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Everyone wants a home that mixes affordability with comfort and Wyoming does this very well. Families love the Equality State's beaches, midlands, and mountains as tourists before moving here and calling it home.
But before you decide to relocate, you have to do some research into the exact cost of living around the state -- and that's how we're going to help you.
These are the places in Wyoming that cost a pretty penny -- the most expensive cities in the state.
After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Wyoming for 2020.
So where is the most expensive place to live in Wyoming? That would be Jackson.
the 2014-2018 American Community Survey for the 42 places in Wyoming with more than 1,000 people.
What's the most expensive place to live in Wyoming? Well, HomeSnacks crunched the numbers and discovered that Jackson is the most expensive place to live in Wyoming.
So hopefully Worland (the cheapest place to live in Wyoming) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about Wyoming and the most expensive cities in the country:
The 10 Most Expensive Places To Live In Wyoming For 2020
Jackson is a town in the Jackson Hole valley of Teton County, Wyoming, United States. The population was 9,577 at the 2010 census, up from 8,647 in 2000. It is the county seat of Teton County and is its largest town.
The median income in Jackson comes in at $75,150 and the median home value is $655,300 for 2020.
The median income in Buffalo comes in at $50,242 and the median home value is $238,200 for 2020.
The median income in Star Valley Ranch comes in at $70,417 and the median home value is $280,300 for 2020.
Laramie is a city and the county seat of Albany County, Wyoming, United States. The population was 30,816 at the 2010 census. Located on the Laramie River in southeastern Wyoming, the city is west of Cheyenne, at the junction of Interstate 80 and U.S. Route 287.
The median income in Laramie comes in at $44,186 and the median home value is $212,300 for 2020.
The median income in Afton comes in at $52,500 and the median home value is $216,600 for 2020.
Sheridan is a city in Sheridan County, Wyoming, United States. The 2010 census put the population at 17,444 and a Micropolitan Statistical Area of 29,116. It is the county seat of Sheridan County.
The median income in Sheridan comes in at $52,040 and the median home value is $217,900 for 2020.
The median income in Ranchester comes in at $62,679 and the median home value is $223,700 for 2020.
The median income in Cody comes in at $60,401 and the median home value is $226,500 for 2020.
Lander is a city in, and the county seat of, Fremont County, Wyoming, United States. Named for transcontinental explorer Frederick W. Lander, Lander is located in central Wyoming, along the Middle Fork of the Popo Agie River. A tourism center with several dude ranches nearby, Lander is located just south of the Wind River Indian Reservation. The population was 7,487 at the 2010 census.
The median income in Lander comes in at $52,877 and the median home value is $200,600 for 2020.
The median income in Evansville comes in at $52,500 and the median home value is $169,800 for 2020.
How We Determined The Most Expensive Places To Live In The Equality State For 2020
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 2014-2018 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 most 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 42 places in Wyoming that have more than 1,000 people.
The place with the highest cost of living in Wyoming according to the data is Jackson. You can download the data here.
Taking A Chunk Out Of Your Paycheck In Wyoming For 2020
Well there you have it, the places in Wyoming that have the highest cost of living, with Jackson ranking as the most expensive city in the Equality State.
Here's a look at the most affordable cities in Wyoming according to the data:
For more Wyoming reading, check out:
- 10 Best Places To Live In Wyoming
- These Are The 10 Best Counties To Live In Wyoming
- 10 Cheapest Places To Live In Wyoming
- 10 Best Places To Raise A Family In Wyoming
- These Are The 10 Best Places To Retire In Wyoming
- These Are The 10 Richest Cities In Wyoming
- 10 Safest Places In Wyoming
Detailed List Of The Most Expensive Cities In Wyoming
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