Casper 4plexes: Buy a Fourplex and House Hack in Casper
Casper is Wyoming's second-largest city and its 'Oil City,' set on the North Platte River beneath Casper Mountain: about 58,771 people, median household income of $70,218, and a typical home value of $310,650. Energy, Casper College, and the Rialto Theater anchor the local picture — and the value figure is the lowest in Wyoming's top three.
Casper by the Numbers
Casper counts about 58,771 residents (Census Vintage 2025), the median household earns $70,218, and the typical home value is $310,650. Because the city is below the 65,000 threshold, the income, rent, and earnings figures below are ACS 2024 5-year estimates, labeled as such in every row. Low value against a $1,009 median rent is the attraction; energy-linked employment swings are the caution.
| Population | 58,771 (Census Vintage 2025, July 1, 2025) |
|---|---|
| State capital | Cheyenne |
| Median household income | $70,218 (ACS 2024 5-year, B19013) |
| Households earning under $50,000 | 34.5% (ACS 2024 5-year, B19001) |
| Households earning $50,000–$99,999 | 32.4% (ACS 2024 5-year, B19001) |
| Households earning $100,000–$199,999 | 24.4% (ACS 2024 5-year, B19001) |
| Households earning $200,000+ | 8.7% (ACS 2024 5-year, B19001) |
| Median gross rent | $1,009 per month (ACS 2024 5-year, B25064) |
| Median earnings, all workers 16 and older | $42,551 (ACS 2024 5-year, B20017) |
| Typical home value (ZHVI, September 2026) | $310,650 |
Sources: U.S. Census Bureau, American Community Survey 2024 5-year estimates (tables B19001, B25064, B20017); Zillow Research ZHVI, September 2026.
Run the rent-to-price calculation: rent over twelve months at the median ($1,009 a month) is 3.90% of the typical home value ($310,650). That is a rough gauge of the rent-to-price relationship, not profit — costs, vacancies, and taxes all reduce what an owner keeps.
Buying a 4plex in Casper
Casper fourplexes cluster in the older neighborhoods near downtown and the river, where Fort Caspar — named for Lt. Caspar Collins, with the city's spelling tracing to a registration typo — and the Rialto Theater mark the city's history. The former Wyoming National Bank building is one of downtown's landmarks. With a typical home value of $310,650 and a median gross rent of $1,009 a month, the city-level math is the friendliest in Wyoming's set, but energy cycles mean a buyer should still demand documented rents and a real repair reserve.
Underwrite the seller's rents, the $1,009 median, and a stress case that assumes both a vacancy and a soft patch in the local job market. Casper rewards buyers who plan for the down part of the cycle, not just the up part.
Buyer Help and Loans in Casper
Get quotes from more than one lender: fourplex overlays are not uniform. Ask which Loan Types programs each lender closes for 2-4 unit owner-occupied purchases in Wyoming, and what additional requirements they impose beyond program minimums.
Pre-approval from a lender experienced with 2-4 unit owner-occupied purchases is the practical next step, with FHA, conventional, and — if eligible — VA compared on the same building. The Loan Types page lists the program facts for that comparison, including the 5% down-payment minimum that covers 2-4 unit conventional and HomeReady/Home Possible purchases.
Living in Casper
The former Wyoming National Bank building in Casper, a downtown landmark in the Oil City.
Casper favors the buyer who underwrites for a full cycle. Year one is for learning the building, the tenants, and the true costs; later years benefit if rents rise while the mortgage stays fixed. A fourplex bought on proven rents and kept in good repair can ride out the energy market's moods.