Jackson, Wyoming, is experiencing a thriving short-term rental market, with high occupancy rates, significant monthly revenues, and strong demand driven by its attractive tourist destinations and limited real estate inventory.
Thriving Short-Term Rental Market in Jackson, Wyoming
The short-term rental market in Jackson, Wyoming, is experiencing a robust performance, driven by the area's natural beauty and high tourist demand. As of 2024, short-term rentals in Jackson are boasting an average daily rate of $733 and an impressive occupancy rate of 55%.
This strong performance is underscored by the area's appeal to tourists, particularly families and groups, who are drawn to the region's scenic landscapes, including Grand Teton and Yellowstone national parks. The average monthly revenue for these rentals stands at $62,797, highlighting the lucrative potential for hosts in this market.
Despite new regulations implemented in 2024 to balance residential and tourist needs, the market remains vibrant, with a growing number of listings and consistent demand throughout the year. This makes Jackson, Wyoming, an ideal location for investors and hosts looking to capitalize on the thriving short-term rental sector.
Short-Term Rental Regulations in Jackson, Wyoming for 2024
Key Requirements and Limitations
Permitting and Licensing
- Homeowners must obtain an annual Basic Use Permit (BUP) from the Town’s Planning Department and an annual business license from the Finance Department. The combined cost for these permits is approximately $750.
Rental Frequency and Duration
- Each housing unit can be rented out as a short-term rental only three times per calendar year.
- The total duration of short-term rentals per year is limited to 60 days.
Geographic Restrictions
- Short-term rentals are allowed in residential zones outside of the Town Lodging Overlay and Resort District. Properties within these areas are subject to different regulations.
Neighborhood Notifications
- Homeowners must notify their neighbors within 200 feet of the property annually about their intent to rent out their property.
Homeowners Association (HOA) Approval
- If the property is part of a Homeowners Association, the STR operator must obtain written approval from the HOA before the city will issue a BUP.
Enforcement and Penalties
- The town will rely on complaints and a new registration system for enforcement, rather than active enforcement due to staffing limitations.
- Violating these rules could result in not being issued a BUP for a minimum of five years.
Tax Compliance
- Short-term rental hosts are subject to state and local lodging taxes. They must register with the Wyoming Department of Revenue for a sales tax license, collect taxes from guests, and file regular tax returns. If using a short-term rental marketplace that collects lodging taxes, hosts may not need to register separately.
Application Process
- Applications for short-term rentals must be submitted through the Town’s new SmartGov web-based portal system.
Top Neighborhoods for Airbnb Revenue in Jackson, Wyoming
1. Jackson Town Square Area
- Appeal: This area is highly appealing due to its central location, with many attractions such as farmers markets, shops, nightlife, art galleries, and outdoor concerts within a short walking distance. Properties like Clark’s Knoll 381 and Clark’s Knoll 395, which can accommodate large groups and offer modern amenities, are particularly popular.
2. Teton Village
- Appeal: Located near the Jackson Hole Mountain Resort, Teton Village is a favorite among skiers and outdoor enthusiasts. Properties like the Iconic Teton Village Bogner Penthouse and other condos in the area offer luxurious amenities, including private decks, hot tubs, and proximity to the Moose Creek Chairlift.
3. Wilson
- Appeal: Wilson is attractive for its scenic views and convenient location between the town of Jackson and the Jackson Hole Ski Resort. Condos in this area, such as the "Absolute Heaven in the Tetons" and "Beautiful mountain condo in great location," offer quiet surroundings with wildlife viewing opportunities and easy access to skiing and other outdoor activities.
4. Downtown Jackson
- Appeal: Downtown Jackson is popular for its proximity to shops, restaurants, and the tram. Properties like the "2Bed & 2Bath 1 block from tram" offer amenities such as hot tubs, grills, and spacious living areas, making them ideal for guests who want to be close to the action.
5. The Aspens
- Appeal: Located between the village of Jackson and the Jackson Hole Ski Resort, The Aspens area is praised for its quiet and scenic surroundings filled with wildlife. Condos here are convenient for skiing and offer comfortable stays with modern amenities and beautiful outdoor scenery.
These neighborhoods are highly sought after due to their combination of central locations, access to outdoor activities, and luxurious or convenient living arrangements, making them ideal for a wide range of guests.
Creating an Inviting Airbnb in Jackson, Wyoming: Design and Furnishing Tips
1. Choose Statement Pieces Wisely
Invest in high-quality, statement pieces such as couches, coffee tables, credenzas, and dining room tables that define the space. These pieces should reflect the local aesthetic and be durable enough for frequent use.
