Cost of Living in Wyoming

By Kenny Zhu

(Last Updated – 03/2025)

From the boundless canyons of Yellowstone National Park to the cascading alpine vistas of Grand Teton, there’s no denying that Wyoming is one of America’s most beautiful states.

The fact that it’s one of America’s least-populated states, with just under six residents per square mile, means that it’s certainly not a bad pick if you’re looking to get away from crowds.

If you’re one of those lovers of open roads and sprawling views, Wyoming just might be the state for you. The lack of a state income tax also doesn’t hurt!

Let’s take an in-depth dive into the Wyoming cost of living.

What’s the Average Cost of Living in Wyoming?

Average Cost of Living in Wyoming: $56,941 per year

Wyoming has the second lowest cost of living index among all of the Rocky Mountain states, beating out neighbors like Utah, Colorado, and Idaho. The state ranks among the top 25 most affordable states in the nation, according to MERIC data collected in 2024.

According to the latest data from the Bureau of Economic Analysis, average personal consumption expenditures totaled $56,941 per person in Wyoming.

Breaking down the expenses provides a snapshot of what the annual cost of living in Wyoming might look like.

Here’s a breakdown of the average annual expenditures by category.

That translates to average monthly expenses of $4,745 per person.

Housing Costs in Wyoming

Median Housing Costs in Wyoming: $739 to $1,582 per month

Wyoming is sparsely populated with plenty of plains, mountains, and even desert in between. The state has just 280,121 housing units, according to data from the U.S. Census Bureau. The average home value in Wyoming is $353,826 as of February 2025, Zillow said, which falls beneath the national average home value of $357,138. However, there are outliers: Homes in the coveted Jackson Hole area can go for millions of dollars.

General costs of putting a roof over your head in Wyoming, according to the latest census data:

•  Median monthly mortgage cost: $,1691

•  Median studio rent: $747

•  Median one-bedroom rent: $739

•  Median two-bedroom rent: $922

•  Median three-bedroom rent: $1,310

•  Median four-bedroom rent: $1,369

•  Median five-bedroom or more rent: $1,582

•  Median gross rent: $1,000

As with any market, your costs will vary according to your location. Here are typical home values for Wyoming’s top cities, according to Zillow’s February 2025 data.

Utility Costs in Wyoming

Average Utility Costs in Wyoming: $351 per month

Utility costs make up a portion of your monthly expenses. Here’s a snapshot of these costs for the typical Wyomingite.

Sources: U.S. Energy Information Administration, Electric Sales, Revenue, and Average Price, 2023; Statista.com, “Average monthly residential utility costs in the United States in 2023, by state; DoxoInsights, U.S. Cable & Internet Market Size and Household Spending Report 2023; and Rentcafe.com, What Is the Average Water Bill?

Food & Beverage

Average Food & Beverage Costs in Wyoming: $408 per month

Compared with popular neighboring state Utah, Wyoming is not as cheap state when it comes to food costs. Wyoming ranked the third most expensive in the entire Rocky Mountain region, with only Colorado and Montana scoring higher on food expenses.

According to the Bureau of Economic Analysis, Wyoming’s per-capita average annual cost of food and beverages is $4,896, which comes out to around $408 per month. These costs vary widely even within the state, as high-cost areas like Laramie and Jackson can skew data upward.

The Council for Community and Economic Research ranks grocery costs in major cities across the United States. Here are the comparative grocery costs in the Rocky Mountain region for 2024, from lowest to highest.

Transportation

Average Transportation Costs in Wyoming: $11,733 to $21,833 per year

Cruising the open roads of Wyoming while listening to your favorite tunes is a thrill that can be enjoyed by anyone with a set of wheels; it will unfortunately still require you to keep one eye on the fuel gauge. Luckily, when compared with the rest of the nation, Wyoming actually has lower-than-average transportation costs.

Transportation costs in Wyoming will vary according to the size of your family. Here are estimated costs, according to MIT’s Living Wage Calculator for 2025.

Health Care

Average Health Care Costs in Wyoming: $9,050 per person, per year

Annual health care costs in Wyoming usually hover around $9,050 per person, according to the Bureau of Economic Analysis Personal Consumption Expenditures report. Individual results will vary based on personal factors such as your age, medical needs, and health insurance coverage.

It’s a good idea to purchase sufficient health insurance to help manage costs in the event of emergencies. Go to healthcare.gov to find out more about affordable health insurance in Wyoming.

Child Care

Average Child Care Costs in Wyoming: $664 to $1,248 per child, per month

Average child care costs in Wyoming will vary by location and the type of care sought. Interestingly enough, home-based family care comes in cheaper than classroom settings in Wyoming.

The Wyoming Department of Family Services is an excellent resource for parents seeking more information about child care providers or subsidies.

Here are average child care costs in Wyoming from CostofChildCare.org.

Taxes

Average Taxes in Wyoming: No income tax

Wyoming is one of nine states that do not levy individual income tax whatsoever as of 2025.

Miscellaneous Costs

What’s left after covering typical living costs like housing, utilities, and taxes? Hopefully enough money to cover some of Wyoming’s everyday pleasures. Here’s how much some popular activities and foods in the Cowboy State will set you back.

•  Admission to Yellowstone National Park: $35 for a single vehicle for 7 days

•  Admission to Grand Teton National Park: $35 for a single vehicle for 7 days

•  Bison burger: ~$21

•  A 16-oz. ribeye steak: ~$45

Most of Wyoming’s wide-open prairies can be enjoyed at no cost and usually without crowds. As mentioned, Wyoming has the fewest residents of any state in the country, with just about six people per square mile as per Census data. The nation’s 10th largest state in total area, nearly half of all of Wyoming’s land is federal public land.

While you’re in Wyoming, if meat is your thing, try its famous bison burgers and steakhouses, as they’re both a local staple.

How Much Money Do You Need to Live Comfortably in Wyoming?

If you’re still wondering “How much does it cost to live in Wyoming?,” MIT’s Living Wage Calculator provides the following statistics: The average single, childless individual working 40 hours a week for 52 weeks a year would need to make $21.14 an hour, or $43,971 a year, to earn a “living wage” in Wyoming.

The Equality State ranked 25th on MERIC’s 2024 Cost of Living list, coming in as the second-most affordable state within the Rocky Mountain region, three places behind Montana at number 22.

U.S. News & World Report’s Affordability Rankings actually place Wyoming at No. 19 in the United States, slightly weighed down by its rating for housing affordability.

What City Has the Lowest Cost of Living in the Rocky Mountain Region?

To give you a relative idea of Wyoming’s cost of living, here are the lowest-cost cities in the Rocky Mountain region, according to the Council for Community and Economic Research’s Cost of Living Index for 2024.

Casper, Wyoming

Located near Casper Mountain in east-central Wyoming, Casper is the second-largest city in the state, after Cheyenne. Formerly an oil-boom town, Casper has about 58,700 residents and is attractive, thanks to its supply of affordable housing. Of all the metropolitan areas tracked by the council, Casper has the lowest cost of living of all in the Rocky Mountain states.

Great Falls, Montana

The seat of Cascade County, Great Falls is the third-largest city by population in Montana and sits at the edge of the Rocky Mountains, with the great Missouri River running right through it. Great Falls has the second lowest cost of living of all the cities reviewed by the council in the Rocky Mountain states.

Pueblo, Colorado

Just 112 miles south of Denver, Pueblo rose to prominence as a steel city in the late 1800s. With a population of just over 111,000, Pueblo has the lowest cost of living of any city reported by the council in Colorado as well as some of the most affordable homes in the region.