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City Report · WY

Cody

Pop. 10,276·5th most expensive in Wyoming·One of the most affordable rental markets in the US
Median rent (all units)
$1,389/mo
Year-over-Year
Stable
Month-over-Month
-2.9%
vs US Median
-$573
Falling (Monthly)
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Most AffordableMost Expensive
Cody · $1,389
More affordable than 82% of US cities · National median $1,962/mo
Affordability
23% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,389/mo, rent takes about 23% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$56,000/yr
Local median income
$72,570/yr
Based on the 30%-of-income rule using Cody's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$710
1 BR
$790
2 BR
$1,030
3 BR
$1,440
4 BR+
$1,730
Fair Market Rent (HUD)
$1,030/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,389 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$16,668/yr
At $1,389/mo median
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (down 0.0% YoY), so renters have negotiating leverage.
Based on rent-price momentum (+0.0% YoY, -2.9% MoM), not inventory.
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Demographics

Who lives here

Cody, WY is majority owner-occupied, has a large retiree population, 41% of residents hold a bachelor's degree or higher.

Population
10,276
Median income
$72,570
Median age
42.3
Renters
30.5%
Age distribution
22.4%
18.9%
22.3%
16.1%
20.3%
Under 1822.4%
18–3418.9%
35–5422.3%
55–6416.1%
65+20.3%
Gender
52.7%
47.3%
Male52.7%
Female47.3%
Race & ethnicity
89.5%
White89.5%
Hispanic5.2%
Other4.5%
Education (25+)
24.1%
32.9%
41%
No HS diploma1.9%
HS diploma24.1%
Some college32.9%
Bachelor's+41%
Housing tenure
69.5%
30.5%
Owner69.5%
Renter30.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Cody, WY has changed in 5 years

Income
$59,682 → $72,570
up 21.6%
Population
10,055 → 10,276
up 2.2%
Renter share
33.9% → 30.5%
-3.4 pts
Bachelor's+
37.4% → 41%
+3.6 pts
Median age
41 → 42.3
+1.3 yrs

Local incomes tracked alongside that move, going from a median of $59,682 in 2021 to $72,570 more recently. The population has grown by 2.2% since 2021, moving from about 10,055 residents to roughly 10,276. Renters now make up 30.5% of households, compared with 33.9% five years ago. College-educated residents now make up 41% of adults here, versus 37.4% in 2021.

Community

Discussions about Cody

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View Cody rent history (2015–2026) →
Salary vs rent

Can you afford rent in Cody on your salary?

At $1,389/mo, how Cody rent compares to typical pay (30% rule).

By apartment size

Cody rent by bedroom count

Median rent for each apartment size in Cody. Click any size for full breakdown.

Local insights

Tips for renters in Cody

About renting in Cody, WY

Last updated: August 17, 2026

The median rent in Cody is $1,389/mo as of August 2026. A studio apartment averages $710/mo while a 2-bedroom runs $1,030/mo. One-bedroom apartments average $790/mo and 3-bedroom units go for $1,440/mo.

At 23% of local median household income ($72,570/yr), Cody ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Cody an affordable city for renters?

Cody is considered very affordable for renters. At $1,389/mo, rent takes approximately 23% of the local median household income ($72,570/yr). The standard benchmark is 30%. Cody falls comfortably within that range.

How much income do you need to rent in Cody?

To keep rent at or below 30% of gross income, you would need to earn at least $56,000/year (~$27/hour full-time) to afford the median rent of $1,389/mo in Cody. The local median household income is $72,570/yr, meaning the typical Cody household meets that threshold.

Is rent going up or down in Cody?

Rent in Cody has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Cody rent compare to other cities in Wyoming?

Cody is middle-of-the-pack for Wyoming for rent, ranking #5 out of 11 tracked cities at $1,389/mo.

Which nearby cities are cheaper to rent in than Cody?

Laurel is nearby and more affordable at $1,240/mo, which is $149 less than Cody.

What percentage of Cody residents rent vs. own?

According to Census data, approximately 30.5% of Cody households are renters, while 69.5% are owner-occupied. Cody leans toward homeownership, which can mean a smaller rental inventory.

How does Cody rent compare to the national average?

Cody's median rent of $1,389/mo is $573 (29%) below the US national median of $1,962/mo. Within Wyoming, it ranks #5 out of 11 tracked cities.
Income Affordability
23%
VERY AFFORDABLE

At $1,389/mo, rent takes ~23% of Cody's median household income ($72,570/yr). The standard benchmark is 30%.

Cody 23%Benchmark 30%
State income taxNone
Run the Cody affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Cody, WY

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