2. Select Neutral Colors with Personal Accents
Use neutral colors as the base palette to create a welcoming and versatile space. Add personal touches and local flair through accents like artwork, rugs, and decorative items to reflect Jackson's unique style.
3. Incorporate Natural Elements
Jackson, Wyoming, is known for its natural beauty. Bring the outdoors in by incorporating natural elements such as wood, stone, and plants into your design. This can include wooden furniture, stone fireplaces, and potted plants to enhance the ambiance.
4. Focus on Comfort and Functionality
Ensure the space is both comfortable and functional. Provide amenities like full kitchens, cozy bedding, and modern appliances to make guests feel at home. Consider the specific needs of your guests, such as ski storage or laundry facilities, especially in a ski resort area.
5. Highlight Local Charm
Incorporate local decor and themes to give your Airbnb a unique and authentic feel. This could include mountain-inspired decor, vintage items, or artwork that reflects the region's culture and natural beauty.
6. Balance Budget and Quality
While it's tempting to save money by buying cheaper furniture, investing in higher-quality items can pay off in the long run. Balance your budget by splurging on key pieces and finding more affordable options for less critical items.
7. Pay Attention to Lighting and Textures
Use a mix of lighting sources to create a warm and inviting atmosphere. Combine different textures such as wood, fabric, and stone to add depth and visual interest to the space.
8. Add Personal Touches
Include personal touches like local books, maps, and guides to help guests explore the area. Small amenities such as coffee, tea, and toiletries can also make a significant difference in the guest experience.
9. Ensure Cleanliness and Maintenance
Maintain a high standard of cleanliness and ensure that all furnishings and appliances are in good working order. Regularly update and refresh the space to keep it looking its best.
10. Consider Seasonal Decor
Adjust your decor seasonally to reflect the changing environment and activities of Jackson, Wyoming. For example, add winter-themed decor during the ski season and switch to lighter, more airy decor in the summer.
Discover Jackson, Wyoming: Top Attractions and Insider Tips
Top Attractions
1. Grand Teton National Park
- A must-visit, with over 3 million visitors annually. Enjoy hiking, rock climbing, and stunning views of the Teton mountains. The park is open year-round, offering different experiences in summer and winter.
2. Teton Village
- Located 15 minutes from Jackson, this village offers a range of activities:
- Disc golf, mountain biking, trampolines, and a rock climbing wall for kids.
- Guided rock climbing tours for beginners.
- Ride the Gondola to the top (free after 5 pm) and enjoy dining at the top.
- Stargazing tours and classical music performances by the Grand Teton Music Festival.
3. National Elk Refuge
- Best visited in winter for sleigh rides to see the large elk herd.
- In summer, it's ideal for birdwatching and scenic views. Visit the Historic Miller Ranch for additional historical insight.
4. Jackson Town Square
- The heart of Jackson, featuring:
- Famous Elk Antler Arches.
- Jackson Veterans Memorial.
- Plaques to George Washington and John Colter.
- Free Town Shootout performances during summer.
- Shopping and dining options.
5. Jackson Hole Rodeo
- Experience authentic Western rodeo events, including calf roping, barrel racing, and bull riding. Opt for the "Behind the Chutes" VIP Experience for a closer look.
6. Jackson Hole Mountain Resort and Aerial Tram
- Offers a bird's-eye view of Jackson and the Snake River Valley via the Aerial Tram.
- Enjoy skiing, bungee trampoline, ropes course, and other family-friendly activities.
7. National Museum of Wildlife Art
- Features nature-inspired art, including works by Warhol and O’Keeffe.
- Interactive gallery for kids and stunning views of the National Elk Refuge.
8. Million Dollar Cowboy Bar
- An iconic bar with live country music performances and saddle seats at the bar. Recently renovated by the Silver Dollar Bar.
Insider Tips
Summer Activities
- Horseback Riding Tours: Explore beautiful landscapes on horseback.
- Whitewater Rafting on the Snake River: Experience a serene float or an exhilarating ride through Grand Teton National Park.
- Guided Wildlife Tours: Observe local wildlife, including bison and elk.
- Guided Hiking Tours: Explore thousands of miles of hiking trails with local experts.
Winter Activities
- Skiing & Snowboarding: Enjoy world-class skiing at Jackson Hole Mountain Resort, Grand Targhee, and Snow King.
