Cost of Living in Wyoming

Wyoming, known as the “Equality State,” is home to wide open spaces, natural beauty, and a slower pace of life. With no state income tax and generally lower costs compared to much of the U.S., it’s often considered one of the most affordable states to live in. However, costs can vary depending on whether you live in a rural community, a college town like Laramie, or a more expensive area near Jackson Hole.

This guide explores the true cost of living in Wyoming, covering housing, utilities, groceries, transportation, healthcare, and taxes. You’ll also see which cities are the most affordable and which are surprisingly pricey.

Key Takeaways

• Wyoming’s cost-of-living index is 91 (about 9% below the U.S. average), making it one of the more affordable states.
• Housing is significantly cheaper than the national average, though costs are much higher in tourist-heavy areas like Jackson Hole.
• Utilities are generally reasonable, but heating bills can spike in winter due to Wyoming’s cold climate.
• The state has no personal income tax, which creates major savings for households, though property and sales taxes still apply.
• Rural areas and cities like Casper, Cheyenne, and Laramie are budget-friendly, while Jackson and Teton County are among the most expensive places to live in the U.S. relative to income.

What’s the Average Cost of Living in Wyoming?

The average cost of living in Wyoming is around $1,850–$2,200 per month in 2025 for a single adult, depending on location. Families of four can expect to spend between $4,500 and $5,500 per month.

As of 2024, Wyoming’s cost-of-living index is 91, meaning it’s about 9% cheaper than the U.S. average. This makes Wyoming particularly attractive for retirees, remote workers, and families seeking lower expenses while enjoying access to stunning outdoor recreation.

Here’s what contributes to the monthly average:

• Housing is much cheaper than national averages in most parts of the state, except in resort towns.
• Utilities are higher in the winter due to heating costs.
• Groceries and goods can be slightly more expensive in remote areas due to shipping.
• Healthcare costs run close to the national average, but access can be limited in rural counties.
• Transportation is reasonable, with lower gas prices than in California or the coasts, but owning a car is essential.

Housing Costs in Wyoming

Housing is generally affordable in Wyoming, but location makes all the difference.

• Cheyenne: 1-Bedroom $900–$1,200 | 3-Bedroom $1,400–$2,000 | Median Home Price $325K–$400K
• Casper: 1-Bedroom $850–$1,100 | 3-Bedroom $1,300–$1,800 | Median Home Price $300K–$350K
• Laramie: 1-Bedroom $800–$1,000 | 3-Bedroom $1,200–$1,600 | Median Home Price $275K–$325K
• Gillette / Sheridan: 1-Bedroom $850–$1,100 | 3-Bedroom $1,300–$1,900 | Median Home Price $280K–$350K

Statewide median home price: about $340,000, well below the U.S. median. Jackson Hole is a major outlier, with luxury pricing driven by tourism and limited land. Rentals are more available in college towns like Laramie, but tighter in rural areas.

Utilities and Monthly Bills

Wyoming's extreme weather patterns significantly impact utility costs, with heating bills often doubling during the coldest winter months. Rural areas face additional challenges with limited internet options and higher service fees due to infrastructure costs.

Monthly Utility Costs:

• Electricity: $85–$130
• Natural gas/heating: $120–$250 (can exceed $300 in winter)
• Water & sewer: $45–$75
• Internet: $65–$110 (limited rural options)
• Cell phone: $50–$80 per line

Most households should budget $390–$665 monthly for utilities, with winter months potentially pushing costs higher in areas that rely heavily on heating.

Related: Best temperature set heat to save money

Food and Groceries

Food costs in Wyoming reflect the state's geography, with remote areas paying premium prices due to transportation costs, while larger towns offer more competitive pricing. Most residents find grocery costs slightly above national averages, but the savings from no state income tax often offset this difference.

Monthly Grocery Costs:

• Single adult: $320–$450
• Couple: $600–$800
• Family of four: $950–$1,300

Dining Out Options:

• Fast food meal: $9–$14
• Casual dining per person: $16–$25
• Mid-range restaurant for two: $55–$90
• Fine dining experience: $120–$180

Transportation

Vehicle ownership is essential in Wyoming, as public transportation options are virtually nonexistent outside of limited city bus systems. The good news is that gas prices typically run below the national average, and the state's compact size means shorter commute times for most residents.

Annual Vehicle Expenses:

• Gasoline: $3.10–$3.70 per gallon
• Auto insurance: $1,100–$1,800
• Vehicle registration: $50–$200
• Annual inspection: $15–$25

Wyoming boasts the shortest average commute time in the nation at just 17 minutes, though harsh winter weather conditions can increase vehicle maintenance costs compared to milder climates.

