Known for its views, Wyoming offers so much more on top of Yellowstone National Park. With an overall cost of living slightly below the national average in the state’s larger cities and plenty of small-town living for the taking, Wyoming is an affordable place to call home.
There’s no shortage of wide open spaces, but there are also plenty of opportunities for work, a low crime rate and more outdoor activities than you can list off the top of your head.
If it’s time to live somewhere a bit more relaxing, with the ability to hike, ski and explore nature on a whim, Wyoming is for you. To make sure you can afford it, tally up average prices in the key areas that create a cost of living in Wyoming. It gives you a clear picture of what you can expect in everything from apartment rent to the taxes you’ll pay.
Learn more about what it costs to live in Wyoming by looking at:
Wyoming housing prices
Lacking a ton of big cities, most of the best places to live in Wyoming are a little smaller, a little more laid-back and a little less expensive. Nowhere is far from stunning views and outdoor activities, either. Picking Wyoming as the place to call home pretty much opens the door to a totally unique adventure, all without leaving the country.
Casper
With a quaint, historic downtown area and plenty of excellent fishing, Casper, once a stop on the Oregon Trail, is now Wyoming’s second-largest city. Housing prices here are 15.7 percent below the national average. It’s similar to Laramie, but Casper is seeing more growth.
Up 46 percent over last year, one-bedroom apartments in Casper average out at $1,091 per month. Two-bedroom apartments are rising more slowly in price, up only 12 percent over last year. Expect rents for these units to average out at $1,229 per month.
Home prices in Casper are only slightly more than in Laramie, as well, averaging out at $363,157.
Cheyenne
Cheyenne is Wyoming’s largest city, and with this distinction comes the state’s highest home prices. Also the state capital, Cheyenne has an Old West feel, complete with the world’s largest rodeo. It’s also a great family-oriented city with plenty of parks, museums and all-ages fun.
Though living here costs a little more, housing prices are still 7.3 percent below the national average. Apartments are still within an affordable range, as well, not really changing much over last year. One-beds, with an average monthly rent of $800, actually dropped a percent over last year, and two-beds, at an average of $880 per month, only went up by a single percent.
For those who’re thinking of buying in Cheyenne, the average home price is currently $392,483.
Laramie
Aside from the cost of living, college is on the mind of almost every Laramie resident. Home to the University of Wyoming, football is a huge pastime here. The whole town even closes down for certain games. With a high value on fun and family and the Snowy Range ski area nearby, Laramie is a great and affordable community. Housing prices are 16.6 percent below the national average.
What this means for those looking for a place to live is there are plenty of low-cost options. An average two-bedroom apartment in Laramie is $950. Not only that, but home prices are averaging out at $348,038, which isn’t too bad for those looking to buy.
Wyoming food prices
Another cost of living in Wyoming is food. Big game like elk and bison are big winners in Wyoming, along with trout fished fresh out of crystal clear water. Even though these favorite foods are local, they’re not always the cheapest thing in the store. As a result, the average Wyoming resident spends between $267 and $300 per month on groceries and has higher-than-average food prices.
- Casper is 3.2 percent above the national average
- Laramie is 3.3 percent above the national average
- Cheyenne is 8.5 percent above the national average
What this means for individual products you may have on your own grocery list varies by the city, as well. Steak in Cheyenne, for example, is around $16.34 but can get as low as $10.68 in Casper. Other items, like lettuce, cost almost the same no matter where you are. A head of lettuce is $1.78 in Casper and Laramie, but just a penny more in Cheyenne.
Food pricing also makes a difference when it comes to date night. A three-course meal for two is only $35 in Casper. It’s actually also the exact same average price in Laramie. But, you’ll pay 46 percent more in Cheyenne when the bill comes to you for $65.
Wyoming utility prices
Wyoming boasts some low utility bills when compared to other states in the country.
- Cheyenne is 19.3 percent below the national average
- Laramie is 16.6 percent below the national average
- Casper is 11.9 percent below the national average
These percentages translate to energy bills that are on the more reasonable side of your general expenses list. Cheyenne and Laramie have identical energy bill averages at $125.83 per month, while Casper is only a little higher at $141.44 per month.
Energy bills in Wyoming do get a little bit of a break thanks to the state’s capacity to produce wind power. As of 2021, 22 percent of the state’s electricity came primarily from the wind. Concentrated in the southeastern corner of Wyoming, this is where regularly blowing winds get funneled through mountain passes onto the high prairie. From there, farms capture the wind and put it to good use.
Wyoming transportation prices
Not a highly walkable state when you’re within city limits, you’ll most likely get around in Wyoming by car. All the cities on our list do have the added bonus of being bike-friendly, as well. Laramie has the highest bike score of 74, and Casper’s and Cheyenne’s scores are in the 50s.
