Casper’s current Zillow measures set a straightforward screen: ZHVI typical city home value is $314,485.36 and ZORI typical observed monthly market rent is $1,362.56. Their implied gross yield is 5.20% before maintenance, management, insurance, taxes, vacancy, utilities, financing and capital work. The Zillow value equals 4.48x ACS median household income, while annual ZORI equals 23.29% of that income. Those citywide ratios frame affordability and revenue potential but do not establish a property’s achievable rent or return.
Casper has 27,746 housing units; the citywide vacancy rate is 7.86%, and renters occupy 30.17% of occupied units. Single-family homes account for 73.79% of all units, making detached stock central to the citywide supply picture. ACS reports a $260,400 median value for surveyed owner-occupied homes and $1,009 median gross rent for surveyed renter-occupied homes, including selected utilities. Those occupied-housing measures differ in concept and period from Zillow’s typical market value and observed rent and should not be averaged.
Within the city, 45.17% of renter households are rent-burdened, while large multifamily buildings represent 9.20% of all units. ACS classifies 481 vacant units as for rent, but that reason count does not measure currently investable inventory or likely lease-up. Population across the overlapping ACS vintages increased 0.67%; it is not an annual rate and may reflect boundary changes. Median household income is $70,218, poverty is 10.77%, and unemployment is 4.13%; these describe demand constraints, not causes or property-specific tenant quality.
At the county scope, Natrona County listings had a median 37 days on market and 17.92% with price reductions, useful for negotiating context but not city liquidity. The broader Casper, WY metro had job change of -0.98% and 1.9 months of supply, pairing softer labor momentum with a relatively limited sale-inventory measure; neither measures Casper alone. The national 30-year mortgage rate was 6.66%, a financing benchmark rather than a city borrowing quote.
Underwriting remains limited by citywide and wider-area aggregates, differing survey and market definitions, overlapping ACS vintages, and no property condition, expense, tax-bill, insurance, financing or rent-roll detail. Before acting, verify the target’s legal use, title and liens, inspection findings, deferred maintenance, utility responsibility, attainable rent through current comparable leases, vacancy and collection history, tenant terms, insurance quote, assessed value and tax bill, management and repair budgets, and loan terms. Recalculate net operating income, debt coverage and cash flow from those property-level inputs.