Best Affordable Places to Live in Wyoming in 2024

With big skies, low population density, and no individual state income tax, it’s no surprise Wyoming beckons. Still, some Wyoming cities (like Casper) are more affordable than others (like Jackson). Fortunately, we’ve combed data including housing values, rent prices, median incomes, and more to gather the best Wyoming cities for the budget-conscious — no matter your stage of life.

Best Places to Live in Wyoming

The wide-open west is welcoming for your wallet; Wyoming as a state enjoys a lower cost of living, on average, than any other state west of the Great Plains. Ready to find a place for yourself amidst the snow-capped mountains? From Wyoming’s biggest, most bustling cities — which are still moderately sized, in the scheme of things — to quaint little burgs with plenty of growth opportunity, here are the most affordable cities in Wyoming.

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Best Affordable Places to Live in Wyoming

These five Wyoming cities get the spotlight as the most affordable — and coolest — spots to call home.

1. Casper

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Although its population doesn’t quite top 60,000, Casper is Wyoming’s second-largest community — and it offers a great combination of big-city amenities with a small-town feel. With job availability in the energy and healthcare sectors, plenty of different types of people can find opportunities, and the city is home to the annual Central Wyoming Fair and Rodeo among other cultural to-dos. For outdoorsy types, there’s easy access to Casper Mountain and Alcova Reservoir, among other pursuits. Plus, it’s got one of the lowest costs of living in the state.

Population: 58,543

Median Household Income: $61,657

Cost of Living: 90.0% of U.S. average

Median Rent Price: $1,109

Home Price-to-Income Ratio: 1.05

Average Property Tax: 0.67%

Housing Affordability: With a cool market and rental prices some 45% lower than the national median, Casper’s housing is both more affordable and less competitive than in many other communities. The average home value here is $277,000, well below the national average, so many potential residents will find an accessible goal.

2. Laramie

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The University of Wyoming brings lots of culture and diversity to Laramie, along with plenty of job and educational opportunities. And given Laramie’s proximity to the Snowy Range and Vedauwoo Climbing Area, outdoorsy folks of many stripes can find something fun to do all year long. While decidedly on the smaller side, Laramie still offers a wide range of restaurants, museums, and other in-town attractions — all with the added support of a close-knit community.

Population: 32,035

Median Household Income: $45,299

Cost of Living: 92.6% of U.S. average

Median Rent Price: $1,175

Home Price-to-Income Ratio: 7.8

Average Property Tax: 0.61%

Housing Affordability: Rental prices are far lower than the national average here, though the market is warming up. The average home value, at around $350,000, is in step with the U.S. national average.

3. Cheyenne

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Wyoming’s largest city still boasts well under 100,000 people, but is home to all the big-city amenities and attractions you’d expect of the state’s capital. Residents and visitors alike can check out the Botanic Gardens and Wyoming State Museum, not to mention the career opportunities offered in its bustling downtown. Finally, both Nebraska and Colorado are near at hand whenever a change of scenery is called for.

Population: 64,610

Median Household Income: $70,705

Cost of Living: 95.0% of U.S. average

Median Rent Price: $1,375

Home Price-to-Income Ratio: 5.1

Average Property Tax: 0.69%

Housing Affordability: With rental prices about a third lower than the American median and a cool market, finding affordable housing is relatively simple in Cheyenne, especially for a capital city with plenty of cultural attractions. The average home value, at $362,000, is just a notch above that of Laramie.

4. Gillette

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Originally founded back in 1891 as a railway town, Gillette has come a long way: With a population of just over 33,000, it’s the third-largest in Wyoming behind Cheyenne and Casper. Fossil fuels are a large part of the boom — and to this day, energy remains the community’s largest industry. It’s also close at hand to natural attractions like Keyhole State Park and Devil Tower for outdoor recreation enthusiasts.

Population: 33,264

Median Household Income: $83,193

Cost of Living: 81% of U.S. average

Median Rent Price: $1,150

Home Price-to-Income Ratio: 3.8

Average Property Tax: 0.59%

Housing Affordability: Gillette offers housing affordability to buyers and renters alike — especially since its rental prices hover about 40% lower than the American median. That said, the market is heating up fast. If you’re considering buying a home, check out a home loan help center in preparation for your purchase.

5. Cody

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“National Park gateway town” and “affordable” aren’t usually words that end up in the same sentence — except in Wyoming. Though small in population, Cody packs a big punch on the cultural front, with five different museums and Old Trail Town, a re-creation of pioneer days, to visit. Plus, of course, it’s just an hour away from Yellowstone National Park, with plenty of other less-crowded-but-just-as-stunning vistas to catch along the way.

