Real Estate Investing in Carpenter, Wyoming (82054)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 82054 (Carpenter, WY)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated poverty: 29.7% poverty rate — can affect rent collection.
- Higher unemployment: 9.8% unemployment — tenant risk signal.
- High price-to-rent: Price-to-rent ratio 40.1 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Carpenter, WY (82054)?
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Market Analysis: 82054 Carpenter
Investors eyeing 82054 need to respect the fundamentals at play. Home values of $507K come alongside slower price movement and elevated management overhead.
The investment case in 82054 is substantial only for operators who understand what they are buying. A $507K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
In the broader WY picture, 82054 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The demographic picture in 82054 includes headwinds that any investor should price in. Income distribution skews lower than Carpenter averages, and tenant stability requires active management.
seems to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Carpenter:
Market Trends
Home Value History (with trend line)
📊 How Does 82054 Compare?
| Metric | 82054 | Carpenter | Cheyenne, WY | Wyoming |
|---|---|---|---|---|
| Home Value | $506,948 | $506,948 | N/A | $359,462 |
| 5-Year CAGR | 5.0% | 5.0% | N/A | 6.2% |
| Avg Rent | $1,053 | $1,053 | N/A | - |
| Cap Rate | 1.6% | 1.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 82054 (Carpenter, WY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $506,948 |
| Monthly Rent | $1,053 |
| Price-to-Rent | 40.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.5% |
| Cap Rate | 1.6% |
| 5-Year IRR | 6.7% |
📈 Home Appreciation
| 1-Year | +7.6% ▲ |
| 3-Year CAGR | +5.4% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 82054
Population: 871
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 82054
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
Is the tenant base reliable in Carpenter, WY?
The tenant pool in Carpenter, WY is solid, supported by local employment and population fundamentals. Rents of $1,053/mo are well-absorbed by the market.
What kind of vacancy should I budget for in Carpenter, WY?
Carpenter, WY sees elevated vacancy, which is reasonable relative to the broader WY rental market.
What is the typical home price in Carpenter, WY?
Typical homes in Carpenter, WY go for around $507K. The 5-year CAGR of 0.0% measured price movement.
How much do tenants pay in Carpenter, WY?
Carpenter, WY rentals go for roughly $1,053/mo a month. That puts gross yield in solid territory relative to $507K acquisition costs.
Is WY a landlord-friendly state?
Rental owners in Carpenter, WY deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
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