The 10 Most Affordable Places to Live in Wyoming

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By Michael Yessis Updated June 13, 2024
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Edited by Ashley Simon

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The 82935 zip code in Green River tops our ranking of the most affordable places to live in Wyoming.

We looked at 19 zip codes in the state, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.  

Top 10 most affordable places to live in Wyoming

RankCity Affordability Score Median home valueRental costs
1Green River 🥇100$277,984$1,244
2Rock Springs🥈99.9$274,295$1,130
3Gillette 🥉95.4$274,536$1,244
4Casper90.9$265,059$1,093
5Riverton84.9$249,975$1,244
6Cheyenne80.3$326,169$1,089
7Lander69.2$372,429$1,244
8Laramie66.8$362,009$1,063
9Sheridan65.4$402,819$1,244
10Powell63.4$396,549$1,244
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1. Green River

Here's why the 82935 zip code in Green River is Wyoming's most affordable place to live.

🔎 Key data about Green River

Data pointValueRank (out of 19 markets)Difference from median or average
Affordability Score 100 No. 1N/A
Median home value $277,984[1]No. 5 -$126,001.44
Home affordability ratio 3.3No. 1-2.1
Home value five-year change 23.4%[2]No. 2-24.1%
Home value one-year forecast -3.3%[3]No. 1-1.7%
Rental costs $1,244[4]No. 6$0
Rent affordability ratio 1.66%No. 50.0%
Median household income $83,988[5]No. 4$9,151
Property taxes $1,484[6]No. 7-$245
Energy costs $0.11 kWh[7]No. 1-$0.01
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Green River's 82935 zip code is the cheapest place to live in Wyoming, leading the 19 markets we evaluated. 

The median home value is $277,984, making it the 5th-cheapest housing market in the state. Forecasts project a -3.3% change in home values in the next year. Rent in the zip code averages $1,244 per month, which is the 5th cheapest amount in Wyoming.

The median property tax for homeowners in Green River is $1,484 per household, the No. 7 ranked market in Wyoming. 

Residents pay $0.11 per kWh of electricity, which ranks No. 1 among Wyoming markets.

2. Rock Springs

The 82901 zip code is the 2nd-cheapest place to live in Wyoming.

🔎 Key data about Rock Springs

Data pointValueRank (out of 19 markets)Difference from median or average
Affordability Score 99.9No. 2N/A
Median home value $274,295[8]No. 3-$129,690.38
Home affordability ratio 3.5No. 3-1.9
Home value five-year change 21.3%[9]No. 1-26.3%
Home value one-year forecast -3.2%[10]No. 2-1.6%
Rental costs $1,130[11]No. 4-$114
Rent affordability ratio 1.44%No. 2-0.2%
Median household income $78,639[12]No. 5$3,802
Property taxes $1,411[13]No. 4-$318
Energy costs $0.11 kWh[14]No. 1-$0.01
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Rock Springs's 82901 zip code has a median home value of $274,295, which is the 2nd-cheapest housing market in Wyoming. You can rent for an average of $1,130 per month. That's the 4th-cheapest price in the state.

The average household income in the zip code is $78,639, which ranks 5th-highest in the state. 

Homeowners in Rock Springs pay a median property tax of $1,411 per year, making it the 4th-most affordable market in Wyoming.

Rock Springs ranks No. 1 among Wyoming energy markets. You'll pay $0.11 per kWh of electricity.

3. Gillette

The 3rd-cheapest place to live in Wyoming is Gillette's 82716 zip code.

🔎 Key data about Gillette

Data pointValueRank (out of 19 markets)Difference from median or average
Affordability Score 95.4No. 3N/A
Median home value $274,536[15]No. 4-$129,449.83
Home affordability ratio 3.6No. 4-1.8
Home value five-year change 31.4%[16]No. 6-16.1%
Home value one-year forecast -3.0%[17]No. 3-1.4%
Rental costs $1,244[18]No. 6$0
Rent affordability ratio 1.66%No. 50.0%
Median household income $76,679[19]No. 6$1,842
Property taxes $1,286[20]No. 2-$443
Energy costs $0.12 kWh[21]No. 14$0.00
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The No. 4 cheapest housing in Wyoming is Gillette's 82716 zip code, with a median home value of $274,536. Rents in the market average $1,244 per month, making it the 6th-most affordable rental market in the state.

