Casper Wyoming Residential Rent and Rental Statistics
The median monthly gross residential rent in Casper, WY (the Casper metro area) was $777 in 2019 according to the Census ACS survey.1 Average gross rent in Casper was $774 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Casper median and average rent data will be released in September of 2021.
Data is also available below for Casper rental vacancy rates, Casper rent as a percent of median income and the fraction of renters in Casper.
Real Gross Rent in Casper Wyoming (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Wyoming Median Gross Rent | $822 | -1.32% | -6.59% |
| Casper, WY Median Gross Rent | $777 | -10.89% | -11.60% |
Casper, WY Real Gross Rent Trends
Median gross rent for Casper peaked in real terms in 2017 at $898 and is now $121 (13.47%) lower. Average gross rent for Casper peaked in real terms in 2015 at $945 and is now $171 (18.10%) lower.
Real Gross Rent in Casper: Casper WY Median, Casper WY Average, Wyoming Median, US Median
Real Gross Rent History for Casper
| Date | US Median |
Wyoming Median |
Casper, WY Median |
Casper, WY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $822 | $777 | $774 |
| 2018 | $1,077 | $833 | $872 | $886 |
| 2017 | $1,043 | $858 | $898 | $919 |
| 2016 | $1,027 | $880 | $879 | $893 |
| 2015 | $1,017 | $865 | $861 | $945 |
| 2014 | $986 | $836 | $896 | $940 |
| 2013 | $953 | $821 | $847 | $871 |
| 2012 | $940 | $789 | $857 | $874 |
| 2011 | $941 | $820 | $875 | $910 |
| 2010 | $955 | $774 | $849 | $846 |
| 2009 | $960 | $798 | $789 | $834 |
| 2007 | $927 | $747 | $664 | $755 |
| 2005 | $910 | $671 | $628 | $644 |
Casper Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Casper Wyoming was 13.71% according to Census ACS data.
Rental Vacancy Rate in Casper Wyoming
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Wyoming | 12.85% | +0.67% | +2.02% |
| Casper, WY | — | — | — |
Trends in Casper, WY Rental Vacancy Rate
At 13.71%, Casper residential rental vacancy rate in 2017 is at the highest point since 2005, the beginning of our reporting for this series.
Rental Vacancy Rate: Casper WY, Wyoming, US
Historical Rental Vacancy Rate data for Casper
| Date | US | Wyoming | Casper, WY |
|---|---|---|---|
| 2019 | 5.97% | 12.85% | — |
| 2018 | 6.15% | 12.18% | — |
| 2017 | 6.18% | 16.11% | 13.71% |
| 2016 | 5.89% | 10.83% | 9.95% |
| 2015 | 5.85% | 9.97% | — |
| 2014 | 6.32% | 6.92% | — |
| 2013 | 6.49% | 8.15% | — |
| 2012 | 6.77% | 8.13% | — |
| 2011 | 7.40% | 9.05% | 5.85% |
| 2010 | 8.17% | 6.36% | — |
| 2009 | 8.43% | 7.03% | 7.29% |
| 2007 | 7.87% | 5.25% | 3.99% |
| 2005 | 7.74% | 3.87% | — |
Rent as a Fraction of Income
Using median household income data for Casper, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Casper, median monthly gross rent as a fraction of median household income was 14.34% in 2019 according to the ACS.
Casper Wyoming Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Wyoming | 15.17% | -0.76% | -1.66% |
| Casper, WY | 14.34% | -1.53% | -2.59% |
Trends in Casper, WY Rent as a Fraction of Income
The fraction of median Casper household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 18.48%. Since then it has fallen by 4.14% to 14.34%.
Fraction of Income towards Rent: Casper WY, Wyoming, US
Historical Data for Annual Rent as a Fraction of Income in Casper Wyoming
| Date | US | Wyoming | Casper, WY |
|---|---|---|---|
| 2019 | 20.03% | 15.17% | 14.34% |
| 2018 | 20.50% | 15.94% | 15.86% |
| 2017 | 20.13% | 16.52% | 17.26% |
| 2016 | 20.43% | 16.83% | 16.93% |
| 2015 | 20.63% | 16.24% | 18.42% |
| 2014 | 20.89% | 16.66% | 18.07% |
| 2013 | 20.78% | 15.93% | 16.45% |
| 2012 | 20.65% | 16.22% | 17.74% |
| 2011 | 20.70% | 16.17% | 18.48% |
| 2010 | 20.50% | 15.54% | 17.63% |
| 2009 | 20.12% | 15.95% | 14.78% |
| 2007 | 18.66% | 14.75% | 15.48% |
| 2005 | 18.89% | 13.95% | 12.17% |
Renter Fraction in Casper Wyoming
You can calculate the renter fraction in Casper in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Casper as a fraction of total Casper households. In 2019 27.56% of households were renters according to Census ACS data.
Casper Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Wyoming | 28.12% | -1.60% | -3.06% |
| Casper, WY | 27.56% | -1.63% | -7.43% |
Trends in the Casper, WY Renter Fraction
The Casper household renter fraction peaked in in 2015 at 37.96% and is now 10.40% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Casper WY, Wyoming, US
History of Casper Renter Fraction
| Date | US | Wyoming | Casper, WY |
|---|---|---|---|
| 2019 | 35.89% | 28.12% | 27.56% |
| 2018 | 36.05% | 29.72% | 29.19% |
| 2017 | 36.13% | 29.23% | 27.62% |
| 2016 | 36.88% | 31.18% | 34.99% |
| 2015 | 36.97% | 32.04% | 37.96% |
| 2014 | 36.90% | 33.10% | 37.06% |
| 2013 | 36.50% | 30.94% | 32.10% |
| 2012 | 36.09% | 30.95% | 31.43% |
| 2011 | 35.42% | 29.35% | 31.32% |
| 2010 | 34.65% | 30.31% | 28.41% |
| 2009 | 34.13% | 29.08% | 28.58% |
| 2007 | 32.80% | 30.74% | 33.36% |
| 2005 | 33.10% | 28.51% | 26.56% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
