Overview
Wyoming is the least populous state, offering unmatched wide-open spaces, privacy, and Western heritage. The state has no income tax and very low property taxes. Jackson Hole is home to some of the most expensive real estate in the nation, while most of the state remains affordable. Energy, tourism, and agriculture drive the economy.
Wyoming Real Estate Market
Wyoming's housing market is split between ultra-expensive Jackson Hole and affordable everywhere else. Teton County (Jackson) has a median home price over $2 million, driven by wealthy buyers and limited developable land. Cities like Cheyenne, Casper, and Gillette offer much more affordable options but have fewer amenities and job opportunities outside energy and government sectors.
Property Taxes in Wyoming
Wyoming has some of the lowest property taxes in the nation, with residential property assessed at a fraction of market value.
Average effective rate: 0.61%
Annual tax on median home: ~$2,105
Assessment rate: 9.5% of fair market value
First-Time Buyer Programs
Wyoming Community Development Authority:
- Spruce Up Wyoming - Home improvement assistance
- HFA Advantage - Below-market rates
- Down payment assistance available through participating lenders
Closing Costs in Wyoming
Wyoming closing costs are relatively low, typically 2-3% of purchase price.
Common costs include:
- Title insurance: Based on purchase price
- Escrow fees: $300-$600
- Recording fees: County-dependent
- No transfer tax
Frequently Asked Questions
Jackson Hole combines world-class skiing, stunning Teton scenery, and proximity to Yellowstone with very limited developable land (97% of Teton County is public land). This creates extreme scarcity for one of the most desirable destinations in America.
Wyoming has no state income tax, no corporate income tax, and very low property taxes. However, the limited services, harsh climate, and remote location may not suit everyone despite tax advantages.
Wyoming's economy is heavily dependent on energy (coal, oil, gas), tourism, and government. Job opportunities are limited outside these sectors. Remote workers and retirees may find the low taxes and open spaces attractive.