Population: 10,224

Median Household Income: $59,682

Cost of Living: 81% of U.S. average

Median Rent Price: $1,150

Home Price-to-Income Ratio: 8.0

Average Property Tax: 0.62%

Housing Affordability: With housing values a little higher than some other parts of Wyoming — probably thanks in part to its proximity to the National Park — Cody’s prices are not quite as low as those of its counterparts. But its rental prices are still quite low relative to the U.S. median, though a warming market means some competition.

Best Places to Live in Wyoming for Families

Everything’s a little different once you’ve got little ones along for the ride. Good news: There are plenty of communities in Wyoming that are welcoming to families.

1. Sheridan

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A small-town feel and affordable rents put Sheridan at the top of our list for families looking for a place to settle in Wyoming, and highly ranked public schools will also be attractive to those with children. Plus, with multiple public parks (complete with playgrounds), access to the vast wilderness of the Bighorn National Forest, and plenty of kid-friendly museums, there’s much to learn, see, and do in Sheridan — at any age.

Population: 19,235

Median Household Income: $52,104

Cost of Living: 82% of U.S. average

Median Rent Price: $1,475

Home Price-to-Income Ratio: 8.0

Average Property Tax: 0.54%

Housing Affordability: The home price-to-income ratio is high, likely tilted by some very pricey properties, including farms. But a buyer with a budget around $350,000 can certainly find a family home here. And Sheridan’s overall cost of living is 18% lower than the U.S. average, meaning there are likely plenty of other ways to cut costs. Plus, a cool market means less competition.

2. Casper

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Given its dual status as one of the most affordable and also largest cities in Wyoming, Casper shows up on our list a lot. Families appreciate the healthy job market, plethora of family-friendly activities (like the annual Rodeo), community events, and, of course, the proximity to the University of Wyoming for when the little ones grow up.

Population: 58,543

Median Household Income: $61,657

Cost of Living: 90.0% of U.S. average

Median Rent Price: $1,109

Home Price-to-Income Ratio: 1.05

Average Property Tax: 0.67%

Housing Affordability: Rental prices in Casper sit at about half the national median — which is a pretty hard figure to beat. The cool market and ultra-low home price-to-income ratio mean Casper can be an easier place to find and afford housing than many other communities — even with a big family in tow. If you’re looking to buy in Casper, make sure you understand the difference between mortgage prequalification and preapproval before you search.

3. Green River

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A small town tucked into the southwestern corner of the state only about two and a half hours’ drive from Salt Lake City, Green River is the kind of place where everybody knows your name — and as they say, it takes a village. Plus, it’s right next to the Flaming Gorge National Recreation Area, so opportunities to play outside abound.

Population: 11,535

Median Household Income: $82,173

Cost of Living: 79% of U.S. average

Median Rent Price: $750

Home Price-to-Income Ratio: 3.4

Average Property Tax: 0.64%

Housing Affordability: With a three-figure median rent price and a home price-to-income ratio of just 3.4, Green River offers relatively affordable housing to buyers and renters alike. That said, its market is getting hot, so competition may be on the rise.

4. Cody

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It’s hard to imagine a more idyllic place to grow up than within a stone’s throw of Yellowstone National Park. Plus, about a third of Cody households have children, so kids can find plenty of playmates for their outdoor explorations. Parents will appreciate the fact that the local school district, while small, is well regarded.

Population: 10,224

Median Household Income: $59,682

Cost of Living: 81% of U.S. average

Median Rent Price: $1,150

Home Price-to-Income Ratio: 8

Average Property Tax: 0.62%

Housing Affordability: Lower-than-U.S.-median rents mean this natural gem could be affordable even for those with larger families in tow. The home price-to-income ratio is relatively high compared to the rest of the state, driven in part by some very valuable large properties, but the overall cost of living remains low.

5. Evanston

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It’s not news that raising kids is expensive — so a town with a cost of living 17% less than the national average gives parents a significant leg up for footing the bill. Parks, playgrounds, and family-friendly activities give families plenty to do outside of work and school, all in a close-knit, small-town environment.

Population: 11,845

Median Household Income: $64,659

Cost of Living: 83% of U.S average

Median Rent Price: $1,050

Home Price-to-Income Ratio: 4.3

Average Property Tax: 0.61%

Housing Affordability: The median rent price in Evanston is about half of the U.S. median, which is good news for both renters and hopeful buyers who’ll need to rent while they shop around. Plus, a low home price-to-income ratio puts homeownership in reach, even for first-time homebuyers.

Best Places to Live in Wyoming for Young Adults

For young adults hoping to mingle, network, and get themselves established, Wyoming has more to offer than might initially meet the eye. Here are some of the best communities in the state for 20- and 30-somethings.