Cost of Living in Wyoming
Things cost about ▼ 7% less in Wyoming than the national average.
What Things Cost in Wyoming
Compared to the US national average
See raw index numbers
US national average = 100. Source: BEA Regional Price Parities 2023.
Wyoming has no state income tax, no corporate income tax, and the lowest overall tax burden in the nation by some measures. With a population of roughly 580,000 (the fewest of any state), it offers vast open spaces, clean air, and a pace of life that is the opposite of urban America. The cost of living is just below the national average, but the range within the state is enormous: Jackson Hole is one of the most expensive places in the country, while Cheyenne and Casper are solidly affordable. Wyoming's economy depends on mineral extraction (coal, oil, natural gas), tourism (Yellowstone, Grand Teton), and agriculture.
Wyoming at a Glance
Taxes in Wyoming
Wyoming has no state income tax. That's money in your pocket that residents of most other states don't keep. The combined sales tax averages 4%, which is relatively low. Property taxes run about 0.55% of home value, which on a $310,000 median home means roughly $1,705/year.
Explore Wyoming
FAQ About Wyoming
Nearly. Wyoming has no state income tax, no corporate income tax, no tax on retirement income, no estate or inheritance tax, and very low property taxes (about 0.56%). Sales tax is modest at about 5.4% combined. The state consistently ranks as the lowest-tax or second-lowest-tax state in the nation. The tax structure is supported by mineral extraction revenue, which means individual residents bear a lighter burden than in almost any other state.
Extremely. Jackson (Teton County) has a median home price exceeding $2 million, making it one of the most expensive communities in America. The wealth disparity is stark: service workers often commute from Idaho because they cannot afford to live in Jackson. Jackson Hole is not representative of Wyoming's cost of living. Excluding Teton County, the rest of the state is affordable, with most communities at or below the national average.
Wyoming is wide open, uncrowded, and beautiful. The population density is the second-lowest in the nation (Alaska is lower). This means long drives between communities, limited shopping and dining options outside the few larger towns, and a level of self-reliance that is not metaphorical. Winters are cold and windy, particularly in the eastern plains. For people who love outdoor recreation, value low taxes, and are comfortable with isolation, Wyoming offers a lifestyle that is hard to replicate. It is not for everyone, but those who choose it tend to feel strongly about it.