With increased dependence on owning your own vehicle and a lack of public transportation everywhere you go, overall transportation prices in Wyoming vary by a lot.
- Casper is 16.9 percent below the national average
- Cheyenne is 8.4 percent below the national average
- Laramie is 33.3 percent above the national average
Laramie is also the only city on the list that is without a public transit system.
Casper Area Transit
Consisting of six color-coded bus lines, the Casper Area Transit system runs through Casper, Mills and Evansville. A one-way fare is $1, and monthly passes are available for $30.
No busses run on Sundays, and the purple and orange lines don’t run on Saturdays. It’s also worth noting that bus service stops on the early side, concluding at 6:30 p.m. during the week and at 3:30 p.m. on active lines on Saturday.
Cheyenne Transit Program
Fixed-route bus service is currently on hold with the Cheyenne Transit Program. Those needing a ride are able to schedule a trip using the Cheyenne Transit app. Even though this is a more unconventional system at the moment, a single-way fare is still $1.50. No passes are available.
Service runs Monday-Saturday only, ending at 7 p.m. on weekdays and 5 p.m. on Saturdays.
Wyoming healthcare prices
Healthcare prices average out a little higher than other elements composing the cost of living in Wyoming. While still close to the national average, there’s not as much difference between the cities as in other areas.
- Cheyenne is 6.1 percent below the national average
- Casper is 0.8 percent below the national average
- Laramie is 1.1 percent above the national average
Since healthcare prices include a variety of medical visits and all your prescriptions, too, it’s easier to understand how these numbers impact cost by looking at what specific services would cost.
The most expensive city to see the doctor in is Laramie, with an average visit cost of $120.66. The most expensive city to get your eyes checked in is Casper, where an average visit will cost you $178.80. For the dentist, who you should visit every six months, an average visit costs the most in Cheyenne at $110. Each city grabs the highest-priced medical visit at some point.
Wyoming goods and service prices
Although all the hiking and outdoor activities in Wyoming will keep you pretty busy, there are certain ‘extras’ you most likely include in your budget each month. These are goods and services, the non-essentials you want to have, but don’t have to have. If your budget ever became tight, these would be the items you’d start removing until you bounced back.
Thankfully, Wyoming averages for goods and services, all combined, sit on the lower end.
- Cheyenne is 7.6 percent below the national average
- Casper is 3.2 percent below the national average
- Laramie is 2.4 percent below the national average
All these cities are pretty close together, overall, but you may notice bigger price differentials when you drill down to those specific goods and services unique to your list. Here are how a few common ones to look at.
At least you’ll get a pretty consistent price when it comes to a six-pack or a burger out with friends. The other goods and services seem to run a much wider gap between the least expensive option, Cheyenne, and the most expensive, Casper. Of course, Laramie does take its top spot back when it comes to burgers and brew.
The average vet expenses may seem on the high side, but it costs a lot to take care of the smaller members of the family. This is also true when it comes to childcare. This potentially jaw-dropping expense possibly isn’t on your radar yet, but get ready. There’s often a little sticker shock attached to this particular good and service. In Laramie, for example, it’s $1,258.33 a month for a full-day, private preschool. Yikes!
Taxes in Wyoming
The cost of living in Wyoming gets even sweeter by the fact that there’s no individual income tax. Sales tax is also not that bad. The state imposes a 4 percent sales tax rate and allows localities to add up to 2 percent more.
The most you’ll pay in sales tax, in any given area, is 6 percent, which is the case in both Laramie and Cheyenne. Here, for every $1,000 you spend shopping, $60 goes right to taxes.
Casper’s local sales tax of 5 percent sits closer to the state-wide average of 5.22 percent.
How much do I need to earn to live in Wyoming?
Calculating what you need to live comfortably in Wyoming starts with being able to afford rent. It doesn’t matter what your overall cost of living is, if you can’t afford a home, you’re in trouble. Since most experts suggest you should spend no more than 30 percent on your rent, it’s easy to calculate what you can and can’t cover.
The average two-bedroom apartment in Wyoming costs $1,071 per month. That means a year of rent would be $12,852. If that’s 30 percent of your annual salary, you must make at least $42,840 to live comfortably.
This is quite possible, given that the average annual salary in Wyoming is almost $10,000 higher at $52,110.
Even with these estimates, though, it’s best to do some math with your own budget using our rent calculator.
Living in Wyoming
With a more affordable cost of living and plenty of open space, Wyoming is the place for you if you’re in need of a laid-back lifestyle. Without the bustle of highly urbanized areas, you’re free to take in all the natural beauty the state has to offer and get outside for all sorts of activities. If the peace and quiet are calling your name, it’s time to see if Wyoming fits into your budget.
The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of June 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.
Source: rent.com