Worland is home to the best residential real estate investment market in Wyoming.
The 82401 zip code in Worland presents the greatest opportunity for the best real estate investments among the 776 individual real estate markets in Wyoming we evaluated. We looked at property values, population trends, and six other metrics for each market. We used that data to calculate each market's InvestScore.
5 best places to invest in Wyoming
| Rank | City | InvestScore | Affordability | Property value appreciation |
|---|---|---|---|---|
| 1 | Worland | 100 | 3.8 | 51.00% |
| 2 | Torrington | 97.2 | 3.8 | 41.00% |
| 3 | Newcastle | 88.9 | 2.6 | 27.00% |
| 4 | Riverton | 76.9 | 4.2 | 40.00% |
| 5 | Casper | 59.7 | 4.1 | 33.00% |
The first step is to find a top local realtor with experience helping real estate investors find great deals.
Clever can match you with an experienced local agent who specializes in investment properties. They'll help you find a property that fits your goals and budget, then craft a winning offer so you can stop looking at houses and start building wealth.
Requesting an agent is free, and there's no obligation to move forward until you find your perfect match.
1. Worland
We've identified the 82401 zip code in Worland as Wyoming's best real estate investment market. Here's why.
🔎 Key data about Worland
| Data point | Value | Rank in state (of 776 markets) |
|---|---|---|
| Zip code | 82401 | N/A |
| InvestScore | 100 | Highest |
| Typical property value | $246,642[1] | 4th lowest |
| Five-year appreciation | 51.00%[2] | 2nd highest |
| Household income | $65,583[3] | 19th highest |
| Affordability ratio | 3.8 | 6th most affordable |
| Five-year population growth | 0.2%[4] | 11th highest |
| Unemployment rate | 1.20%[5] | lowest |
| Property taxes | $1,394[6] | 3rd lowest |
| Educational attainment | 23%[7] | 17th highest |
Worland (zip code 82401) is the best residential real estate investment market in Wyoming. It has the 2nd highest property value appreciation among markets we evaluated, with a 51.00% appreciation of the typical property over the last five years.
Worland is the 6th most affordable market among the 776 Wyoming markets we evaluated, with an affordability ratio of 3.8.
Buy your investment property with a top local realtor who specializes in helping real estate investors find great deals. Clever can connect you with investing pros at trusted brands like Keller Williams and RE/MAX.
Enter your zip code to get personalized agent matches sent straight to your inbox. Compare your options until you find the perfect fit, or walk away with no obligation. Try Clever's free service today!
2. Torrington
The 82240 zip code in Torrington is the runner-up spot for the best real estate investments in Wyoming.
🔎 Key data about Torrington
| Data point | Value | Rank in state (of 776 markets) |
|---|---|---|
| Zip code | 82240 | N/A |
| InvestScore | 97.2 | 2nd highest |
| Typical property value | $228,600[8] | 2nd lowest |
| Five-year appreciation | 41.00%[9] | 5th highest |
| Household income | $60,766[10] | 23rd highest |
| Affordability ratio | 3.8 | 7th most affordable |
| Five-year population growth | 1.3%[11] | 5th highest |
| Unemployment rate | 1.20%[12] | lowest |
| Property taxes | $1,452[13] | 4th lowest |
| Educational attainment | 23%[14] | 18th highest |
The 82240 zip code in Torrington features a typical property value of $228,600, the 2nd lowest in the state.
Property values have appreciated 41.00% over the past five years, the 5th highest increase among evaluated markets in the state. Torrington homes have an affordability ratio of 3.8, the 7th most affordable in the state.
3. Newcastle
The 82701 zip code in Newcastle comes in at No. 3 in our ranking of the best residential real estate investment markets in Wyoming.
🔎 Key data about Newcastle
| Data point | Value | Rank in state (of 776 markets) |
|---|---|---|
| Zip code | 82701 | N/A |
| InvestScore | 88.9 | 3rd highest |
| Typical property value | $232,492[15] | 3rd lowest |
| Five-year appreciation | 27.00%[16] | 19th highest |
| Household income | $90,922[17] | 4th highest |
| Affordability ratio | 2.6 | most affordable |
| Five-year population growth | 0.9%[18] | 7th highest |
| Unemployment rate | 1.20%[19] | lowest |
| Property taxes | $1,506[20] | 7th lowest |
| Educational attainment | 21%[21] | 22nd highest |
With a typical property value of $232,492, Newcastle's 82701 zip code features the 3rd lowest property values in the state.
Newcastle homes have an affordability ratio of 2.6, the most affordable among the markets we evaluated.
4. Riverton
The 82501 zip code in Riverton ranks No. 4 among Wyoming's residential real estate investment markets.
