1st Advantage MortgageA DSCR loan in Gillette turns on rent versus payment. Citywide medians from the Census are $976 a month for rent, $264,500 for home value and $1,525 a year for real estate taxes.
Gillette rents, values and tenants
Two Census medians frame the Gillette rental market: gross rent of $976 a month, which is close to the Wyoming median of $992, and a home value of $264,500, which is about 15% below the Wyoming median of $309,700. A quick screen: twelve months of Gillette median rent over its median home value equals 4.4%, a thin gross ratio, which tells you purchase prices are high relative to rent. Use it to compare markets, then replace it with real rent evidence for the address.
| Indicator | Wyoming | Gillette | Difference |
|---|---|---|---|
| Tax as a share of home value | 0.57% | 0.58% | +1% |
| Annual property tax bill, median | $1,767 | $1,525 | -14% |
| Household income, median | $76,176 | $81,316 | +7% |
| Typical owner-occupied value | $309,700 | $264,500 | -15% |
| Typical monthly rent | $992 | $976 | -2% |
| Persons per household | 2.34 | 2.60 | |
| Share in 2-4 unit buildings | 6.4% | 8.8% | +37% |
| Share of homes detached | 67.8% | 50.9% | -25% |
| Long commuters, 45 min plus | 9.7% | 10.5% | +9% |
| Degree holders, age 25+ | 30.6% | 24.8% | -19% |
| Workers on their own account | 11.9% | 6.0% | -49% |
| Renters paying 30%+ of income | 43.1% | 52.6% | +22% |
| Units sitting vacant | 12.2% | 10.7% | -12% |
| Typical construction year | 1981 | 1991 | |
| Annual rent divided by value | 3.8% | 4.4% | +15% |
| Residents (Census estimate) | 582,397 | 33,431 |
Only 26.8% of occupied homes in Gillette are rented, close to the Wyoming median of 28%, so the rental pool is smaller and a vacant unit may take more marketing effort. The median household brings in $81,316 (close to the Wyoming median of $76,176), with 53% of renters paying 30 percent or more of income toward rent.
Housing mix and age in Gillette
No single type dominates Gillette. Detached houses are 51% of units, small buildings of two to four units are 9%, and larger apartment buildings fill much of the rest. The median home dates to 1991, so newer construction competes with investors and warranties and modern systems can help with insurance and repairs.
Gillette reports 11% of units vacant and a rental vacancy rate of 16.2%, a measure of how quickly a listed unit might lease.
Underwriting angles in Gillette
A 4.4% gross ratio leaves little margin in Gillette. Every dollar of insurance, tax and association dues matters, and some deals work only with lower leverage. Newer construction (median built 1991) lowers near-term repair risk, but association rules and builder-grade finishes can limit rent growth. An owner-heavy market (73% owner-occupied) means many tenants are renting by choice rather than necessity, so condition and schools matter to them.
What costs can do to a Gillette ratio
The Census reports median real estate taxes paid of $1,525 in Gillette, about 14% below the Wyoming median of $1,767. Against the median value that is an effective rate of roughly 0.58%, compared with 0.57% for Wyoming as a whole. That is about 13% of a year of median rent gone to taxes before the loan is even counted.
Campbell County carries a relatively low overall rating in FEMA's National Risk Index, where hail (relatively high), winter weather (relatively high) and wildfire (relatively moderate) rank highest.
| Hazard in Campbell County, FEMA index | Level |
|---|---|
| Cold waves exposure | Relatively Moderate |
| Wildfire exposure | Relatively Moderate |
| Winter weather exposure | Relatively High |
| Hail exposure | Relatively High |
| Social vulnerability score | Very Low |
| Annualized loss estimate | Relatively Low |
| Composite risk | Relatively Low |
Insurance belongs in the ratio from day one, so get a landlord quote for the Gillette address and ask about roof age, wind or hail deductibles and flood cover.
Running the numbers in Gillette
Try the math at the medians. With rent at $976 and taxes near $127 a month, a 1.00 DSCR leaves $849 for everything else in the payment, a 1.20 ratio leaves $686, and a 1.25 ratio leaves $654. Any real property will differ, but the exercise shows how little room insurance and dues can take.
