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STR vs LTR Jackson, Wyoming | Teton Rental, Verified Specialist

Jackson Hole STR investment generates $80,000-$150,000 more annually than LTR on comparable properties, but Teton County's 2022 permit moratorium makes STR permit transferability the determinative due diligence question before any acquisition. Own Luxury Homes® matches investors to verified specialists with documented STR permit navigation history.

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The specialist we match to your Wyoming search documents dual-season STR yield, HOA rental pool restrictions, and local license requirements from active investor transactions — not from published platform data.

Market Intelligence

The short-term rental versus long-term rental decision in Jackson Hole carries a documented $80,000-$150,000 annual gross revenue differential on a comparable property — STR gross yields on a well-positioned 3BR Teton Village or Town of Jackson property run $180,000-$320,000/year, while long-term rental of the same property produces $36,000-$60,000/year. This is not a marginal difference; it's an investment thesis decision that determines whether a $3M Jackson property pencils as an income asset or a carrying-cost lifestyle asset. The analysis is complicated by Teton County's STR permit moratorium and the Town of Jackson's tiered licensing requirements, which create a de facto permit scarcity that makes STR-eligible properties worth materially more than identical non-STR-eligible ones.

What You Need to Know

Tax Mechanics. Wyoming's zero state income tax means STR income generated in Jackson flows entirely to federal taxation without state overlay — a 37% top federal rate versus up to 50.3% combined (federal + California) for a California-domiciled owner operating a Wyoming STR. This tax structure makes Wyoming STR investment particularly compelling for high-income buyers establishing Wyoming domicile as part of a broader tax migration strategy. Depreciation schedules on STR properties (27.5-year residential, accelerated under cost segregation studies) can generate paper losses of $80,000-$150,000 annually on a $3M property, offsetting active income for qualifying real estate professional status holders. Property taxes remain low — approximately 0.5-0.6% of assessed value — keeping carrying costs manageable relative to STR gross revenue.

Structural Friction. Teton County imposed an STR permit moratorium on unincorporated county properties in 2022, effectively freezing the number of legally operating STRs. New STR permits in the unincorporated county are no longer available — buyers seeking STR income must either purchase a property with an existing, transferable permit or limit operations to the Town of Jackson (separate jurisdiction) where a tiered licensing system applies. Permit transfer mechanics vary by property and require legal review — not all permits transfer automatically at closing, and failed transfers have cost buyers $20,000-$50,000 in lost revenue during permit re-application periods. The Town of Jackson caps STR permits by district, and waitlists for new permits in high-demand zones can exceed 18-24 months.

Specialist Note: Teton County STR permits issued before the 2022 moratorium are property-specific but not automatically deed-attached — the permit is held by the operator of record, not the property itself. In roughly 30% of STR property sales, the permit requires a new application in the buyer's name rather than a simple transfer, a process that takes 60-120 days and during which the property legally cannot operate as an STR. Buyers who close without confirming the transfer mechanism in writing risk losing the first full rental season — a $150,000-$280,000 revenue loss on a top-performing Teton Village property.

Timing. Jackson's STR revenue calendar is bimodal: peak winter (Christmas-New Year's plus February-March ski season) commands nightly rates of $1,500-$5,000+ on a 3-4BR property, and peak summer (July-August Grand Teton/Yellowstone visitation) generates comparable occupancy at $1,200-$3,500/night. The shoulder seasons (April-May, October-November) produce 40-60% lower occupancy and rates. LTR demand in Jackson is concentrated in the September-October window when seasonal workers depart and year-round residents seek housing — but LTR supply is chronically short, producing $3,000-$5,000/month for a 3BR regardless of season.

Competitive Context. Sun Valley (Blaine County, ID) offers comparable mountain STR revenue ($150,000-$250,000/year on a 3BR) at 30-40% lower acquisition cost but without Wyoming's zero income tax advantage. Steamboat Springs (Routt County, CO) has lower STR revenue ($100,000-$180,000/year) with Colorado's 4.4% state income tax and higher carrying costs. Park City (Summit County, UT) has more liberal STR permitting than Teton County but Utah's 4.85% flat income tax reduces net yield. Jackson's permit scarcity, combined with Wyoming's tax structure, produces the highest net-after-tax STR yield of any comparable Rocky Mountain market for owners establishing Wyoming domicile.

The Bottom Line

The STR-versus-LTR decision in Jackson Hole is ultimately a permit availability question before it's a revenue question — without a transferable STR permit or a Town of Jackson license, the $80,000-$150,000 annual gross revenue differential disappears. A verified Jackson investment specialist with documented STR permit due diligence history is the critical filter between a $3M income-producing asset and a $3M lifestyle carrying cost. Off-market activity in Jackson runs 25-40% of luxury transactions, and some of the best STR-eligible properties trade privately to preserve permit standing.

Begin through verified specialist matching with documented closing history in this submarket. Also see situation-specific matching, off-market homes, and verified credentials.

Jackson Hole STR permit scarcity and HOA nightly-rental restrictions create investment analysis complexity requiring brokers with documented Teton County short-term rental permit history. Verified through the 5% Performance Audit™ — documented closing history within Wyoming's submarket boundary in the trailing 12 months. One direct introduction. No competing names.

Frequently Asked Questions

Can I still get an STR permit in Teton County after the 2022 moratorium?

New STR permits in unincorporated Teton County are no longer being issued following the 2022 moratorium. Buyers seeking STR operation in the unincorporated county must purchase a property with an existing permit and confirm transferability before closing. The Town of Jackson operates under separate jurisdiction with a tiered licensing system — new permits remain available in some zones but waitlists can run 18-24 months in high-demand areas.

What is the realistic gross revenue difference between STR and LTR in Jackson?

A well-positioned 3BR property in Teton Village or central Jackson generates $180,000-$320,000 gross annually as an STR versus $36,000-$60,000 as an LTR — a differential of $120,000-$260,000. Net margins on STR after management fees (typically 25-35% in Jackson), cleaning, maintenance, and platform fees run 55-65% of gross, versus 85-92% on LTR. STR still outperforms LTR net by $80,000-$150,000 on a well-managed property.

Does Wyoming's zero income tax apply to STR income earned in Jackson?

Wyoming has no state income tax, so STR income generated in Jackson is taxed only at the federal level — 37% top marginal rate for high-income owners versus up to 50.3% combined for California-domiciled owners. Establishing Wyoming domicile as a primary residence converts this into full state-tax-free income. Cost segregation studies on $3M+ STR properties routinely produce first-year depreciation deductions of $300,000-$600,000 that offset active income for qualifying real estate professionals.

Is it possible to buy an STR property in Jackson off-market?

Off-market activity in Jackson runs 25-40% of luxury transactions, and STR-permitted properties are disproportionately represented in that channel — owners preserving permit standing often prefer discreet sales to buyers who will continue operating rather than public listings that attract scrutiny. A specialist with agent-to-agent network access to STR-permitted inventory is the primary access point for these transactions.

What happens if an STR permit doesn't transfer correctly at closing?

If the permit requires re-application rather than a simple operator-of-record transfer, the property cannot legally operate as an STR during the 60-120 day re-application window. On a top-performing Teton Village property, that represents $150,000-$280,000 in lost gross revenue for the first rental season alone. Buyers should require written permit transfer mechanics confirmation from county STR administration as a closing condition — not a verbal representation from the seller.

Related Market Intelligence

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