The same family has owned Hoback River Homestead since staking the original claim in 1888, and in 138 years, they've never once put it on the market. The ranch spans 2,062 acres in Bondurant, Wyoming, accounting for roughly a fifth of all private land in the Bondurant Valley. Two miles of frontage run along both sides of the Hoback River, a native cutthroat trout fishery that flows through the property in a wide, braided channel. Bridger-Teton National Forest borders the ranch for six miles across three sides, opening onto millions of acres of public wilderness beyond the fence line. It's a ranch defined less by what's been built on it than by how little has changed.