Registration, deposits and nightly stays in Gillette
Local rental rules in Gillette are not summarized here because we could not verify them from a city source. Ask the city and Campbell County about registration, inspection and short-term rental requirements, and confirm what an HOA allows. For Gillette short-term hosts, one state-level point stands out. Wyoming taxes short-term rentals of less than 30 continuous days with state sales tax and a statewide lodging tax plus local taxes, and platforms that act as marketplace facilitators collect and remit for the reservations they handle.
A Gillette landlord must handle the deposit within 60 days after move-out under Wyoming law. For Gillette rent levels, note that No rent-increase notice requirement and no rent control provision found in W.S. 1-21-1201 to 1-21-1211 (other titles not searched).
Gillette compared with other Wyoming markets
Other Wyoming markets on this site show median values from $280,900 (Evanston) to $337,100 (Lander); Gillette is $264,500.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Lander | 33% | $1,915 | $337,100 | 7,432 | $896 |
| Evanston | 29% | $1,596 | $280,900 | 11,800 | $805 |
| Laramie | 56% | $1,864 | $319,500 | 32,234 | $925 |
| Gillette | 27% | $1,525 | $264,500 | 33,431 | $976 |
What fills Gillette rentals
Self-employed workers, incorporated or not, make up 6.0% of employed residents, a group that often has irregular tax-return income and a natural fit with rent-based qualification. Around the edges, government workers are about 17% of employment, 25% of adults hold a bachelor's degree or higher and 11% of commuters travel 45 minutes or more.
Colleges tied to Gillette include Gillette College, and campus-adjacent streets often rent to students and staff on a school-year rhythm. Gillette offers interstate access via I-90 and air service through Gillette-Campbell County Airport, details that affect commute times and how easily a distant investor can inspect a property.
Putting a Gillette file together
A good Gillette file has four pieces: rent evidence, a tax estimate, an insurance quote and cash. Preview the ratio in the calculator, then apply or talk to us.
More Wyoming markets
- All Wyoming DSCR loans
- DSCR loans in Laramie, WY
- DSCR loans in Evanston, WY
- DSCR loans in Lander, WY
- Every market we cover
References
- Census Bureau ACS 5-year 2020 to 2024 tables
- National Risk Index entry, Campbell County
- Wikipedia article, Gillette, Wyoming
- W.S. 1-21-1207, 1-21-1208, the Wyoming deposit law
- Wyoming tax source: Wyoming Excise Tax Division
Census figures are 2020 to 2024 ACS five-year estimates for Gillette and carry margins of error. Deposit and notice summaries come from RedFlagLease (CC BY 4.0) and the linked Wyoming sections. Last reviewed October 2026; the city and county have the final word on Gillette rules.
Before you make an offer
On a Gillette purchase, line up the lease, the tax estimate, the insurance quote and any association dues before the appraisal is ordered, and ask the appraiser's office what rent comparables they plan to use.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
What rent number goes into a Gillette, WY DSCR calculation?
Expect to supply a lease, or let the appraiser's rent schedule stand in for one; the Gillette median rent of $976 is context and not a substitute.
Do taxes and insurance count in the Gillette DSCR ratio?
Yes, the payment includes principal, interest, taxes, insurance and association dues. At the Gillette median rent of $976, a 1.25 ratio allows about $781 in total payment, of which roughly $127 a month goes to median taxes.
What do Gillette owners pay in real estate taxes?
The Census reports a median of $1,525 a year for Gillette owners, about 0.58% of median value against 0.57% for Wyoming. The county reassesses after a sale, so ask the tax office for an estimate on your purchase price.
Is short-term rental income allowed for a Gillette DSCR loan?
Possible where lender guidelines allow it, subject to Gillette and Campbell County rules and to the building's association. Lenders usually average a year of bookings and discount the result.
What does Wyoming law say about deposits at a Gillette rental?
Under W.S. 1-21-1207, 1-21-1208: The deposit is due back within 60 days of move-out. Check the statute and your lease before collecting.
What does FEMA say about hazard risk near Gillette?
FEMA's National Risk Index rates the county's overall natural hazard risk as relatively low. That is a county-level view, so check the FEMA flood map and an insurance quote for the exact Gillette address.
How do LLC closings work for Gillette rentals?
Not required. An LLC borrower is routine for investor programs, with entity paperwork and a guaranty. Form the company before you go under contract in Gillette.