- Snowmobiling Tours: Cut through fresh powder and observe local wildlife on guided tours.
- Winter Wildlife & Snowcoach Tours: Admire fauna and winter landscapes in a heated snowcoach.
- Dog Sledding Tours: Experience a guided dog sledding excursion through the backcountry.
- Sleigh Rides: Enjoy romantic sleigh rides, including one through the National Elk Refuge.
Local Events
- Town Shootout: Free performances every day but Sunday during summer at the Town Square.
- Elk Antler Auction: Held in May at the Town Square.
- Old West Days and Fourth of July Parades: Celebrate at the Town Square.
Dining and Nightlife
- Mangy Moose: Enjoy dining and drinks at the bottom of Teton Village.
- Iconic Watering Holes: Visit the Million Dollar Cowboy Bar, Silver Dollar Bar, Stagecoach Bar, and Virginian Saloon for unique dining and drinking experiences.
By sharing these attractions and insider tips, you can help your Airbnb guests make the most of their visit to Jackson, Wyoming.
Practical Tips to Run a Successful Short-Term Rental Business in Jackson, Wyoming
To operate a successful short-term rental business in Jackson, Wyoming, several practical tips can help you navigate the local regulations and enhance the guest experience.
Noise Regulations and Guest Communication
Ensure you inform your guests about the quiet hours and noise regulations enforced by the Town of Jackson. This can be included in your digital and physical house manual to avoid any potential issues with neighbors and to comply with the town's strict noise policies.
Comprehensive House Manual
Create a detailed digital and physical house manual that includes essential instructions, Wi-Fi passwords, and other important information about the property. This manual should also cover the maximum of three short-term rentals per year and the 60 total rental nights per calendar year limit to keep guests informed about the property's usage rules.
Simplified Check-in Process
Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. This not only enhances guest convenience but also reduces the administrative burden on hosts.
Clear Parking Instructions
Provide clear parking instructions accompanied by photos to help guests understand where and how to park. This is particularly important given the town's strict policies on parking and community character.
By implementing these strategies, you can ensure compliance with local regulations, improve guest satisfaction, and maintain a positive relationship with your neighbors and the community.
Here is a brief list of house cleaning, repair, and maintenance providers in Jackson, Wyoming:
White Glove Professional Cleaning Service
- Offers residential and commercial cleaning services, including window cleaning, floor cleaning, and property caretaking.
- Fully licensed and insured, with over 40 years of experience.
- Provides scheduled maintenance cleanings and emergency services.
- Contact: 307-733-3189, 1030 S Park Loop Rd, Jackson, WY 83001.
Jackson Hole Maids
- Provides residential and commercial cleaning services with a focus on detailed and careful cleaning.
- Fully bonded and insured, family-owned and operated.
- Guarantees reliable and trustworthy service.
- Contact: Jackson Hole Maids, Jackson Hole, WY.
ABF Professional Cleaning, Inc
- Offers residential, commercial, construction, and janitorial services, including window washing and snow removal.
- Locally owned, insured, and bonded, with over 20 years of experience.
- Provides one-time and recurring cleaning services.
- Contact: 307-734-9414, 1410 Gregory Ln Unit D, Jackson, WY 83001.
JH22, LLC
- Specializes in residential and commercial cleaning, as well as home improvement services.
- Uses eco-friendly products and processes.
- Provides deep cleaning, construction cleaning, and scheduled maintenance services.
- Contact: JH22, LLC, serving Jackson, Wilson, Teton Village, and Hoback.
Short-Term Rental Management Fees in Jackson, Wyoming: A Range of Services and Costs
In Jackson, Wyoming, managing short-term rentals involves a variety of fees, typically ranging from 10% to 30% of the rental revenue, depending on the level of service provided. Full-service management companies, such as those offered by GoSummer and C&C HomeServices, handle comprehensive tasks including guest communication, marketing on multiple platforms like Airbnb and Vrbo, and maintenance, which generally fall on the higher end of the fee spectrum, often starting at around 20% of the revenue.
Basic services, which might include only the essential administrative tasks, can be less expensive but still require careful management to comply with local regulations. Additional fees may apply for services such as cleaning, repairs, and design enhancements. For instance, GoSummer charges a consumables fee to cover items like linens, toiletries, and other essentials, and their management fee is calculated after deducting cleaning fees, making it more competitive.
Understanding these fee structures is crucial for property owners to maximize their revenue while ensuring compliance with Jackson's stringent short-term rental regulations.