Wyoming Housing Market: Home Prices, Rent and Affordability
The typical Wyoming home is worth $371,854, up 1.4% over the past year and up 25.1% over five years, 0.9% above the national $368,697 (latest release). That ranks #24 of 50 on price. A 20%-down mortgage runs $1,913 a month and takes about $95,729 of income; the median Wyoming household earns $75,532, $20,197 short.
In Cheyenne, the state's largest metro, typical rent is $1,532 a month against a $2,026 principal-and-interest payment on the typical home, so renting is $494 a month cheaper before taxes, insurance and maintenance. The market is warm: 20.1% of listings cut their price (national 26.4%), homes go pending in 58 days (national 53), and for-sale inventory is down 7.3% from a year ago.
All housing figures are the latest published numbers for August; median household income is from the Census Bureau.
Wyoming Housing by the Numbers
How much does a house cost in Wyoming? The typical home is worth $371,854, the median sale price is $369,308 and the median list price $456,667. The six figures below describe the market this month, each with the national comparison.
- Typical home
- $371,854
- #24 priciest · national $369K
- Mortgage payment
- $1,913/mo
- P&I, 20% down · national $1,897
- Income needed
- $96K
- median earns $76K (+27%)
- Rent, Cheyenne
- $1,532/mo
- +5.7% in 1 yr · national $1,948
- Price cuts
- 20.1%
- of listings · national 26.4%
- Days to pending
- 58
- national 53 · 3,341 for sale (-7.3%)
How Have Wyoming Home Prices Changed?
The typical Wyoming home value every month since 2000, with the national typical home as a dashed line. Values rose 1.4% over the past year, are up 25.1% over five years, up 58.3% over ten, and unchanged since January 2000.
- Peak
- $371,854
- This month (all-time high)
- 10-year change
- +58.3%
- national +77.9%
- Median sale price
- $369,308
- list price $456,667
- Payment, 1-yr change
- +2.2%
- Rates and prices combined
Is It Cheaper to Rent or Buy in Wyoming?
Two direct answers from the data. Rent versus buy sets typical asking rent in Cheyenne, the state's largest metro, against the mortgage payment on the typical home there, since rent indexes are published by metro rather than by state. The affordability gap is the income needed to buy the typical Wyoming home minus what the median household actually earns.
Rent vs. buy · Cheyenne, WY
Renting is $494/month cheaper
The payment excludes property tax (0.58% of value in Wyoming), insurance and maintenance, all of which push the cost of owning higher; renting builds no equity. If values kept rising at the past five years' pace (25.1%), equity would narrow that gap over a long stay.
Affordability gap · #31 of 50
The median household is $20,197 short of the income needed
A $1,913 monthly payment takes 30.4% of the median Wyoming household's income before property tax and insurance; lenders generally cap total housing costs near 28–31%.
Full budget for your household →Is Wyoming a Buyer's or a Seller's Market?
Market temperature is our label from three market signals compared with the national market: the share of listings with a price cut, days from listing to pending (days on market), and whether homes for sale are up from a year ago. Wyoming is warm: it slightly favors sellers: one of the three market signals points cooler than the national market.
Median sale price $369,308 against a median list price of $456,667, so the typical home closes 19.1% below asking.
Where the Wyoming market is heading
Compared with a year ago, all three signals point tighter, in sellers' favor: the share of listings with a price cut is down 1.0 points from a year ago to 20.1%, homes take 1 day less to go pending than a year ago (58 now), and the number of homes for sale is down 7.3%. The typical home value rose 1.4% over the same period and is at an all-time high. We publish no forecasts: these are the current-month readings, not a prediction of where Wyoming home prices go next.
Home Values and Rents in Wyoming Cities
A city-level home value or rent is available for 18 of the Wyoming cities we track. The most expensive is Jackson ($2,014,169) and the cheapest Rawlins ($202,958). Click a city for its full profile.
| City | Population | Home value | 1 yr | 5 yr | Rent | Rent 1 yr | Value ÷ income |
|---|---|---|---|---|---|---|---|
| Cheyenne | 65,239 | $392,134 | +3.5% | ||||
| Casper | 58,839 | $313,856 | +1.8% | ||||
| Gillette | 33,431 | $339,181 | -4.3% | ||||
| Laramie | 32,234 | $382,105 | -0.1% | ||||
| Rock Springs | 23,127 | $290,316 | -1.8% | ||||
| Sheridan | 19,285 | $440,819 | +0.6% | ||||
| Evanston | 11,800 | $316,451 | +3.4% | ||||
| Green River | 11,581 | $297,130 | +0.7% | ||||
| Riverton | 10,856 | $265,850 | -2.2% | ||||
| Jackson | 10,756 | $2,014,169 | +2.7% | ||||
| Cody | 10,276 | $476,920 | -4.6% | ||||
| Rawlins | 8,129 | $202,958 | +2.4% | ||||
| Lander | 7,432 | $388,382 | +1.7% | ||||
| Powell | 6,503 | $421,737 | -0.7% | ||||
| Douglas | 6,420 | $322,256 | +2.1% | ||||
| Torrington | 6,182 | $236,548 | -1.0% | ||||
| Worland | 4,794 | $265,532 | +7.6% | ||||
| Buffalo | 4,572 | $419,244 | +1.8% |
Home value and rent are city-level indexes; population and median household income are Census ACS. Cities without a published index are omitted.