Healthcare

Healthcare costs in Wyoming generally align with national averages, though rural residents may face additional expenses related to traveling to regional medical centers for specialized care. The state's small population means fewer healthcare providers, which can impact both costs and accessibility.

Healthcare Expenses:

• Individual health insurance: $350–$500/month
• Family coverage: $1,200–$1,800/month
• Doctor visit copay: $25–$50
• Specialist consultation: $200–$400

Prescription costs typically run 5-10% below the national average, providing some relief for residents managing chronic conditions or requiring ongoing medications.

Education and Childcare

Wyoming offers exceptional value in higher education, with the University of Wyoming providing quality education at a fraction of the cost found in other states. Childcare costs remain significantly below those found in coastal regions, making the state attractive for young families.

Childcare Costs:

• Infant daycare: $800–$1,100/month
• Preschool (ages 3-4): $600–$900/month
• After-school care: $150–$300/month
• Summer camps: $100–$200/week

Higher Education:

• University of Wyoming (in-state): ~$7,200 tuition plus $12,000 room/board
• Community colleges: $3,500–$4,500 annually

Tax Advantages

Wyoming's tax structure represents one of the most compelling reasons to consider living in the state. As one of only nine states without personal income tax, residents can potentially save thousands of dollars annually compared to high-tax states like California or New York.

State Tax Structure:

• Income tax: $0 (no state income tax)
• Sales tax: 4% base rate plus up to 2% local (6% maximum)
• Property tax: 0.6% effective rate (4th lowest nationally)
• Gas tax: $0.24/gallon (below national average)

Depending on income level, Wyoming residents can save $3,000–$8,000 annually compared to residents of high-tax states, money that can be redirected toward savings, investments, or quality of life improvements.

Regional Cost Variations

The cost of living in Wyoming varies dramatically by location, with luxury resort areas commanding prices that rival major metropolitan areas while smaller cities offer some of the most affordable living in the country.

Most Expensive Areas:

• Jackson/Teton County: Median homes $2.5–$4 million, rent $2,500–$5,000+
• Wilson: Ultra-luxury market, average homes $3–$6 million
• Cody: Tourist destination, 20-30% above state average

Most Affordable Cities:

• Casper: Median homes $280,000–$320,000, rent $700–$1,100
• Cheyenne: State capital, homes $300,000–$350,000
• Laramie: University town, homes $275,000–$315,000
• Gillette: Energy hub, homes $250,000–$290,000

The contrast between Jackson and smaller cities like Gillette can mean housing costs that are 10 times higher in resort areas, making location selection crucial for budget planning.

Sample Monthly Budgets

These realistic budget examples show how different lifestyles and family situations can thrive in Wyoming's affordable environment. Each budget assumes moderate spending habits and includes savings contributions.

Single Professional in Cheyenne: Housing $800, utilities $180, food $380, transportation $300, insurance $150, entertainment $200, savings $400 = $2,410 total

Young Couple in Casper: Housing $1,400, utilities $220, food $700, transportation $450, insurance $280, entertainment $350, savings $500 = $3,900 total

Family of Four in Laramie: Housing $1,800, utilities $280, food $1,100, transportation $600, insurance $450, childcare $1,200, entertainment $400, savings $600 = $6,430 total

Retiree in Sheridan: Housing $400 (taxes/maintenance), utilities $200, food $350, transportation $250, insurance $200, healthcare $400, entertainment $300 = $2,100 total

Tips for Saving Money

Smart residents take advantage of Wyoming's unique benefits while minimizing the challenges of rural living. The key is preparation and understanding where to find the best deals.

Money-Saving Strategies:

• Maximize retirement contributions to benefit from no state income tax
• Bundle utilities and services for better rates
• Shop locally in smaller towns for competitive grocery prices
• Improve home insulation to reduce winter heating costs
• Consider remote work to access urban salaries with rural costs
• Use state parks and outdoor recreation for affordable entertainment

Managing Relocation Costs in Wyoming

While Wyoming is more affordable overall, moving here can still bring its own set of costs. Renters may need to budget for deposits and utility startup fees, and homeowners moving from out of state will face appraisal, closing, and moving expenses. In colder parts of the state, newcomers often need to purchase winter essentials such as snow tires, heavy outerwear, or equipment for heating and snow removal.

Rural living can also mean longer drives, higher fuel usage, and fewer rental options, requiring larger up-front payments to secure housing. For many new residents, a small personal loan or installment loan can help manage these relocation and seasonal costs, providing flexibility while adjusting to Wyoming’s unique living expenses.

Note: The content provided in this article is for informational purposes only. Contact your financial advisor regarding your specific financial situation.