1st Advantage MortgageFor Cody, WY rentals, the DSCR test compares rent to the full payment. The Census medians that frame it are $1,051 rent, $378,500 value and $2,247 in yearly taxes.
Market snapshot for Cody
Start with the two numbers every DSCR file turns on. Rent in Cody runs a median $1,051 a month (close to the Wyoming median of $992), and the median owner-occupied home is worth $378,500. The gross rent-to-value ratio for Cody works out to 3.3% (twelve months of median rent divided by median value), on the low side, so the payment, not the rent, usually decides whether a file clears. The figure combines all rental types with all owner-occupied homes, so it is a screening number and not an appraisal.
| Indicator | Wyoming | Cody | Difference |
|---|---|---|---|
| Persons per household | 2.34 | 2.12 | |
| Share in 2-4 unit buildings | 6.4% | 13.3% | +107% |
| Long commuters, 45 min plus | 9.7% | 1.7% | -82% |
| Degree holders, age 25+ | 30.6% | 41.0% | +34% |
| Workers on their own account | 11.9% | 11.8% | -1% |
| Renters paying 30%+ of income | 43.1% | 41.7% | -3% |
| Units sitting vacant | 12.2% | 8.7% | -29% |
| Typical construction year | 1981 | 1982 | |
| Annual rent divided by value | 3.8% | 3.3% | -13% |
| Households that rent | 28.2% | 30.5% | +8% |
| Tax as a share of home value | 0.57% | 0.59% | +4% |
| Annual property tax bill, median | $1,767 | $2,247 | +27% |
| Typical owner-occupied value | $309,700 | $378,500 | +22% |
| Typical monthly rent | $992 | $1,051 | +6% |
| Residents (Census estimate) | 582,397 | 10,276 |
Owners predominate in Cody (69% of households), leaving renters at 30.5%, about 8% above the Wyoming median of 28%. Median household income of $72,570 (close to the Wyoming median of $76,176) sets the ceiling for rent growth, and 42% of renters already spend 30 percent or more of income on rent.
Homes, buildings and vacancies in Cody
Detached houses are 67% of all units in Cody. That mix favors single-family rentals and makes small multifamily scarcer and, sometimes, more valuable. A median build year of 1982 puts most of the stock in its second round of big repairs, and an inspector will show what remains.
Roughly 9% of units in Cody sit vacant, and the share of rentals available for rent is 9.6% at the survey's snapshot.
What stands out in Cody
With only 3.3% gross yield, Cody buyers often rely on appreciation as part of the plan, and a lender will want the ratio to clear without it. Median build year 1982 puts the typical Cody rental in its second set of major systems. An owner-heavy market (69% owner-occupied) means many tenants are renting by choice rather than necessity, so condition and schools matter to them.
Insurance, tax and flood context for Cody
Homeowners in Cody paid a median $2,247 in real estate taxes, well above the Wyoming median of $1,767, an effective rate near 0.59% of home value against 0.57% statewide. At the median rent that tax bill takes roughly 18% of a year's rent before insurance, dues or interest.
Insurance follows risk. FEMA's National Risk Index lists Park County as relatively low overall, with avalanches (relatively high), lightning (relatively high) and landslides (relatively moderate) as the main drivers.
| Hazard in Park County, FEMA index | Level |
|---|---|
| Cold waves exposure | Relatively Moderate |
| Landslides exposure | Relatively Moderate |
| Lightning exposure | Relatively High |
| Avalanches exposure | Relatively High |
| Social vulnerability score | Relatively Low |
| Annualized loss estimate | Relatively Low |
| Composite risk | Relatively Low |
A Cody landlord policy is priced on roof, age, wiring and location, and the annual premium divided by twelve lands in the payment the lender tests.
A worked DSCR test for Cody
The quick test for Cody: rent of $1,051 divided by a 1.25 ratio allows a total payment of $841, and subtracting $187 in monthly taxes leaves $654 for the loan, insurance and dues. At 1.00 the allowance is the full $864.
