WY Real Estate - Wyoming Homes For Sale | Zillow (2024)

FAQs

How much does an average house cost in Wyoming? ›

There have been 6,223 residential properties sold in the Wyoming real estate market over the past 12 months. As of July 2024, the median home price in WY on single-family homes is $331,969. The median single-family home value for properties over the last 12 months is $344,432.

Why is housing so expensive in Wyoming? Certain areas in Wyoming, like Jackson, are popular with both in-state and out-of-state buyers. With demand high and inventory low, housing prices in these areas outpace the prices in other parts of the state.

According to the 2019 USDA Land Values Summary, Wyoming has some of the cheapest dollar-per-acre land values in both pasture and cropland in the country. Finally, having a lot of space implies fewer inhabitants. Wyoming has the lowest population of any state in the country with less than 600,000 people.

How much land is available in Wyoming? With the median price of $135,800 an acre, Wyoming is one of the 10 cheapest states to buy property in the country. The average varies by county. The county of Park, located near the city of Jackson, is above average, owing to its excellent amenities and natural attractions.

Average Cost of Living in Wyoming: $47,832 per year

Wyoming has the lowest average cost of living among all of the Rocky Mountain states, beating out neighbors like Utah, Colorado, Idaho, and Montana.

Wyoming Tax Rates, Collections, and Burdens

Wyoming has a 0.55 percent effective property tax rate on owner-occupied housing value. Wyoming does not have an estate tax or inheritance tax. Wyoming has a 24 cents per gallon gas tax rate and a $0.60 cigarette excise tax rate.

Wyoming's homestead exemption applies to real property, including your: house and the lot or lots upon which that house is located, or. your mobile home or house trailer.

Having a mailing address, owning property or a business, or being employed in Wyoming shall not alone prove Wyoming residency or domicile. Domicile is established when the person demonstrates that he or she: Physically resides in Wyoming.

Is buying land in Wyoming a good investment? ›

Is Wyoming a Good State To Invest In Real Estate? Wyoming is one of the least taxed states in the country. There are no state income taxes, real estate taxes, gift taxes, or estate taxes, which can make it financially attractive, especially for retirees​.

The cheapest land in the United States is located in New Mexico, Arizona, Michigan, Colorado, and Texas. However, it's important to note that the price per acre of a piece of property is dependent on several factors, including location and the type of land.

Wyoming Property Taxes

While property used for mineral production (mines, quarries and so on) is assessed at 100% of its fair market value and industrial property at 11.5%, residential property is assessed at just 9.5% of its fair market value.

But in terms of the cost of a lot for sale, Hawaii tops the list with an incredible average price of $983,707. This is in comparison to the U.S. average of just $316,606. By and large, the data shows that the most expensive land in the U.S. is in coastal areas and/or the Northeast corridor, with a few exceptions.

The cost of living in Wyoming is 7% lower than the national average. Housing is 18% lower than the national average, while utilities are 13% lower. When it comes to basic necessities such as food and clothing, groceries are around 1% lower than in the rest of the country, while clothing costs 1% lower.

How much does it cost to build a 2,000 square foot home in Wyoming? It costs about $145 per square foot to build a house in Wyoming. So, you would have to spend $290,000 to build a 2,000-square-foot home in Wyoming.

The following data are the most current income statistics for Wyoming from the US Census Bureau, are in 2022 inflation adjusted dollars and are from the American Community Survey 2022 5-year estimates. Median Household Income: $72,495. Average Household Income: $94,901.