Avenue to inquire about their specific short-term rental ordinance and application process. You will need to submit a completed business license application, proof of property ownership or lease agreement with landlord consent, certificate of insurance with minimum $1 million liability coverage, floor plan of the rental unit, contact information for a local property manager if you live more than 50 miles away, and payment of approximately $150-300 in application and annual licensing fees. Additionally, you must provide proof of compliance with fire safety codes, obtain a sales tax license from the Wyoming Department of Revenue, and ensure the property meets all zoning requirements for your specific district. The application timeline typically takes 30-45 days for processing once all documents are submitted, and you may need to attend a city council meeting if your property is in a residential zone that requires special approval. Annual renewal is required with updated insurance documentation and payment of renewal fees, and you must maintain guest registration records and remit applicable lodging taxes to both the city and state of Wyoming.

Short-term rentals (STRs) are generally legal in Torrington, Wyoming, as the city does not have specific municipal ordinances prohibiting or heavily regulating vacation rentals as of 2023. Wyoming state law is relatively permissive regarding STRs, and Torrington, being a smaller city in Goshen County with a population of approximately 6,500, has not implemented the restrictive zoning or licensing requirements seen in larger tourist destinations. Property owners can typically operate STRs in residential areas without special permits, though they must comply with standard property tax obligations and any applicable state lodging taxes. There are no designated prohibited areas within Torrington city limits specifically for STRs, and the city has not enacted recent legislation targeting vacation rental operations. However, operators should ensure compliance with basic safety requirements, noise ordinances, and any homeowners association rules that may apply to their specific property, while also registering with the Wyoming Department of Revenue for tax purposes if rental income exceeds state thresholds.

The best areas for Airbnb investment in Torrington, Wyoming include the Historic Downtown District near Main Street, which attracts visitors interested in the town's railroad heritage and proximity to local restaurants and shops. The residential neighborhoods near the Goshen County Fairgrounds on West 15th Avenue offer strong potential during the annual Goshen County Fair in August and other events throughout the year. Areas close to the Eastern Wyoming College campus provide opportunities for visiting families, prospective students, and academic travelers. The neighborhoods near Trail End State Historic Site benefit from heritage tourism and visitors exploring Wyoming's ranching history. Properties within walking distance of the Torrington Municipal Airport serve business travelers and private aviation users. The residential areas along the North Platte River corridor appeal to fishing enthusiasts and outdoor recreation visitors, particularly during summer months. Neighborhoods near the intersection of US Highway 26 and US Highway 85 capture transient travelers and those visiting nearby attractions like Fort Laramie National Historic Site, approximately 30 miles away.

In Torrington, Wyoming, Airbnb hosts are subject to Wyoming's state lodging tax of 4% on gross receipts from short-term rental accommodations, which applies to rentals of less than 30 consecutive days. Goshen County, where Torrington is located, may impose an additional local lodging tax of up to 4%, bringing the potential total to 8%. These taxes are typically collected from guests at the time of booking through Airbnb's automatic tax collection system in many jurisdictions, though hosts should verify this applies to their specific location and may need to register directly with the Wyoming Department of Revenue and local tax authorities. Remittance is generally required monthly or quarterly depending on volume, with returns due by the 20th of the following month, and hosts must obtain the necessary permits and file returns even in months with no activity. Exemptions typically include stays of 30 days or longer, rentals to permanent residents, and accommodations provided to certain government employees or during specific circumstances, though hosts should confirm current exemption criteria as regulations can change and local ordinances may impose additional requirements or restrictions on short-term rentals.

The total cost to start an Airbnb in Torrington, Wyoming is approximately $185,000-$225,000. Property purchase costs around $150,000-$180,000 based on median home prices in small Wyoming towns. Furnishing a 2-3 bedroom property requires $8,000-$12,000 for beds, linens, kitchen essentials, living room furniture, and appliances. Initial setup including professional photography, listing creation, and basic renovations costs $2,000-$3,500. Permits and fees including business license, short-term rental permit, and tax registration total $500-$800. Insurance including landlord and short-term rental coverage runs $1,200-$1,800 annually. Utility deposits and connections for electricity, gas, water, internet, and cable cost $800-$1,200. First six months operating costs including utilities ($600/month), cleaning supplies ($100/month), maintenance ($200/month), platform fees ($300/month assuming $1,500 monthly revenue), and marketing total approximately $7,200. Additional considerations include property management software subscriptions ($50/month), welcome amenities ($200), and emergency repair fund ($2,000-$3,000).

Airbnb properties in Torrington, Wyoming show modest profitability potential with average nightly rates ranging from $75-120 for typical 2-3 bedroom properties, generating approximately $18,000-28,000 in annual revenue based on 40-50% occupancy rates common in smaller Wyoming markets. Operating expenses typically consume 60-70% of gross revenue, including property management fees (15-25%), cleaning costs ($40-60 per turnover), utilities ($150-250 monthly), insurance ($1,200-2,000 annually), and maintenance reserves, leaving net profit margins of 25-35% for well-managed properties. Success factors in this market include proximity to outdoor recreation areas like Glendo State Park, competitive pricing against limited hotel options, and targeting hunters, fishermen, and travelers passing through on Highway 26. A typical case study would be a renovated 3-bedroom ranch home purchased for $180,000 generating $24,000 annually with $16,800 in expenses, yielding $7,200 net profit (30% margin) and 4% cash-on-cash return, though seasonal fluctuations and Wyoming's tourism patterns significantly impact performance with peak months in summer and hunting seasons driving 60% of annual bookings.

Airbnb investments in Torrington, 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 tourism patterns. Properties in Torrington generally achieve profitability within 18-24 months, with average daily rates of $85-120 depending on property size and amenities. The market benefits from consistent demand from visitors to nearby Glendo State Park and hunters during fall seasons, though occupancy rates fluctuate seasonally between 45-65%. Initial investment costs are relatively low compared to major Wyoming markets, with typical properties requiring $150,000-250,000 investment, and investors can expect break-even on renovations and furnishing costs within the first two years of operation given consistent marketing and property management.

STRSearch is a leading national platform that specializes in identifying profitable short-term rental properties for investors looking in Torrington, Wyoming. Local real estate agents like Century 21 BHJ Realty and Prudential Rocky Mountain REALTORS have experience with investment properties in the Torrington area and understand the local vacation rental market dynamics. National services such as Mashvisor, BiggerPockets, and AirDNA provide market analysis and property identification tools specifically for Airbnb investments in smaller Wyoming markets. RedAwning and Vacasa offer property management services that can help investors evaluate potential returns on Torrington properties. Local property management companies like Wyoming Property Solutions and High Plains Property Management have knowledge of the area's rental regulations and seasonal demand patterns. Real estate investment firms such as Roofstock and Arrived Homes occasionally feature Wyoming properties, though availability in Torrington specifically may be limited. Additionally, local real estate agents affiliated with RE/MAX and Coldwell Banker in the greater Goshen County area can provide insights into properties suitable for short-term rental conversion, particularly those near local attractions like the Historic Trails Interpretive Center and seasonal hunting areas that drive visitor demand.