82414 Wyoming ZIP Code | Cody Ranch Lifestyle Area

The specialist we match to your 82414 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

ZIP 82414 covers Cody, Wyoming — a Buffalo Bill legacy town anchored by the Buffalo Bill Center of the West, 52 miles from Yellowstone's East Gate, and the western terminus of the most dramatic Yellowstone approach drive in the country. Median prices of $350K–$750K reflect a market where ranch-lifestyle buyers, tourism-income investors, and Colorado and California wealth migration converge in a town of 10,000 that operates as a genuine western cultural center rather than a resort service community. Park County's mill levy of 0.5803 per $100 of assessed value is among the lowest in Wyoming, and Wyoming's zero income tax creates a compelling fiscal case for California buyers paying 9.3–13.3% and Colorado buyers paying 4.4%. Gross seasonal rental income of $35K–$85K per year on properties with vacation-rental positioning makes Cody one of the few Wyoming markets where tourism-income underwriting is realistic. The Jackson Hole comparison — roughly 5x Cody's median price — has made Cody a deliberate second-look destination for buyers who want Wyoming ranch lifestyle and Yellowstone access without the Teton County price compression.

What You Need to Know

Tax Mechanics. Park County's mill levy of 0.5803 per $100 of assessed value is among the lowest effective property tax rates in Wyoming, producing annual property taxes of roughly $2,030–$4,350 on the $350K–$750K price range. Wyoming's zero income tax is the defining fiscal advantage for Cody buyers — a California household earning $200K relocating to Cody saves $18,600–$26,600 annually in state income tax alone (at California's 9.3–13.3% marginal rates), which at current mortgage rates represents the carrying cost equivalent of a $400K–$550K additional mortgage. Colorado buyers at $200K income save approximately $8,800 annually. Texas buyers encounter a different calculus: no income tax advantage, but Texas effective property tax rates of 1.6–2.1% exceed Park County's rate by a factor of 3–4x, generating meaningful annual savings on $500K+ properties. The combination of Park County's low mill levy and Wyoming's zero income tax produces a total annual government cost that no neighboring state replicates.

Structural Friction. Cody's seasonal tourism economy inflates Q2–Q3 demand significantly, compressing days on market to 20–35 during peak season and creating competitive offer situations where out-of-state buyers without local representation consistently underperform. Seasonal property pricing can obscure annual income potential — a property generating $65K in Q2–Q3 vacation rental income may carry substantially higher carrying costs than the rental income appears to cover once property management (20–30%), insurance (elevated for vacation rental classification), and seasonal maintenance are accounted for. Appraisal in Park County can be delayed by the same remote appraiser pool constraints seen across rural Wyoming, with 3–4 week timelines common. Ranch and acreage properties above $600K carry additional due diligence complexity — water rights, mineral rights, and agricultural use designations require specialized title review that can extend escrow 45–75 days. Off-market activity in Cody's ranch and luxury corridor runs 25–40% of transactions, as wealth-migration buyers and sellers frequently transact through private networks before properties reach public marketing.

Timing. The April–June pre-tourist-season listing window is optimal for buyers seeking maximum selection before summer demand peaks and listing volume drops. Properties listed in April are typically available for showing without the complication of active vacation rental bookings, making inspection and due diligence timelines cleaner. Summer (July–August) brings the highest buyer traffic volume but also the most competition and the fewest motivated sellers. Q4 and winter months produce motivated seller situations — ranch and vacation properties with carrying costs see price flexibility from sellers facing a second winter without a close. Buyers targeting properties with vacation rental income should close before April to capture a full tourism season's income in their first year of ownership.

Competitive Context. Jackson Hole at 5x Cody's median price is the reference comparison that makes Cody's value case immediate — a buyer who has priced Teton County and found $2M+ for entry-level ranch lifestyle will find Cody's $500K–$750K ranch segment dramatically more accessible. Bozeman, Montana (85 miles north) carries a 40–50% premium to Cody's median and layers Montana's 6.75% income tax. Missoula and Whitefish in Montana carry similar premium-plus-income-tax calculations. Colorado's mountain ranch markets (Steamboat Springs, Glenwood Springs) sit at $700K–$1.5M for comparable ranch acreage with Colorado's income tax on top. On rental income, Cody's $35K–$85K/year gross vacation rental range is below Teton County yields but competitive with Cody's lower acquisition basis — the cap rate mathematics favor Cody for income investors who are priced out of Jackson.

