While inflation may be slowing, it’s definitely not getting any cheaper to rent a place in Park County.

According to new data, the average cost of renting an apartment, house or mobile home in the county rose between 5% and 6% over the past year.

The State of Wyoming’s Economic Analysis Division surveys prices in Powell, Cody and 26 other communities twice a year as part of its cost of living index. Data from the fourth quarter of 2023 was released earlier this month and it indicated Wyoming’s overall annual inflation rate sank to 3.8%. That was the smallest increase in three years. 

However, the news wasn’t quite as good when it came to housing, as costs rose 4.2% between late 2022 and late last year.

Park County had the eighth-highest cost of living among the state’s 23 counties overall, while ranking a couple slots lower on housing.

According to the Economic Analysis Division’s survey, the average two-bedroom apartment in the county rented for $800 a month last fall. That was up 5.3% from the $760 average in the fall of 2022. The average mobile home, meanwhile, went for $863, which was a 6.4% jump from the prior year.

Meanwhile, the average two- or three-bedroom home in Cody and Powell was reportedly being rented out for $1,269 — up $74, or 6.2%, from the fourth quarter of 2022.

While all of Park County’s rental costs have shot up since the onset of the COVID-19 pandemic — apartment rates are up 19% and mobile homes 11% — houses have seen the most dramatic increases.

As of late 2020, renting a house in the Powell-Cody area reportedly cost an average of $965 a month. Last fall’s price of $1,269 reflects a 31.5% jump, with the average tenants needing to come up with an additional $300 a month.

The only silver lining is that the increases appear to be slowing down. Last fall’s 6.2% jump in house rent was the smallest year-over-year increase since mid-2021.

Park County remains the priciest place to rent within the Big Horn Basin, by a long shot. For example, in neighboring Big Horn County, the state survey found the average apartment was renting for $611 a month and the average house for $864.

However, Teton County remains the true outlier in Wyoming: As of last fall, renting an average house in the Jackson area reportedly cost $3,951 a month.