Wyoming Cost of Living Comparison

Wyoming: low prices, the highest real income of any state, no income tax

Wyoming's real per capita personal income, which adjusts for its prices, is $75,501, rank 2 of 51 and 27.5% above the U.S. figure of $59,195. The median household income, $76,176, ranks only 30th, so the per-person average and the typical household tell different stories; both are true, and a newcomer's own pay is what counts.

Monthly costs are low. The two-bedroom gross-rent median of $961 ranks 46th, and renters spend 27.0% of income on gross rent, one of the lightest burdens anywhere. Rents (71.127), goods (95.368) and utilities (78.422) all rank between tenth- and 12th-lowest; other services (100.428) are the one category at the national level. The median home value of $309,700 ranks 25th.

Census records no state individual or corporate income tax in Wyoming. The state government's fiscal 2025 collections, $4,363 per resident (rank 23), came from general sales (38.7%), severance taxes on mineral production (27.7%, or $1,209 per resident) and the state's own property tax (15.3%). Owners paid a median $1,767 a year in real estate taxes overall, rank 40.

The relative price level has been stable, from 91.836 in 2020 to 92.691 in 2024.

Wyoming has six neighbours. Colorado is the expensive one at 103.052, with a two-bedroom median of $1,782, or $821 a month more, and a median home value of $539,400. Utah (98.864), Idaho (95.494) and Montana (94.645) are also dearer; Nebraska (90.103) and South Dakota (88.586) are cheaper. Ohio (92.774) is the nearest price level nationally.

Before you budget a move

A Wyoming comparison should preserve separate housing, travel and approved tax amounts in the household budget. A broad price-level index and a zero in one tax category answer different questions. The household still needs actual compensation and recurring expense inputs to evaluate a move.

For Cheyenne-area, Casper-area or another destination, ask whether the employment includes accommodation, travel or a changed work schedule. The state household-income median cannot identify the value of those benefits. Price the proposed lease or purchase separately and keep first-year relocation cash outside recurring living costs.