The Bottom Line

Cody's $350K–$750K ranch and tourism-income market is the highest-upside Wyoming lifestyle market outside Teton County, with Park County's 0.5803 mill levy, zero state income tax, and $35K–$85K/year gross vacation rental income potential creating a multi-lever investment case. Off-market activity in Cody's ranch and luxury corridor runs 25–40% of transactions — buyers relying only on MLS listings miss the segment where Jackson Hole-level buyers are quietly deploying capital at Cody prices. A ranch-lifestyle and tourism-income specialist with documented Park County closing history is the decisive variable in accessing this market at full depth.

Begin through verified specialist matching with documented closing history in this submarket. Also see the specialist network, the Tax Bridge™ program, and verified credentials.

ZIP 82414's position within Cody's $350K-$750K median market with ranch-lifestyle and tourism-income property requires documented ZIP-level closing history. Verified through the 5% Performance Audit™ — documented closing history within 82414's submarket boundary in the trailing 12 months. One direct introduction. No competing names.

Frequently Asked Questions

What gross rental income is realistic on a Cody vacation rental property?

Gross seasonal rental income of $35K–$85K per year is achievable on well-positioned Cody properties with proximity to Yellowstone access, Buffalo Bill attractions, or ranch character. Properties in the $500K–$700K range with 3–4 bedrooms and premium presentation capture the higher end of that range during June–September peak. Net income after property management (20–30%), vacation rental insurance, and seasonal maintenance typically runs 55–65% of gross, producing $19K–$55K net annually at the range extremes.

How does Cody's investment case compare to Jackson Hole at one-fifth the price?

Jackson Hole's vacation rental income potential is higher in absolute terms — gross yields of $100K–$200K+ are achievable on Teton County properties — but the acquisition basis of $2M–$5M+ for comparable square footage compresses the cap rate to 2–4%. Cody at $500K–$700K with $40K–$65K gross rental income produces 5.7–9.3% gross yields, making the income investment mathematics significantly more favorable. Jackson Hole buyers are buying appreciation and prestige; Cody buyers are buying income yield and long-term appreciation in a market with a lower entry basis.

What due diligence is required on ranch and acreage properties in 82414?

Ranch and acreage transactions in Park County require review of water rights (surface and adjudicated), mineral rights (surface ownership does not convey subsurface rights by default in Wyoming), agricultural use tax designations (which carry recapture obligations if use changes), and any conservation easements that restrict development. These reviews add 2–4 weeks to standard escrow timelines and require title company and legal counsel familiar with Wyoming water law specifically. Buyers underestimating this complexity frequently face closing delays of 2–4 weeks beyond initial contract timelines.

Is the Cody market seasonal or does it have year-round demand?

Cody has genuine year-round residential demand anchored by its population of 10,000 and regional service economy, but the real estate market is seasonal in its listing patterns and out-of-state buyer activity. April–September dominates transaction volume. Winter months see motivated sellers, reduced competition, and occasional price concessions of 3–8% below spring asking prices. Year-round vacation rental income is not realistic — most properties generate 80–90% of gross rental income in May through September, and underwriting should reflect the seasonal income profile.

How does Park County's mill levy affect carrying cost compared to California and Colorado?

Park County's effective rate of approximately 0.5803 per $100 translates to $2,030–$4,350 annually on $350K–$750K properties — a fraction of what California's Prop 13-adjusted rates (which can exceed 1.1% on recent purchases) or Colorado's 0.6–0.8% effective rates produce. More significantly, Wyoming's zero income tax saves California buyers earning $200K approximately $18,600–$26,600 annually at California's marginal rates. The combined Park County property tax plus Wyoming zero income tax creates a total annual government cost that typically runs $20,000–$30,000 below California equivalent ownership on a $600K purchase.

Related Market Intelligence

• Cody Specialist
• Park County
• From California

Your 82414 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.