Department of Numbers

Casper Wyoming Residential Rent and Rental Statistics

The median monthly gross residential rent in Casper, WY (the Casper metro area) was $839 in 2016 according to the Census ACS survey.1 Average gross rent in Casper was $853 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Casper median and average rent data will be released in September of 2018.

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.

Show dollars as: Nominal Real

Real Gross Rent in Casper Wyoming (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Wyoming Median Gross Rent $840 +1.69% +7.14%
Casper, WY Median Gross Rent $839 +1.94% +3.71%

Casper, WY Real Gross Rent Trends

Median gross rent for Casper peaked in real terms in 2014 at $856 and is now $17 (1.99%) lower. Average gross rent for Casper peaked in real terms in 2015 at $903 and is now $50 (5.54%) lower.

Real Gross Rent in Casper: Casper WY Median, Casper WY Average, Wyoming Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Casper

Date US
Median
Wyoming
Median
Casper, WY
Median
Casper, WY
Average
2016 $981 $840 $839 $853
2015 $972 $826 $823 $903
2014 $942 $799 $856 $897
2013 $910 $784 $809 $832
2012 $898 $754 $819 $835
2011 $898 $783 $835 $870
2010 $912 $740 $811 $808
2009 $916 $762 $753 $797
2008 $932 $719 $758 $880
2007 $885 $714 $634 $721
2006 $895 $705 $654 $682
2005 $869 $641 $599 $615

Casper Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Casper Wyoming was 9.95% according to Census ACS data.

Rental Vacancy Rate in Casper Wyoming

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Wyoming 10.83% +0.86% +2.68%
Casper, WY 9.95%

Trends in Casper, WY Rental Vacancy Rate

At 9.95%, Casper residential rental vacancy rate in 2016 is at the highest point since 2005, the beginning of our reporting for this series.

Rental Vacancy Rate: Casper WY, Wyoming, US

Rental vacancy rate in Wyoming

Historical Rental Vacancy Rate data for Casper

Date US Wyoming Casper, WY
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%
2008 7.86% 8.05%
2007 7.87% 5.25% 3.99%
2006 7.70% 6.09%
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 16.93% in 2016 according to the ACS.

Casper Wyoming Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Wyoming 16.83% +0.59% +0.90%
Casper, WY 16.93% -1.50% +0.47%

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 1.55% to 16.93%.

Fraction of Income towards Rent: Casper WY, Wyoming, US

Percent of median household income going towards median monthly gross rent in Casper Wyoming

Historical Data for Annual Rent as a Fraction of Income in Casper Wyoming

Date US Wyoming Casper, WY
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%
2008 19.00% 14.34% 15.84%
2007 18.66% 14.75% 15.48%
2006 18.90% 15.21% 14.61%
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 2016 34.99% of households were renters according to Census ACS data.

Casper Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Wyoming 31.18% -0.86% +0.24%
Casper, WY 34.99% -2.97% +2.89%

Trends in the Casper, WY Renter Fraction

The Casper household renter fraction peaked in in 2015 at 37.96% and is now 2.97% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Casper WY, Wyoming, US

Fraction of renters in Casper

History of Casper Renter Fraction

Date US Wyoming Casper, WY
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%
2008 33.36% 29.91% 29.82%
2007 32.80% 30.74% 33.36%
2006 32.73% 30.48% 27.75%
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.