A wise sage once said:
“She works hard for the money…”
And these places in Wyoming definitely treat her right.
You see, these are the cities and places in Wyoming where the cost of living is the lowest; where your salary goes the furthest. And when if you have the luxury of choosing where to live in the Equality State, then the cost of living should play a role in the decision.
So we did the hard for you and crunched the numbers to find the cities that have lower food, energy, and housing costs. After the dust settled on our analysis of the 41 largest places in Wyoming, we were left with this set of the best value for your money.
So where is the cheapest place to live in Wyoming? That would be Worland.
So listen up Jackson (the most expensive place in Wyoming) as we explain how we created this ranking. You could learn some things from the rest of the state.
And if you already knew these places were cheap, check out some more reading about Wyoming and the cheapest places in the country:
The 10 Cheapest Places To Live In Wyoming For 2019
The median income in Worland comes in at $49,191 and the median home value is $137,800 for 2019.
The median income in Saratoga comes in at $73,476 and the median home value is $171,100 for 2019.
The median income in Lyman comes in at $80,673 and the median home value is $190,400 for 2019.
The median income in Marbleton comes in at $74,135 and the median home value is $153,800 for 2019.
The median income in Basin comes in at $49,821 and the median home value is $132,500 for 2019.
The median income in Guernsey comes in at $53,981 and the median home value is $127,700 for 2019.
The median income in Kemmerer comes in at $63,750 and the median home value is $170,200 for 2019.
The median income in Mountain View comes in at $58,214 and the median home value is $170,900 for 2019.
The median income in Greybull comes in at $41,563 and the median home value is $104,600 for 2019.
Thermopolis is the largest town in Hot Springs County, Wyoming, United States, and also the county seat. As of the 2010 census, the town population was 3,009.
“Thermopolis” is from the Greek for “Hot City”. It is home to numerous natural hot springs, in which mineral-laden waters are heated by geothermal processes. The town is named for the hot springs located there.
The median income in Thermopolis comes in at $50,417 and the median home value is $140,400 for 2019.
How We Determined The Most Affordable Places To Live In The Equality State For 2019
The two most important things to think about when it comes to being able to afford if you can live comes down to:
- How much do money do I make?
- How much do I have spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2013-2017 around incomes and costs. They are:
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).
You can then compare these metrics in each of the places in Wyoming to figure out which is the least expensive.
What you are left with is a “Cost of Living Index” by taking the average rank of each of these metrics for each city.
So we used that cost of living index in order to rank all of the 41 places in Wyoming that have more than 1,000 people.
The place with the lowest cost of living in Wyoming according to the data is Worland.
There You Have It Mr. Or Mrs. Wyoming Cheapskate
If you’re looking at the cost of living numbers in Wyoming, this is an accurate list of the most affordable places to live in wyoming for 2019.
Here’s a look at the most expensive cities in Wyoming according to the data:
For more Wyoming reading, check out: