While it’s become tougher to find a place to rent in Park County in recent months, state data suggests that higher demand hadn’t translated into dramatically higher rental rates by the …
While it’s become tougher to find a place to rent in Park County in recent months, state data suggests that higher demand hadn’t translated into dramatically higher rental rates by the end of the year.
Local property prices have shot up over the past year, but a survey of local landlords in the final months of 2020 found that rental rates rose far more slowly.
In a report issued this month, the State of Wyoming Economic Analysis Division said the average two-bedroom apartment went for $673 from October to December. That was an increase of 3.8% — or $25 — over the same point in 2019. Mobile homes saw a similar 3.3% increase, rising to $778.
Meanwhile, the average rent being charged for two- and three-bedroom homes in Powell and Cody stayed completely flat at $965 a month, according to the state survey.
The data indicates that Park County’s rental rates ranked toward the middle of the pack when compared to Wyoming’s 22 other counties.
Teton County remains far and away the most expensive place to find a place to rent and rates continue to jump there. On average, renters in the Jackson area are paying $2,877 a month for a house, $2,472 for an apartment and $1,420 a month for a mobile home.
Across Wyoming as a whole, the survey found landlords were charging an average of $1,133 for a house, $781 for an apartment and $768 for a mobile home.