Wyoming has roughly ~90,000 renter-occupied units. Average DP-3 landlord premium runs $980/yr — about 25–30% above a comparable homeowners policy due to higher liability and vacancy risk. Market profile: Very small rental market; Cheyenne and Casper serve as primary markets; Jackson Hole is a high-value resort STR market unlike anywhere else in the state. Short-term rental climate: Jackson Hole is among the nation's most premium ski and outdoor recreation STR markets; Yellowstone gateway communities have seasonal STR activity.
Avg DP-3 Premium
$980/yr
Annual landlord/rental cost
Rental Units
~90,000 renter-occupied units
Renter-occupied housing
STR Climate
Jackson Hole is among the nation's most premium ski and outdoor recreation STR markets; Yellowstone gateway communities have seasonal STR activity
Jackson Hole is among the nation's most premium ski and outdoor recreation STR markets; Yellowstone gateway communities have seasonal STR activity
| Topic | Detail | Notes |
|---|---|---|
| Market profile | Very small rental market; Cheyenne and Casper serve as primary markets; Jackson Hole is a high-value resort STR market unlike anywhere else in the state | Drives coverage form selection |
| Top landlord carriers | State Farm, Farmers, Farm Bureau, Allstate, USAA | Specialized DP-3 underwriting |
| Short-term rental environment | Jackson Hole is among the nation's most premium ski and outdoor recreation STR markets; Yellowstone gateway communities have seasonal STR activity | Airbnb-specific coverage needed |
| Notable state law | Wyoming has minimal landlord-tenant regulation; no statewide rent control; very landlord-friendly courts; no state income tax | Affects landlord obligations & coverage |
DP-3 (Dwelling Fire) is the standard landlord policy form, covering the structure on an open-perils basis. Landlords also need liability coverage (often $300K–$1M) and Loss of Rents (typically 12 months). Standard homeowners policies do NOT cover rental properties.
Wyoming has the smallest rental market of any state in the continental United States, with approximately 90,000 renter-occupied units concentrated in Cheyenne (the capital), Casper (the state's largest city), and the energy-sector communities of Rock Springs and Gillette. The extreme outlier is Jackson Hole (Teton County) — one of the wealthiest counties in America and home to a world-class ski resort and Grand Teton/Yellowstone gateway community. Jackson Hole STR properties regularly command the highest nightly rates in the intermountain West, and property values there are among the highest in the nation. Wyoming has no state income tax, making it attractive to high-net-worth investors. The state's landlord-tenant law is among the most landlord-favorable in the country.
For most of Wyoming, landlord insurance is straightforward and affordable — Cheyenne and Casper single-family rentals can be insured for under $1,000 annually with a solid DP-3 policy. However, Jackson Hole operates in an entirely different insurance universe: ultra-high-value properties, wildfire risk adjacent to national forests, and extensive STR operations requiring commercial vacation rental coverage. Jackson Hole STR operators should work with specialty carriers experienced in high-value resort properties. Teton County's extreme property appreciation means replacement cost limits must be reviewed annually. Earthquake risk near the Yellowstone caldera — while statistically low probability — is occasionally considered by Jackson Hole property owners for enhanced coverage. Loss-of-rents coverage is particularly valuable for Jackson Hole properties where peak ski season income is concentrated in January through March.
A DP-3 dwelling fire policy is the standard landlord form. Unlike an HO-3, it covers the building structure and landlord-owned contents (appliances, lawn equipment) — not the tenant's personal belongings. Tenants must carry their own renters insurance. DP-3 also includes loss of rents coverage (typically 12 months) if a covered loss makes the unit uninhabitable.
Standard DP-3 policies often exclude or limit short-term rental (Airbnb/VRBO) use. Most landlord carriers either require an endorsement, a separate STR policy, or a commercial dwelling policy. Airbnb's "AirCover" host protection is NOT a substitute for your own policy — it has many exclusions and lower limits.
Wyoming has minimal landlord-tenant regulation; no statewide rent control; very landlord-friendly courts; no state income tax
💡 Wyoming Pro Tip
Most Wyoming landlords in Cheyenne or Casper pay $750–$1,200/year for DP-3 coverage — among the most affordable in the nation. Jackson Hole is a dramatic exception: high-value resort properties with STR coverage, wildfire risk, and year-round mountain weather exposure can cost $2,500–$6,000+ annually. The state's two-tier market means quoting experience varies enormously by location.
No — standard landlord policies exclude transient-occupancy rentals regardless of Wyoming's permissive regulatory environment. Jackson Hole STR operators — managing some of the nation's most expensive and revenue-generating vacation rentals — need dedicated commercial vacation rental policies. Yellowstone gateway community STR hosts in Cody, Dubois, or Gardiner (MT) similarly need specialty vacation rental coverage.
Wyoming has no state requirement for landlord insurance. Mortgage lenders require it, and lenders financing Jackson Hole properties often require higher liability limits given the property values and premium resort rental market. Wyoming's no-income-tax status attracts investors who should ensure their insurance program matches the sophistication of their investment portfolio.
Rental unit counts from US Census American Community Survey; premium averages from 2026 carrier rate filings for Wyoming. Verify your specific property's coverage with a licensed agent.
Sarah Mitchell
Editorial Lead, Property & Casualty
This article was researched and written by the Cover Forge USA editorial team against federal sources (NAIC, CMS, FEMA, DOL, SSA, state DOIs) and standard policy forms. Bylines organize content by topic — they do not assert individual licensure. See our editorial-policy for details.
Reviewed May 2026
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