Real Estate Investing in Casper, Wyoming (82604)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 82604 (Casper, WY)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Casper, WY (82604)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 82604 Casper
Not every below-median market is a bargain. Casper's 82604 ZIP posts signals that favor experienced operators who can absorb the risk $326K pricing implies.
Rent of $1,464/mo on a $326K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 82604 sits below the stated 0.0% once reality is priced in.
Regionally, 82604 sits on the difficult end of the WY spectrum. The a viable market for read — for disciplined operators — is that pricing reflects the difficulty.
The 82604 ZIP's population of 27,584 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that comes in at the need for careful underwriting.
Strategy in 82604 is an operator game, not a passive one. In practical terms, entry prices of $326K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Casper:
Property Strategy for 82604
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $203,216 | $1,000 | 3.5% | +5.7% | $203,216 |
| 2BR | $236,922 | $1,270 | 3.9% | +7.2% | $118,461 |
| 3BR | $311,649 | $1,770 | 4.1% | +6.6% | $103,883 |
| 4BR | $370,225 | $2,130 | 4.1% | +6.5% | $92,556 |
| 5BR | $462,201 | — | — | +6.8% | $92,440 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 82604 Compare?
| Metric | 82604 | Casper | Casper, WY | Wyoming |
|---|---|---|---|---|
| Home Value | $325,898 | $194,526 | N/A | $359,462 |
| 5-Year CAGR | 5.4% | 5.3% | N/A | 6.2% |
| Avg Rent | $1,464 | $1,369 | N/A | - |
| Cap Rate | 3.5% | 3.3% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 82604 (Casper, WY). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 82604 (Casper, WY)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $325,898 |
| Monthly Rent | $1,464 |
| Price-to-Rent | 18.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | +3.2% ▲ |
| 3-Year CAGR | +4.3% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +4.2% ▲ |
🏠 Rent Trends
| 1-Year | +13.6% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.5%). 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 82604
Population: 27,584
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 82604
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
Are there empty rentals in Casper, WY?
Vacancy in Casper, WY is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,464/mo.
Are rents high in Casper, WY?
Rents in Casper, WY run near $1,464/mo. Compared with median home prices of $326K that produces solid gross yields for typical rentals.
What is the smart move for investors in Casper, WY?
Most investors in Casper, WY run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
Are eviction rules reasonable in Casper, WY?
For rental operators, Casper, WY rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
How strong is Casper, WY for real estate investors?
Casper, WY rates 3.0/5 for investability. With median values at $326K and rents near $1,464/mo, the market offers reasonable fundamentals for rental investors.
You know 82604 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 82604 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 82604 ranks in Casper, WY
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 82604 (Casper)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 82604 (Casper, WY).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.