1st Advantage MortgageFor Lander, WY rentals, the DSCR test compares rent to the full payment. The Census medians that frame it are $896 rent, $337,100 value and $1,915 in yearly taxes.
Market snapshot for Lander
A DSCR lender in Lander is comparing a rent against a payment, and the citywide benchmarks are a median gross rent of $896 and a median home value of $337,100. The rent figure is about 10% below the Wyoming median of $992. By the simple measure of annual rent over home value, Lander sits at 3.2%, on the low side, so the payment, not the rent, usually decides whether a file clears. Lenders do not underwrite a ratio like that, but investors use it to decide where to look first.
| Indicator | Wyoming | Lander | Difference |
|---|---|---|---|
| Households that rent | 28.2% | 33.3% | +18% |
| Tax as a share of home value | 0.57% | 0.57% | -0% |
| Household income, median | $76,176 | $74,813 | -2% |
| Typical owner-occupied value | $309,700 | $337,100 | +9% |
| Persons per household | 2.34 | 2.39 | |
| Share in 2-4 unit buildings | 6.4% | 4.0% | -37% |
| Share of homes detached | 67.8% | 65.0% | -4% |
| Long commuters, 45 min plus | 9.7% | 2.7% | -72% |
| Degree holders, age 25+ | 30.6% | 42.3% | +39% |
| Workers on their own account | 11.9% | 10.1% | -16% |
| Renters paying 30%+ of income | 43.1% | 45.2% | +5% |
| Units sitting vacant | 12.2% | 7.5% | -38% |
| Typical construction year | 1981 | 1973 | |
| Annual rent divided by value | 3.8% | 3.2% | -17% |
| Residents (Census estimate) | 582,397 | 7,432 |
The renter share is 33.3% in Lander, about 18% above the Wyoming median of 28%, a sizable rental market. Household income runs a median $74,813 (close to the Wyoming median of $76,176), while 45% of renters spend 30 percent or more of income on housing.
Housing stock and vacancy in Lander
Detached single-family homes make up 65% of the housing units in Lander, so most rentals here compete as houses, and rents follow neighborhood and school boundaries more than building type. The median structure went up in 1973, so request ages for the roof, HVAC and water heater on any rental you consider.
About 8% of Lander's housing units are vacant, and the rental vacancy rate (units for rent against rented plus for-rent units) works out to 6.5%.
Reading Lander as an investor
Yields near 3.2% make Lander a market for careful buyers. The ratio can still work, usually through a lower loan amount, a rent above the median or a property with several units. Mid-aged stock (median built 1973) means many roofs and HVAC units are near the end of their lives, so ask for installation dates. With about 33% of households renting, Lander has enough tenants to support investors without being dominated by them.
Taxes and risk in Lander
Real estate taxes are a line the rent has to cover. The median owner in Lander pays $1,915 a year (about 8% above the Wyoming median of $1,767), which is about 0.57% of the median home value. Compared with annual median rent, the tax line is about 18%.
Fremont County carries a relatively low overall rating in FEMA's National Risk Index, where lightning (relatively high), landslides (relatively moderate) and wildfire (relatively moderate) rank highest.
| Hazard in Fremont County, FEMA index | Level |
|---|---|
| Winter weather exposure | Relatively Moderate |
| Wildfire exposure | Relatively Moderate |
| Landslides exposure | Relatively Moderate |
| Lightning exposure | Relatively High |
| Social vulnerability score | Relatively Moderate |
| Annualized loss estimate | Relatively Low |
| Composite risk | Relatively Low |
Flood risk in Lander is parcel by parcel: check the address on FEMA's flood map service, because a mapped high-risk zone means required flood cover and a heavier payment.
What the Lander medians allow
Take the median rent ($896), subtract median taxes spread over twelve months ($160), and you have $736 of room at a 1.00 ratio. A lender asking for 1.25 cuts that to $557. Real quotes for the address decide the rest.
Legal checks before a Lander purchase
We have not confirmed a city-specific rental registration or nightly-stay permit program for Lander, so check with the city and with Fremont County before you buy, and look at any HOA or condominium rules that can be stricter than the city's. Guests who book by the night in Lander 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.
After move-out, the Lander owner has 60 days to return the deposit or account for deductions. Rent increases in Wyoming: 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 Lander stacks up statewide
Statewide context for Lander: median home values in the other Wyoming cities below run from $197,500 to $280,900, and Lander is $337,100.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Torrington | 36% | $1,235 | $197,500 | 6,182 | $901 |
| Evanston | 29% | $1,596 | $280,900 | 11,800 | $805 |
| Gillette | 27% | $1,525 | $264,500 | 33,431 | $976 |
| Lander | 33% | $1,915 | $337,100 | 7,432 | $896 |
Workforce and demand drivers in Lander
Self-employment accounts for 10.1% of Lander's workforce, so many local investors earn income that a standard payroll-based mortgage underwrites poorly. On the workforce side, government workers are about 36% of employment, 42% of adults hold a bachelor's degree or higher and 3% of commuters travel 45 minutes or more.
Colleges tied to Lander include Wyoming Catholic College, and campus-adjacent streets often rent to students and staff on a school-year rhythm. Transportation links include air service through Central Wyoming Regional Airport. Easy highway and air access helps both tenant commutes and remote ownership.
Taking a Lander deal to a lender
Before you offer on a Lander property, test the ratio in the calculator, then apply now or request a DSCR quote.
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- DSCR loans in Torrington, WY
- Every market we cover
Sources
- Wyoming Excise Tax Division
- U.S. Census Bureau data for Lander
- FEMA risk data used for Lander
- Wikipedia article, Lander, Wyoming
- Wyoming security deposit statute (W.S. 1-21-1207, 1-21-1208)
Census figures are 2020 to 2024 ACS five-year estimates for Lander and carry margins of error. Deposit and notice summaries come from RedFlagLease (CC BY 4.0) and the linked Wyoming sections. Last reviewed October 2026; the city and county have the final word on Lander rules.
Pre-offer checklist
Ask the seller for twelve months of utility bills and any lease on the Lander 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
Which rent counts when I finance a Lander property?
Expect to supply a lease, or let the appraiser's rent schedule stand in for one; the Lander median rent of $896 is context and not a substitute.
How is the DSCR figure built for a Lander property?
Yes, the payment includes principal, interest, taxes, insurance and association dues. At the Lander median rent of $896, a 1.25 ratio allows about $717 in total payment, of which roughly $160 a month goes to median taxes.
What does Fremont County charge in property tax, in practice?
Typical owners pay $1,915, or 0.57% of home value, with Wyoming overall at 0.57%. Do not assume the seller's bill carries over to you.
What about VRBO or Airbnb income on a Lander purchase?
Possible where lender guidelines allow it, subject to Lander and Fremont County rules and to the building's association. Lenders usually average a year of bookings and discount the result.
How much deposit can a Lander landlord collect?
Return is due within 60 days after the tenant leaves. The governing section is W.S. 1-21-1207, 1-21-1208.
How exposed is Lander to natural hazards?
FEMA's index puts the county at relatively low overall. A lender cares about the premium and any flood requirement, which are address-specific in Lander.
Can a company be the borrower on a Lander purchase?
Not required. An LLC borrower is routine for investor programs, with entity paperwork and a guaranty. Form the company before you go under contract in Lander.