Is a Second Home in Jackson Hole Right for You?

Colby Murphy


Despite the chaotic and unpredictable national economy over the past few years, the housing market in Jackson Hole, Wyoming has continued to rise. Featuring some of America’s most sought-after nature and scenic views, taking advantage of current low-interest rates and investing in residential property in the area is a wise choice for anyone in the real estate market.     

The Jackson Hole housing market is great right now

Conventional fixed-rate thirty-year mortgages in Wyoming currently have an interest rate of just 3.375%. That’s certainly noteworthy, but even that pales in comparison to the fifteen and ten-year mortgage rates which are 2.5% and 2.375% respectively. Buying now means you’ll pay less interest on your Jackson Hole Luxury home, making it an even stronger investment.

Jackson Hole realty continues to skyrocket in value, more than doubling in less than three years. The median listing home price is $2,095,000 - over a million dollar increase from as recently as May of 2019. Not only would a second home in Jackson Hole provide you with a coveted residential property surrounded by beautiful scenery, but a great investment as the increase in value shows no sign of slowing down. 

Throughout the economic uncertainty of the last two years, the Jackson Hole housing market has continued to thrive. Imagine buying your Jackson Hole luxury home, enjoying it for the next ten or so years, and then deciding you’re ready to move on. Picture how much the home will be valued then, and the profit that you’d be able to make by selling.

Why Jackson Hole, Wyoming?

The old adage is “location, location, location” and you likely won’t find a better location to buy a luxury second home in than Jackson Hole, Wyoming. If you want your second residence to be a place where you can unwind from the stress of urban living, this town is the ideal location. 

Nestled in the northwest corner of Wyoming, Jackson Hole is surrounded by the country’s most beautiful mountains and nature. Just a short drive from Grand Teton National park, Yellowstone National park, and Shoshone National Park - just to name a few - Jackson Hole realty gives you the inside track to regularly visit these national treasures which are the envy of the world. More than 2.6 million people visit Jackson Hole every year, ensuring your Jackson Hole luxury home will only continue to increase in value.

Jackson Hole Mountain Resort, Credit: Jackson Hole Central Reservations

It’s the perfect place for the outdoorsman, giving more opportunities to get into the fresh air and enjoy the best thrill-seeking activities anywhere in the country. With winter just starting, now is the perfect time of year to explore some of the incredible alpine skiing at Jackson Hole Mountain Resort or Snow King. With flat tire biking across snow-capped mountains or even sleigh riding, Jackson Hole truly does offer unique experiences you’d be hard-pressed to find anywhere else. If you’re planning to get away for a summer vacation, Jackson Hole has much more than snow activities with rafting, hiking, camping, rock climbing, and horseback riding. One highlight, in particular, is unwinding in the tranquility of a local natural hot spring - a special experience in nature not to be missed.

For those seeking a more relaxed experience less centered around athletic activities, Jackson Hole real estate offers a great place to escape the hustle and bustle of everyday life. While a big tourist destination, Jackson Hole only has a population of just over 10,000, giving it a peaceful small-town feel to complement its luxury accommodations. 

This sustainably minded town offers great shopping in Jackson’s town square. Find everything from outdoor gear to art and jewelry crafted by local artists. Jackson Hole’s unique and rustic dining scene has something for everyone as well with seasonal cocktails to vegan waffles prepared by world-class chefs. Whether you’re an adventure seeker, someone who seeks respite from big city life, or a restaurant aficionado, a Jackson Hole luxury home is right for you. 

Benefits of renting out your Jackson Hole luxury home

Many homeowners are hesitant about investing in a second home as they don’t know how much use they’ll be able to get out of it. Some think they won’t spend enough time there to justify the expense, but recent significant changes in the tourism industry have increased the convenience of renting out your home. Apps like Airbnb have made it easy for you to turn your Jackson Hole luxury home into a form of passive income. Spend all the time you desire to enjoy nature with your family at your property, and when you’re not using it, simply rent it out. As previously stated, the Jackson Hole tourism industry is huge, and temporary stays will always be in high demand. Jackson Hole luxury homes on Airbnb are currently being rented for upwards of $300 per night.

Between the current interest rates, skyrocketing home values, and the opportunity to make money by renting out your property, this is the optimal time to buy a Jackson Hole luxury home. Jackson Hole realty looks to continue increasing in value by 16.7% year to year so they will never again be as affordable as they are right now. It’s not only an incredible place to spend your time but a solid investment. For more information on buying second homes in Jackson Hole, please don’t hesitate to reach out to trusted local agent Colby Murphy for professional guidance. 




Colby Murphy

Colby Murphy

About the Author

Born in the land of the Delta Blues, Colby Murphy grew up as a nationally ranked cyclist and avid outdoorsman. Colby's addiction for competition took his amateur cycling career through college, capturing silver at the USAC National Championship and a spot on Team USA for the 2013 UCI World Championships in Auckland, New Zealand. While attending Middle Tennessee State University, Colby volunteered coaching youth athletes in addition to interning with the D1 NFL Combine Camp in Nashville, Tennessee. It was freshman year when Colby was exposed to the magic of Jackson Hole. Instantly attracted, he began splitting his time to ski Jackson every year thereafter.

Upon publishing research in the International Journal of Exercise Science and receiving his bachelor’s degree, Colby immediately relocated to Southern California in pursuit of his professional cycling career. Once retired from competition, Colby quickly found himself as a top producing sales professional serving owners of high end luxury real estate in areas of San Diego including Rancho Santa Fe, La Jolla, and Coronado. With his affection for luxury property, history with Jackson Hole, and prior connection to Christie's International Real Estate, Colby saw a clear path and executed a move to Jackson. In his spare time, he now enjoys turning laps at Jackson Hole Mountain Resort and giving back at Jackson Hole Therapeutic Riding Association.

Colby is fortunate to have been raised around admirable examples of what drive, tenacity and resilience can yield. His father, a self-made entrepreneur, and uncle, an owner of the Christie's affiliate brokerage in San Miguel de Allende and Mexico City, both inspired Colby's ambitions from an early age.

Now, Colby has positioned himself among some of the most respected networks in the industry. He feels proud and blessed to have established relationships with multiple Christie’s affiliate owners and associates spanning multiple cities, states, and countries. Colby has also recently become a member of REALM™, the first globally collaborative real estate collective designed to empower the real estate professional by curating new relationships and matching qualified buyers based on lifestyle experiences and passions rather than search criteria.

In a market where there are as many agents as annual transactions, Colby represented clients from Australia, the UK, Mexico, and several U.S. states in his first year alone. He applies the principles and work ethic he learned through sport and his impressive circle of mentors to ensure he creates the highest value for his clients. Always elevating, always seeking excellence, his acquired values and attributes provide a successful combination that will ensure your selling or buying experience is a win.

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Colby applies the principles and work ethic he learned through sport and his impressive circle of mentors to ensure he creates the highest value for his clients.

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