The median property tax for households in Gillette is $1,286, which makes it the 2nd-cheapest place in Wyoming. Gillette ranks No. 14 among Wyoming markets by energy costs. Residents pay $0.12 per kWh of electricity.

4. Casper

The 82601 zip code in Casper comes in at No. 4 on our list of the cheapest places to live in Wyoming.

🔎 Key data about Casper

Data pointValueRank (out of 19 markets)Difference from median or average
Affordability Score 90.9No. 4N/A
Median home value $265,059[22]No. 2-$138,927.19
Home affordability ratio 4.0No. 6-1.4
Home value five-year change 38.3%[23]No. 9-9.3%
Home value one-year forecast -1.4%[24]No. 100.2%
Rental costs $1,093[25]No. 3-$151
Rent affordability ratio 1.65%No. 40.0%
Median household income $66,263[26]No. 14-$8,574
Property taxes $1,446[27]No. 5-$283
Energy costs $0.11 kWh[28]No. 1-$0.01
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The No. 2 cheapest housing market in Wyoming is Casper's 82601 zip code, where the median home value is $265,059. Renters here pay an average of $1,093 per month. 

When it comes to energy costs, Casper ranks 1st among Wyoming markets. Residents pay $0.11 per kWh of electricity.

The median property tax for households in the zip code is $1,446, which makes it the 5th-cheapest market in Wyoming.

5. Riverton

The 82501 zip code in Riverton ranks No. 5 among Wyoming's most affordable places to live.

🔎 Key data about Riverton

Data pointValueRank (out of 19 markets)Difference from median or average
Affordability Score 84.9No. 5N/A
Median home value $249,975[29]No. 1-$154,010.76
Home affordability ratio 4.3No. 8-1.1
Home value five-year change 43.6%[30]No. 13-4.0%
Home value one-year forecast -0.6%[31]No. 161.0%
Rental costs $1,244[32]No. 6$0
Rent affordability ratio 1.66%No. 50.0%
Median household income $57,550[33]No. 17-$17,287
Property taxes $1,454[34]No. 6-$275
Energy costs $0.11 kWh[35]No. 1-$0.01
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Riverton's 82501 zip code has a median home value of $249,975, the 1st-cheapest market in the state. Forecasts project a -0.6% change in home values in the next year. 

The median property tax per household in Riverton is $1,454. It's the 6th-cheapest market by tax rate in Wyoming.

6. Cheyenne

The No. 6 most affordable place to live in Wyoming is the 82001 zip code.

🔎 Key data about Cheyenne

Data pointValueRank (out of 19 markets)Difference from median or average
Affordability Score 80.3No. 6N/A
Median home value $326,169[36]No. 9-$77,816.71
Home affordability ratio 4.5No. 9-0.9
Home value five-year change 31.6%[37]No. 7-16.0%
Home value one-year forecast -2.5%[38]No. 5-0.9%
Rental costs $1,089[39]No. 2-$156
Rent affordability ratio 1.52%No. 3-0.1%
Median household income $71,846[40]No. 9-$2,991
Property taxes $1,500[41]No. 8-$229
Energy costs $0.14 kWh[42]No. 18$0.03
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The back half of our top 10 kicks off with Cheyenne's 82001 zip code, which has the 9th-cheapest home values in Wyoming. The median home value is $326,169. Rents average $1,089 per month, making it the 2nd-most affordable rental market in the state.

Residents pay $0.14 per kWh of electricity. It's the 18th-cheapest energy market.

7. Lander

Lander's 82520 zip code is the 7th-cheapest place to live in Wyoming.

🔎 Key data about Lander

Data pointValueRank (out of 19 markets)Difference from median or average
Affordability Score 69.2No. 7N/A
Median home value $372,429[43]No. 14-$31,556.75
Home affordability ratio 5.3No. 12-0.1
Home value five-year change 55.4%[44]No. 157.8%
Home value one-year forecast -0.6%[45]No. 161.0%
Rental costs $1,244[46]No. 6$0
Rent affordability ratio 1.66%No. 50.0%
Median household income $70,576[47]No. 11-$4,261
Property taxes $1,799[48]No. 15$70
Energy costs $0.11 kWh[49]No. 1-$0.01
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You'll find the 14th-cheapest home values in Wyoming in Lander's 82520 zip code. The median value: $372,429. Renters in Lander pay an average of $1,244 per month.