All Wyoming cities ranked →How Wyoming Compares With Nearby States
The West states closest to Wyoming on price. Each card links to that state's housing page; the compare link puts the two states side by side on every category.
More on Wyoming
Wyoming dashboard
Overall rank and grade, every category score, taxes, utilities, safety, schools and all tracked cities.
What you'd keep in Wyoming
Take-home after housing, taxes, childcare, utilities and groceries for your household and income.
Who is moving to Wyoming
IRS migration data: where new residents come from, where leavers go, and what both groups earn.
Wyoming Housing Market FAQ
What is the average house price in Wyoming?
$371,854 is the typical Wyoming home value according to the latest release of the home value index, which tracks homes in the middle third of the market. The median sale price was $369,308 and the median list price $456,667. That makes Wyoming the #24 most expensive state; the national typical home is worth $368,697.
Are home prices dropping in Wyoming?
No. The typical Wyoming home value rose 1.4% over the past year and is at an all-time high. Over five years it is up 25.1% and over ten years up 58.3%. Nationally, values rose 1.2% over the year.
How have Wyoming home prices changed over the past 1, 5 and 10 years?
+1.4% over one year, +25.1% over five years and +58.3% over ten years for the typical Wyoming home value, per the latest release; the national figures are +1.2%, +20.3% and +77.9%. Since January 2000 the typical Wyoming home is unchanged. The monthly chart above shows the full series against the national line.
Will the Wyoming housing market crash?
We publish no forecasts, so this page cannot answer that; it can show the current readings and the historical worst case. Right now the typical Wyoming home value is at an all-time high after it rose 1.4% over the past year; 20.1% of listings have cut their price (national 26.4%), homes go pending in 58 days (national 53), and inventory is down 7.3% from a year ago, per Zillow Research. The largest decline in the monthly value series for Wyoming was 4.9% from April 2008 to August 2011, and values took 15 months to regain that peak.
Is it a good time to buy a house in Wyoming?
The Wyoming market is warm right now, which means it slightly favors sellers: one of the three market signals points cooler than the national market. 20.1% of listings cut their price (national 26.4%), homes go pending in 58 days (national 53), and for-sale inventory is down 7.3% from a year ago. Affordability is the constraint: buying the typical home takes $95,729 of income, $20,197 more than the median household earns. Whether the timing is right also depends on mortgage rates and how long you plan to stay.
Is Wyoming a buyer's or seller's market?
Wyoming leans toward sellers. Fewer listings are cutting prices than the national average (20.1% vs. 26.4%), homes take 58 days to go pending (national 53), and the number of homes for sale is down 7.3% from a year ago at 3K listings. One of those three signals points toward buyers.
What is the average rent in Wyoming?
In Cheyenne, Wyoming's largest metro, the typical asking rent is $1,532 a month, up 5.7% over the past year and up 29.3% over five years, per the rent index. The national typical rent is $1,948. Among Wyoming cities we track, rents range from $1,022 to $5,161 a month.
Is it cheaper to rent or buy in Wyoming?
Renting is cheaper month to month in Cheyenne, Wyoming's largest metro. Typical rent is $1,532 and the principal-and-interest payment on the typical home with 20% down is $2,026, a difference of $494 a month in favor of renting. The payment excludes property tax (0.58% of value in Wyoming), insurance and maintenance, and renting builds no equity, so the full answer depends on how long you stay.
How much income do you need to buy a house in Wyoming?
About $95,729 a year, using the standard assumptions of 20% down at current mortgage rates and a payment of no more than 30% of income. The median Wyoming household earns $75,532, so the typical household is $20,197 short. That is the #31 smallest affordability gap of the 50 states. The monthly payment of $1,913 equals 30.4% of the median household's income.
Where are homes cheapest and most expensive in Wyoming?
Among the Wyoming cities we track with a published home value, the most expensive typical home is in Jackson ($2,014,169) and the cheapest in Rawlins ($202,958). Also at the top: Cody ($476,920), Sheridan ($440,819), and Powell ($421,737). The city table above lists every tracked Wyoming city with its value, one-year change and rent.
How does Wyoming compare with nearby states?
In the West, the closest comparisons on price are Alaska ($398,663, up 5.7% in a year), Arizona ($417,990, down 1.1% in a year), and New Mexico ($318,241, up 1.7% in a year). Wyoming's typical home is $371,854, up 1.4%. On affordability, Wyoming ranks #31 of 50 versus Alaska at #24, Arizona at #33, and New Mexico at #29.
How current is the Wyoming housing data?
Every figure on this page comes from Zillow Research, which publishes state, metro and city data free each month for the prior month; the latest month shown is August. Median household income is from the Census Bureau's American Community Survey. We rebuild the page from the newest Zillow files as they are released.
Home values, rents, mortgage payments, income needed, inventory, price cuts, days to pending and sale and list prices are published by Zillow Research and shown as released, with attribution. Median household income and city populations are from the Census Bureau's American Community Survey. Home prices and housing markets in all 50 states →