Real Estate Investing in Casper, Wyoming (82609)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 82609 (Casper, WY)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.8% vacancy may signal weakening demand.
What’s happening in Casper, WY (82609)?
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Market Analysis: 82609 Casper
Investors eyeing 82609 need to respect the fundamentals at play. Home values of $356K come alongside slower price movement and elevated management overhead.
Distressed markets are won on execution, not on spreadsheets. ZIP 82609 clocks in at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Put differently, 82609 offers a low basis, the region around Casper has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The demographic picture in 82609 includes headwinds that any investor should price in. Income distribution skews lower than Casper averages, and tenant stability requires active management.
Strategy in 82609 is an operator game, not a passive one. From an investor standpoint, entry prices of $356K 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 82609
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $245,451 | $1,110 | 3.3% | +6.7% | $122,726 |
| 3BR | $330,395 | $1,540 | 3.4% | +6.1% | $110,132 |
| 4BR | $388,576 | $1,860 | 3.4% | +6.3% | $97,144 |
| 5BR | $518,187 | — | — | +6.7% | $103,637 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 82609 Compare?
| Metric | 82609 | Casper | Casper, WY | Wyoming |
|---|---|---|---|---|
| Home Value | $355,871 | $194,526 | N/A | $359,462 |
| 5-Year CAGR | 5.0% | 5.3% | N/A | 6.2% |
| Avg Rent | $1,518 | $1,369 | N/A | - |
| Cap Rate | 3.3% | 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 82609 (Casper, WY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $355,871 |
| Monthly Rent | $1,518 |
| Price-to-Rent | 19.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 8.3% |
📈 Home Appreciation
| 1-Year | +1.9% ▲ |
| 3-Year CAGR | +3.8% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +3.8% ▲ |
🏠 Rent Trends
| 1-Year | +3.9% ▲ |
| 3-Year CAGR | +2.3% ▲ |
| 5-Year CAGR | +5.2% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.3%). 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 82609
Population: 18,759
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 82609
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 890 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is housing expensive in Casper, WY?
Casper, WY home values average about $356K. That price point suits investors targeting rentals with $1,518/mo in monthly income.
What kind of tenants rent in Casper, WY?
Casper, WY offers a predictable renter base at the $1,518/mo rent level. Tenant turnover is reasonable for well-managed properties.
How strong is Casper, WY for real estate investors?
Casper, WY scores 3.0/5 for investability. Home values sit at $356K and rents near $1,518/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Are there empty rentals in Casper, WY?
Casper, WY sees elevated vacancy, which is reasonable relative to the broader WY rental market.
Is rental property easy to operate in Casper, WY?
The landlord environment in Casper, WY is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
You know 82609 now. You don’t know where it ranks.
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How 82609 ranks in Casper, WY
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