Park County, Wyoming | $300K-$750K

Park County's Cody Yellowstone gateway market delivers $300K–$750K residential and ranch pricing with $28,000–$55,000 in annual tourism rental income potential and Wyoming's zero income tax — saving $10,000–$30,000+ annually versus Montana or Colorado. Own Luxury Homes® matches buyers to verified specialists with documented short-term rental permit and ranch due-diligence closing history.

Meet Your Specialist

Home › Markets › Wyoming › Park County

The specialist we match to your Park County search lives and closes in this market. They know which properties never list, which builders have inventory, and which streets the data doesn't capture. That's who you get — not a referral, a practitioner.

Market Intelligence

Park County's Cody Yellowstone gateway position creates a $300K–$750K residential and ranch market where tourism-income potential generates $28,000–$55,000 per year in gross seasonal rental income on appropriately positioned properties. Wyoming's zero income tax against Montana's 6.75% top rate and Colorado's 4.4% rate produces $10,000–$30,000+ in annual tax savings for high-income migrants, driving wealth inflow from both states. Teton County's median above $1.5M has pushed price-conscious buyers eastward into Park County, creating demand from buyers who want Yellowstone proximity without Jackson Hole pricing. Short-term rental permitting adds 21–30 days to closing due diligence for income-property buyers.

What You Need to Know

Tax Mechanics. Wyoming levies no state income tax and Park County's effective property tax rate runs approximately 0.55% — annual property tax on a $500,000 Cody-area home runs roughly $2,750, compared to $5,000–$7,500 in equivalent Montana or Colorado markets when state income tax on rental income is included. For buyers operating short-term rental properties generating $40,000–$55,000 annually, Montana's 6.75% state income tax would consume $2,700–$3,700 of that income stream — Wyoming retains it entirely. The zero-tax environment is a primary driver of the CA, CO, and MT migration corridor into Park County.

Structural Friction. Short-term rental permits in Park County and the City of Cody require zoning verification, occupancy-load review, and county health department compliance, adding 21–30 days to due-diligence timelines for investment buyers. Properties within Yellowstone's 50-mile approach corridors may carry National Forest adjacency easements or wildlife-corridor covenants that restrict fencing, outbuilding placement, and short-term occupancy. Ranch properties in the $500K–$750K range require well-water testing, septic certification, and irrigation-rights verification — a 30–45 day due-diligence stack that surprises buyers accustomed to suburban transaction timelines.

Timing. Q1–Q2 listing targeting is optimal for sellers seeking to capture summer tourist-season demand, as buyers purchasing income properties want 60–90 days of pre-season due diligence before June occupancy. The Cody Stampede (July 4th rodeo) and Yellowstone summer-season peak drive inquiry volume from April through August. Fall listings target hunting-camp buyers and out-of-state wealth-migration buyers who tour during September–October shoulder season. Winter is the slowest window but produces serious qualified buyers rather than curiosity traffic.

Competitive Context. Teton County's Jackson Hole market trades at 5x Park County's median — a $1.5M–$3M+ entry point versus $300K–$750K in Cody — making Park County the accessible Yellowstone-proximate alternative for buyers priced out of Jackson. Gallatin County (Bozeman, MT) competes for the same MT migration buyer pool but adds Montana's 6.75% income tax and a higher median home price, weakening its tax-adjusted value proposition. Carbon County (Rawlins corridor) offers lower Wyoming pricing but without Park County's tourism-income infrastructure and Yellowstone gateway premium.

The Bottom Line

Park County delivers Yellowstone gateway positioning, $28,000–$55,000 annual rental income potential, and Wyoming's zero income tax at $300K–$750K — a fraction of Teton County's entry cost for comparable outdoor and tourism-income exposure. Off-market activity in Park County runs 15–25% of transactions including pre-market ranch listings and pocket listings circulated through ranch-broker networks before MLS entry. Buyers targeting income properties must resolve short-term rental permitting before closing to protect projected yield.

The Park County market connects to Teton County, Hot Springs County, and Park County Specialist.

Begin through verified specialist matching with documented closing history in this submarket. Also see find a specialist, the National Wealth Inflow Index™, the Tax Bridge™ program, off-market inventory, and verified credentials.

Park County's Cody Yellowstone gateway tourism & ranch anchor at $300K-$750K residential/ranch spans multiple cities, requiring county-level verification of submarket closing history. Verified through the 5% Performance Audit™ — documented closing history within Park County's submarket boundary in the trailing 12 months. One direct introduction. No competing names.

Frequently Asked Questions

What gross rental income can a Park County short-term rental property generate?

Properties positioned within Cody's tourism corridor or along Yellowstone's East Entrance approach typically generate $28,000–$55,000 annually in gross seasonal rental income, with peak occupancy from June through August. Income varies significantly by property type, proximity to Yellowstone, and permitted occupancy load. Buyers should verify Park County short-term rental permit eligibility before acquisition to confirm projected yield.

How does the short-term rental permitting process work in Park County?

Park County and Cody City require zoning verification, occupancy-load review, and health department compliance for short-term rentals, adding 21–30 days to due-diligence timelines. Properties in unincorporated county areas face different requirements than city-limit parcels. Buyers should engage a specialist who has navigated the specific permit pathway for their target property type before making an offer contingent on income projections.

What is the property tax rate in Park County compared to neighboring states?

Park County's effective property tax rate runs approximately 0.55%, producing annual bills of roughly $2,750 on a $500,000 home — compared to $4,500–$6,000 in equivalent Montana markets once state income tax on rental income is included. Wyoming's zero income tax means $40,000 in annual rental income is fully retained at the state level, compared to Montana where $2,700–$3,700 would go to state income tax.

Why are Teton County buyers looking at Park County?

Teton County's entry-level median has exceeded $1.5M, pricing out buyers who want Yellowstone proximity without Jackson Hole carrying costs. Park County's $300K–$750K range delivers comparable outdoor access, Yellowstone gateway positioning, and identical Wyoming tax benefits at a fraction of the cost. The 100-mile drive from Cody to Jackson is the primary lifestyle trade-off.

Is buying a ranch in the $500K–$750K range in Park County more complex than a residential purchase?

Yes — ranch purchases require well-water testing, septic certification, irrigation-rights verification, and National Forest adjacency easement review, creating a 30–45 day due-diligence stack beyond standard residential timelines. Wildlife-corridor covenants near Yellowstone's buffer zone may restrict fencing and outbuilding placement. Buyers should budget 60–75 day escrow timelines and engage a rural-land attorney alongside their real estate specialist.

Related Market Intelligence

Your Park County specialist already knows everything on this page — and the layer beneath it. When you're ready, one introduction connects you directly. No list. No callbacks. One verified practitioner.