Homeowners in Lander pay a median property tax of $1,799 per year, which is Wyoming's 15th-most affordable market.

The average household income is $70,576, which ranks 11th-highest in the state.

8. Laramie

The 8th-cheapest place to live in Wyoming is Laramie's 82070 zip code.

🔎 Key data about Laramie

Data pointValueRank (out of 19 markets)Difference from median or average
Affordability Score 66.8No. 8N/A
Median home value $362,009[50]No. 13-$41,976.76
Home affordability ratio 6.0No. 140.6
Home value five-year change 42.5%[51]No. 12-5.0%
Home value one-year forecast -1.2%[52]No. 130.4%
Rental costs $1,063[53]No. 1-$181
Rent affordability ratio 1.75%No. 140.1%
Median household income $60,632[54]No. 16-$14,205
Property taxes $1,774[55]No. 12$45
Energy costs $0.13 kWh[56]No. 15$0.01
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The 13th-cheapest housing market in Wyoming is Laramie's 82070 zip code, with a median home value of $362,009. Renters pay an average of $1,063 per month, the No. 1 rental market in the state.

The median property tax for households in Laramie is $1,774, which makes it the 12th-cheapest place in Wyoming. The average household income of $60,632 ranks 16th.

9. Sheridan

Sheridan's 82801 zip code sneaks into the top ten of Wyoming's most affordable places to live.

🔎 Key data about Sheridan

Data pointValueRank (out of 19 markets)Difference from median or average
Affordability Score 65.4No. 9N/A
Median home value $402,819[57]No. 16-$1,167.28
Home affordability ratio 6.0No. 150.6
Home value five-year change 42.1%[58]No. 11-5.5%
Home value one-year forecast -1.1%[59]No. 150.5%
Rental costs $1,244[60]No. 6$0
Rent affordability ratio 1.66%No. 50.0%
Median household income $67,276[61]No. 13-$7,561
Property taxes $1,790[62]No. 14$61
Energy costs $0.12 kWh[63]No. 13$0.00
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The 16th-cheapest housing market in Wyoming is Sheridan's 82801 zip code, where the median home value is $402,819. Renters pay an average of $1,244 per month. It's the state's 6th-cheapest rental market.

The median property tax for households within the zip code is $1,790, which makes it the 14th-cheapest property tax rate in Wyoming. 

10. Powell

The final spot on our list of the most affordable places to live in Wyoming goes to the 82435 zip code in Powell.

🔎 Key data about Powell

Data pointValueRank (out of 19 markets)Difference from median or average
Affordability Score 63.4No. 10N/A
Median home value $396,549[64]No. 15-$7,436.59
Home affordability ratio 6.2No. 160.8
Home value five-year change 58.3%[65]No. 1610.7%
Home value one-year forecast -1.6%[66]No. 80.0%
Rental costs $1,244[67]No. 6$0
Rent affordability ratio 1.66%No. 50.0%
Median household income $64,274[68]No. 15-$10,563
Property taxes $1,788[69]No. 13$59
Energy costs $0.12 kWh[70]No. 11$0.00
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The 15th-most affordable market in Wyoming is Powell's 82435 zip code. The median home value is $396,549. Rent in the market costs $1,244 per month on average, making it the 6th-most affordable rental market in Wyoming.

The median property tax for households in Powell is $1,788, which is the 13th-cheapest property tax rate in the state.

Powell ranks No. 11 among Wyoming markets by energy costs, with households paying $0.12 per kWh of electricity.

How we ranked the most affordable places in Wyoming

We evaluated 19 zip codes in Wyoming with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings. 

✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a state by zip code.

Often the zip code we identify will represent an entire city or portion of a city. 

Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location. 

If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.

Methodology: What is an Affordability Score?

Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.

  • Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Wyoming, the higher our score on this component. We assign a weight of 23.8% to median home value.
  • Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 23.8% to the home affordability ratio.
  • Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 4.8% to the home value five-year change.
  • Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 4.8% to the home value one-year forecast.
  • Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 11.9% to rental costs. 
  • Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 4.8% to median household income.
  • Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 11.9% to the rent affordability ratio.
  • Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Wyoming average, the higher our score on this component. We assign a weight of 7.1% to property taxes. 
  • Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Wyoming average, the higher our score on this component. We assign a weight of 7.1% to energy costs.  

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