🔎 Key data about Riverton
| Data point | Value | Rank in state (of 776 markets) |
|---|---|---|
| Zip code | 82501 | N/A |
| InvestScore | 76.9 | 4th highest |
| Typical property value | $251,472[22] | 5th lowest |
| Five-year appreciation | 40.00%[23] | 8th highest |
| Household income | $60,449[24] | 8th highest |
| Affordability ratio | 4.2 | 12th most affordable |
| Five-year population growth | 2.5%[25] | 2nd highest |
| Unemployment rate | 1.20%[26] | lowest |
| Property taxes | $1,522[27] | 8th lowest |
| Educational attainment | 23%[28] | 19th highest |
Property values in Riverton's 82501 zip code have seen the 8th highest increase among evaluated markets in the state, with an appreciation of 40.00% over the past five years.
Riverton's affordability ratio of 4.2 makes it the 12th most affordable among the 776 markets we evaluated.
5. Casper
The 82601 zip code in Casper rounds out our top five residential real estate investment markets in Wyoming.
🔎 Key data about Casper
| Data point | Value | Rank in state (of 776 markets) |
|---|---|---|
| Zip code | 82601 | N/A |
| InvestScore | 59.7 | 5th highest |
| Typical property value | $277,513[29] | 7th lowest |
| Five-year appreciation | 33.00%[30] | 12th highest |
| Household income | $67,642[31] | 12th highest |
| Affordability ratio | 4.1 | 11th most affordable |
| Five-year population growth | -0.8%[32] | 18th highest |
| Unemployment rate | 3.70%[33] | 2nd lowest |
| Property taxes | $1,558[34] | 9th lowest |
| Educational attainment | 28%[35] | 13th highest |
Property values in Casper's 82601 zip code rose 33.00% over the last five years, ranking the city 12th highest among evaluated markets in Wyoming.
Casper homes have an affordability ratio of 4.1, the 11th most affordable among the markets we evaluated.
Investing in residential real estate can be one of the best passive real estate investments in Wyoming.
Residential real estate offers accessible passive income and the potential to compound your original investment.
Renting out residential units is the top way to invest in real estate. House hacking also offers a great opportunity for passive real estate investment income.
How we rank residential real estate markets in Wyoming
To determine the best real estate investments in Wyoming we evaluated 776 markets on eight metrics, and then assigned an InvestScore based on their weighted and combined rankings. Each market corresponds to a specific zip code in Wyoming.
What is InvestScore?
InvestScore is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the residential real estate investment potential of a given market. It takes into account a suite of key data points for each city.
- Typical property value: This measures the typical home value in this zip code, according to the Zillow Home Value Index. It reflects the typical value for homes in the 35th to 65th percentile range, including all homes, with the numbers smoothed and seasonally adjusted. We prefer lower property values, which indicate both more room for growth and a greater ease of purchase. We assign a weight of 20% to typical property values.
- Property value appreciation: This measures how much property values have increased in the area over the past five years, according to the Zillow Home Value Index. We prefer a higher appreciation, as it indicates better returns on housing. However, past performance isn't indicative of future results. We assign a weight of 20% to property value appreciation.
- Median household income: This is the inflation-adjusted median household income in the zip code, according to U.S. Census American Community Survey data. We prefer a higher household income, as it indicates local residents have more income to spend on housing. We assign a weight of 10% to median household income.
- Affordability ratio: This is the ratio of the typical home value to the median household income in the area. A lower ratio is better because it means more households can afford a home, which indicates higher demand. We assign a weight of 15% to the affordability ratio.
- Population growth: This is how much the area's population has grown over the past five years, according to U.S. Census estimates. Higher is better, as it indicates residents are moving into the area at a rapid clip. We assign a weight of 10% to population growth.
- Unemployment rate: This is the unemployment rate in the area, according to U.S. Census data. We prefer a lower rate, as it indicates the availability of steady employment in the area, meaning residents will find it much easier to afford homes. We assign a weight of 15% to unemployment rate.
- Property tax: This is the median real estate property tax paid in the area, according to U.S. Census estimates. We assign a weight of 10% to property tax.
- Educational attainment: This is the percentage of residents in the area that have obtained a bachelor's degree or better, according to U.S. Census estimates. We prefer a higher rate because it indicates local residents who have higher earning potential and thus should be able to afford homes. We assign a weight of 15% to educational attainment.
🚨 Disclaimer: The information contained in this article isn't intended as, and shall not be understood or constituted as, financial advice. The information in this article isn't a substitute for financial advice from an investment professional or real estate agent who is aware of the facts and circumstances of your financial situation or the specifics of any individual property.
