5 affordable places to live in Wyoming
Buying a Wyoming home can be expensive. Of course, some places have a lower cost of living than others, so here are five of the most affordable places to live in the state.
1. Evanston
Evanston ranks fifth on Niche's list of places with the lowest cost of living in Wyoming, with only very small towns considered more affordable. Evanston is also the eighth most diverse place to live in Wyoming, and is 18 on the list of best places to buy a home in the state. A median home value of $168,000 makes homes affordable for the 68% of Evanston residents who own, as it's below the national median value of $184,700. Property taxes in Unita County (which includes Evanston) are also relatively affordable -- they average 0.49% of a property's assessed value, according to Tax-Rates.org.
2. Rock Springs
Rock Springs has a population of just over 23,600, and ranks fourth on Niche's list of best places to buy a home in Wyoming. Interesting things to see include Bunning Park and the Rock Springs Historical Museum. The median home value here is higher than Evanston's at $217,400, but 72% of Rock Springs residents own their homes. Property taxes in Sweetwater County are a bit higher than in Evanston, though, at an average rate of 0.56% of assessed fair market value. Residents who enjoy Rock Springs' local attractions may not mind paying these higher taxes, though.
3. Green River
Green River is a smaller town than Rock Springs, with a population of only 12,278. However, it's also a great place to become a homeowner. It comes in sixth out of 31 on Niche's list of the best places to buy in Wyoming. Green River is also the fifth most diverse place in the state, and the 10th best place to raise a family. Median home prices here also top the national average at $212,400. However, 77% of Green River residents are owners. Like Rock Springs, Green River is in Sweetwater County, where property taxes come in at an average rate of 0.56%.
4. Gillette
Gillete is the 16th best place in Wyoming to purchase a home, but is the 13th best place for young professionals and the 15th most diverse location in the state. Around 67% of the 33,056 residents of this mid-sized town live in homes they own. The median value of those homes is around $207,700. Gillette is located in Campbell County, where property taxes are lower than in the top four locales on this list. The average rate is just 0.47% of a property's assessed fair market value.
5. Casper
Casper is a much larger Wyoming town than the others listed here, with a population of 58,756. Sixty-three percent of residents own their homes, and the median value of Casper houses is above the national average at $200,700. Casper is known for its diversity and its good public schools, and it's also considered one of the best places for young professionals in Wyoming. Those young professionals, as well as other residents, may enjoy visiting the Hogadon Baisin Ski area as well as Nicolaysen Art Museum located in Casper. The county where it is located, Natrona, also charges taxes at a rate just below Rock Springs. It’s 0.55% of assessed fair market value on average.
Comparing cost of living is important, as is comparing lenders to find the best mortgage rates in Wyoming. With a little research, you can ensure your home purchase is an affordable one you won't regret.
Check out our mortgage calculator to help you estimate your monthly payment, including principal, interest, insurance, taxes, and PMI.