Landlord and short-term rental rules in Cody
Rental registration, inspection and nightly-stay rules differ by city, and we have not verified Cody's from a municipal source. A short call to the city and Park County before you make an offer is cheap insurance. Guests who book by the night in Cody are taxed under state law as follows. Wyoming taxes short-term rentals of less than 30 continuous days with state sales tax and a statewide lodging tax plus local taxes, and platforms that act as marketplace facilitators collect and remit for the reservations they handle.
Deposits come due back within 60 days of the tenant leaving, and Cody owners should document condition at both ends of the lease. As to caps on rent in Cody: No rent-increase notice requirement and no rent control provision found in W.S. 1-21-1201 to 1-21-1211 (other titles not searched).
How Cody stacks up statewide
These are not neighboring towns, only other Wyoming markets with Census data on this site: Douglas is lowest at $267,400, Jackson highest at $1,521,900, and Cody sits at $378,500.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Laramie | 56% | $1,864 | $319,500 | 32,234 | $925 |
| Douglas | 30% | $1,483 | $267,400 | 6,420 | $841 |
| Jackson | 58% | $5,271 | $1,521,900 | 10,756 | $2,100 |
| Cody | 31% | $2,247 | $378,500 | 10,276 | $1,051 |
Workforce and demand drivers in Cody
The self-employed share of the workforce is 11.8%, and those owners tend to be exactly the buyers DSCR financing was built for. On the workforce side, government workers are about 19% of employment, 41% of adults hold a bachelor's degree or higher and 2% of commuters travel 45 minutes or more.
Transportation links include air service through Yellowstone Regional Airport. Easy highway and air access helps both tenant commutes and remote ownership.
From a Cody listing to a loan
Ready to test a Cody deal? Use the calculator for the ratio, then start your application or send us the scenario.
More Wyoming markets
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- Every market we cover
Where these facts come from
- For nightly stays in Cody: Wyoming Excise Tax Division
- Census ACS profile behind the Cody figures
- FEMA hazard ratings for Park County
- Cody overview (Wikipedia)
- Deposit statute: W.S. 1-21-1207, 1-21-1208
Numbers for Cody come from the Census Bureau's 2020 to 2024 ACS and are survey estimates. Landlord rules for Cody rest on Wyoming statutes and the CC BY 4.0 RedFlagLease dataset. Facts were checked in October 2026, and rules change.
Quick file checklist
Ask the seller for twelve months of utility bills and any lease on the Cody property, confirm who pays water, trash and lawn care, and get the insurance quote before the inspection period ends so the ratio is tested on real numbers.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
How is Cody rent documented for a DSCR loan?
Underwriters take the lease if one exists and compare it with the appraisal's rent estimate; the lower figure often governs. Cody median rent is $1,051.
How much payment fits the median Cody rent?
They count in full. A 1.25 ratio on $1,051 of rent permits a payment near $841, and median Cody taxes take about $187 of it each month.
How high are property taxes in Cody?
The median bill is $2,247, an effective rate near 0.59%. Because Park County may reassess at sale, use an estimate on the new price when you run the ratio.
Will a lender count nightly rental income at a Cody property?
Yes on programs built for it, once the use is lawful in Cody. Gather twelve months of statements or a third-party projection, and have Wyoming tax registration squared away.
What are the security deposit rules for a Wyoming landlord?
Return is due within 60 days after the tenant leaves. The governing section is W.S. 1-21-1207, 1-21-1208.
Does hazard risk affect a Cody DSCR loan?
At the county level FEMA calls overall risk relatively low. Insurance, not the index, shows up in the ratio, so price a policy for the Cody address.
Can a company be the borrower on a Cody purchase?
It is optional. Lenders will close in a properly formed LLC and generally want the members to guarantee. Ask your accountant how a WY entity would be taxed.